Audiovox 2008 Annual Report Download - page 119

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Audiovox Specialized Applications, LLC and Subsidiary
(A Limited Liability Company)
Consolidated Statements of Cash Flows
November 30, 2007, 2006 and 2005
2007 2006 2005
Cash Flows From Operating Activities
Net income $ 6,881,233 $ 5,795,107 $ 4,716,396
Adjustments to reconcile net income to net cash provided by operating
activities:
Depreciation 813,970 669,795 555,143
Loss on sale of equipment 234,282 25,203 28,967
Change in assets and liabilities:
Decrease (increase) in:
Trade receivables (562,504) (914,946) 872,117
Inventories (163,230) (5,905,969) 835,546
Prepaid expenses (20,452) (5,415) 29,417
Increase (decrease) in:
Accounts payable (537,780) 556,328 (53,693)
Accrued expenses 344,501 436,482 82,514
Net cash provided by operating activities 6,990,020 656,585 7,066,407
Cash Flows From Investing Activities
Proceeds on sale of equipment 6,660 3,813 12,111
Purchase of leasehold improvements and equipment (1,327,404) (838,513) (529,177)
Proceeds from sale of available-for-sale securities 10,870,000 19,529,850 5,435,000
Purchase of available-for-sale securities (12,200,000) (12,849,850) (10,250,000)
Net cash provided by (used in) investing activities (2,650,744) 5,845,300 (5,332,066)
Cash Flows From Financing Activities
Member distributions (4,089,423) (6,603,808) (2,294,258)
Increase (decrease) in cash and cash equivalents 249,853 (101,923) (559,917)
Cash and cash equivalents, beginning 1,017,540 1,119,463 1,679,380
Cash and cash equivalents, ending $ 1,267,393 $ 1,017,540 $ 1,119,463
See Notes to Financial Statements
5
Source: AUDIOVOX CORP, 10-K, May 14, 2008