|
ValleyCrest Holding Co. and Subsidiaries
<br />Consolidated Statement of Cash Flows
<br />Year Ended April 30, 2008
<br />Operating activities
<br />Net income
<br />Adjustments to reconcile net income to net cash provided by operating activities:
<br />Provision for doubtful accounts
<br />Depreciation and amortization
<br />Deferred taxes
<br />Tax benefit related to purchase accounting for goodwill
<br />Tax expense of unrealized loss on interest rate swap
<br />Stock -based compensation
<br />Changes in operating assets and liabilities:
<br />Investments and escrowed retention
<br />Trade receivables
<br />Other receivables
<br />Costs and estimated earnings in excess of billings on uncompleted contracts
<br />Inventories
<br />Prepaid expenses
<br />Other long -term assets
<br />Accounts payable and accrued liabilities
<br />Billings in excess of costs and estimated earnings on uncompleted contracts
<br />Income taxes payable
<br />Net cash provided by operating activities
<br />Investing activities
<br />Issuance of notes receivable
<br />Collection of notes receivable
<br />Purchases of property and equipment, net
<br />Acquisitions
<br />Net cash used in investing activities
<br />Financing activities
<br />Repayment of long -term debt
<br />Proceeds from issuance of long -tern debt
<br />Book overdraft
<br />Change in unrealized gain on investment
<br />Net cash provided by financing activities
<br />Net change in cash
<br />Cash at beginning of year
<br />Cash at end of year
<br />Supplemental disclosures of cash flow information
<br />Cash paid during the year for:
<br />Interest
<br />Income taxes, net of refunds received
<br />Supplemental disclosures of noncash flow information
<br />Increase in other long -term liability due to unrealized loss on
<br />interest rate swap
<br />See accompanying notes.
<br />1,967,000
<br />2,507,000
<br />35,095,000
<br />(7,183,000)
<br />(2,553,000)
<br />1,636,000
<br />909,000
<br />(538,000)
<br />5,919,000
<br />(928,000)
<br />(854,000)
<br />1,472,000
<br />901,000
<br />(2,745,000)
<br />7,958,000
<br />11,879,000
<br />6,552,000
<br />61,994,000
<br />(668,000)
<br />807,000
<br />(10,712,000)
<br />(40,140,000)
<br />(50,713,000)
<br />(40,916,000)
<br />53,357,000
<br />(5,511,000)
<br />14,000
<br />6,944,000
<br />18,225,000
<br />69,000
<br />$ 18,294,000
<br />$ 24,055,000
<br />$ 6,224,000
<br />$ 7,467,000
<br />10 —(( ✓ok # I
<br />ValleyCrest landscape Maint.6
<br />16400 NW 127th Ave.
<br />Miami, FL 33018 -1051
<br />
|