Question-and-Answer Session
Operator
Our first question comes from Paul Kaump - Northland Securities.
Paul Kaump - Northland Securities
Jim, do you have the breakdown of air data revenue versus flat panel in Q4?
Jim Reilly
Yes I do, Paul. The air data revenue in the quarter was approximately $1.2 million.
Paul Kaump - Northland Securities
All the rest is flat panel?
Jim Reilly
That’s correct.
Paul Kaump - Northland Securities
Cash flow from operations during the quarter, what was the use there?
Jim Reilly
The cash in the quarter was principally to drive the operations. Obviously we had the net loss in the quarter which sucked up cash. We grew our inventory a little bit. The accounts receivable were up in the quarter. They have since come right down, but basically a lot of the revenues that we had in the fourth quarter came in the last month, unfortunately, and as a result are showing on the balance sheet as of the end of the year as outstanding receivables. Those have since been collected. We had some additional expenses that we put through at the end of the year in terms of some of the legal bills and things like that.
Paul Kaump - Northland Securities
Do you actually have the cash flow from operations number for Q4?
Jim Reilly
Cash flow from operations for Q4 I don’t have right here, but I can give you the cash flow from operations for the year, that’s a lot easier. The year was a loss of $10 million; $8.8 million of that, of course, was the net income loss. The other pieces of that were principally accounts receivable, inventories and prepaid expenses. Those things actually added up to a little bit more than that and then we had some offsetting amounts; accounts payable and things like that.
Paul Kaump - Northland Securities
Switching gears, can you talk about the status of the timing of some of the STCs for the 737, 747 and Cessna Citation? If I’m not mistaken, the 737 and 747 are more than a year old at this point from when you got the initial orders. The Citation we are coming up on the year here, so I’m just curious about the status on those things.
Ray Wilson
The 747 engine displays that we are working on, we should have an SDC in the next quarter on that, first calendar year quarter of 2008. On Cessna, it’s probably going to be into the third quarter of 2008, the fourth quarter of this fiscal year. On the 737, quite frankly I think it’s going to drift out to the beginning of the next fiscal year. We are probably 12 months away from that.
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