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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.
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Friday, May 09, 2008
Littlefield Corporation Announces Successful Opening of New Corpus Christi Bingo Hall
Comtex
AUSTIN, Texas, May 09, 2008 (BUSINESS WIRE) ----Littlefield Corporation (OTCBB: LTFD) announced today that its Crosstown Bingo hall in Corpus Christi, Texas successfully opened for business on May 8, 2008. This brings the total number of operating bingo halls in the Company's portfolio to thirty-two (32). A significant crowd of bingo players lined up outside the hall in anticipation of its grand opening.
Negotiations are underway to add additional charities in the immediate future. Sessions will be added until the hall is operating two (2) sessions per day, seven (7) days per week. Sessions currently being played are complimentary to other bingo halls in the Corpus Christi market.
Jeffrey L. Minch, President and CEO of Littlefield Corporation, made the following comment:
"We selected Corpus Christi for its strong demographics and are encouraged by the initial acceptance. We dramatically improved the location with new audio-visual equipment, tables, chairs, among other customer-centric changes. This is a welcome addition to our portfolio of Texas bingo halls and we look forward to good results. We expect to build on this initial success by adding more charities and sessions at complementary playing times.
I am confident that Crosstown Bingo will contribute to the Company's revenue and profits after the usual initial ramp-up period.
The successful opening of Crosstown Bingo is the product of a lot of hard work by our associates in Texas."
Investors are always cautioned to be careful in drawing conclusions from a single press release, the Company's performance in a single quarter or the individual opinions of any member of the Company's management in making their individual investment decisions.
Littlefield Corporation is a Delaware Corporation headquartered in Austin, Texas whose corporate subsidiaries are involved as licensed commercial lessor and promoter (in South Carolina only) with thirty-two (32) charitable bingo halls in Texas, South Carolina, Alabama and Florida. The Company has also announced plans to open two halls in El Paso and McAllen, Texas later in the year. Over 100 charities conduct bingo in these charitable bingo halls and in 2007 earned $3,700,000 to fund their noble causes. In addition, the Company owns Premiere Tents & Events (party rental company).
In accordance with the safe harbor provisions of the Private Securities Reform Act of 1995: except for historical information contained herein, certain matters set forth in this press release are forward-looking statements that are subject to substantial risks and uncertainties, including government regulation, taxation, competition, market risks, customer attendance, spending, general economic conditions and other risks detailed in the Company's Securities and Exchange Commission filings and reports.
SOURCE: Littlefield Corporation
Littlefield Corporation Cecil Whitmore, 512-476-5141 Financial Analyst, Investor Relations FX: 512-476-5680 cwhitmore@littlefield.com
Copyright Business Wire 2008
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