Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 12.68 12.78 8.07 11.85
Price to Sales 2.14 2.49 1.92 2.09
Book Value Per Common Share 54.96 40.97 39.22 34.87
Price to Book 1.80 2.83 3.01 2.07
Price to Operating Cash Flow 5.81 6.99 5.31 5.62
Price to Free Cash Flow 8.28 8.19
Enterprise Value to EBITDA 48605.35 55097.18 38897.77 44569.57
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-06-30 2023-03-31 2022-03-31
Price to Earnings 68.54 57.53 47.09 59.48 58.93 56.31 41.68 22.68
Price to Sales 7.84 8.06 8.10 9.38 10.83 10.13 8.17 7.33
Book Value Per Common Share 52.54 52.50 51.68 43.34 42.17 39.69 39.49 38.05
Price to Book 1.80 1.71 2.03 2.43 3.02 2.61 2.51 2.63
Price to Operating Cash Flow 20.04 32.38 21.87 21.22 30.08 22.41 25.69
Price to Free Cash Flow 39.11 567.26 42.95
Enterprise Value to EBITDA 190806.91 180602.48 178751.46 205720.23

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY -13.88 -37.89 140.07
Revenue YoY -2.49 -28.48 71.28
EBITDA YoY -5.07 -31.75 76.04
Net Profit YoY -15.62 -41.15 131.02
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-06-30 2023-03-31 2022-03-31
Earning YoY -11.54 -30.04 25.99 -18.06 17.39 -22.69 -46.03
Revenue YoY 7.33 -15.21 26.65 -5.83 12.12 -16.61 -16.61
EBITDA YoY -1.29 -16.33 25.93
Net Profit YoY -12.42 -31.06 38.84 -19.56 14.29 -23.56 -49.30

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 5.19 5.49 7.25 4.98
Quick Ratio 0.95 1.10 1.27 1.10
Current Ratio 1.29 1.43 1.46 1.34
Debt to Equity 0.89 0.95 0.95 1.00
Long-Term Debt to Equity 0.71 0.74 0.69 0.73
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-06-30 2023-03-31 2022-03-31
Cash Per Common Share 5.02 4.25 5.68 5.85 5.15 4.75 5.72 4.93
Quick Ratio 1.00 1.01 0.93 1.08 1.03 0.97 0.97 1.09
Current Ratio 1.32 1.27 1.27 1.30 1.35 1.41 1.40 1.51
Debt to Equity 0.89 0.87 0.90 0.94 0.93 0.89 0.91 0.90
Long-Term Debt to Equity 0.70 0.70 0.70 0.72 0.73 0.68 0.67 0.66

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 7.53 11.42 19.84 8.89
ROE 14.27 22.23 38.79 17.75
Gross Margin 63.45 60.86 38.24 32.22
Operating Margin 26.40 30.40 37.31 30.20
EBITDA Margin 43.94 45.13 47.30 46.02
Net Profit Margin 16.89 19.52 23.72 17.59
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-06-30 2023-03-31 2022-03-31
ROA 1.40 1.60 2.29 2.12 2.68 2.49 3.19 6.17
ROE 2.65 3.00 4.37 4.11 5.17 4.70 6.11 11.70
Gross Margin 24.12 25.06 62.54 27.94 61.48 62.63 58.56 61.99
Operating Margin 21.59 23.88 28.28 26.87
EBITDA Margin 40.76 44.32 44.91 45.17
Net Profit Margin 11.44 14.02 17.25 15.74 18.42 18.07 19.72 32.42

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield 0.00 0.00
Dividend Payout Ratio 30.75 29.27
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-06-30 2023-03-31 2022-03-31
Dividend Yield 0.00 0.00 0.00
Dividend Payout Ratio 56.69 50.10 44.35

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 122,780,000.00 95,924,000.00 93,829,000.00 90,661,000.00
   Current Assets 15,647,000.00 14,330,000.00 18,749,000.00 16,050,000.00
      Cash and Short-Term Investments 6,114,000.00 6,606,000.00 9,243,000.00 6,591,000.00
