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Just as your pulse is checked during a routine physical, free cash flow is used as an indicator of a company's health. It equals the cash brought in from operations minus the money needed to pay the bills. Think about leftover money in your checking account after you pay this month's bills.
Investors and analysts see this leftover money as a gauge of a company's ability to perform. It is available for transactions such as handing out dividends and working on new products.
Some argue free cash flow is wrongly overshadowed by the emphasis often placed on earnings. Earnings numbers can be manipulated and don't always tell the whole story -- and earnings don't mean much if there's nothing left over after a company pays its expenses. Even if you bring in a six-figure salary, but no money left after paying the bills, are you in great financial shape?
You don't have to be Einstein to figure out free cash flow. To calculate the number, subtract the company's expenditures and dividends from its operating cash flow.
If the free cash flow is written in red ink, it doesn't necessarily signal curtains. This is common for young companies looking to grow. It also could be a result of heavy investments, which in the long run could be worth a standing ovation.
Home / Markets / Industries / Energy
Wednesday, May 28, 2008
Sterling provides results of annual meeting and grants stock options
Comtex
CALGARY, May 28, 2008 (Canada NewsWire via COMTEX) ----(TSX-V: SLG)
Sterling Resources Ltd. announces that the following matters were approved by the shareholders at the annual and special meeting held today.
Shareholders elected Messrs. Raj Agrawal, Robert Carter, Walter DeBoni, Stewart Gibson, Teck Soon Kong and Graeme Phipps as directors of the Corporation. Sterling is pleased to welcome Graeme Phipps to the Board of Directors. Mr. Phipps has more than 30 years' experience in the oil industry and has held numerous executive positions with both domestic and international corporations. He holds a Bachelor of Science (Honors) with distinction in both Geology and Geophysics and is a Professional Geophysicist with the Association of Professional Engineers, Geologists and Geophysicists of Alberta.
Shareholders approved an amendment of the Corporation's Stock Option Plan to increase by 3,000,000 the maximum number of common shares issuable under the plan such that the aggregate number of common shares reserved for issuance would then equal 10,000,000 common shares.
Subsequent to the shareholders' approval of the Stock Option Plan amendment, the Board of Directors made its annual stock option grants to officers, directors, employees and consultants of the Corporation and its subsidiary. Options were granted to acquire 2,260,000 common shares at an exercise price of $2.56 per share. The options are exercisable for a five-year term and vest over three years from the date of grant.
Sterling Resources Ltd. is an international oil and gas company headquartered in Calgary, Alberta.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
%SEDAR: 00002072E
SOURCE: Sterling Resources Ltd.
visit www.sterling-resources.com or contact: Stewart G. Gibson, Chief Executive Officer, Phone: 44-133082-6717, Mobile: 44-7768-042219, stewart@sterling-resources.co.uk, or Ian Hornby-Smith, Chief Financial Officer, Phone: (403) 215-9264, Fax: (403) 215-9279, ian@sterling-resources.com
Copyright (C) 2008 CNW Group. All rights reserved.
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