| Cash Flow for HealthStream Inc. (HSTM) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 4,087 | 2,500 | 1,913 | (1,048) | (3,412) | | Depreciation & Amortization | 1,948 | 1,406 | 1,538 | 1,366 | 1,371 | | Deferred Income Taxes | (1,990) | - | - | - | - | | Operating Losses | 1 | 3 | 96 | 41 | 213 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (60) | (2,425) | (553) | (1,444) | 499 | | Decrease in Inventories | - | - | - | - | - | | Decrease in Other Current Assets | 251 | (26) | (99) | 456 | 219 | | Increase in Payables | 126 | 682 | 475 | (34) | 146 | | Increase in Other Current Liabilities | (81) | 520 | 1,418 | 1,007 | (1,524) | | Decrease in Other Working Capital | 372 | 3 | - | - | - | | Other Non-Cash Items | 772 | 697 | - | - | - | | Net Cash from Continuing Operations | 7,105 | 3,998 | 5,173 | 375 | (1,059) | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 7,105 | 3,998 | 5,173 | 375 | (1,059) | | | | Sale of Property, Plant, Equipment | - | - | - | - | - | | Sale of Short Term Investments | 2,500 | 18,785 | 20,500 | 18,951 | 11,809 | | | Purchase of Property, Plant, Equipment | (3,831) | (3,675) | (752) | (1,621) | (720) | | Acquisitions | (11,814) | - | (9,524) | - | - | | Purchase of Short Term Investments | (800) | (14,304) | (12,650) | (19,077) | - | | Other Investment Changes, Net | - | (270) | - | 233 | - | | Cash from Investing Activities | (13,945) | 536 | (2,426) | (1,514) | 11,089 | | | Issuance of Debt | 1,500 | - | 814 | - | - | | Issuance of Capital Stock | 370 | 653 | - | 226 | 188 | | | Repayment of Debt | (2,076) | (187) | (92) | (49) | (68) | | Repurchase of Capital Stock | (81) | - | - | - | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | - | - | - | - | - | | Cash from Financing Activities | (286) | 466 | 722 | 176 | 121 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | (7,126) | 5,000 | 3,469 | (962) | 10,150 | | | Cash at Beginning of Year | 10,726 | 5,726 | 2,257 | 3,220 | 4,070 | | Cash at End of Period | 3,599 | 10,726 | 5,726 | 2,257 | 14,220 | | | |
