Q1-02 US GAAP - MKS
Q1-02 US GAAP - MKS
Q1-02 US GAAP - MKS
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Mortice Kern Systems Inc.<br />
Consolidated Statements of Cash Flows<br />
(Dollar Amounts in <strong>US</strong>, In Thousands, Unaudited)<br />
<strong>US</strong> <strong>GAAP</strong><br />
Three Months Ended July 31<br />
2001 2000<br />
(Unaudited)<br />
Cash flows from operating activities:<br />
Net loss ............................................................................................ $ (1,407) $ (12,475)<br />
Adjustments to reconcile net loss to net cash<br />
provided by (used for) operating activities:<br />
Deferred income taxes .................................................................. – (549)<br />
Depreciation and amortization of fixed assets................................... 365 314<br />
Amortization of intangibles ............................................................. 64 272<br />
Write down of intangibles .............................................................. – 8,091<br />
Interest on deferred compensation .................................................. 29 30<br />
Change in operating assets and liabilities, net of acquired balances:<br />
Accounts receivable ...................................................................... 795 3,186<br />
Other current assets ..................................................................... (294) 480<br />
Accounts payable, net of deferred compensation ............................. 446 286<br />
Accrued liabilities ......................................................................... (952) (298)<br />
Income taxes payable ................................................................... (35) (439)<br />
Deferred revenue ........................................................................... (716) (1,<strong>02</strong>7)<br />
Net cash used for operating activities .................................................. (1,705) (2,129)<br />
Cash flows from investing activities:<br />
Purchase of fixed assets ................................................................. (76) (471)<br />
Net cash used for investing activities ................................................... (76) (471)<br />
Cash flows from financing activities:<br />
Proceeds on issuance of common shares ......................................... 145 420<br />
Payments of deferred compensation ................................................. (182) –<br />
Net cash provided by (used for) financing activities ................................ (37) 420<br />
Effect of exchange rate changes on cash balances ............................... – 126<br />
Change in cash and cash equivalents .................................................. (1,818) (2,054)<br />
Cash and cash equivalents, beginning of period .................................... 9,005 8,193<br />
Cash and cash equivalents, end of period ............................................ $ 7,187 $ 6,139<br />
Supplemental schedules:<br />
Cash paid for:<br />
Interest .......................................................................................... $ 3 $ 32<br />
Income taxes ................................................................................. $ 35 $ 360<br />
See accompanying Notes to Consolidated Financial Statements prepared in accordance with accounting<br />
principles generally accepted in the United States of America