Fourth Quarter Conference Call - Fiscal 2006
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Capital expenditures totaled $23.9 million in the last quarter with depreciation amounting to $9.4 million and amortization amounting to $2.8 million. Free cash flow then amounted to $23 million. That's just about 100% of the net earnings for the quarter.
Cash taxes paid in the quarter were $9.6 million.
Reserves for estimated contract losses stood at $15.1 million compared to $13.5 million 90 days ago, as Bob outlined a few minutes ago.
In the re-affirmed guidance for '07 that Bob outlined a few minutes ago, we've lowered by a half million dollars our estimated interest expense to $22.0 million based on the reduction in our margin over Libor and reduced commitment fees on the new bank credit facility that we detailed in our press release of October 26, 2006.
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