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
 3 Months Ended
Mar. 27, 2016
Mar. 29, 2015
Cash flows from operating activities:    
Net income $ 4,532 $ 3,235
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,477 2,998
Amortization of loan origination costs 8 11
Stock-based compensation 469 356
Excess tax benefit from stock-based compensation (183) (28)
Loss on disposal of property and equipment 0 68
Amortization of deferred lease incentives (490) (391)
Deferred income taxes 1,706 1,376
Changes in operating assets and liabilities:    
Accounts receivable 15 190
Inventories 116 21
Prepaid expenses and other current assets (1,293) 784
Accounts payable (3,341) (2,500)
Accrued liabilities and deferred rent (1,438) 348
Deferred lease incentives 1,103 2,085
Net cash provided by operating activities 4,681 8,553
Cash flows from investing activities:    
Purchase of property and equipment (8,255) (5,323)
Purchase of other assets (81) (47)
Net cash used in investing activities (8,336) (5,370)
Cash flows from financing activities:    
Borrowings under revolving line of credit 2,000 1,000
Payments under revolving line of credit (2,000) (1,250)
Excess tax benefit from stock-based compensation 183 28
Proceeds from the exercise of stock options 60 53
Indirect repurchase of shares for minimum tax withholdings (293) (50)
Net cash used in financing activities (50) (219)
Net (decrease) increase in cash and cash equivalents (3,705) 2,964
Cash and cash equivalents, beginning of period 8,529 3,815
Cash and cash equivalents, end of period 4,824 6,779
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 2,726 1,016
Supplemental cash flow disclosures:    
Cash paid for interest 8 51
Cash paid for income taxes $ 160 $ 273