Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 775 $ 3,743
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation and amortization 3,696 2,743
Amortization of debt discount 55 95
Provision for bad debt expense 497 283
Non-cash lease expense 18
Share-based compensation 2,302 1,740
Inventory reserve 49 86
(Benefit) provision for deferred income taxes (178) 861
Other (109)
(Increase) decrease in operating assets:    
Accounts receivable 8,121 (8,934)
Inventories 3,969 (4,335)
Vendor deposits (873) 203
Contract assets (956) (1,475)
Other assets (356) (988)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 5,568 2,381
Accrued employee expenses (474) 241
Customer deposits 1,258 (5,964)
Contract liabilities (296) 595
Net cash provided (used) by operating activities 23,066 (8,725)
Investing activities:    
Capital expenditures (3,375) (2,979)
Cash paid for acquisitions, net of cash acquired (1,379) (12,542)
Net cash used by investing activities (4,754) (15,521)
Financing activities:    
Dividends paid (1,619)
Proceeds from borrowings 24,892 112,963
Debt repayments (37,930) (82,435)
Payment of debt issuance costs (272)
Repurchases of common stock in satisfaction of employee tax withholding obligations (573) (728)
Issuances of common stock under employee stock purchase plan 50 45
Net cash (used) provided by financing activities (13,561) 27,954
Net increase in cash 4,751 3,708
Cash at beginning of year 5,038 1,330
Cash at end of year 9,789 5,038
Supplemental information:    
Cash paid for interest 1,475 1,231
Cash paid for income taxes $ 345 $ 1,737
Supplemental disclosure of non-cash financing activities    
Common stock issued for acquisitions 3,770 21,290