Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
3 Months Ended |
Jan. 04, 2020 |
Dec. 29, 2018 |
| Cash flows from operating activities |
|
|
| Net loss |
$ (403)
|
$ (1,220)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and amortization |
3,457
|
2,193
|
| Non-cash interest expense |
618
|
213
|
| Share-based compensation |
1,093
|
852
|
| Equity in net income of affiliate |
(169)
|
79
|
| (Gain) loss on disposal of fixed assets |
(121)
|
30
|
| Deferred taxes |
(125)
|
267
|
| Amortization of deferred actuarial pension losses |
430
|
689
|
| Foreign currency hedges |
0
|
109
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
4,619
|
13,793
|
| Inventories |
(59,797)
|
(26,884)
|
| Other assets |
3
|
(4,805)
|
| Accounts payable |
(25,071)
|
(28,299)
|
| Accrued expenses, pension and other liabilities |
(10,522)
|
(5,225)
|
| Total adjustments |
(85,585)
|
(46,988)
|
| Total cash used in operating activities |
(85,988)
|
(48,208)
|
| Cash flows from investing activities |
|
|
| Cash paid for fixed assets |
(9,287)
|
(10,787)
|
| Proceeds from sale of fixed assets |
150
|
0
|
| Total cash used in investing activities |
(9,137)
|
(10,787)
|
| Cash flows from financing activities |
|
|
| Borrowings under the revolving credit facility |
35,000
|
20,000
|
| Borrowings under the senior term loan |
0
|
50,000
|
| Repayments under the senior term loan |
(2,475)
|
(2,475)
|
| Principal payments on finance leases |
(225)
|
|
| Cash paid for employee taxes on vested restricted shares and stock option exercises |
(806)
|
(243)
|
| Proceeds from exercises of warrants |
372
|
620
|
| Tender offer repurchase of common stock and preferred stock |
0
|
50,349
|
| Total cash provided by financing activities |
31,866
|
17,553
|
| Change in cash and cash equivalents |
(63,259)
|
(41,442)
|
| Cash and cash equivalents, beginning of period |
70,959
|
60,260
|
| Cash and cash equivalents, end of period |
7,700
|
18,818
|
| Supplemental disclosures of cash flow information |
|
|
| Interest paid, net of interest received |
2,235
|
2,430
|
| Income tax paid, net of tax refunds |
0
|
9
|
| Non-cash investing and financing activities: |
|
|
| Changes in accounts payable for capital additions to property, plant and equipment |
(2,150)
|
(1,575)
|
| Employee taxes payable on vested restricted shares and stock option exercises |
(572)
|
0
|
| Cashless exercise of stock options |
195
|
0
|
| Right-of-use assets obtained in exchange for operating lease obligations |
0
|
8,040
|
| Conversion of preferred stock into common stock |
$ 0
|
$ 9,264
|