| Richardson Electronics, Ltd. | ||||||||
| Consolidated Statements of Cash Flows | ||||||||
| (in thousands) | ||||||||
| Fiscal Year Ended | ||||||||
| May 29, 2021 | May 30, 2020 | |||||||
| Operating activities: | ||||||||
| Net income (loss) | $ | 1,655 | $ | (1,838 | ) | |||
| Adjustments to reconcile net income (loss) to cash provided by | ||||||||
| operating activities: | ||||||||
| Depreciation and amortization | 3,424 | 3,386 | ||||||
| Inventory provisions | 1,041 | 1,013 | ||||||
| Loss on disposal of assets | 13 | 3 | ||||||
| Share-based compensation expense | 675 | 683 | ||||||
| Deferred income taxes | (1 | ) | (7 | ) | ||||
| Change in assets and liabilities: | ||||||||
| Accounts receivable | (3,553 | ) | 3,895 | |||||
| Inventories | (4,861 | ) | (5,452 | ) | ||||
| Prepaid expenses and other assets | 103 | 620 | ||||||
| Accounts payable | (1,210 | ) | 631 | |||||
| Accrued liabilities | 4,016 | (889 | ) | |||||
| Other | (470 | ) | (122 | ) | ||||
| Net cash provided by operating activities | 832 | 1,923 | ||||||
| Investing activities: | ||||||||
| Capital expenditures | (2,632 | ) | (1,776 | ) | ||||
| Proceeds from maturity of investments | 25,000 | 21,000 | ||||||
| Purchases of investments | (9,000 | ) | (29,000 | ) | ||||
| Net cash provided by (used in) investing activities | 13,368 | (9,776 | ) | |||||
| Financing activities: | ||||||||
| Payment of financing lease principal | (181 | ) | (166 | ) | ||||
| Proceeds from issuance of common stock | 289 | 59 | ||||||
| Cash dividends paid on Common and Class B Common shares | (3,122 | ) | (3,101 | ) | ||||
| Net cash used in financing activities | (3,014 | ) | (3,208 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents | 1,595 | (423 | ) | |||||
| Increase (decrease) in cash and cash equivalents | 12,781 | (11,484 | ) | |||||
| Cash and cash equivalents at beginning of period | 30,535 | 42,019 | ||||||
| Cash and cash equivalents at end of period | $ | 43,316 | $ | 30,535 | ||||
Richardson Electronics Reports Fourth Quarter Fiscal 2021 Net Income of $1.9 Million; Fiscal 2021 Net Income of $1.7 Million and Non-GAAP Net Income* of $3.3 Million; Declares Quarterly Cash Dividend
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