Consolidated Statements of Cash Flows Years ended December 31, 2002) 2001 2000 Cash flows from operating activities Net income $24,775,962) $17,328,529) $120,802,261) Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation 16,405,645) 16,798,846) 13,418,843) Loss on sale of property, plant and equipment 100,520) Loss (gain) on sale of short-term investments (30,954) 179,729) 141,233) Loss (gain) on sale of long-term investments 426,155) (5,159,414) (85,040,126) Write-down of other equity and debt securities 11,626,608) 5,653,536) 1,000,000) Deferred income taxes 1,210,392) (2,527,095) 16,411) Income tax benefit from exercise of non-qualified stock options 596,732) 16,451) 3,002,720) Change in operating assets and liabilities: Accounts receivable, net 21,716,477) 21,534,964) (22,096,955) Other receivables 5,149,743) 26,250,108) (31,430,079) Inventory, net 16,923,086) 32,403,259) (30,683,956) Prepaid expenses and other assets 857,431) 525,968) (2,871,152) Accounts payable 2,237,280) (18,562,147) 21,339,984) Accrued expenses 727,935) (838,391) 1,451,825) Income taxes payable 2,454,834) (382,185) (2,362,225) Net cash provided by (used in) operating activities 105,177,848 ) 93,222,158 ) (13,311,216) Cash flows from investing activities Expenditures for property, plant and equipment (2,646,553) (13,215,927) (32,540,097) Proceeds from the disposition of property, plant and equipment 100,000) Proceeds from sale of long-term investments 145,509,383) 36,281,649) 91,118,394) Purchases of long-term investments (189,385,000) (97,793,588) (37,027,741) Proceeds from sale of short-term investments 42,377,322) 59,228,684) 177,081,903) Purchases of short-term investments (35,810,613) (53,544,339) (168,792,543) Net cash provided by (used in) investing activities (39,855,461) (69,043,521) 29,839,916 ) Cash flows from financing activities Proceeds from issuance of common stock 3,696,120) 453,394) 6,768,117) Purchase of treasury stock (25,206,523) (4,100,350) (70,426) Net cash provided by (used in) financing activities (21,510,403) (3,646,956) 6,697,691 ) Net increase in cash and cash equivalents 43,811,984) 20,531,681) 23,226,391) Cash and cash equivalents, beginning of year 81,280,409 ) 60,748,728 ) 37,522,337 ) Cash and cash equivalents, end of year $125,092,393 ) $81,280,409 ) $60,748,728 ) Supplemental disclosure of cash flow information: Cash paid during the year for interest $2,527,778) $1,867,264) $1,802,158) Cash paid during the year for income taxes $8,497,608) $11,760,534) $61,760,406) The accompanying notes are an integral part of these consolidated financial statements. 23 Financial Results