|
Richardson Electronics, Ltd.
Unaudited Consolidated Statements of Cash Flows (in thousands) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| November 30, 2024 | December 2, 2023 | November 30, 2024 | December 2, 2023 | |||||||||||||
| Operating activities: | ||||||||||||||||
| Net loss | $ | (751 | ) | $ | (1,797 | ) | $ | (161 | ) | $ | (570 | ) | ||||
| Adjustments to reconcile net loss to cash provided by operating activities: | ||||||||||||||||
| Unrealized foreign currency loss (gain) | 141 | (268 | ) | (241 | ) | (305 | ) | |||||||||
| Depreciation and amortization | 1,015 | 1,116 | 2,059 | 2,114 | ||||||||||||
| Inventory provisions | 84 | 192 | 223 | 277 | ||||||||||||
| Share-based compensation expense | 313 | 283 | 906 | 766 | ||||||||||||
| (Gain) loss on disposal of assets | (2 | ) | 70 | (4 | ) | 70 | ||||||||||
| Deferred income taxes | (21 | ) | 51 | (79 | ) | 46 | ||||||||||
| Change in assets and liabilities: | ||||||||||||||||
| Accounts receivable | 4,721 | 1,790 | (1,137 | ) | 6,252 | |||||||||||
| Inventories | (1,617 | ) | (3,069 | ) | (1,741 | ) | (6,220 | ) | ||||||||
| Prepaid expenses and other assets | 67 | (618 | ) | 38 | (209 | ) | ||||||||||
| Accounts payable | 500 | 1,233 | 4,664 | (1,132 | ) | |||||||||||
| Accrued liabilities | 641 | 1,502 | 546 | 378 | ||||||||||||
| Other | 374 | 315 | 804 | 348 | ||||||||||||
| Net cash provided by operating activities | 5,465 | 800 | 5,877 | 1,815 | ||||||||||||
| Investing activities: | ||||||||||||||||
| Capital expenditures | (517 | ) | (1,515 | ) | (1,443 | ) | (2,656 | ) | ||||||||
| Proceeds from sale of property, plant & equipment | — | — | 7 | — | ||||||||||||
| Net cash used in investing activities | (517 | ) | (1,515 | ) | (1,436 | ) | (2,656 | ) | ||||||||
| Financing activities: | ||||||||||||||||
| Proceeds from issuance of common stock | 163 | 15 | 307 | 342 | ||||||||||||
| Cash dividends paid on common and Class B common stock | (853 | ) | (845 | ) | (1,703 | ) | (1,688 | ) | ||||||||
| Proceeds from revolving credit facility | — | — | 1,000 | — | ||||||||||||
| Repayment of revolving credit facility | — | — | (1,000 | ) | — | |||||||||||
| Other | 3 | — | (159 | ) | (119 | ) | ||||||||||
| Net cash used in financing activities | (687 | ) | (830 | ) | (1,555 | ) | (1,465 | ) | ||||||||
| Effect of exchange rate changes on cash and cash equivalents | (661 | ) | 190 | (514 | ) | 94 | ||||||||||
| Increase (decrease) in cash and cash equivalents | 3,600 | (1,355 | ) | 2,372 | (2,212 | ) | ||||||||||
| Cash and cash equivalents at beginning of period | 23,035 | 24,124 | 24,263 | 24,981 | ||||||||||||
| Cash and cash equivalents at end of period | $ | 26,635 | $ | 22,769 | $ | 26,635 | $ | 22,769 | ||||||||
