Revenue Forecast
Historical Revenue Trends (AAPL)
Historical Year Historical Revenue Historical Growth Rate
2007-09-29 $24,578
2008-09-27 $37,491
2009-09-26 $42,905 14.44%
2010-09-25 $65,225 52.02%
Revenue Growth Forecast - 5 Year
Future Year Forecasted Revenue Forecasted Growth Rate
Future Year 1 $78,270 20.00%
Future Year 2 $93,924 20.00%
Future Year 3 $108,013 15.00%
Future Year 4 $118,814 10.00%
Future Year 5 $130,695 10.00%
Free Cash Flow Forecasts
Assumptions
EBIT (Operating) Margin 28.00%
Tax Rate 30.00%
(Depreciation + Amortization) Intensity 1.57%
Capital Expenditure Intensity 3.32%
Annual Increase/Decreasing in Working Capital $998.00
(FCF) Free Cash Flow Forecast (In Millions)
Year 1
Revenue $78,270.00
EBIT (Operating) Margin 28.00%
EBIT $21,915.60
Less: Taxes $6,574.68
Net Operating Earnings $15,340.92
(Dep. + Amort) Intensity 1.57%
Plus: Depreciation & Amortization $1,228.84
Capital Expenditure Intensity 3.32%
Less: Capital Expenditures $2,598.56
Plus/Less: Change in Working Capital $998.00
Free Cash Flow $14,969.20
Discounted Cash Flow Valuation
Assumptions Notes
The Discount Rate is the rate used to present value future cash flow
Discount Rate 8.00% additional risk that future cash flows might not materialize. The rate
as a default if you are unsure.
The Terminal Growth Rate is the expected long term growth rate of
Terminal Growth Rate 2.00% an industry or business to grow at a faster rate than the overall eco
4% as this is the historical growth of real GDP.
Discounted Cash Flow Valuation (AAPL)
Future Year Free Cash Flow Present Value
1 $14,969.20 $13,860.37
2 $17,763.43 $15,229.28
3 $20,278.25 $16,097.53
4 $22,206.27 $16,322.27
5 $24,327.10 $16,556.62
5+ $413,560.72 $281,462.48
Total Value of the Company $359,528.55
On-Balance Sheet Adjustments
Plus: Cash & Short Term Investments $25,620.00
Plus: Non Operating Assets $2,263.00
Less: Long Term Debt $0.00
Less: Current Portion - Long Term Debt $0.00
Less: Capital Leases $0.00
Less: Minority Interest $0.00
Less: Preferred Shares $0.00
Off-Balance Sheet Adjustments
Less: Capitalized Operating Leases $0.00
Plus/Less: Pension Plan Over/Under Funded $0.00
Less: Warrents / Stock Options $0.00
Total Adjustments $27,883.00
Total Value of Equity $387,411.55
Number of Shares Outstanding 915.97
Fundamental Value Per Share $422.95
Current Market Price $338.08
Recommendation (AAPL) BUY
Valuation Sensitivity Analysis
EBIT Margin vs. Discount Rate Valuation Sensitivity
EBIT Margin 28.00%
Discount Rate 8.00%
7.00% 8.00% 9.00% 10.00%
$451.08 $378.77 $327.19 $288.55
$468.87 $393.50 $339.73 $299.46
$486.66 $408.22 $352.27 $310.36
$504.45 $422.95 $364.81 $321.27
$522.24 $437.68 $377.35 $332.17
