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Technology Stocks : Westell WSTL -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (20068)	8/16/2000 1:23:12 PM
From: Sir Auric Goldfinger	Read Replies (1) \| Respond to of 21342

And #2, PROOF that WSTL did NOT "make money:" Cash Flow from Operations: " WESTELL TECHNOLOGIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS <CAPTION> Three Months Ended June 30, ----------------------------------------- 1999 2000 ----------------- ----------------- (unaudited) (in thousands) <S> <C> <C> Cash flows from operating activities: Net loss........................................................... $ (3,432) $ (5,232) Reconciliation of net loss to net cash used in operating activities: Depreciation and amortization.................................... 1,857 10,530 Interest expenses related to conversion of debentures............ - 135 Changes in assets and liabilities: Increase in accounts receivable.................................. (2,136) (37,911) Increase in inventory............................................ (1,252) (12,734) Decrease (increase) in prepaid expenses and deposits............. 286 (397) Decrease in refundable income taxes.............................. 5 - (Increase) decrease in other assets.............................. (1,425) 546 (Decrease) increase in accounts payable and accrued expenses..... (2,678) 22,918 Decrease in accrued compensation................................. (1,656) (663) ----------------- ----------------- Net cash used in operating activities......................... (10,431) (22,808) ----------------- ----------------- Cash flows from investing activities: Purchases of property and equipment.............................. (940) (6,682) Decrease in short term investments............................... - 1,951 ----------------- ----------------- Net cash used in investing activities......................... (940) (4,731) ----------------- ----------------- Cash flows from financing activities: (Repayment) borrowing of long-term debt and leases payable....... (669) 3,692 Net borrowing under revolving promissory notes................... - 8,000 Proceeds from issuance of convertible debt....................... 19,000 - Proceeds from the issuance of common stock....................... 1,132 1,574 ----------------- ----------------- Net cash provided in financing activities.................... 19,463 13,266 ----------------- ----------------- Effect of exchange rate changes on cash............................ 4 (26) Net increase (decrease) in cash............................... 8,096 (14,299) Cash and cash equivalents, beginning of period..................... 6,715 27,258 ----------------- ----------------- Cash and cash equivalents, end of period........................... $ 14,811 $ 12,959 ================= ================= The accompanying notes are an integral part of these Condensed Consolidated Financial Statements </TABLE> 5