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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 27, 2023
May 28, 2022
May 29, 2021
Operating activities:      
Net income $ 22,333 $ 17,927 $ 1,655
Adjustments to reconcile net income to cash (used in) provided by operating activities:      
Depreciation and amortization 3,671 3,423 3,424
Inventory provisions 466 462 1,041
(Gain) loss on disposal of assets (7) 20 13
Share-based compensation expense 936 654 675
Deferred income taxes (138) (4,042) (1)
Change in assets and liabilities:      
Accounts receivable (363) (6,183) (4,198)
Inventories (30,452) (20,571) (4,861)
Prepaid expenses and other assets (519) (228) 103
Accounts payable (439) 7,671 (565)
Accrued liabilities (4,006) 2,420 3,572
Other 319 358 (26)
Net cash (used in) provided by operating activities (8,199) 1,911 832
Investing activities:      
Capital expenditures (7,378) (3,120) (2,632)
Proceeds from the sale of assets 194 0 0
Proceeds from maturity of investments 5,000 0 25,000
Purchases of investments 0 (5,000) (9,000)
Net cash (used in) provided by investing activities (2,184) (8,120) 13,368
Financing activities:      
Proceeds from issuance of common stock 3,778 2,992 289
Cash dividends paid on Common and Class B Common shares (3,320) (3,193) (3,122)
Other (69) (151) (181)
Net cash provided by (used in) financing activities 389 (352) (3,014)
Effect of exchange rate changes on cash and cash equivalents (520) (1,260) 1,595
(Decrease) increase in cash and cash equivalents (10,514) (7,821) 12,781
Cash and cash equivalents at beginning of period 35,495 43,316 30,535
Cash and cash equivalents at end of period 24,981 35,495 43,316
Cash paid during the fiscal year for:      
Income taxes $ 4,807 $ 1,484 $ 106