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, unless otherwise specified
 9 Months Ended
Mar. 31, 2012
Apr. 02, 2011
Operating activities:    
Net (loss) income $ (7,258) $ 8,794
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 5,503 5,411
Amortization of deferred financing fees 271 210
Excess tax benefits from exercise of stock options (529) (100)
(Benefit from) provision for deferred income taxes (5,372) 693
Loss on disposal of property and equipment 61 56
Non-cash stock compensation 1,250 736
Change in the fair value of contingent consideration 0 (1,530)
Goodwill impairment charge 0 612
Inventory write down 16,195 0
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable 3,117 (8,083)
Inventories (36,994) (29,572)
Prepaid expenses and other current assets (487) (960)
Income taxes (3,118) (196)
Other non-current assets 111 57
Accounts payable (3,432) 12,991
Accrued expenses (8,362) 441
Other liabilities 87 (54)
Net cash used in operating activities (38,957) (10,494)
Investing activities:    
Purchases of property and equipment, net (5,161) (5,978)
Cash paid for business, net of cash acquired 0 (9,884)
Net cash used in investing activities (5,161) (15,862)
Financing activities:    
Proceeds from long-term debt 427,011 379,260
Repayment of long-term debt (381,170) (351,574)
Repurchase of common stock (2,289) (1,702)
Cash used, net of proceeds, from net settlement exercise of stock options (54) 217
Excess tax benefits from exercise of stock options 529 100
Net cash provided by financing activities 44,027 26,301
Net decrease in cash and cash equivalents (91) (55)
Cash and cash equivalents at beginning of period 656 687
Cash and cash equivalents at end of period 565 632
Supplemental cash flow information:    
Cash paid for interest 2,447 1,598
Cash paid for income taxes 2,348 2,773
Non-cash financing activity—issuance of common stock $ 142 $ 98