Richardson Electronics, Ltd.
Audited Consolidated Statements of Cash Flows
(in thousands)
|
Fiscal Year Ended
| ||||||||
| June 2, 2018 | May 27, 2017 | |||||||
| Operating activities: | ||||||||
| Net income (loss) | $ | 3,822 | $ | (6,928 | ) | |||
| Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | ||||||||
| Depreciation and amortization | 2,993 | 2,740 | ||||||
| Inventory provisions | 773 | 456 | ||||||
| Loss (gain) on sale of investments | (183 | ) | (6 | ) | ||||
| Gain on disposal of business | — | (209 | ) | |||||
| Gain on disposal of assets | (276 | ) | — | |||||
| Share-based compensation expense | 533 | 437 | ||||||
| Deferred income taxes | 319 | (55 | ) | |||||
| Change in assets and liabilities: | ||||||||
| Accounts receivable | (1,764 | ) | 4,167 | |||||
| Income tax receivable | — | 17 | ||||||
| Inventories | (8,247 | ) | 2,408 | |||||
| Prepaid expenses and other assets | (627 | ) | (1,318 | ) | ||||
| Accounts payable | 3,457 | 1,037 | ||||||
| Accrued liabilities | 1,906 | (699 | ) | |||||
| Long-term liabilities-accrued pension | — | (249 | ) | |||||
| Other | 246 | 11 | ||||||
| Net cash provided by operating activities | 2,952 | 1,809 | ||||||
| Investing activities: | ||||||||
| Capital expenditures | (5,239 | ) | (5,221 | ) | ||||
| Proceeds from sales of assets | 374 | — | ||||||
| Proceeds from maturity of investments | 12,315 | 3,582 | ||||||
| Purchases of investments | (3,943 | ) | (2,136 | ) | ||||
| Proceeds from sales of available-for-sale securities | 913 | 306 | ||||||
| Purchases of available-for-sale securities | (265 | ) | (306 | ) | ||||
| Other | (3 | ) | (12 | ) | ||||
| Net cash provided by (used in) investing activities | 4,152 | (3,787 | ) | |||||
| Financing activities: | ||||||||
| Proceeds from issuance of common stock | 97 | 30 | ||||||
| Cash dividends paid | (3,048 | ) | (3,031 | ) | ||||
| Net cash used in financing activities | (2,951 | ) | (3,001 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents | 985 | (148 | ) | |||||
| Increase (decrease) in cash and cash equivalents | 5,138 | (5,127 | ) | |||||
| Cash and cash equivalents at beginning of period | 55,327 | 60,454 | ||||||
| Cash and cash equivalents at end of period | $ | 60,465 | $ | 55,327 | ||||
