we also sell complementary building products such as : ● vinyl siding ; ● doors , windows and millwork ; ● wood and fiber cement siding ; ● residential insulation ; and ● waterproofing systems . 19 of 65 the following is a summary of our net sales by product group ( in thousands ) for the last three full fiscal years ( “ 2011 ” , “ 2010 ” and “ 2009 ” ) . percentages may not total due to rounding . replace_table_token_5_th we have approximately 40,000 customers , none of which represents more than 2 % of our net sales . many of our customers are small to mid-size contractors with relatively limited capital resources . we maintain strict credit approval and review policies , which has helped to keep losses from customer receivables within our expectations . in 2011 , bad debts were slightly higher than normal levels at 0.4 % of net sales but still within our tolerance in consideration of the continued challenging economic and credit climate . our expenses consist primarily of the cost of products purchased for resale , labor , fleet , occupancy , and selling and administrative expenses . we compete for business and may respond to competitive pressures at times by lowering prices in order to maintain our market share . since 1997 , we have made twenty-five strategic and complementary acquisitions and opened 38 new branches ( two of which have been closed ) . we opened three new branches in 2011 , none in 2010 and three in 2009. we slowed the pace of new branch openings since 2007 , mostly as a result of the economic downturn . typically , when we open a new branch , we transfer a certain level of existing business from an existing branch to the new branch . this allows the new branch to commence with a base business and also allows the existing branch to target other growth opportunities . in managing our business , we consider all growth , including the opening of new branches , to be internal growth unless it is a result of an acquisition . in our management 's discussion and analysis of financial condition and results of operations , when we refer to growth in existing markets , we include growth from existing and newly-opened branches but exclude growth from acquired branches until they have been under our ownership for at least four full fiscal quarters at the start of the reporting period . our average annual internal sales growth over the seven fiscal years since our ipo was 3.1 % . when we refer to our net product costs , we are referring to our invoice cost less the impact of short-term buying programs ( also referred to as “ special buys ” given the manner in which they are offered ) . results of operations the following discussion compares our results of operations for 2011 , 2010 and 2009. the following table shows , for the periods indicated , information derived from our consolidated statements of operations expressed as a percentage of net sales for the periods presented . percentages may not total due to rounding . replace_table_token_6_th 20 of 65 2011 compared to 2010 the following table shows a summary of our results of operations for 2011 and 2010 , broken down by existing markets and acquired markets . replace_table_token_7_th net sales consolidated net sales increased $ 207.5 million , or 12.9 % , to $ 1,817.4 million in 2011 from $ 1,610.0 million in 2010. existing market sales increased $ 146.6 million or 9.3 % ( 8.8 % based on the same number of business days ) , while acquired market sales increased $ 60.9 million due to a full year 's sales impact from the 2010 acquisitions and the impact from the may 2011 enercon acquisition . we attribute the existing market sales increase primarily to the following factors : · strong growth in the markets affected by this spring 's hail storms ; · continued strong growth in non-residential roofing activity in most of the other regions ; and · industry-wide increases in asphalt shingle and other prices ; partially offset by : · volume declines in residential re-roofing activity in a few regions . in 2011 , we acquired six branches , opened three new branches , and closed three branches . we estimate the impact of inflation or deflation on our sales and gross profit by looking at changes in our net product costs and invoiced gross margins , and since last year we experienced an approximate 4 % increase in residential roofing product costs and approximately 4-7 % increases in non-residential and complementary product costs . the net impact of these factors increased our overall net product costs by approximately 5 % , although we believe average sales prices may have increased at a slightly higher rate as mentioned in the discussion of gross profit below . we had 254 business days in 2011 compared to 253 in 2010. net sales , excluding acquired branches , increased in every geographical region as follows : northeast 9.9 % ; mid-atlantic 8.5 % ; southeast 1.0 % ; southwest 6.0 % ; midwest 15.8 % ; west 18.7 % ; and canada 1.3 % . these variations were primarily caused by short-term factors such as local economic conditions , weather conditions and storm activity . the product group sales for our existing markets were as follows : for the fiscal years ended replace_table_token_8_th 21 of 65 for 2011 , our acquired markets recognized sales of $ 43.9 , $ 39.7 and $ 3.6 million in residential roofing products , non-residential roofing products and complementary building products , respectively . the 2011 existing market sales of $ 1,730.3 million plus the sales from acquired markets of $ 87.2 million agrees ( rounded ) to our reported total 2011 sales of $ 1,817.4 million . story_separator_special_tag we have funded our past capital expenditures through increased bank borrowings , including equipment financing , or through capital leases , and