Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-74

With all the advice TNT gave the market about the profitability of each of the acquisitions, I think more investors were expecting to see TNT reporting significant EBITDA and net cash flow by now, not just that it would be cash flow positive. This company's finances just seem to be bumping along the bottom. I'm afraid for me, cash flow positive is not good enough, that's too low a target. I think what the ******TV said is correct, though it's a sad state of affairs. TNT should be generating good profits for its shareholders by now, and paying down its debts. Neither one is happening.

All IMHO, DYOR