| Cash Flow for Universal Display Corp. (PANL) | | | | After Hours: $ 10.00 |  0.01 (+0.10%) | Volume: 500 | 4:00 PM EST Jan 8, 2009 | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (15,976) | (15,187) | (15,802) | (15,777) | (17,353) | | Depreciation & Amortization | 1,774 | 1,829 | 1,655 | 1,399 | 2,043 | | Deferred Income Taxes | - | - | - | - | - | | Operating Losses | - | - | 4,625 | 5,733 | 6,450 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (282) | (169) | 644 | (1,783) | (143) | | Decrease in Inventories | (11) | 6 | (16) | 13 | (33) | | Decrease in Other Current Assets | (68) | (109) | (254) | (55) | 22 | | Increase in Payables | (1,817) | 245 | 3,219 | 884 | 1,115 | | Increase in Other Current Liabilities | - | 3,188 | 4,002 | 949 | 345 | | Decrease in Other Working Capital | (540) | (2,069) | - | - | - | | Other Non-Cash Items | 4,439 | 6,025 | - | - | - | | Net Cash from Continuing Operations | (11,097) | (4,704) | (345) | (6,965) | (5,798) | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | (11,097) | (4,704) | (345) | (6,965) | (5,798) | | | | Sale of Property, Plant, Equipment | - | - | - | - | - | | Sale of Short Term Investments | 29,892 | 25,589 | 32,393 | 36,155 | 8,113 | | | Purchase of Property, Plant, Equipment | (1,226) | (2,349) | (5,657) | (7,418) | (957) | | Acquisitions | - | - | - | - | - | | Purchase of Short Term Investments | (61,336) | (24,375) | (22,791) | (48,654) | (19,219) | | Other Investment Changes, Net | - | - | - | - | - | | Cash from Investing Activities | (32,670) | (1,135) | 3,945 | (19,917) | (12,063) | | | Issuance of Debt | - | - | - | 4,500 | - | | Issuance of Capital Stock | 46,540 | 6,282 | 8,424 | 31,446 | 16,030 | | | Repayment of Debt | - | - | (4,500) | (4) | (5) | | Repurchase of Capital Stock | - | - | - | - | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | - | - | 4,200 | (4,200) | - | | Cash from Financing Activities | 46,540 | 6,282 | 8,124 | 31,742 | 16,026 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | 2,773 | 443 | 11,724 | 4,860 | (1,835) | | | Cash at Beginning of Year | 31,098 | 30,654 | 18,931 | 14,070 | 15,905 | | Cash at End of Period | 33,871 | 31,098 | 30,654 | 18,931 | 14,070 | | | |
