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This excerpt taken from the OMPI 10-Q filed Aug 7, 2007. Interest
income and Interest expense. Interest expense was $1.8 million during the six
months ended June 30, 2007, as compared to $3.1 million for the six months
ended June 30, 2006. The decline is attributable to a prepayment of $35.0
million in debt with the net cash proceeds received in our initial public
offering in December 2006 and a mandatory prepayment of $1.3 million and
optional prepayments of $14.0 million in debt during the six months ended June 30,
2007, and the normal principal payments we made during the fiscal years 2006
and 2007, offset by an increase in the weighted average interest rate of 0.3%
on our outstanding debt balance, This decline was partially offset by the
accelerated write off of $0.5 million in deferred debt issuance costs due to
the debt prepayments made in the three months ended June 30, 2006. Interest
income was $0.1 million for the six months ended June 30, 2007. The
increase is primarily due to the investment of the majority of our cash balance
into a higher interest rate yielding money market account during the six months
ended June 30, 2007.
This excerpt taken from the OMPI 10-Q filed May 8, 2007. Interest
income and Interest expense. Interest expense was $0.7 million during the
three months ended March 31, 2007, as compared to $1.5 million for
the three months ended March 31, 2006. The decline is attributable to a
prepayment of $35.0 million in debt with the net cash proceeds received in
our initial public offering in December 2006, in addition to the normal
principal payments we made during the fiscal year 2006, offset by an increase
in the weighted average interest rate of 0.5% on our outstanding debt balance
during the three months ended March 31, 2007 compared to the three months
ended March 31, 2006. Interest income was $44,000 for the three months
ended March 31, 2007. The increase is primarily due to the investment of
the majority of our cash balance into a higher interest rate yielding money
market account during the three months ended March 31, 2007.
20 This excerpt taken from the OMPI 10-K filed Mar 15, 2007. Interest income and
Interest expense. Interest
expense was $6.1 million during the year ended December 31, 2005, as
compared to $20,000 for the year ended December 31, 2004. The increase in
interest expense relates to outstanding loans under our Credit Agreement dated January 28,
2005, which mature in January 2010 and January 2011, respectively.
Interest income decreased $100,000 to $61,000 during the year ended December 31,
2005, as compared to $161,000 for the year ended December 31, 2004. The
decrease during the year ended December 31, 2005 is primarily due to our
average cash balance of approximately $5.4 million during the year ended December 31,
2005, being lower as compared to approximately $12.1 million during the
year ended December 31, 2004.
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