Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands
 3 Months Ended 9 Months Ended
Oct. 02, 2011
Oct. 03, 2010
Oct. 02, 2011
Oct. 03, 2010
Net earnings (loss) $ (1,456) $ 2,581 $ (1,705) $ 7,825
Depreciation 704 643 2,059 1,892
Loss on extinguishment of debt 300   300  
Loss on derivative financial instrument 125   125  
Deferred income taxes 73 (9) 43 (10)
Non-cash interest 57 55 166 192
Stock-based compensation 27 217 96 865
Gain on acquisition of business (22)   (22)  
Change in non-cash operating working capital, net of effects from acquisition:        
Accounts receivable 3,867 8,400 9,734 1,820
Inventories (10,906) 1,404 (3,092) (8,043)
Prepaid expenses (124) 182 826 658
Income taxes payable 3 36 (42) 14
Accounts payable 5,614 (9,612) (10,124) (67)
Accrued liabilities 1,353 698 (1,827) 1,400
[NetCashProvidedByUsedInOperatingActivities] (385) 4,595 (3,463) 6,546
Decrease in revolving debt (5,529) (4,703) (1,528) (5,339)
Increase in revolving debt 12,241   12,241  
Repayment of long-term debt (1,235) (75) (1,235) (225)
Principal payment of capital lease obligations (342) (211) (1,174) (594)
Proceeds from sale and leaseback   435   435
Deferred financing costs (1,021)   (1,021) (100)
Proceeds from issuance of common stock 19 134 317 802
[NetCashProvidedByUsedInFinancingActivities] 4,133 (4,420) 7,600 (5,021)
Purchase of property, plant and equipment (125) (170) (434) (1,006)
Acquisition of business, net of cash acquired (note 11) (3,033)   (3,033)  
[NetCashProvidedByUsedInInvestingActivities] (3,158) (170) (3,467) (1,006)
Increase in cash 590 5 670 519
Cash, beginning of period 1,013 2,103 933 1,589
Cash, end of the period 1,603 2,108 1,603 2,108
Cash interest paid 267 390 826 1,302
Cash taxes paid – net 102 79 551 256
Property, plant and equipment acquired through capital lease $ 667   $ 2,133