v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Operating activities:    
Consolidated net earnings $ 13,796 $ 5,144
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 7,434 6,695
Amortization of deferred financing fees 162 162
Provision for inventory market reserves 1,290 533
Provision for deferred income taxes 583 826
Non-cash stock compensation 854 954
Loss (gain) on disposal of equipment 383 (2)
Other, net (1,180) (252)
Changes in operating assets and liabilities:    
Accounts receivable, net (10,524) (5,487)
Inventories, net (37,278) (3,548)
Prepaid expenses and other current assets (66) (1,539)
Other non-current assets 1,014 404
Accounts payable 11,742 (2,373)
Accrued expenses (3,215) (1,808)
Net operating lease liabilities 243 470
Income taxes 1,352 721
Other liabilities (1,049) (145)
Net cash (used in) provided by operating activities (14,459) 755
Investing activities:    
Purchases of property and equipment (7,670) (1,215)
Proceeds from equipment purchased under finance leases 33 2,312
Proceeds from sale of equipment 0 247
Cash paid for intangible asset (109) 0
Cash paid for business (583) (1,679)
Net cash used in investing activities (8,329) (335)
Financing activities:    
Proceeds from long-term debt 265,034 224,729
Repayment of long-term debt (243,483) (221,993)
Repayment of finance lease obligations (3,630) (3,820)
Payment of contingent consideration 0 (2,110)
Repurchase of common stock (2,989) 0
Payment of withholding taxes on stock awards (1,092) (1,133)
Net cash provided by (used in) financing activities 13,840 (4,327)
Net decrease in cash and cash equivalents (8,948) (3,907)
Cash and cash equivalents at beginning of period 9,376 16,458
Cash and cash equivalents at end of period 428 12,551
Supplemental cash flow information    
Finance lease assets exchanged for finance lease liabilities 5,379 11,818
Operating lease assets exchanged for operating lease liabilities $ 4,397 $ 47

Source