Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Operating activities    
Net income $ 380 $ 6,221
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 8,166 6,265
Amortization of intangible assets 20 55
Share-based compensation expense 6,696 4,498
Stock awards issued for non-employee director service 11 11
Stock awards related to officers and directors stock purchase plan from payroll deferral   27
Gain from disposition of assets (75) (17)
Amortization of deferred financing costs 32 21
Changes in operating assets and liabilities:    
Accounts receivable (1,090) (2,070)
Inventory 22,286 (24,165)
Other current assets (4) (1,739)
Other non-current assets 60 (741)
Accounts payable and accrued expenses 28,630 17,466
Other current liabilities 925 (109)
Right-of-use obligation - operating leases - current 380 (105)
Right-of-use obligation - operating leases - long-term (398) (20)
Other non-current liabilities 342 (139)
Net cash provided by operating activities 66,361 5,459
Investing activities    
Additions to property and equipment (4,669) (7,797)
Proceeds from sale of property and equipment 83 44
Net cash used in investing activities (4,586) (7,753)
Financing activities    
Borrowings from revolving loan payable 117 5,296
Payments made on revolving loan payable (117) (5,296)
Payments on finance leases (2,467) (1,966)
Repurchase of treasury stock (1,052)  
Net proceeds from issuance of common stock for ESPP 221 432
Proceeds from exercise of stock options 1,969 929
Net cash used in financing activities (1,329) (605)
Effect of exchange rate changes on cash   (21)
Net change in cash and cash equivalents 60,446 (2,920)
Cash and cash equivalents, beginning of period 18,767 18,144
Cash and cash equivalents, end of period 79,213 15,224
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use finance asset acquired   7,235
Accrued asset purchases 408 1,060
Share-based compensation expense capitalized in property and equipment 411 579
Stock issued for services   81
Supplemental disclosure of cash flow information:    
Cash paid during the period for income taxes 155 148
Cash (received) paid during the period for interest (income) expense, net $ (32) $ 653