| Richardson Electronics, Ltd. | ||||||||||||||||
| Unaudited Consolidated Statements of Cash Flows | ||||||||||||||||
| (in thousands) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
|
November 26,
2016 |
November 28,
2015 |
November 26,
2016 |
November 28,
2015 | |||||||||||||
| Operating activities: | ||||||||||||||||
| Net loss | $ | (2,522 | ) | $ | (2,286 | ) | $ | (5,372 | ) | $ | (3,685 | ) | ||||
| Adjustments to reconcile net loss to cash used in operating activities: | ||||||||||||||||
| Depreciation and amortization | 602 | 797 | 1,317 | 1,282 | ||||||||||||
| (Gain) loss on sale of investments | 8 | (8 | ) | 6 | (19 | ) | ||||||||||
| Gain on disposal of assets | — | (243 | ) | — | (244 | ) | ||||||||||
| Share-based compensation expense | 176 | 225 | 279 | 315 | ||||||||||||
| Deferred income taxes | (151 | ) | 254 | (309 | ) | 255 | ||||||||||
| Change in assets and liabilities, net of effect of acquired business: | ||||||||||||||||
| Accounts receivable | 379 | 2,554 | 3,934 | 29 | ||||||||||||
| Income tax receivable | 8 | 116 | (5 | ) | 664 | |||||||||||
| Inventories | 1,181 | (2,879 | ) | 1,592 | (3,472 | ) | ||||||||||
| Prepaid expenses and other assets | (1,082 | ) | 137 | (1,041 | ) | (444 | ) | |||||||||
| Accounts payable | (883 | ) | (469 | ) | (3,221 | ) | (1,990 | ) | ||||||||
| Accrued liabilities | 2,006 | (396 | ) | 862 | (1,200 | ) | ||||||||||
| Non-current deferred income tax liabilities | — | (228 | ) | — | — | |||||||||||
| Long-term liabilities-accrued pension | — | — | — | (465 | ) | |||||||||||
| Other | 13 | 96 | 18 | 131 | ||||||||||||
| Net cash used in operating activities | (265 | ) | (2,330 | ) | (1,940 | ) | (8,843 | ) | ||||||||
| Investing activities: | ||||||||||||||||
| Cash consideration paid for acquired business | — | — | — | (12,209 | ) | |||||||||||
| Capital expenditures | (1,235 | ) | (792 | ) | (3,299 | ) | (1,776 | ) | ||||||||
| Proceeds from sale of assets | — | 402 | — | 402 | ||||||||||||
| Proceeds from maturity of investments | 2,117 | 7,234 | 3,582 | 25,584 | ||||||||||||
| Purchases of investments | (2,136 | ) | (2,151 | ) | (2,136 | ) | (2,151 | ) | ||||||||
| Proceeds from sales of available-for-sale securities | 59 | 44 | 147 | 144 | ||||||||||||
| Purchases of available-for-sale securities | (59 | ) | (44 | ) | (147 | ) | (144 | ) | ||||||||
| Other | (3 | ) | (28 | ) | (6 | ) | 32 | |||||||||
| Net cash (used in) provided by investing activities | (1,257 | ) | 4,665 | (1,859 | ) | 9,882 | ||||||||||
| Financing activities: | ||||||||||||||||
| Repurchase of common stock | — | (1,707 | ) | — | (5,015 | ) | ||||||||||
| Proceeds from issuance of common stock | — | 121 | — | 121 | ||||||||||||
| Cash dividends paid | (757 | ) | (757 | ) | (1,515 | ) | (1,563 | ) | ||||||||
| Other | — | — | — | (4 | ) | |||||||||||
| Net cash used in financing activities | (757 | ) | (2,343 | ) | (1,515 | ) | (6,461 | ) | ||||||||
| Effect of exchange rate changes on cash and cash equivalents | (1,098 | ) | (555 | ) | (1,029 | ) | (1,250 | ) | ||||||||
| Decrease in cash and cash equivalents | (3,377 | ) | (563 | ) | (6,343 | ) | (6,672 | ) | ||||||||
| Cash and cash equivalents at beginning of period | 57,488 | 68,426 | 60,454 | 74,535 | ||||||||||||
| Cash and cash equivalents at end of period | $ | 54,111 | $ | 67,863 | $ | 54,111 | $ | 67,863 | ||||||||
