Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.19.3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 29, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net (loss) income $ 7,645 $ 2,129
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,485 14,705
Amortization of operating lease assets (303) 0
Amortization of loan origination costs 25 25
Loss on asset impairment 7,114 12,336
Stock-based compensation 2,423 2,368
Loss on disposal of property and equipment 220 0
Amortization of deferred lease incentives 0 (2,143)
Deferred income taxes (2,494) (847)
Changes in operating assets and liabilities:    
Accounts receivable 855 1,746
Lease incentive receivable 1,239 5,519
Income tax receivable 603 (81)
Inventories (94) 122
Prepaid expenses and other current assets (3,087) (442)
Accounts payable (2,434) (2,160)
Accrued liabilities 5,343 1,588
Operating lease liabilities 89 0
Accrued deferred rent 0 2,225
Deferred lease incentives 0 1,759
Net cash provided by operating activities 32,629 38,849
Cash flows from investing activities:    
Purchase of property and equipment (21,487) (34,656)
Purchase of other assets (429) (216)
Net cash used in investing activities (21,916) (34,872)
Cash flows from financing activities:    
Borrowings under revolving line of credit 5,000 0
Payments under revolving line of credit (5,000) 0
Repurchase of shares of common stock (7,793) (1,618)
Proceeds from the exercise of stock options 218 454
Indirect repurchase of shares for minimum tax withholdings (861) (785)
Net cash used in financing activities (8,436) (1,949)
Net increase in cash and cash equivalents 2,277 2,028
Cash and cash equivalents, beginning of period 8,199 8,785
Cash and cash equivalents, end of period 10,476 10,813
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 734 0
Supplemental cash flow disclosures:    
Cash paid for interest 53 35
Cash paid for income taxes $ 593 $ 565