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
 6 Months Ended
Jun. 28, 2015
Jun. 29, 2014
Cash flows from operating activities:    
Net income $ 8,608 $ 6,078
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,192 4,755
Amortization of loan origination costs 22 22
Stock-based compensation 805 399
Excess tax benefit from stock-based compensation (67) (537)
Loss on disposal of property and equipment 87 18
Amortization of deferred lease incentives (804) (581)
Deferred income taxes 2,284 2,114
Changes in operating assets and liabilities:    
Accounts receivable 238 (210)
Inventories (117) (145)
Prepaid expenses and other current assets (575) (528)
Accounts payable (1,409) (244)
Accrued liabilities and deferred rent 3,897 695
Deferred lease incentives 3,995 2,600
Net cash provided by operating activities 23,156 14,436
Cash flows from investing activities:    
Purchase of property and equipment (10,563) (17,443)
Purchase of other assets (128) (216)
Net cash used in investing activities (10,691) (17,659)
Cash flows from financing activities:    
Borrowings under revolving line of credit 1,000 3,000
Payments under revolving line of credit (9,750) (1,500)
Excess tax benefit from stock-based compensation 67 537
Proceeds from the exercise of stock options 91 302
Indirect repurchase of shares for minimum tax withholdings (54) 0
Net cash provided by (used in) financing activities (8,646) 2,339
Net increase (decrease) in cash and cash equivalents 3,819 (884)
Cash and cash equivalents, beginning of period 3,815 5,323
Cash and cash equivalents, end of period 7,634 4,439
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 1,746 1,592
Supplemental cash flow disclosures:    
Cash paid for interest 80 79
Cash paid for income taxes $ 1,966 $ 471