
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED AUGUST 31, 2006 AND 2005
NOTE 5: JOINT VENTURES
The following is a summary of the Company's proportionate share of the financial position, results of operations and cash flows from continuing operating, investing and financing activities of the joint ventures included in the consolidated financial statements:
(in thousands of $)
|
2006 |
2005 |
| Current assets |
42,408 |
39,946 |
| Non-current assets |
23,226 |
18,530 |
| Current liabilities |
(23,650) |
(23,166) |
| Non-current liabilities |
(4,841) |
(9,396) |
 |
 |
 |
| Net assets |
37,143 |
25,914 |
 |
 |
 |
(in thousands of $)
|
2006 |
2005 |
| Revenues |
71,193 |
66,036 |
| Operating expenses |
41,097 |
39,283 |
| Depreciation and amortization |
1,212 |
1,759 |
| Interest income, net |
(374) |
(197) |
| Income tax provision |
7,781 |
6,958 |
 |
 |
 |
| Net earnings from continuing operations |
21,477 |
18,233 |
 |
 |
 |
| Cash provided by operating activities |
14,451 |
17,792 |
| Cash used for investing activities |
(1,194) |
(920) |
| Cash used for financing activities |
— |
— |
 |
 |
 |

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 |
 |