v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 26, 2022
Mar. 27, 2021
Cash flows from operating activities:    
Net income (loss) $ (1,887) $ (8,970)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 28,775 31,250
Deferred income taxes 1,293 (5,955)
Deferred financing and original issue discount amortization 1,299 904
Stock-based compensation expense 6,018 1,741
Change in fair value of contingent consideration (1,470) 0
Other non-cash interest and change in fair value of interest rate swap 0 (673)
Changes in operating items:    
Accounts receivable, net (22,304) (15,155)
Inventories, net (29,529) (55,407)
Other assets (3,854) (5,405)
Accounts payable 9,910 18,485
Other accrued liabilities 8,169 (6,204)
Net cash used for operating activities (3,580) (45,389)
Cash flows from investing activities:    
Acquisition of business, net of cash received (2,500) 0
Capital expenditures (12,541) (9,077)
Net cash used for investing activities (15,041) (9,077)
Cash flows from financing activities:    
Repayments of senior term loans (2,128) (2,652)
Borrowings on revolving credit loans 70,000 62,000
Repayments of revolving credit loans (43,000) (14,000)
Principal payments under finance lease obligations (259) (227)
Proceeds from exercise of stock options 328 1,643
Net cash provided by financing activities 24,474 46,764
Payments for Derivative Instrument, Financing Activities (467) 0
Effect of exchange rate changes on cash (1,083) 94
Net increase (decrease) in cash and cash equivalents 4,770 (7,608)
Cash and cash equivalents at beginning of period 14,605 21,520
Cash and cash equivalents at end of period 19,375 13,912
Supplemental disclosure of cash flow information:    
Income taxes paid 370 8
11.6% Junior Subordinated Debentures - Preferred    
Supplemental disclosure of cash flow information:    
Interest paid 0 3,057
All Debt Excluding 11.6% Subordinated Debentures    
Supplemental disclosure of cash flow information:    
Interest paid $ 9,681 $ 22,156

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