XML 22 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 19,570 $ 10,210 $ 5,534
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 3,231 3,444 3,278
Inventory obsolescence reserve 399 359 776
Paid in kind interest     1,034
Deferred issuance costs 361 109 169
Stock-based compensation 711 13,687  
Loss on extinguishment of debt   716 852
Change in common stock warrant fair value   3,425 6,621
Unrecognized tax benefits 743 1,670 (101)
Deferred income taxes 4,454 (3,923) 6,062
Net provision for doubtful accounts 17 (27) (373)
Loss on disposal of fixed assets 10 1 78
Changes in operating assets and liabilities:      
Accounts receivable (551) (286) 2,126
Inventories 1,193 (2,086) (632)
Prepaid expenses and other current assets (658) 3,348 (5,667)
Income tax receivable 5 (5)  
Other assets 45 (45) (45)
Accounts payable (2,104) (1,697) 1,788
Income tax payable (328) 884 42
Accrued expenses and other current liabilities (866) 963 3,712
Net cash provided by operating activities 26,232 30,747 25,254
CASH FLOWS FROM INVESTING ACTIVITIES:      
Disposal of assets     (10)
Purchases of property and equipment (4,135) (3,817) (3,467)
Net cash used in investing activities (4,135) (3,817) (3,477)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock   91,071  
Proceeds from issuance of long-term debt   50,000 75,000
Payments of costs directly associated with offerings (449) (7,202)  
Cash paid for withholding taxes on vested stock (4)    
Excess tax benefits 312    
Principal payments on long-term debt (14,865) (71,250) (70,764)
Proceeds from revolving line of credit   9,208 20,188
Payments on revolving line of credit (3,126) (14,271) (12,000)
Repurchase and retirement of common stock   (4,502)  
Payments of debt discount   (923) (1,120)
Payments of deferred financing costs   (300) (453)
Dividends paid   (79,945) (44,000)
Proceeds from exercise of common stock warrant   90  
Net cash used in financing activities (18,132) (28,024) (33,149)
NET CHANGE IN CASH AND CASH EQUIVALENTS 3,965 (1,094) (11,372)
CASH AND CASH EQUIVALENTS — BEGINNING OF PERIOD 73 1,167 12,539
CASH AND CASH EQUIVALENTS — END OF PERIOD 4,038 73 1,167
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash payments for interest 2,006 397 2,725
Cash payments for income taxes $ 6,541 9,635 $ 551
SIGNIFICANT NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Payment of costs directly associated with the issuance of common stock   2,107  
Issuance of shares of common stock warrants   $ 12,572