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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Dec. 29, 2019
Dec. 30, 2018
Operating activities:    
Net income $ 58,881 $ 51,312
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,465 15,812
Amortization of deferred financing costs 325 452
Deferred income taxes (1,003) (654)
Bad debt expense 731 582
Stock-based compensation 4,045 2,628
Other non-cash items (187) (501)
Changes in operating items:    
Trade receivables (32,918) (36,047)
Inventories 25,358 24,819
Prepaid and other 1,021 3,159
Accounts payable and accrued expenses 90,166 78,361
Other assets and liabilities 272 (340)
Net cash provided by operating activities 162,156 139,583
Investing activities:    
Acquisitions, net of cash acquired (20,500)
Capital expenditures, net of non-cash expenditures (10,712) (11,786)
Purchase of equity investments (1,001)
Net cash used in investing activities (32,213) (11,786)
Financing activities:    
Acquisition of treasury stock (5,030) (13,405)
Proceeds from exercise of employee stock options 285 365
Proceeds from bank borrowings 20,000 30,000
Repayment of notes payable and bank borrowings (22,500) (34,312)
Debt issuance cost (60)
Net cash used in financing activities (7,305) (17,352)
Net change in cash and cash equivalents 122,638 110,445
Cash and cash equivalents:    
Beginning of period 172,923 147,240
End of period $ 295,561 $ 257,685