$540.04 $452.41 $389.89 $343.08
$557.83 $467.14 $402.44 $353.98
Select A Stock To Value
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Historical Prices For AAPL
Date Open High Low Close Volume
8-Apr-11 $339.92 $340.15 $333.95 $335.06 13,483,331
7-Apr-11 $338.10 $340.43 $336.03 $338.08 13,337,360
6-Apr-11 $341.22 $343.90 $337.14 $338.04 14,376,383 $365.00
5-Apr-11 $336.99 $343.90 $336.00 $338.89 17,248,687
4-Apr-11 $344.31 $344.60 $338.40 $341.19 16,431,506 $360.00
1-Apr-11 $351.11 $351.59 $343.30 $344.56 14,952,200
$355.00
31-Mar-11 $346.36 $349.80 $346.06 $348.51 9,798,858
30-Mar-11 $350.64 $350.88 $347.44 $348.63 11,764,467 $350.00
29-Mar-11 $347.66 $350.96 $346.06 $350.96 12,603,565
Stock Price
28-Mar-11 $353.15 $354.32 $350.44 $350.44 11,048,201 $345.00
25-Mar-11 $348.07 $352.06 $347.02 $351.54 16,041,828
24-Mar-11 $341.85 $346.00 $338.86 $344.97 14,453,960 $340.00
23-Mar-11 $339.28 $340.22 $335.95 $339.19 13,321,214
$335.00
22-Mar-11 $342.56 $342.62 $339.14 $341.20 11,651,166
21-Mar-11 $335.99 $339.74 $335.26 $339.30 14,621,080 $330.00
18-Mar-11 $337.13 $338.20 $330.00 $330.67 26,900,372
17-Mar-11 $336.83 $339.61 $330.66 $334.64 23,550,711 $325.00
16-Mar-11 $342.00 $343.00 $326.26 $330.01 41,312,518
15-Mar-11 $342.10 $347.84 $340.10 $345.43 25,735,619 $320.00
14-Mar-11 $353.18 $356.48 $351.31 $353.56 15,587,670
$315.00
11-Mar-11 $345.33 $352.32 $345.00 $351.99 16,824,288
10-Mar-11 $349.12 $349.77 $344.90 $346.67 18,138,865
9-Mar-11 $354.69 $354.76 $350.60 $352.47 16,192,719
8-Mar-11 $354.91 $357.40 $352.25 $355.76 12,725,565
7-Mar-11 $361.40 $361.67 $351.31 $355.36 19,504,307
4-Mar-11 $360.07 $360.29 $357.75 $360.00 16,188,069
3-Mar-11 $357.19 $359.79 $355.92 $359.56 17,885,252
2-Mar-11 $349.96 $354.35 $348.40 $352.12 21,521,027
1-Mar-11 $355.47 $355.72 $347.68 $349.31 16,290,309
28-Feb-11 $351.24 $355.05 $351.12 $353.21 14,395,497
00
00
00
00
00
00
00
00
00
00
00
28-Feb-11
2-Mar-11
4-Mar-11
6-Mar-11
8-Mar-11
10-Mar-11
12-Mar-11
14-Mar-11
16-Mar-11
18-Mar-11
Date
20-Mar-11
22-Mar-11
Historical Price Trend
24-Mar-11
26-Mar-11
28-Mar-11
30-Mar-11
1-Apr-11
3-Apr-11
5-Apr-11
7-Apr-11
Financial Ratio Analysis
2010-09-25 2009-09-26 2008-09-27
Profitability Ratios
Gross Margin 39.38% 35.20%
Operating Margin (EBIT Margin) 28.19% 27.36% 22.21%
Profit Margin 21.48% 19.19% 16.32%
Return on Assets 22.84% 19.68% 19.89%
Return on Equity 35.28% 30.54% 33.23%
Return on Capital Employed 29.32% 26.03% 27.44%
Leverage Ratios
Debt Ratio 0.00% 0.00% 0.00%
Debt/Equity Ratio 57.32% 50.13% 62.22%
Capitalization Ratio 0.00% 0.00% 0.00%
EBIT Interest Coverage #DIV/0! #DIV/0! #DIV/0!
EBITDA Interest Coverage #DIV/0! #DIV/0! #DIV/0!
