Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating activities:    
Net income $ 2,061 $ 2,073
Adjustments to reconcile net income to net cash (used) provided by operating activities:    
Depreciation and amortization 1,255 547
Amortization of debt discount 68 9
Provision for bad debt expense 104 18
Share-based compensation 838 773
Inventory reserve 91 67
Provision (benefit) for deferred income taxes 131 (12)
(Increase) decrease in operating assets:    
Accounts receivable (10,985) 491
Inventories (3,347) (804)
Vendor deposits (237) 781
Contract assets 963 (2,181)
Other assets (1,492) (430)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 2,402 (4,140)
Accrued employee expenses (907) 385
Customer deposits (3,357) 3,505
Contract liabilities 2,557 (674)
Net cash (used) provided by operating activities (9,855) 408
Investing activities:    
Capital expenditures (1,200) (116)
Cash paid for acquisitions, net of cash acquired (7,231) (6,177)
Net cash used by investing activities (8,431) (6,293)
Financing activities:    
Proceeds from borrowings 99,963 33,434
Debt repayments (72,235) (26,788)
Payment of debt issuance costs (263)
Repurchases of common stock in satisfaction of employee tax withholding obligations (359) (303)
Issuances of common stock 23
Net cash provided by financing activities 27,129 6,343
Net increase in cash and cash equivalents 8,843 458
Cash and cash equivalents at beginning of period 1,330 727
Cash and cash equivalents at end of period 10,173 1,185
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 387 143
Cash paid during the period for income taxes 1,117 855
Supplemental disclosure of non-cash financing activities    
Common stock issued for acquisitions 14,633 9,028
Dividends payable $ 1,619 $ 1,403