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Unformatted text preview: sh flow went from a negative $26 million to a positive $138 million. The company continued to apply its disciplined capital budgeting approach to expansion projects required to meet a large increase in demand. By 2000, return on invested capital was almost 12 percent, and return on equity was almost 13 percent. The result was improved shareholder value as the stock price climbed from $19 in early 1997 to peak at $82 in December 2000; it was trading at about $65 a share in March 2002. Sources: Stephen Barr, “Coors’s New Brew,” CFO (March 1998), downloaded from www.cfonet.com; Coors Annual Report, 2000, www.coors.com; “Coors Reports 13 Percent Rise,” AP Online (October 25, 2001), downloaded from Electric Library, ask.elibrary.com; and John Rebchook, “Coors Building Expanded Distribution Facility off I-70,” Denver Rocky Mountain News (December 19, 2001), p. 4B. and materials costs of retrofitting the system to drill press X12 and the benefits expected from the retrofit. The $237,...
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This document was uploaded on 01/19/2014.

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