Liquidity Ratios
Current Ratio 2.01 2.74 2.64
Quick Ratio 1.96 2.70 2.60
Cash Ratio 1.24 2.04 1.95
Growth Ratios
Revenue Growth 52.02% 14.44% 52.54%
Earnings Growth 70.16% 34.58% 75.08%
EPS Growth 66.85% 33.92% 72.52%
Dividend Ratios
Payout Ratio 0.00% 0.00% 0.00%
Other Ratios
(Depreciation + Amortization) Intensity 1.57% 1.71% 1.32%
CAPEX Intensity 3.25% 2.83% 3.20%
Change in Working Capital $1,212 -$586 $2,045
Effective Tax Rate 24.42% 31.75% 31.61%
ysis
2007-09-29 Average Trend
33.17% 36.97% Increasing
17.93% 23.92% Increasing
14.22% 17.80% Increasing
13.79% 19.05% Increasing
24.05% 30.77% Increasing
24.05% 26.71% Increasing
0.00% 0.00% Increasing
74.42% 61.02% Decreasing
0.00% 0.00% Increasing
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
2.37 2.44 Decreasing
2.33 2.40 Decreasing
1.66 1.72 Decreasing
39.67% Increasing
59.94% Increasing
57.76% Increasing
0.00% 0.00% Increasing
1.33% 1.48% Increasing
4.01% 3.32% Decreasing
$1,321 $998 Increasing
30.18% 29.49% Decreasing
Income Statement - A
In Millions of USD (except for per share items) 52 weeks ending 2010-09-25
Revenue $65,225
Other Revenue, Total $0
Total Revenue $65,225
Cost of Revenue, Total $39,541
Gross Profit $25,684
Selling/General/Admin. Expenses, Total $5,517
Research & Development $1,782
Depreciation/Amortization $0
Interest Expense(Income) - Net Operating $0
Unusual Expense (Income) $0
Other Operating Expenses, Total $0
Total Operating Expense $46,840
Operating Income $18,385
Interest Income(Expense), Net Non-Operating $0
Gain (Loss) on Sale of Assets $0
Other, Net -$156
Income Before Tax $18,540
Income After Tax $14,013
Minority Interest $0
Equity In Affiliates $0
Net Income Before Extra. Items $14,013
Accounting Change $0
Discontinued Operations $0
Extraordinary Item $0
Net Income $14,013
Preferred Dividends $0
Income Available to Common Excl. Extra Items $14,013
Income Available to Common Incl. Extra Items $14,013
Basic Weighted Average Shares $0
Basic EPS Excluding Extraordinary Items $0
Basic EPS Including Extraordinary Items $0
Dilution Adjustment $0
Diluted Weighted Average Shares $925
Diluted EPS Excluding Extraordinary Items $15
Diluted EPS Including Extraordinary Items $0
Dividends per Share - Common Stock Primary Issue $0
Gross Dividends - Common Stock $0
Net Income after Stock Based Comp. Expense $0
Basic EPS after Stock Based Comp. Expense $0
Diluted EPS after Stock Based Comp. Expense $0
Depreciation, Supplemental $0
Total Special Items $0
Normalized Income Before Taxes $0
Effect of Special Items on Income Taxes $0
Income Taxes Ex. Impact of Special Items $0
Normalized Income After Taxes $0
Normalized Income Avail to Common $0
Basic Normalized EPS $0
Diluted Normalized EPS $15
Diluted Normalized EPS $3
ome Statement - Annual
52 weeks ending 2009-09-26 52 weeks ending 2008-09-27
$42,905 $37,491
$0 $0
$42,905 $37,491
$42,905 $24,294
$17,222 $13,197
$4,149 $3,761
$1,333 $1,109
$0 $0
$0 $0
$0 $0
$0 $0
$31,165 $29,164
$11,740 $8,327
$0 $0
$0 $0
-$81 -$33
$12,066 $8,947
$8,235 $6,119
$0 $0
$0 $0
$8,235 $6,119
$0 $0
$0 $0
$0 $0
$8,235 $6,119
$0 $0
$8,235 $6,119
$8,235 $6,119
$0 $0
$0 $0
$0 $0
$0 $0
$907 $902
$9 $7
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$9 $7
$3 $2
52 weeks ending 2007-09-29
$24,578
$0
$24,578
$16,426
$8,152