            Cash and Cash Equivalents 5,607,000.00 5,635,000.00 6,458,000.00 5,028,000.00
            Short-Term Investments 507,000.00 971,000.00 2,785,000.00 1,563,000.00
      Net Receivables 5,398,000.00 4,414,000.00 7,088,000.00 6,670,000.00
      Inventory 1,809,000.00 1,398,000.00 1,219,000.00 1,208,000.00
      Other Current Assets 2,326,000.00 1,912,000.00 1,199,000.00 1,581,000.00
   Non-Current Assets 107,133,000.00 81,594,000.00 75,080,000.00 74,611,000.00
      Property, Plant, Equipment Net 95,373,000.00 70,735,000.00 64,866,000.00 64,911,000.00
      Goodwill 0 0 0 0
      Intangible Assets 0 0 0 0
      Long-Term Investments 9,869,000.00 9,130,000.00 8,083,000.00 7,015,000.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 1,891,000.00 1,729,000.00 2,131,000.00 2,685,000.00
Liabilities 57,984,000.00 46,645,000.00 45,826,000.00 45,255,000.00
   Current Liabilities 12,124,000.00 10,005,000.00 12,847,000.00 12,021,000.00
      Payables and Expenses 7,074,000.00 5,857,000.00 11,702,000.00 10,066,000.00
            Account Payables 5,987,000.00 5,083,000.00 6,163,000.00 5,025,000.00
            Current Accrued Liabilities 1,087,000.00 774,000.00 2,346,000.00 2,179,000.00
      Short-Term Debt 1,035,000.00 1,074,000.00 417,000.00 1,200,000.00
      Other Current Liabilities 4,015,000.00 3,074,000.00 728,000.00 755,000.00
   Non-Current Liabilities 45,860,000.00 36,640,000.00 32,979,000.00 33,234,000.00
      Long-Term Debt 23,289,000.00 17,863,000.00 16,226,000.00 18,734,000.00
      Other Non-Current Liabilities 22,571,000.00 18,777,000.00 16,753,000.00 14,500,000.00
Equity 64,796,000.00 49,279,000.00 48,003,000.00 45,406,000.00
   Shareholders Equity 64,796,000.00 49,279,000.00 48,003,000.00 45,406,000.00
      Capital Stock 23,000.00 21,000.00 21,000.00 21,000.00
      Share Premium 77,529,000.00 61,303,000.00 61,142,000.00 60,581,000.00
      Retained Earnings 64,869,000.00 59,268,000.00 53,029,000.00 40,674,000.00
      Treasury Shares -71,152,000.00 -65,640,000.00 60,189,000.00 50,920,000.00
      Accumulated Other Comprehensive Income -6,473,000.00 -5,673,000.00 -6,000,000.00 -4,950,000.00
   Minority Interest 0 0 0 0
Investments 10,376,000.00 10,101,000.00 0 0
Debt 24,324,000.00 18,937,000.00 16,643,000.00 19,934,000.00
Net Debt 18,210,000.00 12,331,000.00 8,865,000.00 13,645,000.00
Common Shares Outstanding 0 0 1,223,856.07 1,302,242.87
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 54,745,000.00 56,141,000.00 78,494,000.00 45,828,000.00
Cost Of Revenue 20,012,000.00 21,975,000.00 48,481,000.00 31,060,000.00
Interest Income 381,000.00 1,192,000.00 195,000.00 33,000.00
Interest Expense 783,000.00 780,000.00 1,055,000.00 1,126,000.00
Net Interest -402,000.00 412,000.00 0 0
Non-Interest Expense 0 0 623,000.00 719,000.00
Gross Profit 34,733,000.00 34,166,000.00 30,013,000.00 14,768,000.00
Operating Expenses 0 0 4,551,000.00 2,697,000.00
   Selling, General and Administrative Expenses 3,245,000.00 2,779,000.00 623,000.00 719,000.00
   Research and Development Expenses 81,000.00 81,000.00 0 0
   Other Operating Expenses 0 0 564,000.00 344,000.00
Operating Income 0 0 25,462,000.00 12,071,000.00
