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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Dec. 26, 2020
Dec. 28, 2019
Operating activities:    
Net income $ 3,299 $ 2,376
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 3,368 3,143
Amortization of deferred loan costs 35 15
Provision for obsolete inventory 446 41
Provision for warranty 36 89
Provision for doubtful accounts (21) 0
Loss on disposal of assets 0 206
Share-based compensation expense 114 141
Deferred income taxes 39 (318)
Changes in operating assets and liabilities:    
Trade receivables (13,961) (13,514)
Contract assets 1,118 5,090
Inventories (4,865) (9,754)
Other assets 1,665 3,689
Accounts payable (10,268) 6,877
Accrued compensation and vacation (1,388) 195
Other liabilities 3,435 664
Cash used in operating activities (16,823) (8,438)
Investing activities:    
Purchase of property and equipment (6,963) (5,360)
Proceeds from sale of fixed assets 0 696
Cash receipts from deferred purchase price of factored receivables 0 2,695
Cash used in investing activities (6,963) (1,969)
Financing activities:    
Payment of financing costs (561) (5)
Proceeds from issuance of long term debt 11,000 5,000
Payments for Hedge, Financing Activities 925 0
Repayments of long term debt 11,066 3,352
Borrowings under revolving credit agreement 163,483 91,216
Repayments of revolving credit agreement 133,691 82,554
Cash provided by financing activities 28,240 10,305
Net increase (decrease) in cash and cash equivalents 4,454 (102)
Cash and cash equivalents, beginning of period 553 601
Cash and cash equivalents, end of period 5,007 499
Noncash investing and financing items:    
Beneficial interest in transferred receivables 0 (1,718)
Supplemental cash flow information:    
Interest payments 1,533 1,235
Income tax payments, net of refunds 897 426
Amortization of Deferred Charges $ 125 $ 0