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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Oct. 26, 2024
Oct. 28, 2023
Operating activities    
Net income $ 28,709 $ 39,735
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Depreciation and amortization 17,854 15,387
(Gain) loss from equity method investments (1,055) 1,414
Amortization of debt issuance costs 1,047 424
Provision for doubtful accounts (67) 4
Reserve for inventory excess and obsolescence 2,032 8,338
Other non-cash expense, net 1,194 331
Non-cash lease expense 4,980 4,486
Gain (loss) on foreign currency transactions 32 (184)
Unrealized loss on available-for-sale equity securities, net 267 3,463
Deferred income taxes   (1,006)
Stock-based compensation 10,137 8,244
Loss on disposal of property and equipment 201 136
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (3,500) 15,553
Unbilled receivables and retentions (4,684) (35,175)
Inventories 7,485 (49,329)
Income taxes receivable (9,636) (5,735)
Prepaid expenses and other assets (2,247) (12,720)
Accounts payable (7,624) (6,105)
Other liabilities (20,416) (12,851)
Net cash provided by (used in) operating activities 24,709 (25,590)
Investing activities    
Acquisition of property and equipment (10,447) (10,104)
Contributions in equity method investments (1,183) (1,875)
Acquisitions of intangible assets   (1,500)
Business acquisitions, net of cash acquired   (24,156)
Net cash used in investing activities (11,630) (37,635)
Financing activities    
Principal payments of term loan (28,000) (55,000)
Holdback and retention payments for business acquisition   (500)
Proceeds from shares issued, net of issuance costs   88,437
Proceeds from long-term debt 15,000  
Payment of debt issuance costs (900) (8)
Tax withholding payment related to net settlement of equity awards (4,064) (1,370)
Exercise of stock options 506  
Other (13) (15)
Net cash (used in) provided by financing activities (17,471) 31,544
Effects of currency translation on cash and cash equivalents 51 (270)
Net decrease in cash and cash equivalents (4,341) (31,951)
Cash and cash equivalents at beginning of period 73,301 132,859
Cash and cash equivalents at end of period 68,960 100,908
Cash paid, net during the period for:    
Income taxes 14,444 11,054
Interest 777 4,818
Non-cash activities    
Issuance of common stock for business acquisition   109,820
Change in foreign currency translation adjustments 364 (1,625)
Acquisitions of property and equipment included in accounts payable $ 964 $ 915