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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Operating activities:    
Net income $ 1,719 $ 1,552
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 1,752 1,609
Amortization of deferred loan costs 13 8
Provision for obsolete inventory 178 21
Provision for warranty 19 16
Loss on disposal of assets 0 206
Share-based compensation expense 63 74
Deferred income taxes (81) (360)
Changes in operating assets and liabilities:    
Trade receivables (5,449) (10,140)
Contract assets (705) 399
Inventories (4,949) (17,327)
Other assets 292 (829)
Accounts payable (1,059) 13,643
Accrued compensation and vacation (2,787) 600
Other liabilities 1,555 215
Cash used in operating activities (9,439) (10,313)
Investing activities:    
Purchase of property and equipment (3,186) (3,046)
Proceeds from sale of fixed assets 0 696
Cash receipts from deferred purchase price of factored receivables 0 1,079
Cash used in investing activities (3,186) (1,271)
Financing activities:    
Payment of financing costs (307) (2)
Proceeds from issuance of long term debt 5,000 5,000
Repayments of long term debt 10,842 1,468
Borrowings under revolving credit agreement 45,975 45,799
Repayments of revolving credit agreement 25,358 37,842
Cash provided by financing activities 13,543 11,487
Net increase (decrease) in cash and cash equivalents 918 (97)
Cash and cash equivalents, beginning of period 553 601
Cash and cash equivalents, end of period 1,471 504
Noncash investing and financing items:    
Beneficial interest in transferred receivables (9) (1,788)
Supplemental cash flow information:    
Interest payments 578 593
Income tax payments, net of refunds 351 213
Payments for Hedge, Financing Activities $ (925) $ 0