Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.3.0.814
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 27, 2015
Sep. 28, 2014
Cash flows from operating activities:    
Net income $ 12,677 $ 9,184
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,422 7,418
Amortization of loan origination costs 34 34
Stock-based compensation 1,255 731
Excess tax benefit from stock-based compensation (109) (523)
Loss on disposal of property and equipment 90 29
Amortization of deferred lease incentives (1,233) (932)
Deferred income taxes 3,972 2,937
Changes in operating assets and liabilities:    
Accounts receivable 264 (101)
Inventories (86) (143)
Prepaid expenses and other current assets (812) (467)
Accounts payable (2,427) (1,658)
Accrued liabilities and deferred rent 4,515 1,457
Deferred lease incentives 6,223 3,266
Net cash provided by operating activities 33,785 21,232
Cash flows from investing activities:    
Purchase of property and equipment (18,097) (26,369)
Purchase of other assets (315) (287)
Net cash used in investing activities (18,412) (26,656)
Cash flows from financing activities:    
Borrowings under revolving line of credit 1,000 4,250
Payments under revolving line of credit (9,750) (1,500)
Excess tax benefit from stock-based compensation 109 523
Proceeds from the exercise of stock options 105 321
Indirect repurchase of shares for minimum tax withholdings (54) 0
Net cash provided by (used in) financing activities (8,590) 3,594
Net increase (decrease) in cash and cash equivalents 6,783 (1,830)
Cash and cash equivalents, beginning of period 3,815 5,323
Cash and cash equivalents, end of period 10,598 3,493
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 2,627 1,348
Supplemental cash flow disclosures:    
Cash paid for interest 87 125
Cash paid for income taxes $ 2,323 $ 562