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AUSTRALIA'S CLARITY RECORDS US$3.88 MLN IN CASH RESERVES FOR FY.

AsiaPulse News

| August 01, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, Aug 1 Asia Pulse - Listed telco Clarity International Ltd today said the company closed the financial year with more than $A7.7 million ($US3.88 million) in cash reservces.

Chief executive Tony Kalcina said in a statement cash on hand at June 30, 2001 was more than $A7.7 million ($US3.88 million), an increase of $A5.2 million ($US2.62 million) dollars over the previous quarter's reserves.

"Net operating cashflows for the quarter exceeded $A7.2 million ($US3.63 million) following collection of payments from customers," he said.

Mr Kalcina said receipts from customers over the quarter increased by more than $A11 million ($US5.54 million) from the previous corresponding period.

He said company directors ...

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