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AMICAS Reports Financial Results for the Fourth Fiscal Quarter and Year Ended December 31, 2008
Date:2/25/2009

y. (c) - includes $93,000, $67,000, $413,000, and $267,000 in stock-based compensation expense for the three and twelve months ended December 31, 2008, and December 31, 2007 respectively. 
                    CONDENSED Consolidated Statements Of Cash Flows
                                      (Unaudited)
                                     (in thousands)

                                                           Twelve Months Ended
                                                                December 31,
                                                               2008     2007

    Operating activities
      Net loss                                             $(30,071)   $(862)

    Adjustments to reconcile net (loss) income to cash
     provided by operating activities:
       Amortization of software development costs             2,204    1,957
       Depreciation and amortization                          1,084    1,119
       Impairment charges                                    27,490        -
       Loss on disposal of fixed assets                           6        -
       Non-cash stock compensation expense                    1,524    1,878
       Provisions for (recoveries from) bad debts               115      185
       Changes in operating assets and liabilities:
         Accounts receivable                                    145      719
         Prepaid expenses and other                             330    1,100
         Accounts payable and accrued expenses               (2,777)     493
         Deferred revenue including unearned discount         4,282     (889)
         Unrecognized tax benefits                              103    1,275
          Cash provided by operating activities               4,435    6,975

    Investing activities
       Purchases of property and equipment                     (645)    (510)
       Purchase of software                             
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SOURCE  AMICAS, Inc.
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