XML 20 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Feb. 26, 2017
Feb. 28, 2016
[1]
Cash flows from operating activities:    
Consolidated net income (loss) $ 8,213,000 $ (16,251,000)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,827,000 6,486,000
Stock-based compensation expense 2,842,000 2,581,000
Deferred taxes 3,437,000 (10,560,000)
Loss on early debt extinguishment 1,233,000
Change in investment in non-public company, fair value (700,000) (1,000,000)
Net loss (gain) on disposal of property and equipment 264,000 (20,000)
Impairment of GreenLine tradename 34,000,000
Changes in current assets and current liabilities:    
Accounts receivable, net 488,000 3,555,000
Inventories 2,262,000 (2,135,000)
Prepaid expenses and other current assets (137,000) (14,000)
Deposit for workers’ compensation collateral (100,000) (225,000)
Accounts payable (6,140,000) (9,918,000)
Accrued compensation 676,000 (2,536,000)
Other accrued liabilities 3,419,000 2,158,000
Deferred revenue (403,000) 309,000
Net cash provided by operating activities 23,181,000 6,430,000
Cash flows from investing activities:    
Purchases of property and equipment (9,488,000) (26,159,000)
Deposit on capital lease (850,000)
Proceeds from sales of fixed assets 74,000 127,000
Net cash used in investing activities (9,414,000) (26,882,000)
Cash flows from financing activities:    
Proceeds from sale of common stock 233,000 282,000
Taxes paid by Company for stock swaps and RSUs (385,000)
Proceeds from long-term debt 50,000,000 26,748,000
Payments on long-term debt (55,966,000) (12,150,000)
Proceeds from lines of credit 1,500,000 19,500,000
Payments on lines of credit (5,000,000) (19,500,000)
Payments for debt issuance costs (902,000)
Payments for early debt extinguishment penalties (233,000)
Payments to non-controlling interest (166,000) (248,000)
Other, net (8,000) (93,000)
Net cash (used in) provided by financing activities (10,927,000) 14,539,000
Net increase (decrease) in cash and cash equivalents 2,840,000 (5,913,000)
Cash and cash equivalents at beginning of period 9,894,000 [2] 14,127,000
Cash and cash equivalents at end of period 12,734,000 8,214,000
Supplemental disclosures of noncash investing and financing activities:    
Facility acquired under a capital lease $ 3,775,000
[1] See Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies for a discussion of accounting principles adopted during the period.
[2] Derived from audited financial statements. See Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies for discussion of accounting guidance adopted during the period.