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HMS Holdings Corp. Announces Q4 and Full Year 2007 Results
Date:2/28/2008

me $14,956 $5,325

Adjustments to reconcile net

income to net cash provided

by operating activities:

Income from discontinued operations - (416)

Loss on disposal of fixed assets 370 29

Depreciation and amortization 10,558 9,713

Share-based compensation expense 2,173 1,674

Changes in assets and liabilities:

(Increase) decrease in accounts

receivable (8,197) (2,105)

Increase in prepaid expenses and

other current assets (1,185) (213)

Decrease in deferred tax asset 3,445 3,163

(Increase) decrease in other

assets (171) 12

Increase in accounts payable,

accrued expenses and other

liabilities 6,284 337

Net cash provided by

operating activities 28,233 17,519

Investing activities:

Purchases of short-term investments - (59,450)

Sales of short-term investments - 96,950

Accordis note receivable - 5,360

Purchases of property and equipment (10,229) (3,334)

Acquisition of Permedion (627) -

Acquisition of BSPA (15,000) (81,150)

Investment in software (606) (1,131)

Net cash used in

investing activities
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SOURCE HMS Holdings Corp.
Copyright©2008 PR Newswire.
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