| Cash Flow for Omega Navigation Enterprises Inc. (ONAV) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | | | Net Income | 14,886 | 4,565 | 4,378 | | Depreciation & Amortization | 17,557 | 7,236 | 3,877 | | Deferred Income Taxes | 307 | 197 | - | | Operating Losses | - | - | (1,012) | | Extraordinary Losses | - | - | - | | | Decrease in Receivables | (150) | (18) | (178) | | Decrease in Inventories | 4 | (504) | - | | Decrease in Other Current Assets | (386) | (452) | (2) | | Increase in Payables | (465) | 989 | 290 | | Increase in Other Current Liabilities | 1,462 | 2,476 | 2,218 | | Decrease in Other Working Capital | - | - | - | | Other Non-Cash Items | 852 | 313 | - | | Net Cash from Continuing Operations | 34,067 | 14,802 | 9,571 | | Net Cash from Discontinued Operations | (695) | 7,728 | - | | Cash from Operating Activities | 33,372 | 22,530 | 9,571 | | | | Sale of Property, Plant, Equipment | - | - | 21,000 | | Sale of Short Term Investments | - | - | - | | | Purchase of Property, Plant, Equipment | (165,178) | (357,867) | (64,364) | | Acquisitions | - | - | - | | Purchase of Short Term Investments | - | - | - | | Other Investment Changes, Net | 81,468 | - | - | | Cash from Investing Activities | (83,710) | (357,867) | (43,364) | | | Issuance of Debt | 156,760 | 203,069 | 55,377 | | Issuance of Capital Stock | - | 159,874 | 10,030 | | | Repayment of Debt | (33,320) | (2,352) | (2,475) | | Repurchase of Capital Stock | - | - | (1,163) | | Payment of Cash Dividends | (30,411) | (15,150) | - | | Other Financing Charges, Net | (37,660) | (11,300) | (22,917) | | Cash from Financing Activities | 55,369 | 334,141 | 38,851 | | | | Effect of Exchange Rate Changes | - | - | - | | Net Change in Cash | 5,031 | (1,196) | 5,058 | | | Cash at Beginning of Year | 3,862 | 5,058 | - | | Cash at End of Period | 8,893 | 3,862 | 5,058 | | | |
