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Providence Service Corporation Announces 187% Revenue Increase in First Quarter of 2008
Date:5/7/2008

nagement fee receivable (295) (677)

Other receivable 882 (715)

Restricted cash 559 -

Reinsurance liability reserve (46) (588)

Prepaid expenses and other 749 512

Accounts payable and accrued expenses 4,760 1,491

Accrued transportation costs 768 -

Deferred revenue (838) 18

Other long-term liabilities 29 -

Net cash provided by operating activities 12,242 1,074

Investing activities

Purchase of property and equipment, net (1,017) (289)

Acquisition of businesses, net of cash acquired (346) (607)

Restricted cash for contract performance 2,643 567

Sale / (purchase) of short-term investments, net 26 (76)

Collection of notes receivable 2,531 30

Net cash provided by (used in) investing activities 3,837 (375)

Financing activities

Repurchase of common stock, for treasury - (10,376)

Proceeds from common stock issued pursuant to

stock option exercise 101 26

Excess tax benefit upon exercise of stock options 27 -

Repayment of long-term debt (2,162) (116)

Debt financing costs (33) -

Net cash used in financing activities (2,067) (10,466)

Effect of exchange rate changes on cash (195) -

Net change in cash
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SOURCE The Providence Service Corporation
Copyright©2008 PR Newswire.
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