then have reduced these obligations with cash flows from operations . we believe we have adequate current liquidity and availability of capital to fund our present operations , meet our commitments on our existing debt and fund anticipated growth , including expansion in existing and targeted market areas . we continually seek potential acquisitions and from time to time hold discussions with acquisition candidates . if suitable acquisition opportunities or working capital needs arise that would require additional financing , we believe that our financial position and earnings history provide a strong base for obtaining additional financing resources at competitive rates and terms , as we have in the past . we may also issue additional shares of common stock to raise funds , which we did in december 2005 , or we may issue preferred stock . monitoring and assessing collectability of accounts receivable we perform periodic credit evaluations of our customers and typically do not require collateral , although we typically obtain payment and performance bonds for any type of public work and have the ability to lien projects under certain circumstances . consistent with industry practices , we require payment from most customers within 30 days , except for sales to our commercial roofing contractors , which we typically require to pay in 60 days . as our business is seasonal in certain regions , our customers ' businesses are also seasonal . sales are lowest in the winter months and our past due accounts receivable balance as a percentage of total receivables generally increases during this time . throughout the year , we closely monitor our receivables and record estimated reserves based upon our judgment of specific customer situations , aging of accounts and our historical write-offs of uncollectible accounts . 27 of 65 our regional credit offices are staffed to manage and monitor our receivable aging balances and our systems allow us to enforce pre-determined credit approval levels and properly leverage new business . the credit pre-approval process denotes the maximum requested credit amount that each level of management can approve , with the highest credit amount requiring approval by our ceo and cfo . there are daily communications with branch and field staff and the regional offices conduct periodic reviews with their branch managers , various regional management staff and the vp-credit . depending on the state of the respective region 's receivables , these reviews can be weekly , bi-weekly , or monthly . additionally , the regions are required to submit a monthly receivable forecast to the vp-credit . on a monthly basis , the vp-credit will review and discuss these forecasts , as well as a prior month recap , with the ceo and cfo . periodically , we perform a specific analysis of all accounts past due and write off account balances when we have exhausted reasonable collection efforts and determined that the likelihood of collection is remote based upon the following factors : aging statistics and trends ; customer payment history ; review of the customer 's financial statements when available ; independent credit reports ; and discussions with customers . we still pursue collection of amounts written off in certain circumstances and credit the allowance for any subsequent recoveries . in the past , bad debts typically averaged approximately 0.3 % of net sales . in 2011 , bad debts increased slightly to 0.4 % of net sales , which was still within our tolerance in consideration of the challenging economic and credit climate . indebtedness we currently have the following credit facilities : a senior secured credit facility in the u.s. ; a canadian senior secured credit facility ; and an equipment financing facility . senior secured credit facilities on november 2 , 2006 , we entered into an amended and restated seven-year $ 500 million u.s. senior secured credit facility and a c $ 15 million senior secured canadian credit facility with ge antares capital ( `` ge antares `` ) and a syndicate of other lenders ( combined , the `` credit facility `` ) . the credit facility refinanced the prior $ 370 million credit facilities that also were provided through ge antares . the credit facility provides us with lower interest rates and available funds for future acquisitions and ongoing working capital requirements . in addition , the credit facility increased the allowable total equipment financing and or capital lease financing to $ 35 million . the credit facility provides for a cash receipts lock-box arrangement that gives us sole control over the funds in lock-box accounts , unless excess availability is less than $ 10 million or an event of default occurs , in which case the senior secured lenders would have the right to take control over such funds and to apply such funds to repayment of the senior debt . the credit facility consists of a u.s. revolving credit facility of $ 150 million ( the `` us revolver `` ) , which includes a sub-facility of $ 20 million for letters of credit , and an initial $ 350 million term loan ( the `` term loan `` ) . the credit facility also includes a c $ 15 million senior secured revolving credit facility provided by ge canada finance holding company ( the `` canada revolver `` ) . there was a combined $ 159.7 million available for borrowings and less than $ 0.1 million was outstanding under the us revolver and canadian revolver at september 30 , 2011. there were $ 4.6 million of outstanding standby letters of credit at september 30 , 2011. the term loan requires amortization of 1 % per year , payable in quarterly installments of approximately $ 0.8 million , plus any required prepayments under the excess cash flow , discussed below , and with the remainder due in 2013.

