| |
Years
ended September 30,
|
|
|
1999
|
1998
|
1997
|
|
|
(Notes
2-a and 2-b)
|
|
|
|
|
|
|
CASH
FLOWS FROM OPERATING ACTIVITIES
|
|
|
|
|
Net
(loss) income
|
(14.893)
|
14.340
|
19.570
|
|
Adjustments
to reconcile net income to net cash provided by
operating activities -
|
|
|
|
Minority
interest
|
(167)
|
726
|
5.573
|
Equity
in losses of affiliates
|
6.721
|
307
|
-
|
Depreciation
|
9.600
|
9.638
|
13.655
|
Foreign
exchange (gain) loss
|
(233)
|
618
|
2.223
|
Accrued
interest income
|
(7.159)
|
(8.201)
|
-
|
Intangible
costs expensed during the period
|
-
|
-
|
2.354
|
Provision
for doubtful accounts receivable and inventories
|
1.019
|
-
|
1.351
|
Deferred
income tax
|
-
|
-
|
(4.818)
|
|
Employee
termination benefits
|
|
|
|
Accrual
|
404
|
1.422
|
979
|
Payments
made
|
(23)
|
(1.741)
|
(3.165)
|
|
Net
changes in operating accounts -
|
|
|
|
Accounts
receivable
|
(7.161)
|
(1.701)
|
(1.381)
|
Related
companies, net
|
3.814
|
7.268
|
2.032
|
Inventories
|
3.309
|
(5.847)
|
(2.469)
|
Prepaid
expenses and other assets
|
919
|
2.200
|
411
|
Accounts
payable
|
6.122
|
3.249
|
495
|
Accrued
liabilities ,
other liabilities and employee benefits and
other liabilities
|
(788)
|
2.604
|
2.131
|
|
Net
cash provided by operating activities
|
1.484
|
25.242
|
38.941
|
| |
|
|
|
|
CASH
FLOWS FROM INVESTING ACTIVITIES
|
|
|
|
|
Additions
to property, plant and equipment
|
(6.849)
|
(5.763)
|
(30.139)
|
|
Additions
to investments
|
(11.650)
|
(4.705)
|
-
|
|
Payment
made to Fior
|
-
|
(20.000)
|
-
|
|
Payment
received from the Joint Venture companies
|
36.000
|
58.207
|
-
|
|
Payment
received from
BHP
|
10.000
|
20.000
|
-
|
|
Long-term
loans participations acquired
|
(40.000)
|
(100.457)
|
-
|
| Net
cash used in investing activities |
(12.499)
|
(52.718)
|
(30.139)
|
| |
|
|
|
| CASH
FLOWS FINANCING ACTIVITIES |
|
|
|
| Cash
dividends paid to shareholders |
(3.979)
|
-
|
(13.088)
|
| Dividends
paid to minority interest |
(84)
|
-
|
(5.117)
|
| Net
cash used in financing activities |
(4.063)
|
-
|
(18.205)
|
| |
|
|
|
| EFFECT
OF EXCHANGE RATE CHANGES ON CASH AND EQUIVALENTS
|
(20)
|
(762)
|
(1.931)
|
| CASH
AND CASH EQUIVALENTS |
|
|
|
| Net
change for the year |
(15.098)
|
(28.238)
|
(11.334)
|
| Balance
at beginning of the year |
15.215
|
43.453
|
54.787
|
| Balance
at end of the year |
117
|
15.215
|
43.453
|
| |
|
|
|
| SUPLEMENTAL
CASH FLOW INFORMATION |
|
|
|
| Cash
paid during the year for taxes |
514
|
1.566
|
2.684
|
| Net
assets contributed to the Joint Venture with BHP |
-
|
-
|
46.293
|
| Accounts
payable to related company for intangible costs
transferred |
-
|
-
|
10.167
|
| Net
capital contribution from the exchange offer |
-
|
67.161
|
-
|
