| Cash Flow for Aladdin Knowledge Systems Ltd. (ALDN) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 14,888 | 14,031 | 12,356 | 8,788 | 2,736 | | Depreciation & Amortization | 2,797 | 2,416 | 1,967 | 2,072 | 2,110 | | Deferred Income Taxes | (71) | (354) | (803) | (81) | (414) | | Operating Losses | 2,361 | (243) | (151) | (74) | 131 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (1,260) | (2,924) | (1,808) | (3,830) | (1,378) | | Decrease in Inventories | (1,167) | (97) | (1,277) | 198 | 1,033 | | Decrease in Other Current Assets | - | - | - | - | - | | Increase in Payables | 2,416 | 1,321 | 936 | 1,160 | (114) | | Increase in Other Current Liabilities | 1,383 | 1,368 | 3,354 | 381 | 1,815 | | Decrease in Other Working Capital | (373) | 1,369 | - | (7) | (15) | | Other Non-Cash Items | 1,167 | 2,008 | - | - | - | | Net Cash from Continuing Operations | 22,141 | 18,895 | 14,625 | 8,755 | 5,904 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 22,141 | 18,895 | 14,625 | 8,755 | 5,904 | | | | Sale of Property, Plant, Equipment | 11 | 95 | 34 | 15 | 139 | | Sale of Short Term Investments | 81,819 | 4,371 | - | - | - | | | Purchase of Property, Plant, Equipment | (3,271) | (4,576) | (2,303) | (1,237) | (913) | | Acquisitions | - | - | - | - | - | | Purchase of Short Term Investments | (43,265) | (6,500) | (40,465) | (7,000) | - | | Other Investment Changes, Net | - | (2,508) | 910 | (5,387) | (1,810) | | Cash from Investing Activities | 34,799 | (8,482) | (42,674) | (13,609) | (2,584) | | | Issuance of Debt | - | - | - | - | - | | Issuance of Capital Stock | 724 | 835 | 39,263 | 3,642 | 456 | | | Repayment of Debt | - | - | - | - | - | | Repurchase of Capital Stock | (19,986) | - | - | - | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | - | - | - | - | - | | Cash from Financing Activities | (19,262) | 835 | 39,263 | 3,642 | 456 | | | | Effect of Exchange Rate Changes | (203) | 60 | (101) | 238 | 276 | | Net Change in Cash | 37,475 | 11,308 | 11,113 | (974) | 4,052 | | | Cash at Beginning of Year | 39,734 | 28,426 | 17,313 | 18,287 | 14,235 | | Cash at End of Period | 77,209 | 39,734 | 28,426 | 17,313 | 18,287 | | | |
