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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities:    
Net loss $ (23,816) $ (20,068)
Adjustments to reconcile net loss to net cash (used for) provided by operating activities:    
Depreciation 11,160 10,820
Amortization 6,682 7,212
Loss on sales of assets (13) (4,537)
Restructuring and asset impairment charges 1,661 1,527
Deferred income tax and other deferred charges (3,787) 95
Goodwill Impairment 36,684 34,118
Stock-based compensation 3,703 3,708
Change in earn-out liability (3,160) (15,750)
Other, net (35) (2,528)
Change in operating assets and liabilities:    
Receivables 29,731 (12,847)
Inventories 8,021 (29,254)
Prepaid expenses and other current assets 14,418 (7,928)
Accounts payable (21,191) 27,600
Customer deposits (2,695) 3,157
Accrued expenses (1,397) (1,927)
Net cash provided by (used for) operating activities 55,966 (6,602)
Cash Flows From Investing Activities:    
Capital expenditures (13,658) (12,869)
Proceeds from sales of assets 354 5,498
Purchases of capitalized software (3,423) (2,925)
Other, net 128 (50)
Net cash used for investing activities (16,599) (10,346)
Cash Flows From Financing Activities:    
Proceeds from revolving credit facility 106,000 45,000
Payments on revolving credit facility (124,000) (27,000)
Repayments of long-term debt (79) (30)
Dividends paid to shareholders (9,903) (9,925)
Repurchases of Common Stock (3,900) (2,447)
Repurchase of employee shares for tax withholding (223) (590)
Net cash (used for) provided by financing activities (32,105) 5,008
Net Decrease in Cash, Cash Equivalents, and Restricted Cash [1] 7,262 (11,940)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash at Beginning of Period [1] 11,996 25,727
Cash, Cash Equivalents, Restricted Cash and Restricted Cash at End of Period [1] 19,258 13,787
Cash paid (refunded) during the period for:    
Income taxes 4,439 (99)
Interest expense $ 2,002 $ 862
[1] The following table reconciles cash and cash equivalents in the balance sheets to cash, cash equivalents, and restricted cash per the statements of cash flows. The restricted cash included in other assets on the balance sheet represents customer deposits held due to a foreign entity being classified as a restricted entity by a government agency subsequent to our receipt of the deposit. In addition, the restricted cash balance for periods June 30, 2022 and prior included cash held in escrow for repayment of the Payment Protection Program loan that Poppin, Inc. obtained prior to its acquisition and amounts pledged as collateral for a long-term financing arrangement as contractually required by a lender and the restriction lapsed when the related debt was paid.