Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income $ 7,821 $ 2,587
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation and amortization 4,409 3,795
Amortization of debt discount 21 41
Provision for bad debt expense 523 231
Non-cash lease expense 95 138
Stock compensation 2,267 1,947
Inventory reserve (723) (274)
Provision (Benefit) for deferred income taxes 224 (51)
Other (183) (24)
(Increase) decrease in operating assets:    
Accounts receivable (12,759) (3,129)
Inventories (11,561) (13,476)
Vendor deposits (429) (1,485)
Contract assets 610 (10)
Other assets (1,845) (1,214)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 1,893 (829)
Accrued employee expenses 878 (1,170)
Customer deposits 1,950 10,081
Contract liabilities 161 (3,212)
Net cash used by operating activities (6,648) (6,054)
Investing activities:    
Capital expenditures (2,291) (3,066)
Cash paid for acquisitions, net of cash acquired (1,947) (3,187)
Net cash used by investing activities (4,238) (6,253)
Financing activities:    
Proceeds from long-term debt 62,000 46,000
Debt repayments (51,000) (34,000)
Repurchases of common stock in satisfaction of employee tax withholding obligations (125) (205)
Issuances of common stock under employee stock purchase plan 59 59
Net cash provided by financing activities 10,934 11,854
Net increase (decrease) in cash 48 (453)
Cash at beginning of period 3,974 6,057
Cash at end of period 4,022 5,604
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 1,670 320
Cash paid during the period for income taxes $ 1,622 $ 261
Supplemental disclosures of non-cash financing activities:    
Issuances of common stock for acquisitions (in Shares) 503 3,840