GSIG » Topics » Liquidity and Capital Resources

This excerpt taken from the GSIG 10-Q filed Jul 31, 2008.

Liquidity and Capital Resources

Cash and cash equivalents totaled $183.3 million at June 27, 2008 compared to $171.7 million at December 31, 2007. Long-term investments, at June 27, 2008 and December 31, 2007, consisted of a 25.1% equity investment in a private United Kingdom company which was valued at $1.0 million and 0.9 million, respectively.

This excerpt taken from the GSIG 10-Q filed May 5, 2008.

Liquidity and Capital Resources

Cash and cash equivalents totaled $170.7 million at March 28, 2008 compared to $171.7 million at December 31, 2007. Long-term investments, at March 28, 2008 and December 31, 2007, consist of a 25.1% equity investment in a private United Kingdom company which was valued at $1.0 million.

 

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Table of Contents
This excerpt taken from the GSIG 10-K filed Mar 10, 2008.

Liquidity and Capital Resources

STYLE="margin-top:6px;margin-bottom:0px; margin-left:2%">Lines of Credit

At both
December 31, 2007 and December 31, 2006, the Company had no bank lines of credit.

This excerpt taken from the GSIG 10-Q filed Nov 2, 2007.

Liquidity and Capital Resources

Cash and cash equivalents totaled $161.7 million at September 28, 2007 compared to $138.3 million at December 31, 2006. Long-term investments, at both September 28, 2007 and December 31, 2006 consist of a 25.1% equity investment in a private United Kingdom company which was valued at $0.8 million at September 28, 2007 and $0.7 million at December 31, 2006.

This excerpt taken from the GSIG 10-Q filed Aug 7, 2007.

Liquidity and Capital Resources

Cash and cash equivalents totaled $152.3 million at June 29, 2007 compared to $138.3 million at December 31, 2006. Long-term investments, at both June 29, 2007 and December 31, 2006 consist of a 25.1% equity investment in a private United Kingdom company which was valued at $0.8 million at June 29, 2007 and at $0.7 million at December 31, 2006.

This excerpt taken from the GSIG 10-Q filed May 4, 2007.

Liquidity and Capital Resources

Cash and cash equivalents totaled $147.4 million at March 30, 2007 compared to $138.3 million at December 31, 2006. Long-term investments, at March 30, 2007 and December 31, 2006, consist of a 25.1% equity investment in a private United Kingdom company which was valued at $0.7 million.

This excerpt taken from the GSIG 10-Q filed Nov 6, 2006.

Liquidity and Capital Resources

Cash and cash equivalents totaled $131.0 million at September 29, 2006 compared to $69.3 million at December 31, 2005. In addition, the Company had no marketable short-term investments and no marketable long-term investments at September 29, 2006, compared to $26.8 million in marketable short-term investments at December 31, 2005. Long-term investments, at September 29, 2006 and December 31, 2005, consist of a minority equity investment in a private United Kingdom company which was valued at $0.7 million and $0.6 million, respectively.

This excerpt taken from the GSIG 10-Q filed Aug 9, 2006.

Liquidity and Capital Resources

Cash and cash equivalents totaled $115.3 million at June 30, 2006 compared to $69.3 million at December 31, 2005. In addition, the Company had no marketable short-term investments and no marketable long-term investments at June 30, 2006, compared to $26.8 million in marketable short-term investments at December 31, 2005. Long-term investments, at both June 30, 2006 and December 31, 2005 consist of a minority equity investment in a private United Kingdom company valued at $0.6 million.

This excerpt taken from the GSIG 10-Q filed Nov 8, 2005.

Liquidity and Capital Resources

          Cash and cash equivalents totaled $84.2 million at September 30, 2005 compared to $82.3 million at December 31, 2004. In addition, the Company had $9.3 million in marketable short-term investments and nil in marketable long-term investments at September 30, 2005 compared to $3.0 million in marketable short-term investments and $5.0 million in marketable long-term investments at December 31, 2004. Included in long-term investments at September 30, 2005 and December 31, 2004 is a minority equity investment in a private United Kingdom company valued at $0.6 million and $0.7 million, respectively. As discussed in note 5 to the consolidated financial statements, at September 30, 2005 $5.0 million of short-term investments were pledged as collateral for the Bank of America security agreement.

