Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2022
Jan. 01, 2022
Operating activities:    
Consolidated net (loss) earnings $ (3,599) $ 3,670
Adjustments to reconcile net (loss) earnings to net cash used in operating activities:    
Depreciation and amortization 3,844 3,629
Amortization of deferred financing fees 84 81
(Benefit from) provision for deferred income taxes (2,101) 754
Change in inventory market reserves 163 851
Non-cash stock compensation 665 140
Gain on disposal of equipment 58 2
Other, net (89) (390)
Changes in operating assets and liabilities:    
Accounts receivable 9,466 1,993
Inventories, net (10,516) (22,206)
Prepaid expenses and other current assets (1,443) (1,449)
Other non-current assets 1,188 699
Accounts payable (3,723) 7,584
Accrued expenses (5,030) (7,572)
Net operating lease liabilities (35) 206
Income taxes (854) (140)
Other liabilities   (1,050)
Net cash used in operating activities (11,922) (13,198)
Investing activities:    
Purchases of property and equipment (2,081) (1,822)
Proceeds from equipment under finance leases 4,417  
Cash paid for intangible asset   (51)
Cash paid for business   (583)
Net cash provided by (used in) investing activities 2,336 (2,456)
Financing activities:    
Proceeds from long-term debt 133,918 138,543
Repayment of long-term debt (121,431) (121,293)
Repayment of capital financing (2,332) (1,783)
Repurchase of common stock   (1,718)
Payment of withholding taxes on stock awards (542) (1,092)
Net cash provided by financing activities 9,613 12,657
Net increase (decrease) in cash and cash equivalents 27 (2,997)
Cash and cash equivalents at beginning of period 300 9,376
Cash and cash equivalents at end of period 327 6,379
Supplemental cash flow information    
Finance lease assets exchanged for finance lease liabilities 4,461 20
Operating lease assets exchanged for operating lease liabilities $ 1,807 $ 1,401