qualifyy's Journal

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(Unaudited)
2008 2007

Operating activities:
Majority interest net income $10,387 $195,999
Add charges (deduct credit) to
operations not requiring (providing) funds:
Depreciation and amortization 495,515 353,815
Net gain on insurance recovery (934) (45,248)
Increase in allowance for inventory of
components of signal distribution systems 2,296 406
Effects from associated companies 33,846 (1,211)
Accrual for pension, seniority premiums
and severance 7,395 5,547
Deferred income taxes (1,707) 65,041
Deferred employee statutory profit sharing (4,627) (2,260)
Minority interest 84 284
Financial instruments (90,971) (59,274)

Funds provided by operations 451,284 513,099

Net financing from (investing in)
operating accounts:
Trade and other accounts receivable, net 19,068 60,557
Prepaid expenses (23,543) (15,301)
Accounts payable 146,590 (22,489)
Accruals and accrued liabilities 54,778 25,957
Taxes payable 36,812 (19,857)
Subscriber deposits and advances (16,293) (20,654)
Employee statutory profit sharing 290 502
Related parties 980 22,112

Funds provided by operating activities 669,966 543,926

Financing activities:
Proceeds from (payments of) bank loans, net (426,744) 287,651
Proceeds from notes and payments of
commercial paper obligations, net 47,628 9,764
Proceeds from (payments of) capital lease
obligations (4,172) 16,024
Capital stock increases 9,683 -
Additional paid-in capital 1,098,195 -
Dividends paid (98,615) (38,212)
Income tax long-term (5,289) (142)

Funds provided by financing activities 620,686 275,085

Investing activities:
Inventory of components of signal
distribution systems (249,304) (79,441)
Capital expenditures (916,170) (741,529)
Other assets, net (14,781) (55,290)
Investment in associated companies (36,647) (5,757)
Insurance recovery 934 45,248

Funds used in investing activities (1,215,968) (836,769)

(Decrease) increase in cash and
cash equivalents 74,684 (17,758)

Cash and cash equivalents:
At beginning of year 54,518 55,993

At end of year $129,202 $38,235.

Current Mood: nauseated