XML 21 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2016
Operating activities:      
Net income $ 30,969 $ 31,075 $ 20,295
Adjustments to reconcile net income to net cash provided by operating activities:      
Non-cash compensation expense 1,973 1,396 1,947
Non-cash compensation to directors 834 749 751
Non-cash litigation payable 0 (1,330) 3,268
Depreciation 7,656 4,550 3,339
Amortization of intangible assets 5,198 2,198 2,185
Gain on sale-leaseback transaction (10) (10) (10)
Amortization of deferred financing costs 1,232 243 244
Change in fair value of derivative (369) (912) 863
Deferred income taxes 45,793 9,577 5,176
Adjustment to tax receivable agreement liability (24,637) (8,140) 0
(Gain) loss on sale of equipment (60) 4 (29)
Change in operating assets and liabilities (excluding effects of acquisition):      
Trade receivables (12,181) 4,870 (5,211)
Inventories (6,336) (3,300) (52)
Prepaid expenses and other assets (447) (26) (859)
Accounts payable 4,612 (5,018) 7,003
Accrued expenses 6,547 5,829 1,388
Income taxes receivable and payable 1,723 253 (1,873)
Other liabilities 251 65 8
Payment pursuant to tax receivable agreement (4,293) (4,279) (2,831)
Litigation settlement 0 (1,938) 0
Net cash provided by operating activities 58,455 35,856 35,602
Investing activities:      
Purchases of property and equipment (10,449) (9,262) (6,176)
Proceeds from sale of property and equipment 145 16 186
Payment for acquisition, net of cash acquired (125,552) 0 0
Net cash used in investing activities (135,856) (9,246) (5,990)
Financing activities:      
Principal payments on long-term borrowings (50,000) (72,000) (6,500)
Proceeds from long-term borrowings 105,000 55,000 0
Payment of deferred financing costs (1,148) (926) 0
Proceeds from issuance of Class A Common Stock in offerings, net of underwriting discounts 55,317 0 0
Payment of costs directly associated with offerings (650) 0 0
Cash paid for tax withholdings (691) (258) (156)
Distributions to non-controlling LLC Unit holders (1,626) (1,535) (1,385)
Repurchase of common stock 0 0 (3,981)
Net cash provided by (used in) by financing activities 106,202 (19,719) (12,022)
Effect of exchange rate changes on cash 0 10 (56)
Changes in cash 28,801 6,901 17,534
Cash—Beginning of period 32,822 25,921 8,387
Cash—End of period 61,623 32,822 25,921
Supplemental cash flow information:      
Cash paid for interest 4,352 2,296 3,136
Cash paid for income taxes 9,887 7,175 8,122
Non-cash investing and financing activities:      
Establishment of deferred tax assets from step-up in tax basis 3,004 1,238 140
Establishment of amounts payable under tax receivable agreements 1,685 960 111
Equity issued as consideration for acquisition 1,000 0 0
Exchange of LLC Units for Class A Common Stock 920 2,789 39
Tax distributions payable to non-controlling LLC Unit holders 511 309 341
Capital expenditures in accounts payable $ 1,053 $ 1,598 $ 218