| Cash Flow for Value Line Inc. (VALU) | | | | | | | Cash Flow | in Thousands of Dollars | | | 04/2008 | 04/2007 | 04/2006 | 04/2005 | 04/2004 | | | Net Income | 25,550 | 24,607 | 23,439 | 21,318 | 20,350 | | Depreciation & Amortization | 1,619 | 2,063 | 2,275 | 2,506 | 2,726 | | Deferred Income Taxes | (151) | (138) | (204) | (371) | 193 | | Operating Losses | (2,874) | (2,164) | (2,074) | (7,674) | (4,017) | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | 1,545 | (769) | (301) | (554) | 57 | | Decrease in Inventories | - | - | - | - | - | | Decrease in Other Current Assets | - | 6,529 | (4,364) | - | - | | Increase in Payables | (593) | (1,338) | 1,939 | 796 | 1,043 | | Increase in Other Current Liabilities | (74) | 50 | 808 | (623) | 1,943 | | Decrease in Other Working Capital | (1,810) | (3,290) | (2,450) | 20,597 | - | | Other Non-Cash Items | (3,926) | 112 | - | - | - | | Net Cash from Continuing Operations | 20,356 | 25,181 | 18,919 | 36,590 | 21,628 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 20,356 | 25,181 | 18,919 | 36,590 | 21,628 | | | | Sale of Property, Plant, Equipment | - | - | - | - | - | | Sale of Short Term Investments | 12,415 | 12,890 | 2,430 | 12,671 | 41,549 | | | Purchase of Property, Plant, Equipment | (609) | (795) | (942) | (1,630) | (271) | | Acquisitions | - | - | - | - | - | | Purchase of Short Term Investments | (31,833) | (18,742) | (2,467) | (1,039) | (55,406) | | Other Investment Changes, Net | - | - | - | - | (1,907) | | Cash from Investing Activities | (20,027) | (8,927) | 422 | (24,071) | 156,245 | | | Issuance of Debt | - | - | - | - | - | | Issuance of Capital Stock | - | - | - | - | - | | | Repayment of Debt | - | - | - | - | - | | Repurchase of Capital Stock | - | - | - | - | - | | Payment of Cash Dividends | (11,979) | (10,980) | (9,981) | (184,656) | (9,982) | | Other Financing Charges, Net | - | - | - | - | - | | Cash from Financing Activities | (11,979) | (10,980) | (9,981) | (184,656) | (9,982) | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | (11,650) | 5,274 | 9,360 | (172,137) | 167,891 | | | Cash at Beginning of Year | 20,605 | 15,331 | 5,971 | 178,108 | 10,217 | | Cash at End of Period | 8,955 | 20,605 | 15,331 | 5,971 | 178,108 | | | |