$2,963
$782
$0
$0
$0
$0
$20,171
$4,407
$0
$0
-$48
$5,006
$3,495
$0
$0
$3,495
$0
$0
$0
$3,495
$0
$3,495
$3,495
$0
$0
$0
$0
$889
$4
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$4
$1
Income S
In Millions of USD (except for per share items) 13 weeks ending 2010-12-25
Revenue $26,741
Other Revenue, Total $0
Total Revenue $26,741
Cost of Revenue, Total $16,443
Gross Profit $10,298
Selling/General/Admin. Expenses, Total $1,896
Research & Development $575
Depreciation/Amortization $0
Interest Expense(Income) - Net Operating $0
Unusual Expense (Income) $0
Other Operating Expenses, Total $0
Total Operating Expense $18,914
Operating Income $7,827
Interest Income(Expense), Net Non-Operating $0
Gain (Loss) on Sale of Assets $0
Other, Net $136
Income Before Tax $7,963
Income After Tax $6,004
Minority Interest $0
Equity In Affiliates $0
Net Income Before Extra. Items $6,004
Accounting Change $0
Discontinued Operations $0
Extraordinary Item $0
Net Income $6,004
Preferred Dividends $0
Income Available to Common Excl. Extra Items $6,004
Income Available to Common Incl. Extra Items $6,004
Basic Weighted Average Shares $0
Basic EPS Excluding Extraordinary Items $0
Basic EPS Including Extraordinary Items $0
Dilution Adjustment $0
Diluted Weighted Average Shares $933
Diluted EPS Excluding Extraordinary Items $6
Diluted EPS Including Extraordinary Items $0
Dividends per Share - Common Stock Primary Issue $0
Gross Dividends - Common Stock $0
Net Income after Stock Based Comp. Expense $0
Basic EPS after Stock Based Comp. Expense $0
Diluted EPS after Stock Based Comp. Expense $0
Depreciation, Supplemental $0
Total Special Items $0
Normalized Income Before Taxes $0
Effect of Special Items on Income Taxes $0
Income Taxes Ex. Impact of Special Items $0
Normalized Income After Taxes $0
Normalized Income Avail to Common $0
Basic Normalized EPS $0
Diluted Normalized EPS $6
Diluted Normalized EPS $3
Income Statement - Quarter
13 weeks ending 2010-09-25 13 weeks ending 2010-06-26
$20,343 $15,700
$0 $0
$20,343 $15,700
$20,343 $9,564
$7,512 $6,136
$1,571 $1,438
$494 $464
$0 $0
$0 $0
$0 $0
$0 $0
$14,896 $11,466
$5,447 $4,234
$0 $0
$0 $0
$14 $58
$5,461 $4,292
$4,308 $3,253
$0 $0
$0 $0
$4,308 $3,253
$0 $0
$0 $0
$0 $0
$4,308 $3,253
$0 $0
$4,308 $3,253
$4,308 $3,253
$0 $0
$0 $0
$0 $0
$0 $0
$929 $927
$5 $4
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$5 $4
$3 $2
13 weeks ending 2010-03-27 13 weeks ending 2009-12-26
$13,499 $15,683
$0 $0
$13,499 $15,683
$7,874 $9,272
$5,625 $6,411
$1,220 $1,288
$426 $398
$0 $0
$0 $0
$0 $0
$0 $0
$9,520 $10,958
$3,979 $4,725
$0 $0
$0 $0
$50 $33
$4,029 $4,758
$3,074 $3,378
$0 $0
$0 $0
$3,074 $3,378
$0 $0
$0 $0
$0 $0
$3,074 $3,378
$0 $0
$3,074 $3,378
$3,074 $3,378
$0 $0
$0 $0
$0 $0
$0 $0
$923 $920
$3 $4
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$3 $4
$1
Balance Sheet - Annual
In Millions of USD (except for per share items) As of 2010-09-25 As of 2009-09-26
Cash & Equivalents $11,261 $5,263
Short Term Investments $14,359 $18,201
Cash and Short Term Investments $25,620 $23,464
Accounts Receivable - Trade, Net $5,510 $23,464
Receivables - Other $0 $0
Total Receivables, Net $9,924 $5,057
Total Inventory $1,051 $455
Prepaid Expenses $0 $309
Other Current Assets, Total $5,083 $2,270
Total Current Assets $41,678 $31,555
