| Cash Flow for Radware Ltd. (RDWR) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (12,011) | (1,280) | 9,344 | 13,780 | 6,355 | | Depreciation & Amortization | 5,056 | 2,976 | 1,921 | 1,429 | 1,509 | | Deferred Income Taxes | (60) | (241) | 20 | (350) | - | | Operating Losses | - | - | 1,471 | 1,045 | (38) | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (869) | (3,337) | (1,614) | (3,719) | (932) | | Decrease in Inventories | 1,493 | (1,520) | (1,160) | (1,096) | (10) | | Decrease in Other Current Assets | - | - | - | - | - | | Increase in Payables | 581 | 1,627 | 245 | 790 | 1,673 | | Increase in Other Current Liabilities | 3,865 | 3,421 | 4,040 | 2,954 | 91 | | Decrease in Other Working Capital | - | - | - | - | - | | Other Non-Cash Items | 4,305 | 5,147 | - | - | - | | Net Cash from Continuing Operations | (1,125) | 7,251 | 13,850 | 15,151 | 8,960 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | (1,125) | 7,251 | 13,850 | 15,151 | 8,960 | | | | Sale of Property, Plant, Equipment | - | - | 297 | 16 | - | | Sale of Short Term Investments | 116,972 | 84,412 | 17,727 | 13,369 | 20,152 | | | Purchase of Property, Plant, Equipment | (6,747) | (5,843) | (3,626) | (2,369) | (1,311) | | Acquisitions | (7,293) | (3,000) | (9,011) | (335) | (350) | | Purchase of Short Term Investments | (67,121) | (115,336) | (32,048) | (31,320) | (5,586) | | Other Investment Changes, Net | - | 11 | (10,024) | - | - | | Cash from Investing Activities | 35,796 | (39,756) | 26,310 | (23,754) | 151 | | | Issuance of Debt | - | - | - | - | - | | Issuance of Capital Stock | 1,381 | 12,635 | 7,311 | 6,905 | 6,563 | | | Repayment of Debt | - | - | - | - | - | | Repurchase of Capital Stock | - | (11,069) | - | - | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | - | - | - | - | - | | Cash from Financing Activities | 1,381 | 1,566 | 7,311 | 6,905 | 6,563 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | 36,052 | (30,939) | 47,471 | (1,698) | 15,674 | | | Cash at Beginning of Year | 25,324 | 56,263 | 8,792 | 31,771 | 16,097 | | Cash at End of Period | 61,376 | 25,324 | 56,263 | 30,073 | 31,771 | | | |
