| Cash Flow for Deswell Industries Inc. (DSWL) | | | | | | | Cash Flow | in Thousands of Dollars | | | 03/2008 | 03/2007 | 03/2006 | 03/2005 | 03/2004 | | | Net Income | 8,779 | 12,167 | 8,779 | 15,183 | 14,720 | | Depreciation & Amortization | 5,299 | 5,274 | 5,299 | 4,970 | 4,402 | | Deferred Income Taxes | (294) | 615 | (294) | (15) | - | | Operating Losses | 1,260 | 247 | 1,340 | 2,213 | 1,760 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | 6,793 | (2,875) | 6,793 | (6,027) | (2,034) | | Decrease in Inventories | (709) | (7,650) | (709) | (4,962) | (1,390) | | Decrease in Other Current Assets | - | - | - | - | - | | Increase in Payables | (5,563) | 4,979 | (5,563) | 5,281 | 1,525 | | Increase in Other Current Liabilities | (3,049) | 2,194 | (3,049) | 1,591 | (3,454) | | Decrease in Other Working Capital | - | - | - | - | - | | Other Non-Cash Items | 80 | 820 | - | - | - | | Net Cash from Continuing Operations | 12,322 | 15,807 | 12,322 | 16,425 | 15,225 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 12,322 | 15,807 | 12,322 | 16,425 | 15,225 | | | | Sale of Property, Plant, Equipment | 50 | 3,232 | 50 | 36 | 430 | | Sale of Short Term Investments | - | - | - | - | 6,410 | | | Purchase of Property, Plant, Equipment | (6,940) | (7,812) | (6,940) | (17,003) | (19,862) | | Acquisitions | - | - | - | - | - | | Purchase of Short Term Investments | - | - | - | - | (1,056) | | Other Investment Changes, Net | - | - | - | - | - | | Cash from Investing Activities | (6,890) | (4,580) | (6,890) | (16,967) | (14,078) | | | Issuance of Debt | - | - | - | - | - | | Issuance of Capital Stock | 352 | 950 | 352 | 9,092 | 1,733 | | | Repayment of Debt | - | - | - | - | - | | Repurchase of Capital Stock | - | - | - | - | - | | Payment of Cash Dividends | (7,311) | (11,809) | (7,311) | (9,990) | (9,151) | | Other Financing Charges, Net | (1,008) | 67 | (1,008) | (680) | 2,064 | | Cash from Financing Activities | (7,967) | (10,792) | (7,967) | (1,578) | (5,354) | | | | Effect of Exchange Rate Changes | (169) | (1,255) | (169) | - | - | | Net Change in Cash | (2,704) | (820) | (2,704) | (2,120) | (4,207) | | | Cash at Beginning of Year | 28,073 | 25,369 | 28,073 | 30,193 | 34,400 | | Cash at End of Period | 25,369 | 24,549 | 25,369 | 28,073 | 30,193 | | | |
