| Cash Flow for HiTech Pharmacal Co. Inc. (HITK) | | | | | | | Cash Flow | in Thousands of Dollars | | | 04/2008 | 04/2007 | 04/2006 | 04/2005 | 04/2004 | | | Net Income | (5,098) | (2,036) | 11,453 | 8,288 | 6,592 | | Depreciation & Amortization | 2,923 | 2,835 | 2,616 | 2,053 | 1,475 | | Deferred Income Taxes | 527 | (1,490) | 6 | (1,529) | (111) | | Operating Losses | 90 | (1,848) | - | 902 | 1,214 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (8,273) | 7,388 | (1,115) | (5,830) | (4,245) | | Decrease in Inventories | (2,617) | (5,843) | (281) | (1,745) | (280) | | Decrease in Other Current Assets | 178 | (47) | (84) | 263 | 111 | | Increase in Payables | 1,536 | (2,095) | (78) | 880 | (707) | | Increase in Other Current Liabilities | (2,572) | 1,899 | (463) | 2,651 | 682 | | Decrease in Other Working Capital | 1 | 300 | (548) | (75) | - | | Other Non-Cash Items | 3,651 | 2,830 | 3,793 | - | - | | Net Cash from Continuing Operations | (9,448) | 1,151 | 13,079 | 7,087 | 5,573 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | (9,448) | 1,151 | 13,079 | 7,087 | 5,573 | | | | Sale of Property, Plant, Equipment | 1,491 | 2,287 | - | - | - | | Sale of Short Term Investments | 21,025 | 930 | - | 5 | - | | | Purchase of Property, Plant, Equipment | (3,518) | (2,997) | (9,704) | (2,980) | (2,225) | | Acquisitions | (5,962) | - | - | - | - | | Purchase of Short Term Investments | - | - | (15,000) | - | (10,005) | | Other Investment Changes, Net | - | - | - | (3,231) | - | | Cash from Investing Activities | 13,036 | 220 | (24,704) | (6,206) | (12,230) | | | Issuance of Debt | - | 252 | - | - | - | | Issuance of Capital Stock | 427 | - | 3,010 | 567 | 23,959 | | | Repayment of Debt | - | - | - | - | (62) | | Repurchase of Capital Stock | (1,961) | (11,444) | - | (6,948) | (197) | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | 470 | 507 | - | - | - | | Cash from Financing Activities | (1,064) | (10,685) | 3,010 | (6,381) | 23,700 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | 2,524 | (9,314) | (8,615) | (5,500) | 17,043 | | | Cash at Beginning of Year | 9,198 | 18,512 | 27,127 | 32,627 | 15,584 | | Cash at End of Period | 11,722 | 9,198 | 18,512 | 27,127 | 32,627 | | | |