liquidity and capital resources we had cash and cash equivalents of $ 143.0 million at september 30 , 2011 compared to $ 117.1 million at september 30 , 2010. our net working capital was $ 410.8 million at september 30 , 2011 compared to $ 367.6 million at september 30 , 2010 . 2011 compared to 2010 our net cash provided by operating activities was $ 79.3 million in 2011 compared to $ 73.9 million in 2010. the higher cash from operations was due to the increase in net income of $ 24.7 million , mostly offset by cash used by working capital changes , net of the impact of businesses acquired . changes in working capital provided a favorable increase in accounts payable and accrued expenses of $ 53.0 million and a favorable decrease in prepaid expenses and other assets of $ 7.5 million . these were more than offset by unfavorable increases in accounts receivable and inventories of $ 35.3 and $ 35.0 million , respectively . the increase in accounts payable and accrued expenses was primarily due to a higher level of inventory purchases later this year and higher accrued income taxes . the increase in accounts receivable was due to stronger fourth quarter sales in 2011 as compared to 2010. our days sales outstanding ( calculated based on the ending accounts receivable balance and the most recent quarter 's sales ) were down slightly due to the stronger fourth quarter sales and a lower fourth-quarter mix of non-residential sales this year , which generally have longer payment terms . inventory turns were relatively flat year over year , as the impact of this year 's larger build-up of inventory was offset by the impact of the higher sales .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources we had cash and cash equivalents of $ 143.0 million at september 30 , 2011 compared to $ 117.1 million at september 30 , 2010. our net working capital was $ 410.8 million at september 30 , 2011 compared to $ 367.6 million at september 30 , 2010 . 2011 compared to 2010 our net cash provided by operating activities was $ 79.3 million in 2011 compared to $ 73.9 million in 2010. the higher cash from operations was due to the increase in net income of $ 24.7 million , mostly offset by cash used by working capital changes , net of the impact of businesses acquired . changes in working capital provided a favorable increase in accounts payable and accrued expenses of $ 53.0 million and a favorable decrease in prepaid expenses and other assets of $ 7.5 million . these were more than offset by unfavorable increases in accounts receivable and inventories of $ 35.3 and $ 35.0 million , respectively . the increase in accounts payable and accrued expenses was primarily due to a higher level of inventory purchases later this year and higher accrued income taxes . the increase in accounts receivable was due to stronger fourth quarter sales in 2011 as compared to 2010. our days sales outstanding ( calculated based on the ending accounts receivable balance and the most recent quarter 's sales ) were down slightly due to the stronger fourth quarter sales and a lower fourth-quarter mix of non-residential sales this year , which generally have longer payment terms . inventory turns were relatively flat year over year , as the impact of this year 's larger build-up of inventory was offset by the impact of the higher sales .
