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Nuvo Research announces 2009 fourth quarter and year-end financial results
Date:2/19/2010

-------------------------------------------------- NUVO RESEARCH INC CONSOLIDATED STATEMENTS OF CASH FLOWS Year ended Year ended December 31, December 31, 2009 2008 ------------------------------------------------------------------------- (Canadian dollars in thousands) $ $ ------------------------------------------------------------------------- OPERATING ACTIVITIES Net income (loss) 15,018 (10,552) Items not involving current cash flows: Amortization 547 1,068 Deferred revenue recognized (2,241) (1,832) Stock-based compensation and payments 598 815 Deferred stock unit expense 225 - Accretion of interest on debentures 538 828 Loss on extinguishment of convertible debenture - 299 Change in estimate in contingency - (860) Unrealized foreign exchange loss (gain) 488 (214) Other (75) 49 Net change in non-cash working capital 1,161 270 Deferred proceeds from licensing arrangements - 1,014 ------------------------------------------------------------------------- CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 16,259 (9,115) ------------------------------------------------------------------------- INVESTING ACTIVITIES Acquisition of property, plant and equipment (391) (151) Proceeds from sale of assets
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