| Cash Flow for White Electronic Designs Corp. (WEDC) | | | | | | | Cash Flow | in Thousands of Dollars | | | 09/2007 | 09/2006 | 09/2005 | 09/2004 | 09/2003 | | | Net Income | 3,086 | 6,013 | (3,535) | 4,807 | 10,150 | | Depreciation & Amortization | 3,885 | 4,160 | 4,067 | 4,416 | 4,846 | | Deferred Income Taxes | (1,547) | (404) | 670 | 1,188 | 32 | | Operating Losses | (101) | 26 | 11,484 | 603 | 2,816 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | 1,215 | 437 | (418) | 650 | (1,607) | | Decrease in Inventories | (11,812) | 208 | 5,135 | (6,026) | (43) | | Decrease in Other Current Assets | - | - | 10 | (40) | 794 | | Increase in Payables | 793 | 37 | (4,239) | 996 | 1,026 | | Increase in Other Current Liabilities | (2,253) | (2,214) | 2,147 | (2,570) | 1,034 | | Decrease in Other Working Capital | (74) | 85 | - | - | - | | Other Non-Cash Items | 1,965 | 819 | - | - | - | | Net Cash from Continuing Operations | 928 | 9,480 | 16,080 | 4,167 | 17,975 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 928 | 9,480 | 16,080 | 4,167 | 17,975 | | | | Sale of Property, Plant, Equipment | 2,220 | 54 | - | - | - | | Sale of Short Term Investments | - | - | - | 5,120 | - | | | Purchase of Property, Plant, Equipment | (2,787) | (4,060) | (3,509) | (2,299) | (3,862) | | Acquisitions | - | - | - | - | (8,391) | | Purchase of Short Term Investments | - | - | - | - | (5,080) | | Other Investment Changes, Net | - | - | - | - | - | | Cash from Investing Activities | (567) | (4,006) | (3,509) | 2,821 | (17,333) | | | Issuance of Debt | - | - | - | - | 12,128 | | Issuance of Capital Stock | 447 | 462 | 407 | 866 | 24,377 | | | Repayment of Debt | - | - | - | - | (6,128) | | Repurchase of Capital Stock | (8,041) | (1,199) | - | - | (12,940) | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | 56 | 84 | - | - | - | | Cash from Financing Activities | (7,538) | (653) | 407 | 866 | 17,437 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | (7,177) | 4,821 | 12,978 | 7,854 | 18,079 | | | Cash at Beginning of Year | 55,829 | 51,008 | 38,030 | 30,176 | 12,097 | | Cash at End of Period | 48,652 | 55,829 | 51,008 | 38,030 | 30,176 | | | |
