|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 27, 2014
|
Dec. 28, 2013
|
Dec. 29, 2012
|
| Cash flows from operating activities: |
|
|
|
| Net income |
$ 10,561 |
$ 6,618 |
$ 7,449 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: |
|
|
|
| Depreciation |
6,683 |
5,445 |
4,678 |
| Amortization |
1,204 |
288 |
23 |
| Provision for bad debts |
17 |
(3) |
2 |
| Deferred income taxes |
2,540 |
627 |
154 |
| Excess income tax benefit from exercise of stock options |
(332) |
(653) |
(841) |
| Stock-based compensation expense |
557 |
619 |
736 |
| Restricted stock compensation expense |
1,140 |
349 |
539 |
| Gain on sale of DSD business |
|
|
(1,101) |
| Loss (gain) on disposition of equipment |
118 |
16 |
(20) |
| Contingent consideration revaluation |
(2,998) |
|
|
| Change assets and liabilities, net of effects from acquisitions: |
|
|
|
| Accounts receivable |
1,183 |
(2,634) |
(1,816) |
| Inventories |
(22,103) |
(7,554) |
4,166 |
| Other assets and liabilities |
135 |
626 |
993 |
| Accounts payable and accrued liabilities |
13 |
1,602 |
(3,738) |
| Net cash (used in) provided by operating activities |
(1,282) |
5,346 |
11,224 |
| Cash flows from investing activities: |
|
|
|
| Purchase of property and equipment |
(11,835) |
(9,775) |
(5,609) |
| Acquisition of Willamette Valley Fruit Company |
(1,250) |
(8,472) |
|
| Purchase of Fresh Frozen Foods |
|
(38,776) |
|
| Purchase of Sin In A Tin |
(158) |
|
|
| Proceeds from sale of DSD business |
|
|
1,511 |
| Net cash used in investing activities |
(13,243) |
(57,023) |
(4,098) |
| Cash flows from financing activities: |
|
|
|
| Net borrowings on line of credit |
15,579 |
(6,894) |
(5,067) |
| Proceeds from issuance of common stock under equity award plans |
320 |
206 |
181 |
| Payments made on capital lease obligations |
(334) |
(486) |
(505) |
| Borrowings on term loan |
4,515 |
70,047 |
|
| Payments made on long-term debt |
(5,896) |
(10,161) |
(2,518) |
| Payment of loan financing fees |
(198) |
(671) |
|
| Excess income tax benefit from exercise of stock options |
332 |
653 |
841 |
| Payment of payroll taxes on stock-based compensation through shares withheld |
(208) |
(526) |
(303) |
| Net cash provided by (used in) financing activities |
14,110 |
52,168 |
(7,371) |
| Net (decrease) increase in cash and cash equivalents |
(415) |
491 |
(245) |
| Cash and cash equivalents at beginning of year |
910 |
419 |
664 |
| Cash and cash equivalents at end of year |
495 |
910 |
419 |
| Supplemental disclosures of cash flow information: |
|
|
|
| Cash paid during the period for interest |
1,950 |
734 |
776 |
| Cash paid during the period for income taxes |
3,144 |
1,307 |
3,094 |
| Supplemental disclosures of non-cash investing and financing transactions: |
|
|
|
| Capital lease obligations for the acquisition of property and equipment |
|
$ 16 |
|