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

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Loss on disposal of property and equipment 38 61

Changes in operating assets and liabilities

excluding effects of acquisitions:

Accounts receivable (1,334) (4,088)

Income tax receivable 99 (267)

Insurance receivable - (11,143)

Other current assets (837) (511)

Other non-current assets 116 (52)

Accounts payable (2,065) 1,613

Accrued expenses (5,405) (8,060)

Accrued compensation (309) 297

Customer accommodation and quantification (5,593) (2,976)

Deferred revenue 172 (1,210)

Other non-current liabilities 8 1,962

Net cash used in operating activities $(6,217) $(9,202)

Investing activities:

Purchase of property and equipment (3,078) (4,137)

Capitalized software (1,862) (824)

Proceeds from sale of investments 692 -

Net cash used in investing activities (4,248) (4,961)

Financing activities:

Net cash provided by financing activities - -

Effect of exchange rate changes (22) 32

Net decrease in cash and cash equivalents (10,487) (14,131)

Cash and cash equivalents - beginning of period 161,582 175,412

Cash and cash equivalents - end of period $151,095 $161,281

Supplemental cash flow information:

Cash paid for
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SOURCE MedQuist, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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