v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income $ 8,384 $ 775
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation and amortization 4,596 3,696
Amortization of debt discount 55 55
Provision for bad debt expense 326 497
Non-cash lease expense 55 18
Share-based compensation 2,437 2,302
Inventory reserve 116 49
Provision (benefit) for deferred income taxes 1,593 (178)
Debt forgiveness (6,963)
Other (230) (109)
(Increase) decrease in operating assets:    
Accounts receivable (4,481) 8,121
Inventories 665 3,969
Vendor deposits 909 (873)
Contract assets 3,096 (956)
Other assets (2,191) (356)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses (798) 5,568
Accrued employee expenses 2,200 (474)
Customer deposits 1,251 1,258
Contract liabilities 2,674 (296)
Net cash provided by operating activities 13,694 23,066
Investing activities:    
Capital expenditures (2,824) (3,375)
Cash paid for acquisitions, net of cash acquired (4,818) (1,379)
Net cash used by investing activities (7,642) (4,754)
Financing activities:    
Proceeds from borrowings 53,500 24,892
Debt repayments (62,500) (37,930)
Repurchases of common stock in satisfaction of employee tax withholding obligations (853) (573)
Issuances of common stock under employee stock purchase plan 69 50
Net cash used by financing activities (9,784) (13,561)
Net (decrease) increase in cash (3,732) 4,751
Cash at beginning of year 9,789 5,038
Cash at end of year 6,057 9,789
Supplemental information:    
Cash paid for interest 511 1,475
Cash paid for income taxes $ 505 $ 345
Supplemental disclosure of non-cash financing activities    
Common stock issued for acquisitions 8,877 3,770
Forgiveness of PPP Loans $ 6,963
Forgiveness of PPP Loan in connection with the YES acquisition $ 916

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