Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 01, 2017
Apr. 02, 2016
Operating activities:    
Net income (loss) $ 1,945 $ (630)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 302 325
Amortization of debt issuance costs 53 42
Stock based compensation expense 23 38
Gain on sale of property (5,163) 0
Change in reserve for uncollectible accounts (26) 0
Change in deferred income taxes 477 0
Other (31) 0
Changes in assets and liabilities:    
Trade and other receivables 1,731 530
Prepaid expenses and other currrent assets 86 (153)
Inventories 3,111 1,456
Accounts payable and accrued liabilities (1,066) 1,610
Accrued income taxes 775 (303)
Net cash provided by operating activities 2,217 2,915
Investing activities:    
Purchases of property and equipment (70) (137)
Proceeds from sale of property and equipment, net 6,785 0
Increase in restricted cash (36) 0
Other (56) (4)
Net cash flows provided by (used in) investing activities 6,623 (141)
Financing activities:    
Net payments under line of credit (7,959) (2,256)
Proceeds from issuance of debt obligations 0 100
Payment of debt issuance costs 0 (125)
Payments on debt obligations (1,078) (138)
Net cash used in financing activities (9,037) (2,419)
Effect of changes in exchange rate on cash and cash equivalents 38 (1)
(Decrease) increase in cash and cash equivalents (159) 354
Cash and cash equivalents, beginning of period 968 1,969
Cash and cash equivalents, end of period 809 2,323
Supplemental cash flow disclosures:    
Interest paid 213 213
Income taxes paid 0 (5)
Non-cash investing and financing activities:    
Debt issuance costs related to credit agreement renewal $ 0 $ 63