XML 70 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Aug. 26, 2012
Aug. 28, 2011
Consolidated net income $ 4,463,000 $ 1,953,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,856,000 1,355,000
Stock-based compensation expense 348,000 441,000
Tax benefit from stock-based compensation expense (505,000) (1,280,000)
Increase in long-term receivable   (200,000)
Loss on disposal of property and equipment 180,000  
Deferred taxes 1,942,000 (299,000)
Change in investment in non-public company (fair market value) (4,296,000) (52,000)
Accounts receivable, net 1,656,000 1,293,000
Accounts receivable, related party 55,000 40,000
Income taxes receivable 236,000 1,329,000
Inventories, net (1,532,000) 533,000
Issuance of notes and advances receivable   (752,000)
Collection of notes and advances receivable   5,000
Prepaid expenses and other current assets (260,000) 195,000
Accounts payable 4,080,000 1,413,000
Related party accounts payable (243,000) 71,000
Accrued compensation (1,824,000) (456,000)
Other accrued liabilities (1,435,000) 276,000
Deferred revenue 364,000 (1,507,000)
Net cash provided by operating activities 5,085,000 4,358,000
Purchases of property and equipment (2,029,000) (1,561,000)
Purchase of marketable securities (756,000) (18,163,000)
Proceeds from maturities of marketable securities   14,175,000
Net cash used in investing activities (2,785,000) (5,549,000)
Proceeds from sale of common stock 202,000  
Taxes paid by Company for stock swaps and RSUs (49,000) (25,000)
Tax benefit from stock-based compensation expense 505,000 1,280,000
Earn out payment from Lifecore acquisition (9,650,000)  
Payments on long-term debt (1,369,000) (1,000,000)
Payments on lines of credit (4,166,000)  
Decrease in other assets 99,000 43,000
Net cash (used in) provided by financing activities (14,428,000) 298,000
Net decrease in cash and cash equivalents (12,128,000) (893,000)
Cash and cash equivalents at beginning of period 22,177,000 8,135,000
Cash and cash equivalents at end of period 10,049,000 7,242,000
Long-term receivable from Monsanto   200,000
Unrealized (gain) loss from interest rate swap   $ 34,000