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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 02, 2024
Feb. 25, 2023
Mar. 02, 2024
Feb. 25, 2023
Operating activities:        
Net income $ 750 $ 6,340 $ 180 $ 18,213
Adjustments to reconcile net income to cash used in operating activities:        
Depreciation and amortization 1,104 912 3,218 2,688
Inventory provisions 173 115 450 310
Share-based compensation expense 279 206 1,045 730
Loss (gain) on disposal of assets 0 13 70 (12)
Deferred income taxes (4) (1) 42 27
Change in assets and liabilities:        
Accounts receivable (5,254) (7,189) 998 (12,694)
Inventories 3,974 (3,638) (2,246) (21,764)
Prepaid expenses and other assets 151 (153) (58) (578)
Accounts payable (4,072) (12) (5,204) 784
Accrued liabilities 247 (661) 625 486
Other 121 (192) 164 397
Net cash used in operating activities (2,531) (4,260) (716) (11,413)
Investing activities:        
Capital expenditures (401) (2,230) (3,057) (4,973)
Proceeds from maturity of investments 0 5,000 0 5,000
Proceeds from sale of property, plant & equipment 0 0 0 193
Net cash (used in) provided by investing activities (401) 2,770 (3,057) 220
Financing activities:        
Proceeds from issuance of common stock 0 511 342 3,413
Cash dividends paid on Common and Class B Common shares (844) (834) (2,532) (2,484)
Proceeds from short-term borrowing 3,744 0 3,744 0
Repayment of short-term borrowing (3,744) 0 (3,744) 0
Other 0 0 (119) (69)
Net cash (used in) provided by financing activities (844) (323) (2,309) 860
Effect of exchange rate changes on cash and cash equivalents (113) 352 (19) (517)
Decrease in cash and cash equivalents (3,889) (1,461) (6,101) (10,850)
Cash and cash equivalents at beginning of period 22,769 26,106 24,981 35,495
Cash and cash equivalents at end of period $ 18,880 $ 24,645 $ 18,880 $ 24,645