TOSBF » Topics » Cash Flow

This excerpt taken from the TOSBF 8-K filed Nov 10, 2009.

Cash Flow

Cash flow from operations was $433.0 million in fiscal 2009, compared with $327.9 million in the prior year. Free cash flow, a non-GAAP measure reflecting cash flow from operations less capital expenditures and capitalized software costs, was $305.1 million, compared with $210.3 million in the prior year. The improvement in free cash flow was principally driven by improved receivables collections and stronger operating performance, partially offset by lower Outsourcing net deferrals and higher performance-based compensation related to fiscal 2008 performance.

Adjusted EBITDA, a non-GAAP measure, was $566.6 million in fiscal 2009, compared with $517.3 million in the prior year. The increase reflects improved HR BPO operating performance, partially offset by lower Outsourcing net deferrals.

This excerpt taken from the TOSBF 8-K filed Nov 10, 2009.

Cash Flow

Cash from operations in the third quarter of 2009 was $62.5 million, compared to $35.1 million and $42.5 million generated from operations for the third quarter of 2008 and the second quarter of 2009,

 

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respectively. The $27.4 million increase in operating cash flow from the third quarter of 2008 reflects increased collections due to revenue growth and lower receivable days outstanding, as well as an $8.9 million income tax refund received in the current year. The $20.0 million increase from the second quarter of 2009 reflects the $8.9 million income tax refund and lower payments due to timing of annual physician bonuses earned on their efficient use of capital.

As of November 4, 2009, the Company had approximately $160 million of cash and investments, and availability under its revolving credit facility of $89.6 million.

This excerpt taken from the TOSBF 8-K filed Nov 10, 2009.

Cash Flow

Cash from operations in the third quarter of 2009 was $62.5 million, compared to $35.1 million and $42.5 million generated from operations for the third quarter of 2008 and the second quarter of 2009,

 

6


respectively. The $27.4 million increase in operating cash flow from the third quarter of 2008 reflects increased collections due to revenue growth and lower receivable days outstanding, as well as an $8.9 million income tax refund received in the current year. The $20.0 million increase from the second quarter of 2009 reflects the $8.9 million income tax refund and lower payments due to timing of annual physician bonuses earned on their efficient use of capital.

As of November 4, 2009, the Company had approximately $160 million of cash and investments, and availability under its revolving credit facility of $89.6 million.

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