```    
 Suspicious Activity Report : we also sell complementary building products such as : ● vinyl siding ; ● doors , windows and millwork ; ● wood and fiber cement siding ; ● residential insulation ; and ● waterproofing systems . 19 of 65 the following is a summary of our net sales by product group ( in thousands ) for the last three full fiscal years ( “ 2011 ” , “ 2010 ” and “ 2009 ” ) . percentages may not total due to rounding . replace_table_token_5_th we have approximately 40,000 customers , none of which represents more than 2 % of our net sales . many of our customers are small to mid-size contractors with relatively limited capital resources . we maintain strict credit approval and review policies , which has helped to keep losses from customer receivables within our expectations . in 2011 , bad debts were slightly higher than normal levels at 0.4 % of net sales but still within our tolerance in consideration of the continued challenging economic and credit climate . our expenses consist primarily of the cost of products purchased for resale , labor , fleet , occupancy , and selling and administrative expenses . we compete for business and may respond to competitive pressures at times by lowering prices in order to maintain our market share . since 1997 , we have made twenty-five strategic and complementary acquisitions and opened 38 new branches ( two of which have been closed ) . we opened three new branches in 2011 , none in 2010 and three in 2009. we slowed the pace of new branch openings since 2007 , mostly as a result of the economic downturn . typically , when we open a new branch , we transfer a certain level of existing business from an existing branch to the new branch . this allows the new branch to commence with a base business and also allows the existing branch to target other growth opportunities . in managing our business , we consider all growth , including the opening of new branches , to be internal growth unless it is a result of an acquisition . in our management 's discussion and analysis of financial condition and results of operations , when we refer to growth in existing markets , we include growth from existing and newly-opened branches but exclude growth from acquired branches until they have been under our ownership for at least four full fiscal quarters at the start of the reporting period . our average annual internal sales growth over the seven fiscal years since our ipo was 3.1 % . when we refer to our net product costs , we are referring to our invoice cost less the impact of short-term buying programs ( also referred to as “ special buys ” given the manner in which they are offered ) . results of operations the following discussion compares our results of operations for 2011 , 2010 and 2009. the following table shows , for the periods indicated , information derived from our consolidated statements of operations expressed as a percentage of net sales for the periods presented . percentages may not total due to rounding . replace_table_token_6_th 20 of 65 2011 compared to 2010 the following table shows a summary of our results of operations for 2011 and 2010 , broken down by existing markets and acquired markets . replace_table_token_7_th net sales consolidated net sales increased $ 207.5 million , or 12.9 % , to $ 1,817.4 million in 2011 from $ 1,610.0 million in 2010. existing market sales increased $ 146.6 million or 9.3 % ( 8.8 % based on the same number of business days ) , while acquired market sales increased $ 60.9 million due to a full year 's sales impact from the 2010 acquisitions and the impact from the may 2011 enercon acquisition . we attribute the existing market sales increase primarily to the following factors : · strong growth in the markets affected by this spring 's hail storms ; · continued strong growth in non-residential roofing activity in most of the other regions ; and · industry-wide increases in asphalt shingle and other prices ; partially offset by : · volume declines in residential re-roofing activity in a few regions . in 2011 , we acquired six branches , opened three new branches , and closed three branches . we estimate the impact of inflation or deflation on our sales and gross profit by looking at changes in our net product costs and invoiced gross margins , and since last year we experienced an approximate 4 % increase in residential roofing product costs and approximately 4-7 % increases in non-residential and complementary product costs . the net impact of these factors increased our overall net product costs by approximately 5 % , although we believe average sales prices may have increased at a slightly higher rate as mentioned in the discussion of gross profit below . we had 254 business days in 2011 compared to 253 in 2010. net sales , excluding acquired branches , increased in every geographical region as follows : northeast 9.9 % ; mid-atlantic 8.5 % ; southeast 1.0 % ; southwest 6.0 % ; midwest 15.8 % ; west 18.7 % ; and canada 1.3 % . these variations were primarily caused by short-term factors such as local economic conditions , weather conditions and storm activity . the product group sales for our existing markets were as follows : for the fiscal years ended replace_table_token_8_th 21 of 65 for 2011 , our acquired markets recognized sales of $ 43.9 , $ 39.7 and $ 3.6 million in residential roofing products , non-residential roofing products and complementary building products , respectively . the 2011 existing market sales of $ 1,730.3 million plus the sales from acquired markets of $ 87.2 million agrees ( rounded ) to our reported total 2011 sales of $ 1,817.4 million . story_separator_special_tag we have funded our past capital expenditures through increased bank borrowings , including equipment financing , or through capital