XML 136 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
May 26, 2013
May 27, 2012
May 29, 2011
Cash flows from operating activities:      
Consolidated net income $ 22,812,000 $ 13,099,000 $ 4,261,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 7,295,000 5,621,000 5,313,000
Stock-based compensation expense 1,695,000 1,872,000 1,951,000
Deferred taxes 6,511,000 3,283,000 3,257,000
Change in investment in non-public company (fair market value) (8,100,000) (5,838,000) (662,000)
Increase in long-term receivable     (800,000)
Tax benefit from stock based compensation (1,302,000) (4,057,000) (764,000)
Net loss on disposal of property and equipment 217,000 12,000 26,000
Long-term receivable from Monsanto     800,000
Impairment charges     4,780,000
Changes in assets and liabilities, net of effects from acquisitions:      
Accounts receivable, net (4,121,000) (3,246,000) (3,016,000)
Accounts receivable, related party (348,000) 130,000 276,000
Income taxes receivable (3,754,000) 4,581,000 878,000
Inventories, net (2,102,000) (441,000) (4,054,000)
Issuance of notes and advances receivable (4,173,000) (3,699,000) (3,073,000)
Collection of notes and advances receivable 4,173,000 3,704,000 3,314,000
Prepaid expenses and other current assets (278,000) 3,588,000 602,000
Accounts payable 8,826,000 (544,000) 2,393,000
Related party accounts payable 10,000 476,000 (49,000)
Accrued compensation (798,000) 2,701,000 1,038,000
Other accrued liabilities (2,486,000) 3,434,000 532,000
Deferred revenue 1,086,000 (2,495,000) (1,734,000)
Net cash provided by operating activities 21,230,000 22,181,000 14,469,000
Cash flows from investing activities:      
Purchases of property and equipment (8,877,000) (5,371,000) (6,684,000)
Acquisition of GreenLine (Note 2)   (66,826,000)  
Purchase of marketable securities (4,959,000) (30,723,000) (59,833,000)
Proceeds from maturities and sale of marketable securities 0 27,700,000  
Investment in non-public company (fair market value)     (15,000,000)
Net cash used in investing activities (10,422,000) (44,073,000) (29,387,000)
Cash flows from financing activities:      
Repurchase of outstanding common stock   (5,006,000) (1,184,000)
Proceeds from sale of common stock 3,416,000 61,000 126,000
Taxes paid by Company for stock swaps and RSUs (49,000) (260,000) (218,000)
Tax benefit from stock-based compensation expense 1,302,000 4,057,000 764,000
Earn out payment from Lifecore acquisition (9,650,000)    
Net change in other assets/liabilities 712,000 (1,813,000) 49,000
Proceeds from long term debt   31,816,000  
Proceeds from lines of credit   12,766,000  
Payments on long term debt (7,012,000) (4,329,000) (3,940,000)
Payments on lines of credit (7,666,000) (1,100,000)  
Payments to non-controlling interest. (320,000) (258,000) (361,000)
Net cash provided by (used in) financing activities (19,267,000) 35,934,000 (4,764,000)
Net increase (decrease) in cash and cash equivalents (8,459,000) 14,042,000 (19,682,000)
Cash and cash equivalents at beginning of year 22,177,000 8,135,000 27,817,000
Cash and cash equivalents at end of year 13,718,000 22,177,000 8,135,000
Supplemental disclosure of cash flows information:      
Cash paid during the period for interest 1,728,000 952,000 761,000
Cash paid during the period for income taxes 5,605,000 246,000 146,000
Earnout [Member]
     
Adjustments to reconcile net income to net cash provided by operating activities:      
Earn out liability (3,933,000)    
Marketable Maturities [Member]
     
Cash flows from investing activities:      
Proceeds from maturities and sale of marketable securities 3,414,000 31,104,000 24,843,000
Marketable Sales [Member]
     
Cash flows from investing activities:      
Proceeds from maturities and sale of marketable securities   $ 27,743,000 $ 27,287,000