Net Non-Operating Income 0 0 105,000.00 28,000.00
EBT 13,672,000.00 16,288,000.00 28,228,000.00 12,712,000.00
Income Tax 4,427,000.00 5,331,000.00 9,548,000.00 4,633,000.00
Equity Method Investments Income -1,705,000.00 1,720,000.00 0 0
Net Income Including Non-Controlling Interests 0 0 18,680,000.00 8,079,000.00
Net Income 9,245,000.00 10,957,000.00 18,620,000.00 8,060,000.00
EBIT 14,455,000.00 17,068,000.00 29,283,000.00 13,838,000.00
Deprecation and Amortization 9,599,000.00 8,270,000.00 7,844,000.00 7,252,000.00
EBITDA 24,054,000.00 25,338,000.00 37,127,000.00 21,090,000.00
EPS 0.01 0.01 0.01 0.01
Diluted EPS 0.01 0.01 0.01 0.01
Average Shares Outstanding Basic 1,178,920.00 1,202,757.00 1,274,028.00 1,324,194.00
Average Shares Outstanding Diluted 1,180,871.00 1,205,675.00 1,278,163.00 1,328,151.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 20,124,000.00 19,965,000.00 28,314,000.00 16,996,000.00
   Operating Net Income 9,245,000.00 10,957,000.00 18,680,000.00 8,079,000.00
   Deprecation and Amortization 9,599,000.00 8,270,000.00 7,844,000.00 7,252,000.00
   Deferred Income Tax 367,000.00 1,145,000.00 2,086,000.00 1,346,000.00
   Share Based Compensation 0 0 0 0
   Change in Working Capital -181,000.00 -1,382,000.00 -234,000.00 1,271,000.00
   Other Operating Activities 1,094,000.00 975,000.00 -62,000.00 -952,000.00
Investing Cash Flow -11,150,000.00 -12,000,000.00 -8,741,000.00 -8,544,000.00
   Capital Expenditure 0.00 0.00 -10,159,000.00 -5,324,000.00
   Net Purchase/Sale of PPE 261,000.00 632,000.00 0 0
   Net Purchase/Sale of Investments Net -401,000.00 -1,436,000.00 -2,629,000.00 3,091,000.00
   Net Purchase/Sale of Business -24,000.00 -2,724,000.00 -60,000.00 -8,290,000.00
   Other Investing Activities -10,986,000.00 -8,472,000.00 4,107,000.00 1,979,000.00
Financing Cash Flow -8,835,000.00 -8,661,000.00 -18,053,000.00 -6,335,000.00
   Net Issuance/Repayment of Debt 610,000.00 2,408,000.00 -3,370,000.00 -505,000.00
   Net Issuance/Repurchase of Equity 5,385,000.00 5,348,000.00 -8,908,000.00 -3,478,000.00
   Dividends Paid 3,646,000.00 5,583,000.00 -5,726,000.00 -2,359,000.00
   Other Financing Activities -18,476,000.00 -22,000,000.00 -49,000.00 7,000.00
Net Change in Cash 6,000.00 -795,000.00 1,520,000.00 2,117,000.00
   Cash at Beginning of Period 5,899,000.00 6,694,000.00 5,398,000.00 3,315,000.00
   Cash at End of Period 5,905,000.00 5,899,000.00 6,694,000.00 5,398,000.00
Free Cash Flow 0 0 18,155,000.00 11,672,000.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-06-30 2023-03-31 2022-03-31
Assets 122,472,000.00 122,599,000.00 124,254,000.00 122,780,000.00 96,699,000.00 95,348,000.00 95,924,000.00 89,605,000.00 91,441,000.00 93,308,000.00
   Current Assets 15,884,000.00 13,939,000.00 16,906,000.00 15,647,000.00 13,984,000.00 13,721,000.00 14,330,000.00 13,501,000.00 16,116,000.00 17,586,000.00
      Cash and Short-Term Investments 6,256,000.00 5,340,000.00 7,235,000.00 6,114,000.00 6,792,000.00 6,061,000.00 6,606,000.00 5,735,000.00 6,974,000.00 6,414,000.00
            Cash and Cash Equivalents 5,260,000.00 4,901,000.00 6,309,000.00 5,607,000.00 5,221,000.00 5,574,000.00 5,635,000.00 5,735,000.00 6,974,000.00 6,414,000.00
