v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net income $ 4,095 $ 8,384
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation and amortization 5,209 4,596
Amortization of debt discount 133 55
Provision for bad debt expense 446 326
Non-cash lease expense 136 55
Stock compensation 2,598 2,437
Inventory reserve (105) 116
(Benefit) provision for deferred income taxes (164) 1,593
Debt forgiveness (6,963)
Other (24) (230)
(Increase) decrease in operating assets:    
Accounts receivable (12,139) (4,481)
Inventories (20,396) 665
Vendor deposits (1,191) 909
Contract assets (1,172) 3,096
Other assets (433) (2,191)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 13,265 (798)
Accrued employee expenses 814 2,200
Customer deposits 9,755 1,251
Contract liabilities (2,725) 2,674
Net cash (used) provided by operating activities (1,898) 13,694
Investing activities:    
Capital expenditures (3,981) (2,824)
Cash paid for acquisitions, net of cash acquired (11,953) (4,818)
Net cash used by investing activities (15,934) (7,642)
Financing activities:    
Proceeds from borrowings 65,000 53,500
Debt repayments (49,000) (62,500)
Payment of debt issuance costs (166)
Repurchases of common stock in satisfaction of employee tax withholding obligations (205) (853)
Issuances of common stock under employee stock purchase plan 120 69
Net cash provided (used) by financing activities 15,749 (9,784)
Net (decrease) increase in cash (2,083) (3,732)
Cash at beginning of year 6,057 9,789
Cash at end of year 3,974 6,057
Supplemental information:    
Cash paid for interest 494 511
Cash paid for income taxes $ 430 $ 505
Supplemental disclosure of non-cash financing activities    
Common stock issued for acquisitions 4,331 8,877
Forgiveness of PPP Loans $ 6,963
Forgiveness of PPP Loan in connection with the YES acquisition $ 916

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