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
Oct. 01, 2011
Oct. 02, 2010
Operating activities    
Net income $ 4,519 $ 1,643
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation and amortization 981 1,062
Share-based compensation 333 336
Amortization of deferred gain (366) (366)
Amortization of debt issuance costs 142  
Reversal of deferred tax asset valuation allowance (917)  
Excess tax benefits related to share-based compensation (36)  
Other (4) 7
Changes in assets and liabilities:    
Accounts receivable (3,213) (1,807)
Inventories (2,440) 223
Other current assets (734) (283)
Other assets 240 (868)
Accounts payable and accrued expenses 3,250 3,336
Income taxes payable 1,487 (93)
Net cash flows provided by operating activities 3,242 3,190
Investing activities    
Purchase of property and equipment (1,530) (3,022)
Decrease (increase) in restricted cash 701 (1)
Proceeds from sale of property and equipment 9 11
Consolidation of AAP   31
Net cash flows used in investing activities (820) (2,981)
Financing activities    
Checks issued in excess of cash in bank (42) (410)
Net borrowings (payments) under line of credit (1,304) 273
Payments on debt obligations (8,062) (679)
Proceeds from issuance of debt obligations 9,400  
Proceeds from issuance of Common Stock, net of offering costs   1,721
Payment of debt issuance costs (669)  
Excess tax benefits related to share-based compensation 36  
Net cash flows provided by (used in) financing activities (641) 905
Effect of changes in exchange rate on cash and cash equivalents (146) 32
Increase in cash and cash equivalents 1,635 1,146
Cash and cash equivalents at beginning of period 3,065 2,799
Cash and cash equivalents at end of period 4,700 3,945
Supplemental disclosures of cash flow information    
Cash payments for interest 729 732
Cash payments for income taxes 721 488
Non-cash investing and financing activities    
Loan receivable exchanged for equity in AAP   375
Equipment acquired under capital leases and financing arrangements 253  
Consolidation of variable interest entity:    
Fair value of assets acquired   3,927
Assumed liabilities   $ 1,958