            Short-Term Investments 996,000.00 439,000.00 926,000.00 507,000.00 1,571,000.00 487,000.00 971,000.00 0 0 0
      Net Receivables 5,744,000.00 5,701,000.00 5,188,000.00 5,398,000.00 4,815,000.00 4,415,000.00 4,414,000.00 3,511,000.00 4,176,000.00 6,279,000.00
      Inventory 1,721,000.00 1,897,000.00 1,844,000.00 1,809,000.00 1,496,000.00 1,443,000.00 1,398,000.00 1,236,000.00 1,258,000.00 1,174,000.00
      Other Current Assets 2,163,000.00 1,001,000.00 2,639,000.00 2,326,000.00 881,000.00 1,802,000.00 1,912,000.00 3,019,000.00 3,708,000.00 3,719,000.00
   Non-Current Assets 106,588,000.00 108,660,000.00 107,348,000.00 107,133,000.00 82,715,000.00 81,627,000.00 81,594,000.00 76,104,000.00 75,325,000.00 75,722,000.00
      Property, Plant, Equipment Net 93,498,000.00 95,242,000.00 94,316,000.00 95,373,000.00 70,725,000.00 69,907,000.00 70,735,000.00 65,452,000.00 65,090,000.00 64,642,000.00
      Goodwill 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 0 0 0 0 0 0
      Long-Term Investments 10,074,000.00 10,361,000.00 10,008,000.00 9,869,000.00 9,192,000.00 9,132,000.00 9,130,000.00 8,618,000.00 8,197,000.00 8,309,000.00
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 3,016,000.00 3,057,000.00 3,024,000.00 1,891,000.00 2,798,000.00 2,588,000.00 1,729,000.00 2,034,000.00 2,038,000.00 2,771,000.00
Liabilities 57,549,000.00 57,027,000.00 59,016,000.00 57,984,000.00 46,818,000.00 46,023,000.00 46,645,000.00 42,074,000.00 43,658,000.00 44,090,000.00
   Current Liabilities 12,009,000.00 10,986,000.00 13,329,000.00 12,124,000.00 10,765,000.00 10,163,000.00 10,005,000.00 9,548,000.00 11,553,000.00 11,624,000.00
      Payables and Expenses 9,973,000.00 9,862,000.00 8,001,000.00 7,074,000.00 8,824,000.00 5,506,000.00 5,857,000.00 581,000.00 5,498,000.00 5,321,000.00
            Account Payables 6,245,000.00 6,517,000.00 7,349,000.00 5,987,000.00 5,190,000.00 5,101,000.00 5,083,000.00 29,000.00 5,078,000.00 4,875,000.00
            Current Accrued Liabilities 1,789,000.00 1,603,000.00 652,000.00 1,087,000.00 1,161,000.00 405,000.00 774,000.00 552,000.00 420,000.00 446,000.00
      Short-Term Debt 1,016,000.00 414,000.00 608,000.00 1,035,000.00 1,314,000.00 1,113,000.00 1,074,000.00 879,000.00 1,317,000.00 1,160,000.00
      Other Current Liabilities 1,020,000.00 710,000.00 4,720,000.00 4,015,000.00 627,000.00 3,544,000.00 3,074,000.00 8,088,000.00 4,738,000.00 5,143,000.00
   Non-Current Liabilities 45,540,000.00 46,041,000.00 45,687,000.00 45,860,000.00 36,053,000.00 35,860,000.00 36,640,000.00 32,526,000.00 32,105,000.00 32,466,000.00
      Long-Term Debt 22,466,000.00 23,115,000.00 23,176,000.00 23,289,000.00 16,990,000.00 17,304,000.00 17,863,000.00 15,565,000.00 15,266,000.00 17,586,000.00
      Other Non-Current Liabilities 23,074,000.00 22,926,000.00 22,511,000.00 22,571,000.00 19,063,000.00 18,556,000.00 18,777,000.00 16,961,000.00 16,839,000.00 14,880,000.00
Equity 64,923,000.00 65,572,000.00 65,238,000.00 64,796,000.00 49,881,000.00 49,325,000.00 49,279,000.00 47,531,000.00 47,783,000.00 49,218,000.00
