Question-and-Answer Session
Operator
Absolutely, sir. Ladies and gentlemen, we’ll now proceed to the question-and-question session. (Operator Instructions). And our first question comes from the line of John Ransom from Raymond James and Associates. Please proceed with your question.
John Ransom - Raymond James & Associates, Inc.
Hi, good morning.
William R. Shane
Good morning.
John Ransom - Raymond James & Associates, Inc.
The – kind of looking forward to 2010, what kind of working capital reversals should we expect from the service [ph] corp build-up, and when do you think that might happen?
William R. Shane
Yes, the reversals are not going to happen till, I think, sometime late in 2010, beginning of 2011.
John Ransom - Raymond James & Associates, Inc.
And what’s the ?..
William R. Shane
We still have some projected borrowings and we will have some projected borrowings.
John Ransom - Raymond James & Associates, Inc.
And so you built up what, close to 20 million I guess, 20 million of receivables and will that all come back out or just a portion of it?
William R. Shane
Just a portion of it. And I don’t have the exact number off the top of my head what was built up in receivables from those acquisitions. I think it was probably significantly more than that. That?
John Ransom - Raymond James & Associates, Inc.
Okay.
William R. Shane
[ph] ?receivables but I don’t have that number at my fingertips.
John Ransom - Raymond James & Associates, Inc.
And [ph] Shane, how should we think about that? Is that not going to reverse? Is it sort of a [indiscernible] investment??
William R. Shane
It’s going to reverse itself so that we will not have to borrow and it will generate cash flow. And that will start probably, yeah, the end of 2010 into 2011, but what we hope to have is we hope to have continued acquisition and continue other acquisitions will run the same track. So I think if you talk about two and a half to three years?
John Ransom - Raymond James & Associates, Inc.
Okay.
William R. Shane
?to start to reverse in the past; and we bought that in ’07. So we are looking at the end of ‘010. Well, we bought it in December ’07, yeah, really, it’s – we only had it two years.
John Ransom - Raymond James & Associates, Inc.
Right, right.
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