| Cash Flow for Ultrapetrol Ltd. (ULTR) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 4,441 | 10,526 | 14,568 | 5,139 | (11,518) | | Depreciation & Amortization | 27,620 | 19,920 | 14,494 | 13,493 | 15,335 | | Deferred Income Taxes | - | - | - | - | - | | Operating Losses | (14,182) | (4,135) | (20,000) | (10,446) | 168 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (6,654) | (6,765) | (1,008) | 5,047 | 6,860 | | Decrease in Inventories | (3,177) | 17 | (1,353) | 405 | 583 | | Decrease in Other Current Assets | - | - | - | 3,783 | - | | Increase in Payables | 2,973 | (436) | 1,209 | 1,801 | 1,404 | | Increase in Other Current Liabilities | 2,072 | (2,890) | 657 | (3,749) | 1,024 | | Decrease in Other Working Capital | 1,199 | (782) | (219) | (2,546) | (145) | | Other Non-Cash Items | 19,745 | 2,826 | (415) | 5,433 | (1,782) | | Net Cash from Continuing Operations | 41,900 | 28,801 | 16,671 | 23,129 | 20,471 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 41,900 | 28,801 | 16,671 | 23,129 | 20,471 | | | | Sale of Property, Plant, Equipment | 42,614 | 2,630 | 37,888 | 6,430 | 16,134 | | Sale of Short Term Investments | - | - | - | - | - | | | Purchase of Property, Plant, Equipment | (169,388) | (52,699) | (51,461) | (59,934) | (20,669) | | Acquisitions | (13,772) | (59,014) | - | (1,713) | - | | Purchase of Short Term Investments | - | - | - | - | - | | Other Investment Changes, Net | (60,102) | 5,054 | (13,152) | (797) | (1,750) | | Cash from Investing Activities | (200,648) | (104,029) | (26,725) | (57,556) | (6,285) | | | Issuance of Debt | 145,122 | - | 10,500 | 207,700 | - | | Issuance of Capital Stock | 91,094 | 125,186 | - | 3,000 | - | | | Repayment of Debt | (32,181) | (33,077) | (19,354) | (177,306) | (9,700) | | Repurchase of Capital Stock | - | (4,303) | - | - | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | (1,673) | 156 | 15,220 | 4,387 | (962) | | Cash from Financing Activities | 202,362 | 87,962 | 6,366 | 37,781 | (10,662) | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | 43,614 | 12,734 | (3,688) | 3,354 | 3,524 | | | Cash at Beginning of Year | 20,648 | 7,914 | 11,602 | 8,248 | 4,724 | | Cash at End of Period | 64,262 | 20,648 | 7,914 | 11,602 | 8,248 | | | |
