v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net income $ 1,604 $ 831
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,388 2,692
Amortization of debt discount 41 41
Provision for bad debt expense 252 136
Non-cash lease expense 47 24
Share-based compensation 1,834 1,724
Inventory reserve (178) 133
Provision for deferred income taxes 953 416
Other (277) (85)
(Increase) decrease in operating assets:    
Accounts receivable 2,799 4,961
Inventories (674) 902
Vendor deposits (1,459) (210)
Contract assets (8,873) 2,371
Other assets (2,153) (602)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 3,323 (1,076)
Accrued employee expenses 684 (1,168)
Customer deposits 2,062 3,257
Contract liabilities 2,117 (20)
Net cash provided by operating activities 5,490 14,327
Investing activities:    
Capital expenditures (1,934) (2,785)
Cash paid for acquisitions, net of cash acquired (4,818) (1,334)
Net cash used by investing activities (6,752) (4,119)
Financing activities:    
Proceeds from borrowings 37,500 8,000
Debt repayments (42,500) (18,930)
Repurchases of common stock in satisfaction of employee tax withholding obligations (629) (425)
Issuances of common stock under employee stock purchase plan 21 26
Net cash used by financing activities (5,608) (11,329)
Net decrease in cash (6,870) (1,121)
Cash at beginning of period 9,789 5,038
Cash at end of period 2,919 3,917
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 388 1,215
Cash paid during the period for income taxes 526 224
Supplemental disclosure of non-cash financing activities:    
Common stock issued for acquisitions 8,877 3,770
Forgiveness of PPP Loan $ 916

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