Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.20.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 29, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net (loss) income $ (12,404) $ 3,217
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 5,289 5,077
Amortization of operating lease assets 3,307 3,228
Amortization of loan origination costs 8 8
Loss on asset impairment 18,277 0
Stock-based compensation 856 750
Loss on disposal of property and equipment 196 181
Deferred income taxes (4,567) (274)
Changes in operating assets and liabilities:    
Accounts receivable 469 597
Lease incentive receivable (150) 315
Income tax receivable and payable (1,746) 388
Inventories 138 (40)
Prepaid expenses and other current assets (733) (1,853)
Accounts payable 1,181 (2,603)
Accrued liabilities (5,737) 1,943
Operating lease liabilities (3,789) (3,275)
Net cash provided by operating activities 595 7,659
Cash flows from investing activities:    
Purchase of property and equipment (5,498) (5,866)
Purchase of other assets (100) (53)
Net cash used in investing activities (5,598) (5,919)
Cash flows from financing activities:    
Borrowings under revolving line of credit 25,000 5,000
Payments under revolving line of credit 0 (5,000)
Repurchase of shares of common stock (1,422) (1,817)
Proceeds from the exercise of stock options 0 34
Indirect repurchase of shares for minimum tax withholdings (626) (811)
Net cash provided by (used in) financing activities 22,952 (2,594)
Net increase (decrease) in cash and cash equivalents 17,949 (854)
Cash and cash equivalents, beginning of period 10,074 8,199
Cash and cash equivalents, end of period 28,023 7,345
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 762 174
Supplemental cash flow disclosures:    
Cash paid for interest 30 17
Cash paid for income taxes $ 829 $ 0