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Richardson Electronics, Ltd.
Unaudited Consolidated Statements of Cash Flows (in thousands) | ||||||||
| Three Months Ended | ||||||||
| August 31, 2024 | September 2, 2023 | |||||||
| Operating activities: | ||||||||
| Net income | $ | 590 | $ | 1,227 | ||||
| Adjustments to reconcile net income to cash provided by operating activities: | ||||||||
| Unrealized foreign currency gain | (382 | ) | (37 | ) | ||||
| Depreciation and amortization | 1,044 | 998 | ||||||
| Inventory provisions | 139 | 85 | ||||||
| Share-based compensation expense | 593 | 483 | ||||||
| Gain on disposal of assets | (2 | ) | — | |||||
| Deferred income taxes | (58 | ) | (5 | ) | ||||
| Change in assets and liabilities: | ||||||||
| Accounts receivable | (5,858 | ) | 4,462 | |||||
| Inventories | (124 | ) | (3,151 | ) | ||||
| Prepaid expenses and other assets | (29 | ) | 409 | |||||
| Accounts payable | 4,164 | (2,365 | ) | |||||
| Accrued liabilities | (95 | ) | (1,124 | ) | ||||
| Other | 430 | 33 | ||||||
| Net cash provided by operating activities | 412 | 1,015 | ||||||
| Investing activities: | ||||||||
| Capital expenditures | (926 | ) | (1,141 | ) | ||||
| Proceeds from sale of property, plant & equipment | 7 | — | ||||||
| Net cash used in investing activities | (919 | ) | (1,141 | ) | ||||
| Financing activities: | ||||||||
| Proceeds from issuance of common stock | 144 | 327 | ||||||
| Cash dividends paid on common and Class B common stock | (850 | ) | (843 | ) | ||||
| Proceeds from revolving credit facility | 1,000 | — | ||||||
| Repayment of revolving credit facility | (1,000 | ) | — | |||||
| Other | (162 | ) | (119 | ) | ||||
| Net cash used in financing activities | (868 | ) | (635 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents | 147 | (96 | ) | |||||
| Decrease in cash and cash equivalents | (1,228 | ) | (857 | ) | ||||
| Cash and cash equivalents at beginning of period | 24,263 | 24,981 | ||||||
| Cash and cash equivalents at end of period | $ | 23,035 | $ | 24,124 | ||||
