Edwarda,
This is what I've come up with so far for the full year. Note that the peculiar
way that LGTO reports earnings makes this analysis "iffy". For example,
do they include depreciation in operating earnings? If so, I have underestimated
operating cash flow because I assumed that amortization of intangibles.
included depreciation.
FY 1999
--------
Operating Income (pre-tax and ex interest) $42,382
Add: depreciation and Amortization 21,785
Less:
Increase in A/R <20,036>
Increase in other current assets < 4,053>
Plus:
Increase in A/P 5,099
Increase in Deferred Revenue 24,571
--------
Cash Flow from operations $60,748
Capital spending 5,971
Merger expenses 16,438
--------
Free Cash Flow $38,339
Cash Flow per fully diluted share: $ 0.429
These numbers exclude taxes and interest. |
