| Richardson Electronics, Ltd. | ||||||||
| Unaudited Consolidated Statements of Cash Flows | ||||||||
| (in thousands) | ||||||||
| Three Months Ended | ||||||||
| August 31, 2019 | September 1, 2018 | |||||||
| Operating activities: | ||||||||
| Net income | $ | 157 | $ | 431 | ||||
| Adjustments to reconcile net income to cash used in operating activities: | ||||||||
| Depreciation and amortization | 833 | 764 | ||||||
| Inventory provisions | 161 | 215 | ||||||
| Loss on disposal of assets | 1 | — | ||||||
| Share-based compensation expense | 188 | 165 | ||||||
| Deferred income taxes | (48 | ) | 58 | |||||
| Change in assets and liabilities: | ||||||||
| Accounts receivable | 2,161 | (198 | ) | |||||
| Inventories | (1,357 | ) | 77 | |||||
| Prepaid expenses and other assets | 625 | 37 | ||||||
| Accounts payable | (3,955 | ) | (5,419 | ) | ||||
| Accrued liabilities | (876 | ) | 227 | |||||
| Other | 56 | 13 | ||||||
| Net cash used in operating activities | (2,054 | ) | (3,630 | ) | ||||
| Investing activities: | ||||||||
| Capital expenditures | (339 | ) | (1,072 | ) | ||||
| Proceeds from maturity of investments | 8,000 | — | ||||||
| Purchases of investments | — | (2,300 | ) | |||||
| Net cash provided by (used in) investing activities | 7,661 | (3,372 | ) | |||||
| Financing activities: | ||||||||
| Proceeds from issuance of common stock | — | 192 | ||||||
| Cash dividends paid | (775 | ) | (764 | ) | ||||
| Payment of financing lease principal | (30 | ) | — | |||||
| Other | 4 | — | ||||||
| Net cash used in financing activities | (801 | ) | (572 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents | (368 | ) | (413 | ) | ||||
| Increase (decrease) in cash and cash equivalents | 4,438 | (7,987 | ) | |||||
| Cash and cash equivalents at beginning of period | 42,019 | 60,465 | ||||||
| Cash and cash equivalents at end of period | $ | 46,457 | $ | 52,478 | ||||
Richardson Electronics Reports First Quarter Fiscal 2020 Net Income and Declares Quarterly Cash Dividend
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