Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Cash Flows

v3.23.2
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Cash Flows from Operating Activities:    
Net Loss $ (16,414) $ (14,111)
Adjustments to Reconcile Net Loss to Cash Flows from Operating Activities:    
Depreciation and Amortization 13,373 14,088
Amortization of Deferred Financing Fees 1,363 0
Provisions for Non-Cash Losses on Inventory and Receivables 1,705 677
Equity-based Compensation Expense 3,992 3,721
Operating Lease Non-Cash Expense 2,563 2,928
Non-Cash Accrued 401K Contribution 2,536 2,197
Net Gain on Sale of Business, Before Taxes (3,427) (11,284)
Non-Cash Deferred Liability Recovery (5,824) 0
Other (1,275) 1,320
Changes in Operating Assets and Liabilities Providing (Using) Cash:    
Accounts Receivable (22,619) (11,449)
Inventories (22,638) (19,293)
Accounts Payable 14,081 11,660
Accrued Expenses 5,460 (458)
Other Current Assets and Liabilities 472 (3,030)
Customer Advance Payments and Deferred Revenue 959 (389)
Income Taxes 7,422 16,909
Operating Lease Liabilities (2,674) (3,601)
Supplemental Retirement Plan and Other Liabilities (206) (215)
Net Cash Used by Operating Activities (21,151) (10,330)
Cash Flows from Investing Activities:    
Proceeds from Sale of Business and Assets 3,427 21,977
Capital Expenditures (3,806) (2,493)
Net Cash (Used) Provided by Investing Activities (379) 19,484
Cash Flows from Financing Activities:    
Proceeds from Long-term Debt 131,732 52,625
Principal Payments on Long-term Debt (112,774) (79,625)
Stock Award Activity (601) 104
Finance Lease Principal Payments (24) (55)
Debt Acquisition Costs (6,388) (771)
Net Cash Provided (Used) by Financing Activities 11,945 (27,722)
Effect of Exchange Rates on Cash 101 (505)
Decrease in Cash and Cash Equivalents and Restricted Cash (9,484) (19,073)
Cash and Cash Equivalents and Restricted Cash at Beginning of Period 13,778 29,757
Cash and Cash Equivalents and Restricted Cash at End of Period $ 4,294 $ 10,684