|
1998
|
1997
|
1996
|
| Cash flows from operating activities |
|
|
|
| ....Net income |
$4,665,120 |
$4,057,805 |
$4,301,260 |
| ....Adjustments to reconcile net income to net cash |
|
|
|
| .....provided by operating activities |
|
|
|
| ......Depreciation |
2,539,868 |
2,322,932 |
2,414,879 |
| ......Amortization |
879,692 |
552,121 |
370,320 |
| ......(Gain)/loss on sale of landand equipment |
24,115 |
(80,582) |
(391,693) |
| ......Deferred income taxes |
(14,000) |
46,000 |
(234,000) |
| ......Increase (decrease) in cash and cash |
|
|
|
| ........equivalents due to changes in |
|
|
|
| ..........Accounts receivable |
(743,539) |
(1,444,408) |
(643,231) |
| ..........Supplies |
(136,006) |
373,677 |
(331,777) |
| ..........Prepaid expenses / other current assets |
2,412 |
65,139 |
(23,925) |
| ..........Other assets |
(1,362,437) |
(47,820) |
137,551 |
| ..........Accounts payable / accrued expenses |
(32,084) |
667,169 |
(79,417) |
| ..........Income taxes |
(73,662) |
221,995 |
(1,321,751) |
| ..........Other liabilities |
36,300
|
-
|
72,300
|
| ............Net cash provided by operating activities |
5,785,779 |
6,734,028 |
4,270,516 |
| Cash flows from investing activities |
|
|
|
| ....Proceeds from sale of land and equipment |
12,964 |
256,961 |
676,291 |
| ....Purchase of property and equipment |
(7,954,156) |
(1,448,827) |
(1,711,084) |
| ....Increase in construction-in-progress |
- |
(6,253,959) |
(695,203) |
| ....Expenditures for land under development |
|
|
|
| ......held for resale |
(8,976) |
(98,941) |
(173,920) |
| ....Purchase of software |
(962,086)
|
(891,009)
|
(620,153)
|
| ......Net cash used in investing activities |
(8,912,254) |
(8,435,775) |
(2,524,069) |
| Cash flows from financing activities |
|
|
|
| ....Proceeds from borrowings on long-term debt |
1,800,000 |
- |
- |
| ....Payments of dividends |
(1,126,287) |
(969,675) |
(807,760) |
| ....Purchase of common stock |
(2,157,204) |
(3,900) |
(60,206) |
| ....Proceeds from the exercise of stock options |
157,180
|
40,550
|
252,406
|
| ......Net cash used in financing activities |
(1,326,311)
|
(933,025)
|
(615,560)
|
| Net change in cash and cash equivalents |
(4,452,786) |
(2,634,772) |
1,130,887 |
| Cash and cash equivalents, beginning of year |
5,727,462
|
8,362,234
|
7,231,347
|
| Cash and cash equivalents, end of year |
$1,274,676
|
$5,727,462
|
$8,362,234
|
| Supplemental disclosure of cash paid for |
|
|
|
| ....Income taxes |
$3,070,565 |
$2,481,140 |
$4,293,751 |
| ....Interest |
$34,786 |
$- |
$- |
