Bresler & Reiner, Inc.

BRER · OTC
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12/31/2008
12/31/2007
12/31/2006
12/31/2005
Operating Activities
Net Income-$21,447-$9,288$16,329-$2,249
Dep. & Amort.$27,046$30,299$25,776$15,398
Deferred Tax-$2,578$534$187$2,542
Stock-Based Comp.$0$0$0$0
Change in WC-$1,793-$9,160-$8,396$3,064
Other Non-Cash-$2,683-$23,110-$42,253-$26,737
Operating Cash Flow$11,350-$9,780-$8,357-$7,982
Investing Activities
PP&E Inv.-$15,968-$107,888-$178,193-$114,487
Net Acquisitions-$7,486-$28,546-$9,495-$24,462
Inv. Purchases$0$0-$8,985-$26,493
Inv. Sales/Matur.$21,017$64,499$89,183$6,708
Other Inv. Act.$5,634$36,118$1,535$4,962
Investing Cash Flow$3,501-$35,817-$105,955-$153,772
Financing Activities
Debt Repay.-$17,765$58,455$153,744$203,303
Stock Issued$0$0$0$0
Stock Repurch.$0$0$0$0
Dividends Paid-$822-$8,172-$1,643-$1,534
Other Fin. Act.-$1,814-$797-$30,418-$40,347
Financing Cash Flow-$20,401$54,372$121,683$162,660
Forex Effect$0$0$0$0
Net Chg. in Cash-$5,550$8,775$7,371$906
Supplemental Information
Beg. Cash$26,966$18,191$10,820$9,914
End Cash$21,416$26,966$18,191$10,820
Free Cash Flow-$4,618-$117,668-$186,550-$122,469