| Cash Flow for P.A.M. Transportation Services Inc. (PTSI) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 2,653 | 17,964 | 13,139 | 10,588 | 11,490 | | Depreciation & Amortization | 38,759 | 33,929 | 31,376 | 30,016 | 26,601 | | Deferred Income Taxes | 1,749 | 2,305 | - | 6,825 | 7,175 | | Operating Losses | (1,119) | 137 | 3,176 | 593 | 473 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | 889 | 3,483 | (19,236) | (1,393) | (11,983) | | Decrease in Inventories | - | - | - | - | (3,170) | | Decrease in Other Current Assets | (113) | 440 | (40) | (8,279) | (975) | | Increase in Payables | 1,089 | 2,219 | (5,881) | 7,202 | 7,156 | | Increase in Other Current Liabilities | 496 | (525) | 1,207 | (837) | 1,168 | | Decrease in Other Working Capital | - | - | - | - | - | | Other Non-Cash Items | 786 | 751 | - | - | - | | Net Cash from Continuing Operations | 45,189 | 60,703 | 23,741 | 44,715 | 37,935 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 45,189 | 60,703 | 23,741 | 44,715 | 37,935 | | | | Sale of Property, Plant, Equipment | 22,273 | 11,987 | 22,850 | 31,360 | 20,393 | | Sale of Short Term Investments | 1,622 | - | - | - | 152 | | | Purchase of Property, Plant, Equipment | (76,166) | (53,514) | (62,013) | (53,703) | (74,238) | | Acquisitions | - | - | - | - | (10,752) | | Purchase of Short Term Investments | (5,389) | (1,203) | (1,884) | (2,423) | (4,020) | | Other Investment Changes, Net | (4,073) | - | 20 | 36 | 55 | | Cash from Investing Activities | (61,733) | (42,730) | (41,027) | (24,730) | (68,410) | | | Issuance of Debt | 510,143 | 448,217 | 424,437 | 355,191 | 355,565 | | Issuance of Capital Stock | 120 | 300 | - | - | - | | | Repayment of Debt | (487,026) | (466,649) | (408,190) | (358,666) | (352,952) | | Repurchase of Capital Stock | (7,331) | - | (17,869) | - | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | 5 | 70 | 378 | 85 | 160 | | Cash from Financing Activities | 15,911 | (18,062) | (1,244) | (3,390) | 2,773 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | (633) | (89) | (18,530) | 16,595 | (27,702) | | | Cash at Beginning of Year | 1,040 | 1,129 | 19,659 | 3,064 | 30,766 | | Cash at End of Period | 407 | 1,040 | 1,129 | 19,659 | 3,064 | | | |
