Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2017
Mar. 31, 2016
Operating activities    
Net income $ 11,128 $ 7,101
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,933 6,125
Loss on asset disposals 0 47
Amortization of tenant improvement allowances (755) (605)
Deferred income taxes 5,453 132
Stock based compensation expense 885 755
Changes in operating assets and liabilities:    
Receivables, net 1,150 5,135
Inventories, net (22,838) (12,373)
Other assets (2,755) (96)
Trade accounts payable 47,473 1,943
Accrued expenses (7,073) 2,237
Income taxes 699 4,370
Deferred revenue 6,470 3,457
Deferred rent 2,785 437
Tenant improvement allowances 4,495 517
Other 24 26
Net cash provided by operating activities 56,074 19,208
Investing activities    
Purchases of fixed assets (19,801) (13,915)
Net cash used in investing activities (19,801) (13,915)
Financing activities    
Borrowings on revolving line of credit 25,300 46,150
Payments on revolving line of credit (60,800) (51,050)
Payments on term loans (875) (367)
Debt issuance costs 0 (17)
Proceeds from exercise of stock options 96 34
Net cash used in financing activities (36,279) (5,250)
Net (decrease) increase in cash and cash equivalents (6) 43
Cash and cash equivalents, beginning of the period 451 318
Cash and cash equivalents, end of the period 445 361
Supplemental disclosures of cash flow information    
Cash paid for interest 7,945 1,752
Cash paid for income taxes 0 20
Fixed assets accrued at the end of the period $ 7,372 $ 6,964