XML 24 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 26, 2015
Dec. 27, 2014
Cash flows from operating activities:      
Net Income (loss) $ (30,249,000) $ (20,783,000) $ 10,561,000
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation 6,994,000 6,958,000 6,683,000
Amortization 330,000 548,000 1,204,000
Deferred financing fee amortization 1,489,000 960,000 159,000
Impairment of goodwill and intangible assets 15,446,000 9,277,000  
Provision for bad debts 87,000 229,000 17,000
Deferred income taxes 2,604,000 (6,868,000) 1,876,000
Excess income tax benefit from stock-based compensation     (332,000)
Stock-based compensation expense 1,650,000 1,489,000 1,697,000
Debt extinguishment costs   607,000  
(Gain) Loss on disposition of equipment (73,000) 60,000 118,000
Contingent consideration revaluation 267,000 261,000 (2,998,000)
Change in assets and liabilities:      
Accounts receivable 3,506,000 2,265,000 1,183,000
Inventories 9,619,000 (16,592,000) (22,103,000)
Other assets and liabilities 2,562,000 (5,414,000) 640,000
Accounts payable and accrued liabilities (5,458,000) 15,650,000 13,000
Net cash provided by (used in) operating activities 8,774,000 (11,353,000) (1,282,000)
Cash flows from investing activities:      
Purchase of property and equipment (12,738,000) (11,042,000) (11,835,000)
Proceeds from the sale of property and equipment 126,000 36,000  
Purchase of Willamette Valley Fruit Company     (800,000)
Purchase of Sin In A Tin     (158,000)
Payment of contingent consideration for Willamette Valley Fruit Company (340,000) (230,000) (450,000)
Payment of contingent consideration for Sin In A Tin (11,000) (4,000)  
Net cash used in investing activities (12,963,000) (11,240,000) (13,243,000)
Cash flows from financing activities:      
Net borrowings on U.S Bank line of credit   (18,802,000) 15,579,000
Net borrowings on Wells Fargo line of credit 6,810,000 25,951,000  
Payments made on capital lease obligations (19,000) (1,450,000) (334,000)
Borrowings on term loans 1,097,000 114,055,000 4,515,000
Repayments made on long term debt (2,204,000) (88,363,000) (5,896,000)
Payments of loan financing fees (2,992,000) (6,432,000) (198,000)
Settlement of interest rate swaps   (224,000)  
Proceeds from issuance of common stock under equity award plans 187,000 31,000 320,000
Excess income tax benefit from stock-based compensation     332,000
Payment of payroll taxes on stock-based compensation through shares withheld (233,000) (349,000) (208,000)
Net cash provided by financing activities 2,646,000 24,417,000 14,110,000
Net increase (decrease) in cash and cash equivalents (1,543,000) 1,824,000 (415,000)
Cash and cash equivalents at beginning of year 2,319,000 495,000 910,000
Cash and cash equivalents at end of year 776,000 2,319,000 495,000
Supplemental disclosures of cash flow information:      
Cash paid during the period for interest 8,324,000 4,794,000 1,950,000
Cash paid (refunded) during the period for income taxes $ (3,702,000) $ (681,000) $ 3,144,000