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. 26, 2016
Jun. 28, 2015
Cash flows from operating activities:    
Net income $ 10,312 $ 8,608
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,184 6,192
Amortization of loan origination costs 16 22
Stock-based compensation 1,058 805
Excess tax benefit from stock-based compensation (2,540) (67)
Loss on disposal of property and equipment 37 87
Amortization of deferred lease incentives (1,001) (804)
Deferred income taxes 104 2,284
Changes in operating assets and liabilities:    
Accounts receivable 274 238
Inventories (23) (117)
Prepaid expenses and other current assets (2,234) (575)
Accounts payable (973) (1,409)
Accrued liabilities and deferred rent 7,374 3,897
Deferred lease incentives 2,519 3,995
Net cash provided by operating activities 22,107 23,156
Cash flows from investing activities:    
Purchase of property and equipment (20,029) (10,563)
Purchase of other assets (144) (128)
Net cash used in investing activities (20,173) (10,691)
Cash flows from financing activities:    
Borrowings under revolving line of credit 0 1,000
Payments under revolving line of credit 0 (9,750)
Excess tax benefit from stock-based compensation 2,540 67
Proceeds from the exercise of stock options 1,077 91
Indirect repurchase of shares for minimum tax withholdings (311) (54)
Net cash provided by (used in) financing activities 3,306 (8,646)
Net increase in cash and cash equivalents 5,240 3,819
Cash and cash equivalents, beginning of period 8,529 3,815
Cash and cash equivalents, end of period 13,769 7,634
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 3,048 1,746
Supplemental cash flow disclosures:    
Cash paid for interest 17 80
Cash paid for income taxes $ 1,174 $ 1,966