Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 25, 2022
Jun. 26, 2021
Cash flows from operating activities:    
Net income (loss) $ 6,929 $ (12,355)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 58,513 61,934
Deferred income taxes 8,230 (4,709)
Deferred financing and original issue discount amortization 2,598 1,800
Stock-based compensation expense 8,304 3,537
Change in fair value of contingent consideration (3,646) (1,212)
Other non-cash interest and change in fair value of interest rate swap 0 (1,424)
Changes in operating items:    
Accounts receivable, net (25,163) (23,547)
Inventories, net (42,973) (73,049)
Other assets (4,125) (15,786)
Accounts payable 1,502 22,443
Other accrued liabilities 4,501 (17,471)
Net cash provided by (used for) operating activities 14,670 (59,839)
Cash flows from investing activities:    
Acquisition of business, net of cash received (2,500) (39,102)
Capital expenditures (28,921) (22,684)
Net cash used for investing activities (31,421) (61,786)
Cash flows from financing activities:    
Repayments of senior term loans (4,256) (5,304)
Borrowings on senior term loans 0 35,000
Financing fees 0 (1,027)
Borrowings on revolving credit loans 121,000 128,000
Repayments of revolving credit loans (97,000) (42,000)
Principal payments under finance lease obligations (556) (460)
Proceeds from exercise of stock options 1,149 1,761
Net cash provided by financing activities 19,393 115,970
Effect of exchange rate changes on cash 476 390
Net increase (decrease) in cash and cash equivalents 3,118 (5,265)
Cash and cash equivalents at beginning of period 14,605 21,520
Cash and cash equivalents at end of period 17,723 16,255
Supplemental disclosure of cash flow information:    
Income taxes paid 1,851 1,740
11.6% Junior Subordinated Debentures - Preferred    
Supplemental disclosure of cash flow information:    
Interest paid 0 6,115
All Debt Excluding 11.6% Subordinated Debentures    
Supplemental disclosure of cash flow information:    
Interest paid $ 20,062 $ 34,439