| Richardson Electronics, Ltd. | ||||||||||||||||
| Unaudited Consolidated Statements of Cash Flows | ||||||||||||||||
| (in thousands) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
|
February 25,
2017 |
February 27,
2016 |
February 25,
2017 |
February 27,
2016 | |||||||||||||
| Operating activities: | ||||||||||||||||
| Net loss | $ | (1,431 | ) | $ | (2,926 | ) | $ | (6,803 | ) | $ | (6,611 | ) | ||||
| Adjustments to reconcile net loss to cash used in operating activities: | ||||||||||||||||
| Depreciation and amortization | 703 | 583 | 2,020 | 1,865 | ||||||||||||
| (Gain) loss on sale of investments | (8 | ) | 21 | (2 | ) | 2 | ||||||||||
| Gain on disposal of assets | — | — | — | (244 | ) | |||||||||||
| Share-based compensation expense | 75 | 119 | 354 | 434 | ||||||||||||
| Deferred income taxes | 121 | (82 | ) | (188 | ) | 173 | ||||||||||
| Change in assets and liabilities, net of effect of acquired business: | ||||||||||||||||
| Accounts receivable | (717 | ) | 282 | 3,217 | 311 | |||||||||||
| Income tax receivable | — | 187 | (5 | ) | 851 | |||||||||||
| Inventories | 306 | (2,164 | ) | 1,898 | (5,636 | ) | ||||||||||
| Prepaid expenses and other assets | 80 | 1 | (961 | ) | (443 | ) | ||||||||||
| Accounts payable | 849 | (986 | ) | (2,372 | ) | (2,976 | ) | |||||||||
| Accrued liabilities | (1,118 | ) | (871 | ) | (256 | ) | (2,071 | ) | ||||||||
| Long-term liabilities-accrued pension | — | — | — | (465 | ) | |||||||||||
| Other | (125 | ) | 125 | (107 | ) | 256 | ||||||||||
| Net cash used in operating activities | (1,265 | ) | (5,711 | ) | (3,205 | ) | (14,554 | ) | ||||||||
| Investing activities: | ||||||||||||||||
| Cash consideration paid for acquired business | — | — | — | (12,209 | ) | |||||||||||
| Capital expenditures | (764 | ) | (1,267 | ) | (4,063 | ) | (3,043 | ) | ||||||||
| Proceeds from sale of assets | — | — | — | 402 | ||||||||||||
| Proceeds from maturity of investments | — | — | 3,582 | 25,584 | ||||||||||||
| Purchases of investments | — | — | (2,136 | ) | (2,151 | ) | ||||||||||
| Proceeds from sales of available-for-sale securities | 78 | 106 | 225 | 250 | ||||||||||||
| Purchases of available-for-sale securities | (78 | ) | (106 | ) | (225 | ) | (250 | ) | ||||||||
| Other | (3 | ) | (49 | ) | (9 | ) | (17 | ) | ||||||||
| Net cash (used in) provided by investing activities | (767 | ) | (1,316 | ) | (2,626 | ) | 8,566 | |||||||||
| Financing activities: | ||||||||||||||||
| Repurchase of common stock | — | — | — | (5,015 | ) | |||||||||||
| Proceeds from issuance of common stock | 30 | 21 | 30 | 142 | ||||||||||||
| Cash dividends paid | (758 | ) | (758 | ) | (2,273 | ) | (2,321 | ) | ||||||||
| Other | — | — | — | (4 | ) | |||||||||||
| Net cash used in financing activities | (728 | ) | (737 | ) | (2,243 | ) | (7,198 | ) | ||||||||
| Effect of exchange rate changes on cash and cash equivalents | 35 | 106 | (994 | ) | (1,144 | ) | ||||||||||
| Decrease in cash and cash equivalents | (2,725 | ) | (7,658 | ) | (9,068 | ) | (14,330 | ) | ||||||||
| Cash and cash equivalents at beginning of period | 54,111 | 67,863 | 60,454 | 74,535 | ||||||||||||
| Cash and cash equivalents at end of period | $ | 51,386 | $ | 60,205 | $ | 51,386 | $ | 60,205 | ||||||||
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Richardson Electronics Reports Third Quarter Fiscal 2017 Results and Declares Quarterly Cash Dividend
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