Property/Plant/Equipment, Total - Gross $7,234 $4,667
Accumulated Depreciation, Total -$2,466 -$1,713
Goodwill, Net $741 $206
Intangibles, Net $342 $353
Long Term Investments $25,391 $10,528
Other Long Term Assets, Total $2,263 $1,905
Total Assets $75,183 $47,501
Accounts Payable $12,015 $5,601
Accrued Expenses $1,593 $1,293
Notes Payable/Short Term Debt $0 $0
Current Port. of LT Debt/Capital Leases $0 $0
Other Current liabilities, Total $7,114 $4,612
Total Current Liabilities $20,722 $11,506
Long Term Debt $0 $0
Capital Lease Obligations $0 $0
Total Long Term Debt $0 $0
Total Debt $0 $0
Deferred Income Tax $4,300 $2,216
Minority Interest $0 $0
Other Liabilities, Total $2,370 $2,139
Total Liabilities $27,392 $15,861
Redeemable Preferred Stock, Total $0 $0
Preferred Stock - Non Redeemable, Net $0 $0
Common Stock, Total $10,668 $8,210
Additional Paid-In Capital $0 $0
Retained Earnings (Accumulated Deficit) $37,169 $23,353
Treasury Stock - Common $0 $0
Other Equity, Total -$46 $77
Total Equity $47,791 $31,640
Total Liabilities & Shareholders' Equity $75,183 $47,501
Shares Outs - Common Stock Primary Issue $0 $0
Total Common Shares Outstanding $916 $900
al
As of 2008-09-27 As of 2007-09-29
$11,875 $9,352
$10,236 $6,034
$22,111 $15,386
$2,422 $1,637
$0 $0
$4,704 $4,029
$509 $346
$475 $417
$2,207 $1,778
$30,006 $21,956
$3,747 $2,841
-$1,292 -$1,009
$207 $38
$352 $382
$2,379 $0
$772 $1,139
$36,171 $25,347
$5,520 $4,970
$1,320 $772
$0 $0
$0 $0
$4,521 $3,538
$11,361 $9,280
$0 $0
$0 $0
$0 $0
$0 $0
$999 $619
$0 $0
$1,514 $916
$13,874 $10,815
$0 $0
$0 $0
$7,177 $5,368
$0 $0
$15,129 $9,101
$0 $0
-$9 $63
$22,297 $14,532
$36,171 $25,347
$0 $0
$888 $872
Balance Sheet - Annual
In Millions of USD (except for per share items) As of 2010-12-25 As of 2010-09-25
Cash & Equivalents $10,734 $11,261
Short Term Investments $16,243 $14,359
Cash and Short Term Investments $26,977 $25,620
Accounts Receivable - Trade, Net $6,027 $25,620
Receivables - Other $0 $0
Total Receivables, Net $10,874 $9,924
Total Inventory $885 $1,051
Prepaid Expenses $0 $0
Other Current Assets, Total $5,191 $5,083
Total Current Assets $43,927 $41,678
Property/Plant/Equipment, Total - Gross $8,635 $7,234
Accumulated Depreciation, Total -$2,767 -$2,466
Goodwill, Net $741 $741
Intangibles, Net $522 $342
Long Term Investments $32,730 $25,391
Other Long Term Assets, Total $2,954 $2,263
Total Assets $86,742 $75,183
Accounts Payable $14,301 $12,015
Accrued Expenses $1,811 $1,593
Notes Payable/Short Term Debt $0 $0
Current Port. of LT Debt/Capital Leases $0 $0
Other Current liabilities, Total $7,683 $7,114
Total Current Liabilities $23,795 $20,722
Long Term Debt $0 $0
Capital Lease Obligations $0 $0
Total Long Term Debt $0 $0
Total Debt $0 $0
Deferred Income Tax $5,418 $4,300
Minority Interest $0 $0
Other Liabilities, Total $2,863 $2,370
Total Liabilities $32,076 $27,392
Redeemable Preferred Stock, Total $0 $0
Preferred Stock - Non Redeemable, Net $0 $0
Common Stock, Total $11,502 $10,668
Additional Paid-In Capital $0 $0
Retained Earnings (Accumulated Deficit) $43,050 $37,169
Treasury Stock - Common $0 $0
Other Equity, Total $114 -$46
Total Equity $54,666 $47,791
Total Liabilities & Shareholders' Equity $86,742 $75,183
Shares Outs - Common Stock Primary Issue $0 $0
