v3.24.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
May 25, 2024
May 27, 2023
May 28, 2022
Cash flows from operating activities:      
Net income $ 21,034,000 $ 54,359,000 $ 67,175,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 8,428,000 8,557,000 8,483,000
Stock-based compensation expense 5,732,000 9,521,000 8,168,000
Contingent consideration adjustment (4,400,000) 0 166,000
Loss or (gain) on dissolution of subsidiaries 0 220,000 (884,000)
Goodwill impairment 0 2,955,000 0
Adjustment to allowances 137,000 1,440,000 557,000
Deferred income taxes 440,000 (9,701,000) (11,053,000)
Other, net 910,000 (230,000) 1,488,000
Changes in operating assets and liabilities, net of dispositions:      
Trade accounts receivable 29,631,000 13,552,000 (44,756,000)
Prepaid expenses and other current assets (766,000) 294,000 916,000
Income taxes (3,252,000) 30,027,000 2,057,000
Other assets (9,862,000) (4,067,000) (393,000)
Accounts payable and other accrued expenses 305,000 1,551,000 1,022,000
Accrued salaries and related obligations (24,531,000) (21,535,000) 21,996,000
Other liabilities (1,887,000) (5,307,000) (5,498,000)
Net cash provided by operating activities 21,919,000 81,636,000 49,444,000
Cash flows from investing activities:      
Proceeds from sale of taskforce 0 5,953,000 0
Proceeds from sale of assets 0 2,000 0
Acquisition of CloudGo, net of cash acquired (7,411,000) 0 0
Investments in property and equipment and internal-use software (1,143,000) (2,012,000) (2,961,000)
Net cash (used in) provided by investing activities (8,554,000) 3,943,000 (2,961,000)
Cash flows from financing activities:      
Proceeds from exercise of stock options 465,000 10,070,000 13,105,000
Proceeds from issuance of common stock under Employee Stock Purchase Plan 5,651,000 5,999,000 5,179,000
Repurchase of common stock (8,000,000) (15,199,000) (19,651,000)
Payment of contingent consideration liabilities 0 0 (3,575,000)
Proceeds from Revolving Credit Facility 0 15,000,000 73,393,000
Repayments on Revolving Credit Facility 0 (69,000,000) (63,000,000)
Payment of debt issuance costs 0 0 (222,000)
Payment of cash dividends (18,825,000) (18,784,000) (18,600,000)
Net cash used in financing activities (20,709,000) (71,914,000) (13,371,000)
Effect of exchange rate changes on cash (548,000) (1,105,000) (3,034,000)
Net (decrease) increase in cash (7,892,000) 12,560,000 30,078,000
Cash and cash equivalents at beginning of period 116,784,000 104,224,000 74,391,000
Cash, cash equivalents and restricted cash at end of period 108,892,000 116,784,000 104,469,000
Less: Restricted cash at end of period 0 0 (245,000)
Cash and cash equivalents at end of period 108,892,000 116,784,000 104,224,000
Supplemental cash flow disclosures      
Income taxes paid (refund), net 11,161,000 (2,913,000) 24,619,000
Interest paid 352,000 962,000 1,047,000
Non-cash investing and financing activities      
Capitalized leasehold improvements paid directly by landlord 0 0 7,000
Dividends declared, not paid $ 4,695,000 $ 4,681,000 $ 4,647,000