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Non-Tech : Hvide Marine HMAR - High Growth, Undervalued
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To: Thomas C. Donald who wrote (227)2/1/1998 11:02:00 AM
From: scott mcdowell  Read Replies (2) of 547
 
I think you are mixing up cash flow which is earings before interest,
taxes,depreciation, and amortization with free cash flow which is net income and depeciation added back in as it is a non-cash charge. This figure is what would be available to pay back debt and would be much less than 81 million you quoted. Latest earnings will break this out for you.
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