v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Operating activities:    
Consolidated net earnings $ 20,034 $ 13,294
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 11,272 10,212
Amortization of deferred financing fees 244 244
Provision for inventory market reserves 1,484 1,447
Change in reserves for allowances on accounts receivable, net (160) (511)
Provision for deferred income taxes 488 912
Non-cash stock compensation 1,756 1,396
Loss (gain) on disposal of equipment 348 (2)
Other, net (2,263) (1,672)
Changes in operating assets and liabilities:    
Accounts receivable, net (1,251) (5,458)
Inventories, net (67,452) (8,244)
Prepaid expenses and other current assets 602 (2,136)
Other non-current assets 199 1,264
Accounts payable 23,390 (5,191)
Accrued expenses (1,737) 3,592
Net operating lease liabilities 409 543
Income taxes 264 1,939
Other liabilities (1,049) (626)
Net cash (used in) provided by operating activities (13,422) 11,003
Investing activities:    
Purchases of property and equipment (10,931) (1,676)
Proceeds from equipment purchased under finance leases 0 2,312
Proceeds from sale of equipment 33 422
Cash paid for intangible asset (132) (6,655)
Cash paid for business (583) (2,527)
Net cash used in investing activities (11,613) (8,124)
Financing activities:    
Proceeds from long-term debt 411,600 346,841
Repayment of long-term debt (383,919) (346,131)
Repayment of finance lease obligations (5,604) (5,415)
Payment of contingent consideration 0 (2,110)
Payment of deferred financing cost (850)
Repurchase of common stock (3,934) 0
Payment of withholding taxes on stock awards (1,092) (1,133)
Net cash provided by (used in) financing activities 16,201 (7,948)
Net decrease in cash and cash equivalents (8,834) (5,069)
Cash and cash equivalents at beginning of period 9,376 16,458
Cash and cash equivalents at end of period 542 11,389
Supplemental cash flow information    
Finance lease assets exchanged for finance lease liabilities 10,381 12,290
Operating lease assets exchanged for operating lease liabilities $ 6,869 $ 1,032

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