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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2023
Jan. 01, 2023
Operating activities:    
Net income $ 31,665 $ 48,838
Adjustments to reconcile net income to net cash provided by operating activities:    
Intangible impairment 19,762 0
Depreciation and amortization 27,346 27,009
Amortization of deferred financing costs 361 671
Deferred income taxes (6,108) (846)
Bad debt expense 225 2,407
Stock-based compensation 4,595 3,454
Other non-cash items (385) (470)
Changes in operating items:    
Trade receivables (26,384) (31,622)
Inventories 29,808 46,506
Prepaid and other 6,640 7,550
Accounts payable and accrued expenses 125,404 89,050
Other assets and liabilities (169) 1,113
Net cash provided by operating activities 212,760 193,660
Investing activities:    
Capital expenditures (17,807) (23,849)
Net cash used in investing activities (17,807) (23,849)
Financing activities:    
Acquisition of treasury stock (4,787) (1,175)
Proceeds from exercise of employee stock options 44 0
Proceeds from bank borrowings 82,000 195,900
Repayment of bank borrowings (87,000) (205,900)
Debt issuance cost 0 (383)
Net cash used in financing activities (9,743) (11,558)
Net change in cash and cash equivalents 185,210 158,253
Cash and cash equivalents:    
Beginning of period 126,807 31,465
End of period $ 312,017 $ 189,718