Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.7.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 26, 2017
Mar. 27, 2016
Cash flows from operating activities:    
Net income $ 4,550 $ 4,532
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,161 3,477
Amortization of loan origination costs 8 8
Stock-based compensation 597 469
Excess tax benefit from stock-based compensation 0 (183)
Loss on disposal of property and equipment 5 0
Amortization of deferred lease incentives (588) (490)
Deferred income taxes 1,136 1,706
Changes in operating assets and liabilities:    
Accounts receivable 35 15
Inventories 250 116
Income tax receivable 741 (55)
Prepaid expenses and other current assets 17 (1,293)
Accounts payable (2,031) (3,341)
Accrued liabilities and deferred rent (1,211) (1,383)
Deferred lease incentives 565 1,103
Net cash provided by operating activities 8,235 4,681
Cash flows from investing activities:    
Purchase of property and equipment (7,233) (8,255)
Purchase of other assets (125) (81)
Net cash used in investing activities (7,358) (8,336)
Cash flows from financing activities:    
Borrowings under revolving line of credit 0 2,000
Payments under revolving line of credit 0 (2,000)
Excess tax benefit from stock-based compensation 0 183
Proceeds from the exercise of stock options 69 60
Indirect repurchase of shares for minimum tax withholdings (458) (293)
Net cash used in financing activities (389) (50)
Net increase (decrease) in cash and cash equivalents 488 (3,705)
Cash and cash equivalents, beginning of period 13,694 8,529
Cash and cash equivalents, end of period 14,182 4,824
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment and other assets acquired by accounts payable 2,639 2,726
Supplemental cash flow disclosures:    
Cash paid for interest 8 8
Cash paid for income taxes $ 18 $ 160