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
 9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Operating activities    
Net income $ (2,137) $ 5,273
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 12,596 9,671
Amortization of intangible assets 28 81
Share-based compensation expense 8,158 7,786
Stock awards issued for non-employee director service 17 17
Stock awards related to officers and directors stock purchase plan from payroll deferral 0 27
Gain from disposition of assets (75) (41)
Amortization of deferred financing costs 49 37
Changes in operating assets and liabilities:    
Accounts receivable (3,185) (4,624)
Inventory 11,616 (15,900)
Other current assets 1 (124)
Other non-current assets (199) (745)
Accounts payable and accrued expenses 31,208 4,524
Other current liabilities 386 (315)
Right-of-use obligation - operating leases - current 613 279
Right-of-use obligation - operating leases - long-term (723) (108)
Other non-current liabilities (488) (136)
Net cash provided by operating activities 57,865 5,702
Investing activities    
Additions to property and equipment (7,380) (10,546)
Proceeds from sale of property and equipment 83 44
Net cash used in investing activities (7,297) (10,502)
Financing activities    
Borrowings from revolving loan payable 159 10,351
Payments made on revolving loan payable (159) (5,351)
Payments on finance leases (3,592) (3,099)
Repurchase of treasury stock (2,151) 0
Net proceeds from issuance of common stock for ESPP 483 794
Proceeds from exercise of stock options 2,604 1,113
Net cash used in financing activities (2,656) 3,808
Effect of exchange rate changes on cash 0 (498)
Net change in cash and cash equivalents 47,912 (1,490)
Cash and cash equivalents, beginning of period 18,767 18,144
Cash and cash equivalents, end of period 66,679 16,654
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use finance asset acquired 784 7,889
Accrued asset purchases 658 859
Share-based compensation expense capitalized in property and equipment 589 1,051
Stock issued for services 0 81
Supplemental disclosure of cash flow information:    
Cash paid during the period for income taxes 180 175
Cash paid during the period for interest 999 1,011
Cash (received) paid during the period for interest (income) expense, net $ 1,365 $ 7