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MedQuist Reports Second Quarter 2008 Results
Date:8/8/2008

y - current 4,783 4,783

Deferred revenue 16,280 16,023

Total current liabilities 72,438 85,834

Deferred income taxes 16,635 15,151

Other non-current liabilities 2,065 2,143

Commitments and contingencies

Shareholders' equity:

Common stock - no par value; authorized

60,000 shares; 37,544 and 37,544

shares issued and outstanding, respectively 236,574 236,412

Retained earnings 70,294 72,876

Accumulated other comprehensive income 5,317 5,356

Total shareholders' equity 312,185 314,644

Total liabilities and shareholders' equity $403,323 $417,772

MedQuist Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(In thousands)

Unaudited

Six months ended

June 30,

2008 2007

Operating activities:

Net income (loss) $(2,582) $4,000

Adjustments to reconcile net income (loss)

to cash provided by (used in)

operating activities:

Depreciation and amortization 8,658 7,883

Equity in income of affiliated company (41) (323)

Deferred income tax provision 1,491 974

Stock option expense 162 207

Provision for doubtful accounts 1,205 2,431<
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SOURCE MedQuist, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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