Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Operating activities    
Net income (loss) $ 2,103 $ (2,722)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 2,957 2,379
Amortization of intangible assets 28 28
Share-based compensation expense 3,992 3,573
Amortization of deferred financing costs 4 5
Changes in operating assets and liabilities:    
Accounts receivable (1,445) (3,417)
Inventory (19,087) (8,627)
Other current assets (998) (1,903)
Other non-current assets (503) 554
Accounts payable and accrued expenses 18,296 21,265
Other current liabilities (136) 2,364
Right-of-use obligation - operating leases - current 125 (72)
Right-of-use obligation - operating leases - long-term (1) (44)
Other non-current liabilities (98) (338)
Net cash provided by operating activities 5,266 13,051
Investing activities    
Additions to property and equipment (3,760) (2,630)
Net cash used in investing activities (3,760) (2,630)
Financing activities    
Borrowings from revolving loan payable 5,032 69
Payments made on revolving loan payable (32) (69)
Payments on finance leases (844) (476)
Net proceeds from issuance of common stock for ESPP 431  
Statutory tax withholding payment for share-based compensation   (3)
Proceeds from exercise of stock options 792 163
Net cash provided by (used in) financing activities 5,379 (316)
Effect of exchange rate changes on cash 6 (11)
Net change in cash and cash equivalents 6,891 10,094
Cash and cash equivalents, beginning of period 18,144 35,802
Cash and cash equivalents, end of period 25,035 45,896
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use operating asset acquired   17
Right-of-use finance asset acquired 3,206 1,936
Accrued asset purchases 1,560 1,877
Share-based compensation expense capitalized in property and equipment 314 507
Stock issued for services 81  
Supplemental disclosure of cash flow information:    
Cash paid (received) during the period for income taxes 15 (135)
Cash paid during the period for interest 306 287
Director    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock awards issued for non-employee director service 6 $ 6
Officers and directors    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock awards issued for non-employee director service $ 23