Total Common Shares Outstanding $921 $916
Annual
As of 2010-06-26 As of 2010-03-27 As of 2009-12-26
$9,705 $10,018 $7,609
$14,583 $13,137 $17,187
$24,288 $23,155 $24,796
$3,447 $2,886 $3,090
$0 $0 $0
$6,399 $4,629 $4,881
$942 $638 $576
$161 $190 $232
$4,243 $3,724 $2,847
$36,033 $32,336 $33,332
$6,228 $5,555 $4,986
-$2,238 -$2,051 -$1,871
$714 $480 $253
$318 $343 $334
$21,551 $18,549 $15,024
$2,119 $1,845 $1,868
$64,725 $57,057 $53,926
$8,469 $5,666 $6,511
$1,360 $1,231 $1,212
$0 $0 $0
$0 $0 $0
$5,783 $5,332 $5,374
$15,612 $12,229 $13,097
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$3,828 $3,241 $2,769
$0 $0 $0
$2,174 $2,239 $2,292
$21,614 $17,709 $18,158
$0 $0 $0
$0 $0 $0
$10,133 $9,553 $8,962
$0 $0 $0
$32,870 $29,670 $26,695
$0 $0 $0
$108 $125 $111
$43,111 $39,348 $35,768
$64,725 $57,057 $53,926
$0 $0 $0
$913 $910 $906
Statement of Cashflow -
In Millions of USD (except for per share items) 52 weeks ending 2010-09-25
Net Income/Starting Line $14,013
Depreciation/Depletion $1,027
Amortization $0
Deferred Taxes $1,440
Non-Cash Items $903
Changes in Working Capital $1,212
Cash from Operating Activities $18,595
Capital Expenditures -$2,121
Other Investing Cash Flow Items, Total -$11,733
Cash from Investing Activities -$13,854
Financing Cash Flow Items $345
Total Cash Dividends Paid $0
Issuance (Retirement) of Stock, Net $912
Issuance (Retirement) of Debt, Net $0
Cash from Financing Activities $1,257
Foreign Exchange Effects $0
Net Change in Cash $5,998
Cash Interest Paid, Supplemental $0
Cash Taxes Paid, Supplemental $2,697
Cash Taxes Paid, Supplemental $129
ement of Cashflow - Annual
52 weeks ending 2009-09-26 52 weeks ending 2008-09-27
$8,235 $6,119
$734 $496
$0 $0
$0 $398
$736 $538
-$586 $2,045
$10,159 $9,596
-$1,213 -$1,199
-$16,221 -$6,990
-$17,434 -$8,189
$188 $633
$0 $0
$475 $483
$0 $0
$663 $1,116
$0 $0
-$6,612 $2,523
$0 $0
$2,997 $1,267
$168 $112
52 weeks ending 2007-09-29
$3,495
$327
$0
$73
$254
$1,321
$5,470
-$986
-$2,263
-$3,249
$374
$0
$365
$0
$739
$0
$2,960
$0
$863
$36
Statement of Cashflow -
In Millions of USD (except for per share items) 13 weeks ending 2010-12-25
Net Income/Starting Line $6,004
Depreciation/Depletion $356
Amortization $0
Deferred Taxes $823
Non-Cash Items $299
Changes in Working Capital $2,291
Cash from Operating Activities $9,773
Capital Expenditures -$1,263
Other Investing Cash Flow Items, Total -$9,466
Cash from Investing Activities -$10,729
Financing Cash Flow Items $221
Total Cash Dividends Paid $0
Issuance (Retirement) of Stock, Net $208
Issuance (Retirement) of Debt, Net $0
Cash from Financing Activities $429
Foreign Exchange Effects $0
Net Change in Cash -$527
Cash Interest Paid, Supplemental $0
Cash Taxes Paid, Supplemental $826
ement of Cashflow - Quarter
52 weeks ending 2010-09-25 39 weeks ending 2010-06-26
$14,013 $9,705
$1,027 $698
$0 $0
$0 $1,298
$903 $669
$1,212 $542
$18,595 $12,912
-$2,121 -$1,308
-$11,733 -$8,163
-$13,854 -$9,471
$345 $268
$0 $0
$912 $733
$0 $0
$1,257 $1,001
$0 $0
$5,998 $4,442
$0 $0
$2,697 $2,657
26 weeks ending 2010-03-27 13 weeks ending 2009-12-26
$6,452 3,378.00
$425 209
$0 -
$893 425
$445 211
-$104 1,558.00
$8,111 5,781.00
-$682 -381
-$3,359 -3,577.00
-$4,041 -3,958.00
$151 149
$0 -
$534 374
$0 -
$685 523
$0 -
$4,755 2,346.00
$0 -
$2,144 980