when i read the 6-K, i see the following numbers - Cash $535.7M A/R $365.5M A/P $719.8M Short & Long Term Borrowing $139.7M
Not sure how much of the borrowings are long term. Still seems like a very good position to be in with the anticipated growth in the market!
Assuming for a moment that the majority of the borrowings are longer term, still leaves (535.7+365.5-719.8) around $181.4M to be in a very healthy situation.
>hey longsdumb, >realisticin, >stkarb1' >you guys are realy >dumb,don't you know how >to read a financial >statement? >ok let me repeat it >again the co. has cash >535,700,000,accounts >recievable of >365,533,000 >total cash and a/r >901,233,000. >against that co.has >total liabilities of >859,467,000. >bottom line is co. >needs all their cash >and a/r to pay off >their accounts payable >and their loans >outstanding. >therefore the fact they >have all that cash >don't mean squat,they >need that cash to pay >of their outstanding obligations. again i like this stock, but hate mindless pumpers
If you are including AP and AR, you also have to count in their Inventory. Most companies in this industry can convert their inventory into cash at about 50% rate (i.e. through an inventory line)... $316.9mm x 50% = $158mm. Add this amount to your number. One can also argue that you should add something for the additional $82mm in current investments in other companies...