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Richardson Electronics, Ltd.
Unaudited Consolidated S tatements of Cash Flows (in thousands) | ||||||||
| Three Months Ended | ||||||||
| August 29, 2020 | August 31, 2019 | |||||||
| Operating activities: | ||||||||
| Net (loss) income | $ | (1,147 | ) | $ | 157 | |||
| Adjustments to reconcile net (loss) income to cash used in operating activities: | ||||||||
| Depreciation and amortization | 873 | 833 | ||||||
| Inventory provisions | 237 | 161 | ||||||
| Loss on disposal of assets | — | 1 | ||||||
| Share-based compensation expense | 201 | 188 | ||||||
| Deferred income taxes | 2 | (48 | ) | |||||
| Change in assets and liabilities: | ||||||||
| Accounts receivable | (854 | ) | 2,161 | |||||
| Inventories | (1,621 | ) | (1,357 | ) | ||||
| Prepaid expenses and other assets | 109 | 625 | ||||||
| Accounts payable | (2,734 | ) | (3,955 | ) | ||||
| Accrued liabilities | 1,779 | (876 | ) | |||||
| Other | (202 | ) | 56 | |||||
| Net cash used in operating activities | (3,357 | ) | (2,054 | ) | ||||
| Investing activities: | ||||||||
| Capital expenditures | (718 | ) | (339 | ) | ||||
| Proceeds from maturity of investments | 16,000 | 8,000 | ||||||
| Purchases of investments | (9,000 | ) | — | |||||
| Net cash provided by investing activities | 6,282 | 7,661 | ||||||
| Financing activities: | ||||||||
| Cash dividends paid | (780 | ) | (775 | ) | ||||
| Payment of financing lease principal | (45 | ) | (30 | ) | ||||
| Other | — | 4 | ||||||
| Net cash used in financing activities | (825 | ) | (801 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents | 860 | (368 | ) | |||||
| Increase in cash and cash equivalents | 2,960 | 4,438 | ||||||
| Cash and cash equivalents at beginning of period | 30,535 | 42,019 | ||||||
| Cash and cash equivalents at end of period | $ | 33,495 | $ | 46,457 | ||||
Richardson Electronics Reports First Quarter Fiscal 2021 Results and Declares Quarterly Cash Dividend
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