XML 17 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Dec. 30, 2023
Dec. 31, 2022
Operating activities:    
Net income $ 1,419,000 $ 2,119,000
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 5,498,000 4,658,000
Amortization of interest rate swap 97,000 211,000
Amortization of deferred loan costs 137,000 51,000
Noncash lease expense 2,928,000 3,128,000
Inventory write-down to net realizable value 2,000 355,000
Provision for warranty 138,000 266,000
Provision for doubtful accounts 49,000 22,000
Gain on disposal of assets (36,000) (123,000)
Gain on insurance proceeds, net of losses (431,000) (3,644,000)
Share-based compensation expense 111,000 102,000
Deferred income taxes (1,213,000) (120,000)
Changes in operating assets and liabilities:    
Trade receivables 15,708,000 1,564,000
Contract assets 2,155,000 (6,355,000)
Inventories 13,806,000 (16,362,000)
Other assets 417,000 (650,000)
Accounts payable (24,541,000) 19,310,000
Accrued compensation and vacation (7,675,000) (4,023,000)
Other liabilities 511,000 (10,540,000)
Cash provided by (used in) operating activities 9,080,000 (10,031,000)
Investing activities:    
Purchase of property and equipment (2,609,000) (3,859,000)
Proceeds from insurance 2,249,000 3,500,000
Cash used in investing activities (360,000) (359,000)
Financing activities:    
Payment of financing costs (625,000) 0
Proceeds from issuance of long term debt 1,161,000 0
Repayments of long term debt (1,457,000) (1,089,000)
Borrowings under revolving credit agreement 272,755,000 289,330,000
Repayments of revolving credit agreement (278,643,000) (276,778,000)
Principal payments on finance leases (2,561,000) (1,970,000)
Cash (used in) provided by financing activities (9,370,000) 9,493,000
Net decrease in cash and cash equivalents (650,000) (897,000)
Cash and cash equivalents, beginning of period 3,603,000 1,707,000
Cash and cash equivalents, end of period 2,953,000 810,000
Supplemental cash flow information:    
Interest payments 6,015,000 3,712,000
Income tax payments, net of refunds 1,602,000 776,000
Recognition of operating lease liabilities and right-of-use assets 3,575,000 5,049,000
Recognition of financing lease liabilities and right-of-use assets $ 0 $ 0