This excerpt taken from the GSIG 10-Q filed Aug 10, 2005.

Liquidity and Capital Resources

          Cash and cash equivalents totaled $64.0 million at July 1, 2005 compared to $82.3 million at December 31, 2004. In addition, the Company had $14.3 million in marketable short-term investments and nil in marketable long-term investments at July 1, 2005 compared to $3.0 million in marketable short-term investments and $5.0 million in marketable long-term investments at December 31, 2004. Included in long-term investments at July 1, 2005 and December 31, 2004 is a minority equity investment in a private United Kingdom company valued at $0.6 million and $0.7 million, respectively. As discussed in note 5 to the consolidated financial statements, at July 1, 2005 $5.0 million of short-term investments were pledged as collateral for the Bank of America security agreement.

This excerpt taken from the GSIG 10-Q filed May 11, 2005.

Liquidity and Capital Resources

     Cash Flows for Three Months Ended April 1, 2005 and April 2, 2004

     Cash and cash equivalents totaled $74.4 million at April 1, 2005 compared to $82.3 million at December 31, 2004.  In addition the Company had $8.0 million in marketable short-term investments and $5.0 million in marketable long-term investments at April 1, 2005 compared to $3.0 million in marketable short-term investments and $5.0 million in marketable long-term investments at December 31, 2004.  Also included in long-term investments is a minority equity investment in a private United Kingdom company valued at $0.7 million at both April 1, 2005 and December 31, 2004.

     Cash flows used in operating activities for the three months ended April 1, 2005 were $1.2 million, compared to $6.5 million provided in cash during the same period in 2004. Net income after adjusting for loss on long lived asset, depreciation and amortization, unrealized loss on derivatives, stock-based compensation and deferred income taxes provided cash of $3.5 million in the first quarter of 2005. Decreases in accounts receivable and other current assets provided $8.3 million.  The decrease in receivables is primarily the result of a decrease in sales in the quarter.  Days sales outstanding were 75 days in the first quarter in 2005 as compared to 78 days in the first quarter of 2004.  Increases in inventories and decreases in current liabilities used $13.0 million in cash.  Net income after adjusting for loss on sale of investments, depreciation and amortization, stock-based compensation and deferred income taxes provided cash of $10.2 million in the first three months of 2004. Decreases in other current assets and increases in current liabilities provided $12.3 million, which was offset by increases in accounts receivable and other current assets using $16.0 million in cash during the first three month in 2004.  The increase in receivables and inventories in the first quarter of 2004 was mainly due to the large volume increase in sales and bookings of orders in the first quarter of 2004.

     Cash flows used in investing activities were $5.8 million during the three months ended April 1, 2005, primarily from the net purchases of short and long-term investments of $5.0 million and additions to property plant and equipment of $0.9 million offset by decreases in other long-term assets of $0.1 million. Cash flows from investing activities provided $20.9 million during the three months ended April 2, 2004, primarily from the net purchases of short and long-term investments of $21.1 million.

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     Cash flows provided by financing activities during the three months ended April 1, 2005 were $0.2 million from the issue of share capital from the exercise of stock options, compared to $0.3 million for the same period in 2004.

  Other Liquidity Matters

     There have been no significant changes in the Company’s lines of credit, pensions, contractual obligations, acquisitions or off-balance sheet arrangements since December 31, 2004.

     Our future liquidity and cash requirements will depend on numerous factors, including, but not limited to, the level of sales we will be able to achieve in the future, the amount of expenses incurred, the introduction of new products and potential acquisitions of related businesses or technology.  We believe that existing cash and investment balances, together with cash generated from operations, will be sufficient to satisfy anticipated cash needs to fund working capital and investments.

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