Cash FlowDavid Drillock, Vice President and Chief Financial Officer commented, “Operating cash flows from continuing operations were $21.5 million for the first quarter 2011. During the quarter our average net working capital days decreased compared to the fourth quarter of 2010 due to our continued focus on our working capital. While trade accounts receivable increased $59.6 million due to higher revenues, the average days sales outstanding for the first quarter of approximately 49 days was flat with the fourth quarter 2010 average. Inventory increased by $49.4 million in the first quarter of 2011 due to higher demand and production, while average days on hand of approximately 69 days was slightly up from the average for the fourth quarter of 2010 of 67 days. Accounts payable increased by $114.6 million in the quarter due to the higher demand levels and an increase of 7 days to 58 days versus the average fourth quarter of 2010 level of 51 days. The decrease in accrued expenses reflects payments against our prior year incentive compensation accruals.
Cytec Announces First Quarter 2011 Results
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.