Lancer Orthodontics, Inc. (LANZ)

Lancer Orthodontics Cash Flow Statement

Financials in millions USD. Fiscal year is June - May.

Fiscal Year	TTM	FY 2004	FY 2003	FY 2002	FY 2001	FY 2000
Period Ending	Aug 31, 2004	May 31, 2004	May 31, 2003	May 31, 2002	May 31, 2001	May 31, 2000
Net Income	0.11	0.03	0.07	0.04	-0.12	-0.3
Depreciation & Amortization	0.09	0.08	0.08	0.11	0.12	0.15
Stock-Based Compensation	0.05	0.03	0.03	0.02	-	0.05
Provision & Write-off of Bad Debts	-0	-0.01	0.06	0.01	-	-0
Other Operating Activities	-0.01	-0.01	0.02	0.04	0.13	-
Change in Accounts Receivable	-0.37	-0.03	-0.03	0.03	0.07	0.12
Change in Inventory	-0.22	-0.09	0.32	0.02	-0.26	0.19
Change in Accounts Payable	0.24	-0.01	-0.02	-0.04	0.11	-0.09
Change in Other Net Operating Assets	0	-0.07	0.14	-0.12	0.01	0.02
Operating Cash Flow	-0.12	-0.08	0.66	0.09	0.07	0.15
Operating Cash Flow Growth	-	-	620.44%	29.77%	-51.67%	-
Capital Expenditures	-0.31	-0.39	-0.2	-0	-0.01	-0.01
Other Investing Activities	-0	-0.01	-0.01	-0.02	-0.01	-
Investing Cash Flow	-0.31	-0.4	-0.21	-0.02	-0.02	-0.01
Short-Term Debt Repaid	-	-0	-0.07	-0.07	-0.02	-0.02
Total Debt Repaid	-0	-0	-0.07	-0.07	-0.02	-0.02
Net Debt Issued (Repaid)	-0	-0	-0.07	-0.07	-0.02	-0.02
Issuance of Common Stock	0.27	0.27	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-	-0.12
Financing Cash Flow	0.27	0.27	-0.07	-0.07	-0.02	-0.14
Net Cash Flow	-0.16	-0.21	0.38	-0	0.03	-0
Free Cash Flow	-0.43	-0.47	0.46	0.09	0.06	0.13
Free Cash Flow Growth	-	-	419.49%	44.03%	-54.81%	-
Free Cash Flow Margin	-6.93%	-7.83%	7.74%	1.46%	1.03%	2.39%
Free Cash Flow Per Share	-0.16	-0.19	0.20	0.04	0.03	0.07
Cash Interest Paid	0	0	0	0.02	0.02	0.02
Cash Income Tax Paid	0	0	0	0	0	0
Levered Free Cash Flow	-0.57	-0.56	0.36	0.08	0.1	0.05
Unlevered Free Cash Flow	-0.57	-0.56	0.36	0.1	0.12	0.07
Change in Net Working Capital	0.37	0.22	-0.47	0.07	-0.07	-0.24

Source: S&P Global Market Intelligence. Standard template. Financial Sources.