| Balance Sheet for QAD Inc. (QADI) | | | | | | | Assets | in Thousands of Dollars | | | 01/2008 | 01/2007 | 01/2006 | 01/2005 | 01/2004 | | | Cash and Equivalents | 45,613 | 54,192 | 59,971 | 55,289 | 59,784 | | Marketable Securities | - | - | - | 13,000 | - | | Receivables | 83,027 | 68,806 | 61,819 | 63,145 | 65,455 | | Inventories | - | - | - | - | - | | Other Current Assets | 10,787 | 8,702 | 14,406 | 8,142 | 7,341 | | Total Current Assets | 151,382 | 141,962 | 136,196 | 145,219 | 138,591 | | | Gross Fixed Assets | 86,456 | 85,829 | 88,067 | 92,151 | 90,098 | | Accumulated Depreciation | (44,006) | (43,433) | (47,242) | (52,450) | (55,613) | | Net Fixed Assets | 42,450 | 42,396 | 40,825 | 39,701 | 34,485 | | Intangibles | 8,783 | 9,631 | 15,891 | 14,343 | 11,306 | | Other Non-Current Assets | 3,006 | 3,713 | 14,146 | 7,830 | 5,446 | | Total Non-Current Assets | 84,511 | 85,055 | 70,862 | 61,874 | 51,237 | | Total Assets | 235,893 | 227,017 | 207,058 | 207,093 | 189,828 | | | Liabilities | in Thousands of Dollars | | | 01/2008 | 01/2007 | 01/2006 | 01/2005 | 01/2004 | | | Accounts Payable | 12,249 | 11,662 | 39,945 | 11,896 | 12,553 | | Short Term Debt | 274 | 272 | 243 | 1,725 | 11,987 | | Other Current Liabilities | 14,109 | 20,454 | - | 33,234 | 38,821 | | Total Current Liabilities | 142,536 | 126,960 | 115,502 | 117,660 | 132,613 | | | Long Term Debt | 16,998 | 17,271 | 17,546 | 23,911 | 7,720 | | Deferred Income Tax | - | - | - | - | - | | Other Non-Current Liabilities | 3,764 | 4,756 | 820 | 892 | 1,882 | | Minority Interest | - | 672 | 665 | 593 | 500 | | Total Non-Current Liabilities | 20,762 | 22,699 | 19,031 | 25,396 | 10,102 | | Total Liabilities | 163,298 | 149,659 | 134,533 | 143,056 | 142,715 | | | Preferred Stock Equity | - | - | - | - | - | | Common Stock Equity | 72,595 | 77,358 | 72,525 | 64,037 | 47,113 | | Total Equity | 72,595 | 77,358 | 72,525 | 64,037 | 47,113 | | Total Liabilities & Stock Equity | 235,893 | 227,017 | 207,058 | 207,093 | 189,828 | | | |
