Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 29, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income $ 6,078 $ 5,801
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,755 4,094
Amortization of loan origination costs 22 23
Stock-based compensation 399 236
Excess tax benefit from stock-based compensation (537) 0
Loss on disposal of property and equipment 18 16
Amortization of deferred lease incentives (581) (560)
Deferred income taxes 2,114 2,052
Changes in operating assets and liabilities:    
Accounts receivable (210) 100
Inventories (145) (58)
Prepaid expenses and other current assets (528) (812)
Accounts payable (244) (1,025)
Accrued liabilities and deferred rent 695 (902)
Deferred lease incentives 2,600 2,213
Net cash provided by operating activities 14,436 11,178
Cash flows from investing activities:    
Purchase of property and equipment (17,443) (13,785)
Purchase of other assets (216) (136)
Net cash used in investing activities (17,659) (13,921)
Cash flows from financing activities:    
Borrowings under revolving line of credit 3,000 0
Payments under revolving line of credit 1,500 500
Excess tax benefit from stock-based compensation 537 0
Proceeds from the exercise of stock options 302 1,158
Net cash provided by financing activities 2,339 658
Net decrease in cash and cash equivalents (884) (2,085)
Cash and cash equivalents, beginning of period 5,323 5,855
Cash and cash equivalents, end of period 4,439 3,770
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 1,592 1,206
Supplemental cash flow disclosures:    
Cash paid for interest 79 76
Cash paid for income taxes $ 471 $ 541