Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:    
Net Income $ 4,614 $ 4,171
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 443 398
Provision for doubtful accounts 0 (700)
Share-based compensation 75 37
Changes in assets and liabilities:    
Receivables 7,474 14,800
Inventories 2,349 18,020
Prepaid expenses and other current assets (381) (168)
Accounts payable (1,400) (2,722)
Liabilities on borrowed metals (8,891) 8,063
Accrued liabilities (1,616) (2,106)
Payable to parent (1,905) (2,369)
Net cash provided by operating activities 762 37,424
Cash flows from investing activities:    
Capital expenditures for property and equipment (264) (157)
Net cash used in investing activities (264) (157)
Cash flows from financing activities:    
Product financing arrangement, net (13,048) (10,799)
Dividends paid to parent (5,000) (15,000)
Borrowings (repayments) under lines of credit, net 11,000 (11,500)
Net cash used in financing activities (7,048) (37,299)
Net decrease in cash and cash equivalents (6,550) (32)
Cash and cash equivalents, beginning of period 21,565 11,273
Cash and cash equivalents, end of period 15,015 11,241
Cash paid during the period for:    
Interest expense 1,851 1,824
Income taxes $ 3,925 $ 4,750