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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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ZLH3MfHjfd+btrNt65/3rQ==
M o r e . . . | ||
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CONDENSED STATEMENTS OF CASH FLOWS |
|
|
|||||
(Dollars in thousands) |
For The Three Months Ended |
||||||
(Unaudited) |
March 31, | ||||||
|
2004 |
|
|
2003 |
|||
|
|
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|
|
|
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Cash flows from operating activities: |
|
|
|||||
Net income/(loss) |
$ |
2,302 |
$ |
(1,407 |
) | ||
Depreciation and amortization |
2,247 |
2,304 |
|||||
Amortization of deferred gain |
(209 |
) |
- |
||||
Equity (earnings) loss from joint ventures |
(632 |
) |
37 |
||||
Deferred taxes and income tax receivable |
1,666 |
(1,361 |
) | ||||
Non-cash pension income and post-retirement benefits |
105 |
(240 |
) | ||||
Other |
93 |
12 |
|||||
|
|
||||||
Cash from operating activities before working capital changes |
5,572 |
(655 |
) | ||||
Net change in accounts receivable sold |
5,000 |
4,300 |
|||||
Other increases in working capital |
(3,613 |
) |
(2,922 |
) | |||
|
|
||||||
Net cash from operating activities |
6,959 |
723 |
|||||
|
|
|
|||||
Cash flows from investing activities: |
|
|
|||||
Investments and acquisitions |
(1,744 |
) |
- |
||||
Advances to joint ventures |
- |
(114 |
) | ||||
Capital expenditures |
(1,430 |
) |
(736 |
) | |||
|
|
||||||
Net cash from investing activities |
(3,174 |
) |
(850 |
) | |||
|
|
|
|||||
Cash flows from financing activities |
|
|
|||||
Long-term borrowings, net |
(1,479 |
) |
697 |
||||
Preferred dividends paid |
(240 |
) |
(238 |
) | |||
Other |
17 |
- |
|||||
|
|
||||||
Net cash from financing activities |
(1,702 |
) |
459 |
||||
|
|
|
|||||
Effect of exchange rate changes on cash |
(104 |
) |
56 |
||||
|
|
||||||
|
|
|
|||||
Net increase in cash |
1,979 |
388 |
|||||
|
|
|
|||||
Cash - beginning of year |
2,455 |
918 |
|||||
|
|
||||||
Cash - end of period |
$ |
4,434 |
$ |
1,306 |
|||
|
|
||||||
|
|
|
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Supplemental cash disclosure - cash (paid) received during the period: |
|
|
|||||
Interest |
$ |
(2,319 |
) |
$ |
(2,227 |
) | |
|
|
||||||
Income taxes |
$ |
20 |
$ |
(197 |
) | ||
|
|
| ||