| Cash Flow for Vitran Corp. Inc. (VTNC) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 13,710 | 19,399 | 17,938 | 14,943 | 10,336 | | Depreciation & Amortization | 20,770 | 12,490 | 6,965 | 5,206 | 5,494 | | Deferred Income Taxes | (775) | 1,945 | 3,685 | 1,266 | (292) | | Operating Losses | (432) | (434) | 613 | 177 | (128) | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | - | 2,278 | - | (4,439) | (6,053) | | Decrease in Inventories | - | 598 | - | (77) | 348 | | Decrease in Other Current Assets | - | - | - | - | - | | Increase in Payables | - | (2,001) | - | (715) | 6,778 | | Increase in Other Current Liabilities | - | - | (2,034) | (1,608) | - | | Decrease in Other Working Capital | (1,274) | 151 | - | - | 2,266 | | Other Non-Cash Items | 997 | 698 | - | - | - | | Net Cash from Continuing Operations | 32,996 | 35,124 | 27,167 | 14,753 | 18,749 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 32,996 | 35,124 | 27,167 | 14,753 | 18,749 | | | | Sale of Property, Plant, Equipment | 931 | 2,490 | 97 | 248 | 423 | | Sale of Short Term Investments | - | - | 31,974 | - | - | | | Purchase of Property, Plant, Equipment | (22,870) | (27,136) | (22,863) | (6,242) | (6,895) | | Acquisitions | (14,891) | (91,535) | (28,192) | - | - | | Purchase of Short Term Investments | - | - | - | (3,981) | (26,996) | | Other Investment Changes, Net | - | - | - | - | - | | Cash from Investing Activities | (36,830) | (116,181) | (18,984) | (9,975) | (33,468) | | | Issuance of Debt | 24,170 | 74,730 | 2,947 | - | - | | Issuance of Capital Stock | 403 | 479 | 282 | 1,440 | 30,992 | | | Repayment of Debt | (16,966) | (7,469) | (3,030) | (11,716) | (11,396) | | Repurchase of Capital Stock | (403) | (33) | (921) | - | (644) | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | (917) | - | - | - | - | | Cash from Financing Activities | 6,287 | 67,707 | (722) | (10,276) | 18,952 | | | | Effect of Exchange Rate Changes | (2,530) | 212 | (244) | 456 | 182 | | Net Change in Cash | (77) | (13,138) | 7,217 | (5,042) | 4,415 | | | Cash at Beginning of Year | 5,208 | 14,592 | 7,375 | 12,417 | 8,002 | | Cash at End of Period | 5,131 | 1,454 | 14,592 | 7,375 | 12,417 | | | |
