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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Oct. 02, 2021
Sep. 26, 2020
Operating activities:    
Net income $ 815,000 $ 1,719,000
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 1,335,000 1,752,000
Amortization of interest rate swap 75,000 0
Amortization of deferred loan costs 32,000 13,000
Provision for obsolete inventory 138,000 178,000
Provision for warranty 75,000 19,000
Provision for doubtful accounts 26,000 0
Share-based compensation expense 68,000 63,000
Deferred income taxes (220,000) (81,000)
Changes in operating assets and liabilities:    
Trade receivables (16,155,000) (5,449,000)
Contract assets 1,130,000 (705,000)
Inventories (5,940,000) (4,949,000)
Other assets (7,092,000) 292,000
Accounts payable 18,835,000 (1,059,000)
Accrued compensation and vacation (2,995,000) (2,787,000)
Other liabilities (4,753,000) 1,555,000
Cash used in operating activities (14,626,000) (9,439,000)
Investing activities:    
Purchase of property and equipment (1,791,000) (3,186,000)
Cash used in investing activities (1,791,000) (3,186,000)
Financing activities:    
Payment of financing costs (80,000) (307,000)
Proceeds from issuance of long term debt 5,055,000 5,000,000
Interest rate swap termination fee 0 (925,000)
Repayments of long term debt 532,000 10,842,000
Borrowings under revolving credit agreement 151,916,000 45,975,000
Repayments of revolving credit agreement 141,470,000 25,358,000
Principal payments on finance leases (401,000) 0
Cash provided by financing activities 14,488,000 13,543,000
Net (decrease) increase in cash and cash equivalents (1,929,000) 918,000
Cash and cash equivalents, beginning of period 3,473,000 553,000
Cash and cash equivalents, end of period 1,544,000 1,471,000
Noncash investing and financing items:    
Beneficial interest in transferred receivables 0 (9,000)
Supplemental cash flow information:    
Interest payments 999,000 578,000
Income tax payments, net of refunds 210,000 351,000
Recognition of operating lease liabilities and right-of-use assets 4,695 0
Recognition of financing lease liabilities and right-of-use assets $ 4,456 $ 0