LensCrafters 2007 Annual Report Download - page 63

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> 62 | ANNUAL REPORT 2007
In accordance with U.S GAAP
(1) 2005 figures have been reclassified to include the sale of Things Remembered, Inc., that was sold in September 2006.
(2) 2007 figures include results of Oakley from the acquisition date (14 November 2007).
STATEMENTS
OF CHANGE IN NET
FINANCIAL POSITION
(Euro/000) 2007 2006 2005
(2) (1)
Cash 339,122 367,461 253,246
Bank overdraft (168,358) (275,956) (286,979)
Current portion of long-term debt (359,527) (110,978) (405,079)
Long-term debt (959,735) (1,417,931) (1,275,373)
Net financial position, beginning of the year (1,148,498) (1,437,404) (1,714,185)
Net income from Continuing operations 492,204 430,705 330,790
Depreciation and amortization 232,813 220,797 184,652
Change in net working capital (365,083) (34,423) 139,312
Provision and other (17,184) (13,805) (49,051)
Operating cash flow 342,750 603,274 605,704
Capital expenditure (334,769) (272,180) (220,016)
(Investments)/Disposal in intangible assets (3,883) (1,140) (4,479)
Purchase of business net of cash acquired (1,491,086) (134,114) (86,966)
Sale of Pearle Europe --144,000
Sale of Things Remembered - 128,007 -
Other 29,700 15,691 1,022
Free cash flow (1,457,288) 339,538 439,265
Dividends (191,077) (131,369) (103,484)
Exercise of Stock Options 26,642 24,445 28,229
Effect of exchange adjustments to net financial position (101,613) 56,292 (87,228)
Decrease/(Increase) in net financial position (1,723,336) 288,906 276,781
Cash 302,894 339,122 367,461
Bank overdraft and notes payable (455,588) (168,358) (275,956)
Current portion of long-term debt (792,617) (359,527) (110,978)
Long-term debt (1,926,523) (959,735) (1,417,931)
Net financial position, end of the year (2,871,834) (1,148,498) (1,437,404)