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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Operating activities:    
Net income $ 2,409,000 $ 4,166,000
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 3,933,000 4,977,000
Amortization of interest rate swap 226,000 201,000
Amortization of deferred loan costs 106,000 64,000
Provision for obsolete inventory 520,000 458,000
Provision for warranty 285,000 65,000
Provision for doubtful accounts 54,000 91,000
Share-based compensation expense 218,000 132,000
Deferred income taxes (1,040,000) 589,000
Changes in operating assets and liabilities:    
Trade receivables (27,565,000) (26,882,000)
Contract assets 1,338,000 4,318,000
Inventories (18,257,000) (15,834,000)
Other assets (1,550,000) 1,858,000
Accounts payable 32,350,000 2,928,000
Accrued compensation and vacation (2,812,000) (1,067,000)
Other liabilities (1,851,000) 6,252,000
Cash used in operating activities (11,636,000) (17,684,000)
Investing activities:    
Purchase of property and equipment (4,076,000) (9,655,000)
Proceeds from sale of fixed assets 2,000 0
Cash used in investing activities (4,074,000) (9,655,000)
Financing activities:    
Payment of financing costs (118,000) (580,000)
Proceeds from issuance of long term debt 9,393,000 11,000,000
Interest rate swap termination fee 0 (925,000)
Repayments of long term debt 1,603,000 11,292,000
Borrowings under revolving credit agreement 441,681,000 288,892,000
Repayments of revolving credit agreement 432,833,000 259,028,000
Principal payments on finance leases (2,561,000) 0
Cash provided by financing activities 13,959,000 28,067,000
Net (decrease) increase in cash and cash equivalents (1,751,000) 728,000
Cash and cash equivalents, beginning of period 3,473,000 553,000
Cash and cash equivalents, end of period 1,722,000 1,281,000
Supplemental cash flow information:    
Interest payments 3,647,000 2,512,000
Income tax payments, net of refunds 998,000 1,468,000
Recognition of operating lease liabilities and right-of-use assets 5,246 0
Recognition of financing lease liabilities and right-of-use assets $ 8,757 $ 0