leases , and then have reduced these obligations with cash flows from operations . we believe we have adequate current liquidity and availability of capital to fund our present operations , meet our commitments on our existing debt and fund anticipated growth , including expansion in existing and targeted market areas . we continually seek potential acquisitions and from time to time hold discussions with acquisition candidates . if suitable acquisition opportunities or working capital needs arise that would require additional financing , we believe that our financial position and earnings history provide a strong base for obtaining additional financing resources at competitive rates and terms , as we have in the past . we may also issue additional shares of common stock to raise funds , which we did in december 2005 , or we may issue preferred stock . monitoring and assessing collectability of accounts receivable we perform periodic credit evaluations of our customers and typically do not require collateral , although we typically obtain payment and performance bonds for any type of public work and have the ability to lien projects under certain circumstances . consistent with industry practices , we require payment from most customers within 30 days , except for sales to our commercial roofing contractors , which we typically require to pay in 60 days . as our business is seasonal in certain regions , our customers ' businesses are also seasonal . sales are lowest in the winter months and our past due accounts receivable balance as a percentage of total receivables generally increases during this time . throughout the year , we closely monitor our receivables and record estimated reserves based upon our judgment of specific customer situations , aging of accounts and our historical write-offs of uncollectible accounts . 27 of 65 our regional credit offices are staffed to manage and monitor our receivable aging balances and our systems allow us to enforce pre-determined credit approval levels and properly leverage new business . the credit pre-approval process denotes the maximum requested credit amount that each level of management can approve , with the highest credit amount requiring approval by our ceo and cfo . there are daily communications with branch and field staff and the regional offices conduct periodic reviews with their branch managers , various regional management staff and the vp-credit . depending on the state of the respective region 's receivables , these reviews can be weekly , bi-weekly , or monthly . additionally , the regions are required to submit a monthly receivable forecast to the vp-credit . on a monthly basis , the vp-credit will review and discuss these forecasts , as well as a prior month recap , with the ceo and cfo . periodically , we perform a specific analysis of all accounts past due and write off account balances when we have exhausted reasonable collection efforts and determined that the likelihood of collection is remote based upon the following factors : aging statistics and trends ; customer payment history ; review of the customer 's financial statements when available ; independent credit reports ; and discussions with customers . we still pursue collection of amounts written off in certain circumstances and credit the allowance for any subsequent recoveries . in the past , bad debts typically averaged approximately 0.3 % of net sales . in 2011 , bad debts increased slightly to 0.4 % of net sales , which was still within our tolerance in consideration of the challenging economic and credit climate . indebtedness we currently have the following credit facilities : a senior secured credit facility in the u.s. ; a canadian senior secured credit facility ; and an equipment financing facility . senior secured credit facilities on november 2 , 2006 , we entered into an amended and restated seven-year $ 500 million u.s. senior secured credit facility and a c $ 15 million senior secured canadian credit facility with ge antares capital ( `` ge antares `` ) and a syndicate of other lenders ( combined , the `` credit facility `` ) . the credit facility refinanced the prior $ 370 million credit facilities that also were provided through ge antares . the credit facility provides us with lower interest rates and available funds for future acquisitions and ongoing working capital requirements . in addition , the credit facility increased the allowable total equipment financing and or capital lease financing to $ 35 million . the credit facility provides for a cash receipts lock-box arrangement that gives us sole control over the funds in lock-box accounts , unless excess availability is less than $ 10 million or an event of default occurs , in which case the senior secured lenders would have the right to take control over such funds and to apply such funds to repayment of the senior debt . the credit facility consists of a u.s. revolving credit facility of $ 150 million ( the `` us revolver `` ) , which includes a sub-facility of $ 20 million for letters of credit , and an initial $ 350 million term loan ( the `` term loan `` ) . the credit facility also includes a c $ 15 million senior secured revolving credit facility provided by ge canada finance holding company ( the `` canada revolver `` ) . there was a combined $ 159.7 million available for borrowings and less than $ 0.1 million was outstanding under the us revolver and canadian revolver at september 30 , 2011. there were $ 4.6 million of outstanding standby letters of credit at september 30 , 2011. the term loan requires amortization of 1 % per year , payable in quarterly installments of approximately $ 0.8 million , plus any required prepayments under the excess cash flow , discussed below , and with the remainder due in 2013.