   Shareholders Equity 64,923,000.00 65,572,000.00 65,238,000.00 64,796,000.00 49,881,000.00 49,325,000.00 49,279,000.00 47,531,000.00 47,783,000.00 49,218,000.00
      Capital Stock 23,000.00 23,000.00 23,000.00 23,000.00 21,000.00 21,000.00 21,000.00 21,000.00 21,000.00 21,000.00
      Share Premium 77,701,000.00 77,643,000.00 77,554,000.00 77,529,000.00 61,430,000.00 61,300,000.00 61,303,000.00 61,169,000.00 61,100,000.00 60,907,000.00
      Retained Earnings 68,459,000.00 67,707,000.00 66,721,000.00 64,869,000.00 63,459,000.00 60,895,000.00 59,268,000.00 55,483,000.00 54,593,000.00 45,442,000.00
      Treasury Shares 75,186,000.00 73,899,000.00 -72,666,000.00 -71,152,000.00 69,184,000.00 -66,974,000.00 -65,640,000.00 -63,217,000.00 -61,904,000.00 -52,344,000.00
      Accumulated Other Comprehensive Income -6,074,000.00 -5,902,000.00 -6,394,000.00 -6,473,000.00 -5,845,000.00 -5,917,000.00 -5,673,000.00 -5,925,000.00 -6,027,000.00 -4,808,000.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0
Investments 0 0 10,934,000.00 10,376,000.00 0 9,619,000.00 10,101,000.00 8,618,000.00 8,197,000.00 8,309,000.00
Debt 23,482,000.00 23,529,000.00 23,784,000.00 24,324,000.00 18,304,000.00 18,417,000.00 18,937,000.00 16,444,000.00 16,583,000.00 18,746,000.00
Net Debt 18,222,000.00 18,628,000.00 16,549,000.00 18,210,000.00 13,083,000.00 12,356,000.00 12,331,000.00 10,709,000.00 9,609,000.00 12,332,000.00
Common Shares Outstanding 1,235,718.25 1,248,942.31 1,262,410.03 0 1,150,912.48 1,169,533.98 0 1,197,490.67 1,210,058.69 1,293,449.55
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-06-30 2023-03-31 2022-03-31
Revenues 15,031,000.00 14,004,000.00 16,517,000.00 13,041,000.00 13,848,000.00 12,351,000.00 14,811,000.00 17,762,000.00
Cost Of Revenue 11,406,000.00 10,495,000.00 6,188,000.00 9,398,000.00 5,334,000.00 4,616,000.00 6,138,000.00 6,751,000.00
Interest Income 0 0 129,000.00 0 0 0 0 0
Interest Expense 317,000.00 327,000.00 205,000.00 269,000.00 205,000.00 179,000.00 188,000.00 217,000.00
Net Interest 0 0 -76,000.00 0 0 0 0 0
Non-Interest Expense 271,000.00 250,000.00 0 186,000.00 0 0 0 0
Gross Profit 3,625,000.00 3,509,000.00 10,329,000.00 3,643,000.00 8,514,000.00 7,735,000.00 8,673,000.00 11,011,000.00
Operating Expenses 867,000.00 903,000.00 0 732,000.00 0 0 0 0
   Selling, General and Administrative Expenses 271,000.00 250,000.00 742,000.00 186,000.00 733,000.00 717,000.00 735,000.00 1,001,000.00
   Other Operating Expenses 71,000.00 81,000.00 0 70,000.00 0 0 0 0
Operating Income 2,758,000.00 2,606,000.00 0 2,911,000.00 0 0 0 0
Net Non-Operating Income 143,000.00 104,000.00 0 126,000.00 0 0 0 0
EBT 2,928,000.00 3,017,000.00 4,466,000.00 3,235,000.00 0 0 0 0
Income Tax 1,202,000.00 1,046,000.00 1,617,000.00 1,176,000.00 1,257,000.00 1,130,000.00 1,642,000.00 2,139,000.00
Equity Method Investments Income 0 0 -392,000.00 0 421,000.00 412,000.00 499,000.00 426,000.00
Net Income Including Non-Controlling Interests 1,726,000.00 1,971,000.00 0 2,059,000.00 0 0 0 0
Net Income 1,720,000.00 1,964,000.00 2,849,000.00 2,052,000.00 2,551,000.00 2,232,000.00 2,920,000.00 5,759,000.00
