| Cash Flow for Elron Electronic Industries Ltd. (ELRN) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (37,095) | 3,032 | 47,335 | 84,133 | (7,205) | | Depreciation & Amortization | 751 | 1,192 | 1,513 | 1,868 | 3,573 | | Deferred Income Taxes | 4,986 | (4,243) | (7,288) | (2,409) | 6,229 | | Operating Losses | (5,914) | (18,258) | (67,868) | (111,523) | (20,976) | | Extraordinary Losses | N/A | - | - | - | - | | | Decrease in Receivables | 4,076 | (1,195) | (985) | (51) | 5,379 | | Decrease in Inventories | N/A | (1,069) | (519) | 333 | 589 | | Decrease in Other Current Assets | 1 | (2) | 4 | 5 | (4) | | Increase in Payables | 133 | 2,589 | (834) | (1,184) | (2,009) | | Increase in Other Current Liabilities | (5,764) | 7,195 | (12,139) | 16,935 | (5,275) | | Decrease in Other Working Capital | 124 | 843 | (753) | (552) | 652 | | Other Non-Cash Items | 10,945 | (1,937) | 1,154 | - | - | | Net Cash from Continuing Operations | (26,898) | (11,853) | (40,380) | (9,412) | (16,483) | | Net Cash from Discontinued Operations | N/A | - | - | - | - | | Cash from Operating Activities | (26,898) | (11,853) | (40,380) | (9,412) | (16,483) | | | | Sale of Property, Plant, Equipment | N/A | 19 | 197 | - | 329 | | Sale of Short Term Investments | N/A | 82,332 | 119,888 | 41,407 | 55,118 | | | Purchase of Property, Plant, Equipment | N/A | (1,308) | (995) | (728) | (547) | | Acquisitions | N/A | (808) | - | - | - | | Purchase of Short Term Investments | N/A | (35,377) | (35,405) | (43,000) | (10,877) | | Other Investment Changes, Net | (18,905) | 32,695 | 3,230 | 138,427 | (5,181) | | Cash from Investing Activities | (18,905) | 34,997 | 112,817 | 30,728 | 38,842 | | | Issuance of Debt | 5,513 | 2,868 | 1,003 | 2,058 | 7,991 | | Issuance of Capital Stock | N/A | 527 | 850 | 2,097 | 177 | | | Repayment of Debt | (423) | (105) | (1,856) | (66,519) | (14,522) | | Repurchase of Capital Stock | N/A | - | - | - | - | | Payment of Cash Dividends | N/A | - | (88,450) | (67) | - | | Other Financing Charges, Net | 7,849 | - | (75) | (180) | - | | Cash from Financing Activities | 12,939 | 3,290 | (88,528) | (62,611) | (6,354) | | | | Effect of Exchange Rate Changes | N/A | - | - | - | - | | Net Change in Cash | (32,864) | 26,434 | (16,091) | (41,295) | 16,005 | | | Cash at Beginning of Year | 52,954 | 26,520 | 42,611 | 83,906 | 67,901 | | Cash at End of Period | 20,090 | 52,954 | 26,520 | 42,611 | 83,906 | | | |
