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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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Tuesday, June 03, 2008
Publicis Groupe Annual General Meeting of Shareholders
Comtex
PARIS, June 3, 2008 /PRNewswire-FirstCall via COMTEX/ ----Publicis Groupe shareholders today held a Combined Ordinary and Extraordinary Meeting presided by Elisabeth Badinter, Chair of the Supervisory Board, and Maurice Levy, Chairman & CEO.
Maurice Levy summarized highlights and results for the 2007 financial year. He then commented on Publicis Groupe's development as a pioneer in communications of the future and leader in digital communication, as it faces new challenges in the advertising industry.
He noted, "What stands out from 2007 is that we were able to meet and even exceed - one year ahead of schedule - targets that we had set in 2004 for 2008. This performance is exceptional for a year in which economies were strongly shaken by a serious financial crisis, combined with the first signs of recession in the United States.
"In particular, 2007 was the year we integrated the Digitas acquisition and rolled out the network on a global basis, a decisive step in the development of the digital offer of the entire Groupe. The success of this operation once again underscores our ability to effectively integrate our acquisitions and above all marks a decisive turning point in our becoming a global leader in digital communications. This past year was also marked by the Groupe's new momentum in emerging markets with acquisitions carried out in China and in India, further strengthening the Publicis Groupe presence throughout high-growth economies.
"The first three months registered good growth while the beginning of the second quarter is encouraging for 2008 as a whole."
All of the resolutions submitted for the approval of the Ordinary and Extraordinary Meeting were adopted. Shareholders approved a net dividend of 0.60 euro per share, representing a 20% increase over 2006. Dividend payments to shareholders will commence on July 25, 2008. The Assembly also noted the expiration of the terms of office of Messrs Michel David-Weill and Yukata Narita, and ratified the cooption of Madame Claudine Bienaime and Mr. Tatsuyoshi Takashima as new members of the Supervisory Board. Mr. Michel Halperin's mandate was renewed.
Publicis Groupe is the world's fourth largest communications group. In addition, it is ranked as the world's second largest media counsel and buying group, and is a global leader in digital and healthcare communications. With activities spanning 104 countries on five continents, the Groupe employs approximately 44,000 professionals.
The Groupe offers local and international clients a complete range of communication services, through three autonomous global advertising networks, Leo Burnett, Publicis, Saatchi & Saatchi and two multi-hub networks, Fallon and 49%-owned Bartle Bogle Hegarty; to media consultancy and buying, through two worldwide networks, Starcom MediaVest Group and ZenithOptimedia; interactive and digital marketing led by Digitas; Specialized Agencies and Marketing Services offering healthcare communications, corporate and financial communications, sustainability communications, shopper marketing, public relations, CRM and direct marketing, event and sports marketing, and multicultural communications.
Web Site: http://www.publicisgroupe.com
SOURCE Publicis Groupe
Copyright (C) 2008 PR Newswire. All rights reserved
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