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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jan. 01, 2022
Dec. 26, 2020
Operating activities:    
Net income $ 1,402,000 $ 3,299,000
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 2,613,000 3,368,000
Amortization of interest rate swap 151,000 125,000
Amortization of deferred loan costs 69,000 35,000
Provision for obsolete inventory 365,000 446,000
Provision for warranty 228,000 36,000
Provision for doubtful accounts 54,000 (21,000)
Share-based compensation expense 143,000 114,000
Deferred income taxes (175,000) 39,000
Changes in operating assets and liabilities:    
Trade receivables (13,143,000) (13,961,000)
Contract assets (1,187,000) 1,118,000
Inventories (20,786,000) (4,865,000)
Other assets (13,537,000) 1,665,000
Accounts payable 39,019,000 (10,268,000)
Accrued compensation and vacation (4,114,000) (1,388,000)
Other liabilities (1,630,000) 3,435,000
Cash used in operating activities (10,528,000) (16,823,000)
Investing activities:    
Purchase of property and equipment (2,766,000) (6,963,000)
Proceeds from sale of fixed assets 2,000 0
Cash used in investing activities (2,764,000) (6,963,000)
Financing activities:    
Payment of financing costs (118,000) (561,000)
Proceeds from issuance of long term debt 7,004,000 11,000,000
Interest rate swap termination fee 0 (925,000)
Repayments of long term debt 1,066,000 11,066,000
Borrowings under revolving credit agreement 289,963,000 163,483,000
Repayments of revolving credit agreement 283,841,000 133,691,000
Principal payments on finance leases (1,077,000) 0
Cash provided by financing activities 10,865,000 28,240,000
Net (decrease) increase in cash and cash equivalents (2,427,000) 4,454,000
Cash and cash equivalents, beginning of period 3,473,000 553,000
Cash and cash equivalents, end of period 1,046,000 5,007,000
Supplemental cash flow information:    
Interest payments 1,811,000 1,533,000
Income tax payments, net of refunds 530,000 897,000
Recognition of operating lease liabilities and right-of-use assets 5,246 0
Recognition of financing lease liabilities and right-of-use assets $ 5,973 $ 0