Vartech Systems Cash Flow Statement

Financials in millions USD. Fiscal year is August - July.

Millions USD. Fiscal year is Aug - Jul.

Fiscal Year	TTM	FY 2003	FY 2002	FY 2001	FY 2000	FY 1999
Period Ending	Oct '03 Oct 31, 2003	Jul '03 Jul 31, 2003	Jul '02 Jul 31, 2002	Jul '01 Jul 31, 2001	Jul '00 Jul 31, 2000	Jul '99 Jul 31, 1999
Net Income	0.2	0.18	0.16	0.14	0.14	-0.19
Depreciation & Amortization	0.04	0.05	0.13	0.09	0.09	0.18
Loss (Gain) From Sale of Assets	-	-	-	-	-	0.01
Stock-Based Compensation	0.15	0.15	-	-	-	-
Other Operating Activities	0.01	0.01	-0.02	0.01	-0.06	-0.13
Change in Accounts Receivable	-0	0.03	-0.1	-0.07	0.06	0.24
Change in Inventory	-0.04	-0.13	-0.4	-0.19	0.02	0.13
Change in Accounts Payable	-0.11	0.06	0.12	-0.04	-0.02	-0.31
Change in Income Taxes	-0.04	-0.04	0.04	0.03	-	-0.02
Change in Other Net Operating Assets	0.06	0.03	-0.01	0.13	-0.02	0.01
Operating Cash Flow	0.26	0.35	-0.09	0.1	0.21	-0.09
Operating Cash Flow Growth	-	-	-	-52.64%	-	-
Capital Expenditures	-0.04	-0.05	-0	-0	-0.05	-0.05
Divestitures	-	-	-	-	-	0
Other Investing Activities	-	-	-	0.02	-0.02	-
Investing Cash Flow	-0.04	-0.05	-0	0.02	-0.07	-0.05
Short-Term Debt Issued	-	-	0.04	-	-	0.01
Long-Term Debt Issued	-	0.04	-	-	-	-
Total Debt Issued	0.07	0.04	0.04	-	-	0.01
Short-Term Debt Repaid	-	-0.26	-	-0.05	-0	-0.04
Long-Term Debt Repaid	-	-0	-	-	-	-
Total Debt Repaid	-0.26	-0.26	-	-0.05	-0	-0.04
Net Debt Issued (Repaid)	-0.19	-0.22	0.04	-0.05	-0	-0.03
Issuance of Common Stock	-	-	-	-	-	0.15
Repurchase of Common Stock	-0.17	-	-	-	-0.15	-
Financing Cash Flow	-0.36	-0.22	0.04	-0.05	-0.15	0.12
Net Cash Flow	-0.13	0.08	-0.05	0.06	-0.01	-0.02
Free Cash Flow	0.22	0.3	-0.09	0.1	0.16	-0.14
Free Cash Flow Growth	-	-	-	-39.38%	-	-
Free Cash Flow Margin	2.84%	3.88%	-1.44%	1.67%	3.82%	-2.50%
Free Cash Flow Per Share	0.11	0.15	-0.04	0.05	0.08	-0.07
Cash Interest Paid	0.01	0.01	0.01	0.04	0.04	0.04
Cash Income Tax Paid	0.13	0.13	0.06	0.04	-	0.01
Levered Free Cash Flow	0.07	0.14	0.01	0.05	0.27	0.33
Unlevered Free Cash Flow	0.07	0.15	0.02	0.08	0.29	0.38
Change in Working Capital	-0.13	-0.04	-0.35	-0.14	0.04	0.05

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