Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows (unaudited)

v3.3.1.900
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 02, 2016
Dec. 27, 2014
Dec. 28, 2013
Cash flows from operating activities:      
Net income $ 33,138 $ 43,775 $ 37,984
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 9,557 8,718 7,227
(Gain)Loss on disposal of assets (171) 171 462
Gain on investment in business 0 0 (528)
Stock compensation income tax benefit 4,324 3,899 3,047
Deferred director and phantom stock unit expense (income) 17 35 70
Stock compensation income tax benefit 112 (137) (303)
Deferred director and phantom stock unit expense (income) 12 55 (7)
Provision for slow moving inventory (193) (37) 0
Provision for Deferred Income Taxes (846) 1,265 291
(Increase) decrease in, net of acquisition:      
Accounts receivable 3,958 (572) (3,210)
Inventories 1,244 (208) (1,226)
Income taxes receivable (235) 1,091 77
Other current assets (741) (150) (167)
Other assets 289 69 383
Increase (decrease) in, net of acquisition:      
Accounts payable (451) 243 24
Accrued expenses and other liabilities 476 4,118 3,155
Increase (Decrease) in Income Taxes Payable (559) 559 0
Other noncurrent liabilities (29) (48) (156)
Net cash provided by operating activities 49,902 62,846 47,123
Cash flows from investing activities:      
Investment in business, net of cash acquired 0 0 (923)
Payments to Acquire Intangible Assets (1,425) (1,075) 0
Capital expenditures (6,106) (10,667) (17,935)
Proceeds from dispositions of equipment 1,645 37 230
Purchases of short-term investments (30,125) (51,236) (28,356)
Proceeds from sale of short-term investments 26,698 44,765 26,764
Net cash used in investing activities (9,313) (18,176) (20,220)
Cash flows from financing activities:      
Stock compensation income tax benefit (112) 137 303
Proceeds from stock issued 1,019 846 859
Dividends to shareholders (11,999) (38,357) (9,435)
Change in restricted cash 275 15 (5)
Net cash used in financing activities 10,817 37,359 8,278
Effect of exchange rate changes on cash and cash equivalents (4,683) (5,380) 1,809
Net increase (decrease) in cash and cash equivalents 25,089 1,931 20,434
Cash and cash equivalents, beginning of period 56,843 54,912 34,478
Cash and cash equivalents, end of period 81,932 56,843 54,912
Cash paid:      
Income taxes 17,857 19,693 19,123
Supplemental disclosure of noncash transactions:      
Common stock issued for shared distribution through accrued expenses and other liabilities 3,535 3,226 3,486
Common stock issued for deferred director’s compensation through other noncurrent liabilities 0 0 294
Unrealized gain (loss) on available for sale securities $ (403) $ (671) $ (22)