EBIT 3,245,000.00 3,344,000.00 4,671,000.00 3,504,000.00 0 0 0 0
Deprecation and Amortization 2,881,000.00 2,862,000.00 2,746,000.00 2,386,000.00 2,211,000.00 68,000.00 1,942,000.00 1,823,000.00
EBITDA 6,126,000.00 6,206,000.00 7,417,000.00 5,890,000.00 0 0 0 0
EPS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 1,245,253.00 1,257,512.00 1,273,350.00 1,161,318.00 1,177,921.00 1,207,443.00 1,220,228.00 1,301,930.00
Average Shares Outstanding Diluted 1,246,854.00 1,258,998.00 1,274,879.00 1,163,227.00 1,180,320.00 1,210,342.00 1,223,355.00 1,307,404.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-06-30 2023-03-31 2022-03-31
Operating Cash Flow 5,878,000.00 3,485,000.00 6,115,000.00 5,763,000.00 4,985,000.00 0.00 5,403,000.00 5,068,000.00
   Operating Net Income 1,726,000.00 1,971,000.00 2,849,000.00 2,059,000.00 2,551,000.00 0.00 2,920,000.00 5,759,000.00
   Deprecation and Amortization 2,881,000.00 2,862,000.00 2,746,000.00 2,386,000.00 2,211,000.00 68,000.00 1,942,000.00 1,823,000.00
   Deferred Income Tax 354,000.00 149,000.00 -71,000.00 38,000.00 87,000.00 0.00 324,000.00 373,000.00
   Share Based Compensation 0 0 0 0 0 0.00 0 0
   Change in Working Capital 512,000.00 -1,236,000.00 648,000.00 1,041,000.00 -112,000.00 0.00 -283,000.00 -1,957,000.00
   Other Operating Activities 405,000.00 -261,000.00 -57,000.00 239,000.00 248,000.00 0.00 500,000.00 -930,000.00
Investing Cash Flow -3,179,000.00 -2,461,000.00 -2,346,000.00 -2,658,000.00 -2,141,000.00 0.00 -1,448,000.00 -611,000.00
   Capital Expenditure -2,866,000.00 -3,286,000.00 0.00 -2,916,000.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 0 0 635,000.00 0 173,000.00 0.00 188,000.00 2,332,000.00
   Net Purchase/Sale of Investments Net -548,000.00 392,000.00 370,000.00 195,000.00 -426,000.00 1,328,000.00 -1,077,000.00 289,000.00
   Net Purchase/Sale of Business 0 0 0 0 49,000.00 0.00 0 37,000.00
   Net Loan & Lease Activity 0 0 0 0
   Other Investing Activities 235,000.00 433,000.00 -3,351,000.00 63,000.00 -1,937,000.00 0.00 -559,000.00 -3,269,000.00
Financing Cash Flow -2,324,000.00 -2,483,000.00 -3,137,000.00 -2,198,000.00 -2,825,000.00 0.00 -3,326,000.00 -3,137,000.00
   Net Issuance/Repayment of Debt -45,000.00 -259,000.00 -547,000.00 -44,000.00 -505,000.00 0.00 -43,000.00 -1,067,000.00
   Net Issuance/Repurchase of Equity -1,284,000.00 -1,225,000.00 1,448,000.00 -1,176,000.00 1,264,000.00 0.00 1,603,000.00 1,696,000.00
   Dividends Paid -975,000.00 -984,000.00 998,000.00 -910,000.00 924,000.00 0.00 1,488,000.00 864,000.00
   Other Financing Activities -20,000.00 -15,000.00 -5,036,000.00 -68,000.00 -4,508,000.00 0.00 -6,374,000.00 -4,630,000.00
Net Change in Cash 375,000.00 -1,459,000.00 715,000.00 907,000.00 -54,000.00 0.00 525,000.00 1,341,000.00
   Cash at Beginning of Period 5,226,000.00 6,620,000.00 5,905,000.00 4,574,000.00 5,899,000.00 0 6,694,000.00 5,398,000.00
   Cash at End of Period 5,599,000.00 5,226,000.00 6,620,000.00 5,522,000.00 5,845,000.00 5,974,000.00 7,219,000.00 6,739,000.00
Free Cash Flow 3,012,000.00 199,000.00 0 2,847,000.00 0 0.00 0 0