| Cash Flow for National Research Corp. (NRCI) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 6,839 | 5,884 | 5,236 | 4,551 | 4,384 | | Depreciation & Amortization | 2,583 | 2,260 | 1,762 | 2,018 | 1,941 | | Deferred Income Taxes | 117 | 99 | 264 | 615 | 331 | | Operating Losses | (4) | 48 | 197 | 345 | 165 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | 1,517 | (1,974) | (2,079) | 2,161 | (597) | | Decrease in Inventories | - | - | - | - | - | | Decrease in Other Current Assets | - | - | 29 | (187) | 961 | | Increase in Payables | 1,467 | (74) | 602 | (48) | (85) | | Increase in Other Current Liabilities | 330 | (59) | 2,132 | (1,321) | 1,471 | | Decrease in Other Working Capital | 563 | (714) | - | - | - | | Other Non-Cash Items | 1,124 | 1,086 | - | - | - | | Net Cash from Continuing Operations | 14,566 | 6,812 | 8,188 | 7,817 | 8,265 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 14,566 | 6,812 | 8,188 | 7,817 | 8,265 | | | | Sale of Property, Plant, Equipment | 0 | 0 | - | 5 | 3 | | Sale of Short Term Investments | 4,007 | 9,784 | 25,353 | 6,537 | 11,202 | | | Purchase of Property, Plant, Equipment | (1,956) | (1,453) | (1,088) | (2,067) | (1,683) | | Acquisitions | - | (20,621) | (4,459) | - | (997) | | Purchase of Short Term Investments | (2,990) | (1,379) | (19,454) | (9,211) | (14,065) | | Other Investment Changes, Net | - | - | - | - | - | | Cash from Investing Activities | (939) | (13,668) | 354 | (4,736) | (5,540) | | | Issuance of Debt | 375 | 14,795 | - | - | - | | Issuance of Capital Stock | 338 | 926 | 254 | 333 | 201 | | | Repayment of Debt | (8,475) | (5,173) | (3,430) | (143) | (132) | | Repurchase of Capital Stock | (241) | (1,236) | (8,191) | (2,886) | (274) | | Payment of Cash Dividends | (3,324) | (2,756) | - | - | - | | Other Financing Charges, Net | 80 | 342 | - | (143) | - | | Cash from Financing Activities | (11,246) | 6,897 | (11,366) | (2,839) | (205) | | | | Effect of Exchange Rate Changes | 98 | (9) | 21 | (35) | (70) | | Net Change in Cash | 2,479 | 32 | (2,803) | 207 | 2,450 | | | Cash at Beginning of Year | 876 | 844 | 3,648 | 3,441 | 991 | | Cash at End of Period | 3,355 | 876 | 844 | 3,648 | 3,441 | | | |
