Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jul. 02, 2011
Operating activities:      
Net earnings (loss) $ 9,184 $ (2,447) $ 17,327
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:      
Depreciation 7,407 6,884 6,644
Amortization of intangibles 607 608 613
Amortization of deferred financing fees 363 361 313
Excess tax benefits from exercise of stock options (34) (529) (84)
Provision for (benefit from) deferred income taxes 176 (1,107) 1,282
(Benefit from) provision for allowances on accounts receivable, net (513) 530 (354)
Non-cash stock compensation 865 1,730 1,056
Change in fair value of contingent consideration 0 0 (1,530)
Goodwill impairment charge 0 0 612
Loss on disposal of property and equipment 93 73 111
Fixed asset impairment charge 328 0 0
Inventory write down 0 16,195 0
Changes in operating assets and liabilities, net of effect of acquisitions:      
Accounts receivable (458) 2,435 (11,673)
Inventories 2,119 (18,619) (36,441)
Prepaid expenses and other current assets (358) 289 (411)
Other non-current assets (90) (19) 125
Accounts payable 4,152 (9,234) 20,897
Accrued expenses 1,818 (7,099) 4,109
Income taxes 6,592 (9,236) 341
Other liabilities (88) 84 (47)
Net cash provided by (used in) operating activities 32,163 (19,101) 2,890
Investing activities:      
Purchases of property and equipment (7,922) (6,626) (7,966)
Proceeds from sale of equipment 72 0 0
Cash paid for businesses, net of cash acquired 0 0 (9,884)
Net cash used in investing activities (7,850) (6,626) (17,850)
Financing activities:      
Proceeds from long-term debt 486,908 544,295 511,358
Repayment of long-term debt (503,094) (516,590) (492,658)
Payment of financing fees 0 0 (1,450)
Repurchase of common stock (7,817) (2,642) (2,507)
Proceeds from exercise of stock options 23 18 263
Payment of withholding taxes on exercise of stock options (236) (72) (161)
Excess tax benefits from exercise of stock options 34 529 84
Net cash (used in) provided by financing activities (24,182) 25,538 14,929
Net increase (decrease) in cash and cash equivalents 131 (189) (31)
Cash and cash equivalents at beginning of year 467 656 687
Cash and cash equivalents at end of year 598 467 656
Supplemental cash flow information:      
Cash paid during the year for interest 3,458 3,532 2,229
Cash (received) paid during the year for income taxes, net of refunds received (6,013) 2,370 3,922
Non-cash financing activity—issuance of common stock $ 0 $ 0 $ 98