XML 16 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows from Operating Activities    
Net income $ 2,304,000 $ 8,054,000
Non-cash items included in net income:    
Depreciation and amortization 5,689,000 4,903,000
Intangible asset impairment 479,000
Deferred income taxes (947,000) (126,000)
Deferred compensation plan 196,000 328,000
Stock compensation expense 2,292,000 2,542,000
Issuance of common shares as compensation 331,000 168,000
(Gain) loss on disposition of fixed assets 52,000 (87,000)
(Gain) on sale of building (1,361,000)
Fixed asset impairment and accelerated depreciation 354,000
Allowance for doubtful accounts 248,000 162,000
Inventory obsolescence reserve 981,000 1,351,000
Changes in certain assets and liabilities, net of acquisition:    
Accounts receivable 5,189,000 5,588,000
Inventories 3,190,000 (4,440,000)
Refundable income taxes (143,000) (531,000)
Accounts payable (965,000) (3,176,000)
Accrued expenses and other (5,119,000) 812,000
Customer prepayments 174,000 (310,000)
Net cash flows provided by operating activities 12,944,000 15,238,000
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (3,534,000) (8,410,000)
Acquisition of business, net of cash received and warrants issued (95,077,000)
Proceeds from sale of fixed assets 3,081,000 124,000
Net cash flows (used in) investing activities (95,530,000) (8,286,000)
Cash Flows from Financing Activities    
Payments of long-term debt (14,882,000)
Borrowings of long-term debt 69,649,000
Cash dividends paid (3,772,000) (2,959,000)
Exercise of stock options 2,401,000 3,604,000
Purchase of treasury shares (446,000) (317,000)
Issuance of treasury shares 176,000 90,000
Net cash flows provided by financing activities 53,126,000 418,000
Increase (decrease) in cash and cash equivalents (29,460,000) 7,370,000
Cash and cash equivalents at beginning of period 33,835,000 26,409,000
Cash and cash equivalents at end of period $ 4,375,000 $ 33,779,000