Mastery Education Cash Flow Statement

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

Millions USD. Fiscal year is Jun - May.

Fiscal Year	FY 2012	FY 2011	FY 2010	FY 2009	FY 2008
Period Ending	May '12 May 31, 2012	May '11 May 31, 2011	May '10 May 31, 2010	May '09 May 31, 2009	May '08 May 31, 2008
Net Income	-9.33	-0.55	0.25	-1.11	-0.77
Depreciation & Amortization	0.34	0.18	0.24	0.32	0.34
Other Amortization	4.96	5.36	5.38	6.56	6.7
Asset Writedown & Restructuring Costs	2.4	-	-	-	-
Loss (Gain) From Sale of Investments	-0.01	0.01	-0.15	0.01	0.15
Stock-Based Compensation	0.21	0.18	0.06	0.05	0.05
Other Operating Activities	1.64	-0.33	0.15	0.46	-0.53
Change in Accounts Receivable	0.82	0.25	-0.15	0.82	0.3
Change in Inventory	2.03	0.4	0.63	0.18	0.79
Change in Accounts Payable	-0.86	-0.33	0.56	-0.48	-1.68
Change in Unearned Revenue	0.05	0.03	0.13	-0.2	0.15
Change in Income Taxes	-	-	0.64	-	-
Change in Other Net Operating Assets	0.63	0.14	0.39	0.53	0.47
Operating Cash Flow	2.86	5.35	8.12	7.14	5.96
Operating Cash Flow Growth	-46.43%	-34.17%	13.80%	19.73%	147.41%
Capital Expenditures	-0.11	-0.23	-0.09	-0.11	-0.18
Sale (Purchase) of Intangibles	-0.05	-0.09	-0.04	-0.02	-0.08
Other Investing Activities	-2.78	-4.77	-4.78	-4.82	-4.72
Investing Cash Flow	-2.94	-5.08	-4.9	-4.94	-4.98
Long-Term Debt Issued	2.28	1.64	-	-	-
Total Debt Issued	2.28	1.64	-	-	-
Long-Term Debt Repaid	-1.55	-2	-3.15	-2.21	-1.11
Total Debt Repaid	-1.55	-2	-3.15	-2.21	-1.11
Net Debt Issued (Repaid)	0.73	-0.36	-3.15	-2.21	-1.11
Issuance of Common Stock	-	0	-	-	0.09
Financing Cash Flow	0.73	-0.36	-3.15	-2.21	-1.03
Net Cash Flow	0.65	-0.09	0.07	-0.01	-0.05
Free Cash Flow	2.75	5.12	8.04	7.03	5.78
Free Cash Flow Growth	-46.27%	-36.29%	14.31%	21.56%	160.03%
Free Cash Flow Margin	10.73%	16.37%	23.02%	19.07%	14.46%
Free Cash Flow Per Share	0.62	1.15	1.80	1.58	1.30
Cash Interest Paid	0.32	0.29	0.49	0.69	1.18
Levered Free Cash Flow	5.82	5.03	7.55	6.75	5.3
Unlevered Free Cash Flow	6.01	5.22	7.72	7.18	6.11
Change in Working Capital	2.67	0.48	2.19	0.86	0.03

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