Harbinger Group Inc.
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SEC Filings

10-Q
HRG GROUP, INC. filed this Form 10-Q on 08/14/2002
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Net cash provided by operating activities

Consolidated cash provided by operating activities increased during the six months ended June 30, 2002 as compared to the same period in the prior year. The increase was primarily due to Zapata’s receipt of a large income tax refund and Omega Protein’s generation of net income during the current period.

Net cash (used in) provided by investing activities

On a consolidated basis, the Company had net cash used in investing activities during the six months ended June 30, 2002 as compared to net cash provided by investing activities during the same period in the prior year. Variations in the Company’s consolidated net cash (used in) provided by investing activities are typically the result of the change in the mix of cash and cash equivalents and short and long-term investments during the period. All highly liquid investments with original maturities of three months or less are considered to be cash equivalents and all investments with original maturities of greater than three months are classified as either short or long-term investments. Accordingly, the net cash usage was primarily due to the increase in purchases of short-term investments during the period as compared to the same period in the prior year, and the purchase of long-term investments during the current period.

Net cash used in financing activities

Consolidated cash used in financing activities increased slightly during the six months ended June 30, 2002 as compared to the same period in the prior year. The modest increase was primarily due to an increase in Omega Protein’s repayments of long-term obligations during the period as compared to the same period in the prior year.

Because Zapata’s cash management activities are separate and distinct from those of Omega Protein and Zap.Com, it is useful to separately review Zapata Corporate’s cash flows separately. The following table summarizes this cash flow information (in thousands):

                 
    Three Months Ended   Three Months Ended
    June 30,   June 30,
Zapata Corporate   2002   2001

 
 
Cash provided by (used in)
               
Operating activities
  $ 14,973     $ (772 )
Investing activities
    (42,100 )     37,437  
Financing activities
           
 
   
     
 
Net (decrease) increase in cash and cash equivalents
  $ (27,127 )   $ 36,665  
 
   
     
 

Net cash used in (provided by) operating activities

Zapata Corporate had net cash provided by operating activities during the six months ended June 30, 2002 as compared to net cash used in operating activities during the same period in the prior year. The change from net cash used in operating activities to net cash provided by operating activities was primarily due to the receipt of a large income tax refund during the current period.

Net cash (used in) provided by investing activities

Zapata Corporate had net cash used in investing activities during the six months ended June 30, 2002 as compared to net cash provided by investing activities during the same period in the prior year. The change from net cash provided by investing activities to net cash used in investing activities was primarily due to an increase in purchases in short-term investments and a decrease in proceeds from maturities of short-term investments during the quarter as compared to the same period in the prior year, and the purchase of long-term investments during the current period.

Net used in financing activities

Zapata Corporate had no cash provided by (used in) financing activities during the six months ended June 30, 2002 or June 30, 2001.

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