XML 38 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Sep. 27, 2014
Sep. 28, 2013
Operating activities:    
Net (loss) income $ (1,523) $ 1,705
Adjustments to reconcile net (loss) income to cash used in operating activities:    
Depreciation and amortization 1,269 864
Excess tax benefit from exercise of stock options 0 (77)
Provision for obsolete inventory 118 102
Provision for warranty 14 1
Provision for doubtful accounts 74 0
Loss on disposal of assets (6) 0
Share-based compensation expense 165 154
Deferred income taxes 1,815 (46)
Changes in operating assets and liabilities, net of acquisition:    
Trade receivables (3,911) (1,561)
Inventories 2,589 (191)
Other assets (3,303) (2,031)
Accounts payable 5,450 1,200
Accrued compensation and vacation (2,052) (1,406)
Other liabilities (2,837) (317)
Cash used in operating activities (2,138) (1,603)
Investing activities:    
Payment for acquisition, net of cash acquired (47,763) (6,027)
Purchase of property and equipment (2,248) (1,134)
Proceeds from sale of fixed assets 2,195 0
Cash used in investing activities (47,816) (7,161)
Financing activities:    
Payment of financing costs (11) 0
Proceeds from long term debt 35,000 0
Principal payments on capital lease obligations 0 (189)
Borrowings under revolving credit agreement 39,552 0
Repayment of revolving credit agreement (21,618) 0
Proceeds from accounts receivable purchase agreement 1,147 0
Payments towards accounts receivable purchase agreement (8,969) 0
Excess tax benefit from exercise of stock options 0 77
Proceeds from exercise of stock options 17 17
Cash provided by (used in) financing activities 45,118 (95)
Net decrease in cash and cash equivalents (4,836) (8,859)
Cash and cash equivalents, beginning of period 5,803  
Cash and cash equivalents, end of period 967 1,960
Supplemental cash flow information:    
Interest payments 286 26
Income tax payments, net of refunds $ 198 $ 135