XML 16 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows
$ in Thousands
9 Months Ended
Sep. 23, 2016
USD ($)
Sep. 25, 2015
USD ($)
Cash flows from operating activities:    
Net income $ 98 $ 5,056
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,242 3,447
Amortization of finite-lived intangibles 4,318 4,042
Amortization of debt issuance costs 114 790
Stock-based compensation 4,040 2,607
Change in the fair value of the contingent earn out 1,405  
Excess tax benefit from stock-based compensation 771 809
Changes in assets and liabilities, net of effects of acquisition:    
Accounts receivable (6,567) 7,416
Inventory (16,185) (11,071)
Prepaid expenses and other 1,249 (1,300)
Deferred income taxes 1,276 (196)
Other non-current assets (26) (12)
Accounts payable 12,342 (8,180)
Accrued compensation and related benefits 443 132
Income taxes payable 450 (809)
Other liabilities 1,412 1,712
Net cash provided by operating activities 9,382 4,443
Cash flows from investing activities:    
Purchases of equipment and leasehold improvements (5,460) (5,196)
Disposal of equipment and leasehold improvements 34  
Acquisition of business   (44,495)
Net cash used for investing activities (5,426) (49,691)
Cash flows from financing activities:    
Proceeds from bank borrowings 4,523 76,981
Proceeds from issuance of common stock 500 2,307
Principal payments on bank borrowings (11,016) (51,509)
Payments of debt issuance costs   (611)
Excess tax benefit from stock-based compensation (771) (809)
Employees’ taxes paid upon vesting of restricted stock units   (331)
Net cash provided by (used for) financing activities (6,764) 26,028
Effect of exchange rate changes on cash and cash equivalents (25) 6
Net decrease in cash and cash equivalents (2,833) (19,214)
Cash and cash equivalents at beginning of period 50,103 78,997
Cash and cash equivalents at end of period 47,270 59,783
Supplemental cash flow information:    
Income taxes paid 2,988 2,611
Income tax refunds 591  
Interest paid 1,920 1,776
Non-cash investing activities:    
Fair value of common shares issued for acquisition   17,661
Fair value of earn-out payments related to Miconex acquisition   1,280
Equipment and leasehold improvements purchased included in accounts payable $ 483 $ 3,531