| PERIOD ENDING | 31-Dec-08 | 31-Dec-07 | 31-Dec-06 | | Net Income | 3,122,486 | 3,615,970 | 2,458,399 | | | Operating Activities, Cash Flows Provided By or Used In | | Depreciation | 8,325,688 | 8,559,022 | 7,244,486 | | Adjustments To Net Income | (1,284,237) | 509,623 | 1,798,249 | | Changes In Accounts Receivables | 1,054,456 | (590,633) | (608,658) | | Changes In Liabilities | (569,519) | 783,583 | (13,203) | | Changes In Inventories | (104,318) | (25,039) |
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| | Changes In Other Operating Activities | 1,248,994 |
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| (254,818) | | | Total Cash Flow From Operating Activities | 11,834,432 | 12,799,501 | 12,121,674 | | | Investing Activities, Cash Flows Provided By or Used In | | Capital Expenditures | (4,639,323) | (4,658,783) | (3,864,518) | | Investments | (2,280,895) | 698,155 | (165,038) | | Other Cashflows from Investing Activities | (2,770,061) | (2,293,305) | (1,503,822) | | | Total Cash Flows From Investing Activities | (9,690,278) | (6,253,933) | (5,533,377) | | | Financing Activities, Cash Flows Provided By or Used In | | Dividends Paid | (2,347,151) | (4,169,780) | (3,956,939) | | Sale Purchase of Stock | (36,652) |
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| | Net Borrowings | (974,103) | (3,524,650) | (6,568,493) | | Other Cash Flows from Financing Activities |
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| | | Total Cash Flows From Financing Activities | (3,357,905) | (7,694,430) | (10,525,432) | | Effect Of Exchange Rate Changes | (164,935) | 35,350 |
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| | | Change In Cash and Cash Equivalents | ($1,378,687) | ($1,113,512) | ($3,937,135) |
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0.04% Nasdaq 
Cash Flow
