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SEC Filings
10-Q
ARGON ST, INC. filed this Form 10-Q on 06/13/1995
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                     DAEDALUS ENTERPRISES, INC. AND SUBSIDIARIES
                  CONSOLIDATED STATEMENT OF CASH FLOWS - UNAUDITED

                                             Increase (Decrease) in Cash
                                                    Nine Months Ended
                                                        April 30, 
                                                    1995         1994 
Operating Activities  
  Net loss before cumulative effect of
    change in accounting principal - Note B      $ (673,675)  $ (161,702) 
  Adjustments to reconcile net income to net
    cash used in operating activities 
      Depreciation                                  114,967      140,749 
      Amortization of software                       64,317       74,489 
      Net book value of special equipment
        transferred to inventory -Note E                  0      124,466 
      Loss on disposal of property and equipment          0          129 
      Decrease (increase) in accounts receivable*   441,239     (287,691) 
      Increase in inventory*                       (261,873)    (100,148) 
      Increase in deferred tax asset               (306,212)           0 
      Decrease (increase) in income tax receivable  223,946      (78,133) 
      Decrease in other assets                       16,671       13,871 
      Decrease in accounts payable and accrued
        expenses*                                  (124,742)    (111,251) 
      Increase (decrease) in customer deposits*    (156,099)     126,722 
                                                   ---------    ---------
                 CASH USED IN OPERATING ACTIVITIES (661,461)    (258,499) 

Investing Activities  
  Purchase of property and equipment               (122,184)    (171,271) 
  Investment in capitalized software                      0      (44,692) 
                                                   ---------    ---------
                 CASH USED IN INVESTING ACTIVITIES (122,184)    (215,963) 

Financing Activities  
  Proceeds from revolving line of credit          2,087,000      580,000 
  Payments on revolving line of credit           (1,330,000)    (580,000) 
  Payments on long-term debt                        (24,618)     (28,165) 
  Payments of dividends                             (40,977)     (76,189) 
  Proceeds of stock issued pursuant to
    stock option and stock purchase plan              9,020        4,257 
                                                 ----------     ---------
            CASH  PROVIDED  BY (USED IN)
            FINANCING ACTIVITIES                    700,425     (100,097) 
                                                 ----------     ---------
Decrease in Cash                                    (83,220)    (574,559) 
Cash and Cash Equivalents at Beginning of Year      163,158      918,019 
                                                 ----------     ---------
           CASH AND CASH EQUIVALENTS AT END
           OF QUARTER                              $ 79,938     $343,460
                                                 ==========     =========
*Excluding effect of accounting change in the nine months ended April 30,
1994.

The accompanying notes are an integral part of these condensed
financial statements.


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