This one is for our friendly Ice-Cube forecaster!<lol>
BTW...his MO looks like "crapola" on the charts now
...so thats why he's so silent. A breach of 40 would not be so good, so Rare I hope your are watching.
C-CUBE MICROSYSTEMS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Six Months Ended June 30,
-------------------------
1998 1997
--------- ---------
Cash flows from operating activities:
Net income........................................ $ 20,847 $ 23,079
Adjustments to reconcile net income to net cash
provided by operating activities:
Extraordinary gain on repurchase of
convertible notes............................. (1,138) --
Minority interest in subsidiary................. (169) (83)
Depreciation and amortization................... 8,528 7,727
Deferred income taxes........................... (281) (1,133)
Changes in assets and liabilities:
Receivables.................................. 6,489 (2,211)
Inventories.................................. (5,179) 6,596
Other current assets......................... (107) 8,730
Accounts payable............................. 12,559 (1,209)
Accrued liabilities.......................... 1,739 2,274
Income taxes payable......................... 7,552 4,411
--------- ---------
Net cash provided by operating activities.......... 50,840 48,181
--------- ---------
Cash flows from investing activities:
Sales and maturities of short-term investments..... 24,646 4,000
Purchases of short-term investments................ (5,408) (7,496)
Capital expenditures............................... (9,382) (8,674)
Other assets....................................... 241 154
--------- ---------
Net cash provided by (used in) investing activities 10,097 (12,016)
--------- ---------
Cash flows from financing activities:
Repayments of capital lease obligations............ (491) (283)
Sale of common stock............................... 6,537 4,737
Collection of stockholder notes receivable......... -- 305
Repurchase of convertible subordinated notes....... (17,468) --
--------- ---------
Net cash provided by (used in) financing activities (11,422) 4,759
--------- ---------
Exchange rate impact on cash and equivalents......... (51) (36)
--------- ---------
Net increase in cash and equivalents................. 49,464 40,888
Cash and equivalents, beginning of period............ 145,034 76,241
--------- ---------
Cash and equivalents, end of period.................. $194,498 $117,129
========= =========
Supplemental schedule of noncash investing and
financing activities:
Unrealized loss on investments..................... $ (13) $ (25)
Forgiveness of note payable for production
capacity rights.................................. -- 24,500
Cash paid during the period for:
Interest........................................ $ 2,899 $ 2,726
Income taxes.................................... 941 3,685 |
