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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,112 $ 4,148
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 573 438
Gain on collection of note receivable (952)
Gain on sale of investments (25) (356)
Non-cash lease expense 41
Gain on sale or disposal of equipment (5) (7)
Amortization of loan fees 9 7
Share-based compensation 286 37
Deferred income taxes (22) 1,418
Bad debt expense (recovery) 6 (14)
Changes in operating assets and liabilities:    
Accounts receivable (1,061) (1,131)
Deferred costs 275 (398)
Inventory (1,999) (1,846)
Prepaid expenses and other assets 476 (326)
Accounts payable, accrued expenses and deferred rent 604 1,133
Deferred revenue (15) 184
Income taxes payable 642 39
Net cash provided by operating activities 4,945 3,326
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of equipment and leasehold improvements (519) (1,387)
Proceeds from dividend reclassified as return of principal 15 23
Proceeds from sale of equipment 5 7
Proceeds from collection of notes receivable 952 1,219
Proceeds from sale of investments 128 1,905
Increase in intangibles (46) (11)
Purchase of investments (2,822) (2,978)
Net cash used in investing activities (2,287) (1,222)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on capital lease and note payable (630) (433)
Borrowing from Minnesota Bank & Trust, net of loan origination fees 4,940
Repurchases of common stock (3,388) (3,984)
Payments of employee taxes on net issuance of common stock (101)
Proceeds from exercise of stock options and ESPP contributions 39 28
Net cash provided by (used in) financing activities (3,979) 450
Net increase (decrease) in cash and cash equivalents (1,321) 2,554
Cash and cash equivalents, beginning of year 7,742 5,188
Cash and cash equivalents, end of year 6,421 7,742
Cash paid during the period for:    
Income taxes, net of refunds 683 320
Interest $ 218 $ 199