Richardson Electronics Reports Third Quarter Fiscal 2019 Results and Declares Quarterly Cash Dividend

Unaudited Consolidated Statements of Cash Flows
(in thousands)

    Three Months Ended     Nine Months Ended  
    March 2,
2019
    March 3,
2018
    March 2,
2019
    March 3,
2018
 
Operating activities:                 
Net (loss) income  $(1,078) $527  $(951) $2,083 
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities:                
Depreciation and amortization  794   752   2,350   2,219 
Inventory provisions  203   183   568   470 
Gain on sale of investments     (159)     (183)
Loss (gain) on disposal of assets     3      (188)
Share-based compensation expense  176   116   571   425 
Deferred income taxes  113   124   268   186 
Change in assets and liabilities:                
Accounts receivable  (478)  (551)  (576)  (239)
Inventories  (1,484)  (598)  (3,315)  (5,232)
Prepaid expenses and other assets  614   43   332   (572)
Accounts payable   (1,561 )     552       (5,442 )     (446 )
Accrued liabilities     309       1,116       880       1,325  
Other     (86 )     (137 )     88       (140 )
Net cash (used in) provided by operating activities     (2,478 )     1,971       (5,227 )     (292 )
Investing activities:                                
Capital expenditures     (974 )     (1,461 )     (3,166 )     (4,196 )
Proceeds from sale of assets                       276  
Proceeds from maturity of investments     2,300       3,943       2,300       12,120  
Purchases of investments     (12,500 )           (17,800 )     (3,943 )
Proceeds from sales of available-for-sale securities           648             913  
Purchases of available-for-sale securities                       (265 )
Other           (2 )           (7 )
Net cash (used in) provided by investing activities     (11,174 )     3,128       (18,666 )     4,898  
Financing activities:                                
Proceeds from issuance of common stock     16       44       219       44  
Cash dividends paid     (771 )     (763 )     (2,305 )     (2,284 )
Net cash used in financing activities     (755 )     (719 )     (2,086 )     (2,240 )
Effect of exchange rate changes on cash and cash equivalents     417       1,049       (617 )     2,189  
(Decrease) increase in cash and cash equivalents     (13,990 )     5,429       (26,596 )     4,555  
Cash and cash equivalents at beginning of period     47,859       54,453       60,465       55,327  
Cash and cash equivalents at end of period   $ 33,869     $ 59,882     $ 33,869     $ 59,882  
                                 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise