v3.20.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities:    
Net income $ 979 $ 843
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,157 1,730
Amortization of debt discount 28 28
Provision for bad debt expense 165 101
Non-cash lease expense 41 30
Share-based compensation 1,194 915
Inventory reserve (79) 94
Provision for deferred income taxes 1,041 336
Other 84
(Increase) decrease in operating assets:    
Accounts receivable 3,035 7,209
Inventories 508 (2,270)
Vendor deposits 130 300
Contract assets (5,991) 1,004
Other assets (2,262) (971)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses (593) (2,412)
Accrued employee expenses (246) (38)
Customer deposits 4,498 1,808
Contract liabilities 2,736 901
Net cash provided by operating activities 7,425 9,608
Investing activities:    
Capital expenditures (1,436) (2,165)
Cash paid for acquisitions, net of cash acquired (4,475) (474)
Net cash used by investing activities (5,911) (2,639)
Financing activities:    
Proceeds from borrowings 25,500 4,000
Debt repayments (31,500) (9,800)
Repurchases of common stock in satisfaction of employee tax withholding obligations (346) (309)
Issuances of common stock under employee stock purchase plan 21 26
Net cash used by financing activities (6,325) (6,083)
Net (decrease) increase in cash (4,811) 886
Cash at beginning of period 9,789 5,038
Cash at end of period 4,978 5,924
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 287 870
Cash paid during the period for income taxes 477 136
Supplemental disclosure of non-cash financing activities:    
Common stock issued for acquisitions $ 8,521 $ 1,294

Source