Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income $ 2,847 $ 2,019
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation and amortization 1,446 1,236
Amortization of debt discount 3 13
Provision for bad debt expense 103 108
Non-cash lease expense (14) 100
Stock compensation 680 479
Inventory reserve (136) (31)
(Benefit) provision for deferred income taxes 132 (162)
Other (36) (14)
(Increase) decrease in operating assets:    
Accounts receivable (1,239) (4,889)
Inventories (4,162) (3,895)
Vendor deposits (101) (43)
Contract assets (3,849) 222
Other assets (609) (759)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 113 (2,453)
Accrued employee expenses 776 (318)
Customer deposits (1,652) 983
Contract liabilities (507) (3,032)
Net cash used by operating activities (6,205) (10,436)
Investing activities:    
Capital expenditures (771) (848)
Cash paid for acquisitions, net of cash acquired (1,224)
Net cash used by investing activities (1,995) (848)
Financing activities:    
Proceeds from long-term debt 15,000 15,000
Debt repayments (7,000) (7,000)
Net cash provided by financing activities 8,000 8,000
Net decrease in cash (200) (3,284)
Cash at beginning of period 3,974 6,057
Cash at end of period 3,774 2,773
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 371 98
Cash paid during the period for income taxes $ 794 $ 18