This excerpt taken from the FLE 8-K filed Dec 13, 2007.
Next question is from Robert Rodriguez from First Pacific Advisors. Please go ahead.
Good afternoon, gentlemen. Just a couple of quick questions. I was curious about the inventory situation you have, just on the financials which show down 7% over year-over-year pretty much in line with revenues. How should we look at where inventories might reside, lets say by the end of this fiscal year and what you might think about pulling cash out or cash usage. And secondly, if you could give us a sense of where you think the total cash would be for the company to begin this next fiscal year.
Bob, this is Boyd. My sense is that with regard to inventories, by the end of the fiscal year we would expect them to be certainly no higher than they were at the end of the second quarter and probably just a bit lower, but only perhaps low single-digit reductions. With regard to cash, my guess is that we would be a few million dollars short of where we were at the end of Q2.