Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income $ 831 $ 2,527
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation and amortization 2,692 1,894
Amortization of debt discount 41 82
Provision for bad debt expense 136 181
Non-cash lease expense 24
Share-based compensation 1,724 1,287
Inventory reserve 133 125
Provision for deferred income taxes 416 234
Other (85)
(Increase) decrease in operating assets:    
Accounts receivable 4,961 (4,847)
Inventories 902 (5,759)
Vendor deposits (210) (438)
Contract assets 2,371 (2,445)
Other assets (602) (1,384)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses (1,076) 2,899
Accrued employee expenses (1,168) (1,600)
Customer deposits 3,257 (2,629)
Contract liabilities (20) 255
Net cash provided (used) by operating activities 14,327 (9,618)
Investing activities:    
Capital expenditures (2,785) (1,741)
Cash paid for acquisitions, net of cash acquired (1,334) (12,542)
Net cash used by investing activities (4,119) (14,283)
Financing activities:    
Dividends paid (1,619)
Proceeds from borrowings 8,000 110,963
Debt repayments (18,930) (79,435)
Payment of debt issuance costs (272)
Repurchases of common stock in satisfaction of employee tax withholding obligations (425) (359)
Issuances of common stock under employee stock purchase plan 26 23
Net cash (used) provided by financing activities (11,329) 29,301
Net (decrease) increase in cash and cash equivalents (1,121) 5,400
Cash and cash equivalents at beginning of period 5,038 1,330
Cash and cash equivalents at end of period 3,917 6,730
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 1,215 799
Cash paid during the period for income taxes 224 1,354
Supplemental disclosure of non-cash financing activities:    
Common stock issued for acquisitions $ 3,770 $ 21,290