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Galaxy Nutritional Foods Reports FY2008 Results

9 1,545,932

Inventories 221,997 (103,904)

Prepaid expenses and other 165,787 (190,976)

Increase (decrease) in:

Accounts payable (324,278) (937,427)

Accrued and other liabilities (73,406) (347,848)



Purchase of property and equipment (20,534) (27,868)

Proceeds from sale of equipment -- 45,455

Increase in other assets -- 69,844


ACTIVITIES (20,534) 87,431


Net payments on secured borrowings (556,886) (1,362,116)

Borrowings on notes payable -- 1,200,000

Repayments on notes payable -- (1,200,000)

Financing costs for long term debt -- (144,011)

Principal payments on capital lease

obligations -- (62,826)


NET INCREASE IN CASH 1,013,938 443,607

CASH, BEGINNING OF YEAR 879,487 435,880

CASH, END OF YEAR $1,893,425 $ 879,487


EBITDA, as adjusted, (a non-GAAP measure) Reconciliation





SOURCE Galaxy Nutritional Foods, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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