l iquidity and capital resources we have historically generated positive cash flow from operations and have generally used funds generated from operations and short-term borrowings on our revolving credit facility to meet capital requirements .
we expect this trend to continue in the future .
the company's cash and cash equivalents decreased to $ 65565 at june 30 , 2008 from $ 88617 at june 30 , 2007 .
the following table summarizes net cash from operating activities in the statement of cash flows : year ended june 30 cash provided by operations increased $ 6754 to $ 181001 for the fiscal year ended june 30 , 2008 as compared to $ 174247 for the fiscal year ended june 30 , 2007 .
this increase is primarily attributable to an increase in expenses that do not have a corresponding cash outflow , such as depreciation and amortization , as a percentage of total net income .
cash used in investing activities for the fiscal year ended june 2008 was $ 102148 and includes payments for acquisitions of $ 48109 , plus $ 1215 in contingent consideration paid on prior years 2019 acquisitions .
during fiscal 2007 , payments for acquisitions totaled $ 34006 , plus $ 5301 paid on earn-outs and other acquisition adjustments .
capital expenditures for fiscal 2008 were $ 31105 compared to $ 34202 for fiscal 2007 .
cash used for software development in fiscal 2008 was $ 23736 compared to $ 20743 during the prior year .
net cash used in financing activities for the current fiscal year was $ 101905 and includes the repurchase of 4200 shares of our common stock for $ 100996 , the payment of dividends of $ 24683 and $ 429 net repayment on our revolving credit facilities .
cash used in financing activities was partially offset by proceeds of $ 20394 from the exercise of stock options and the sale of common stock and $ 3809 excess tax benefits from stock option exercises .
during fiscal 2007 , net cash used in financing activities included the repurchase of our common stock for $ 98413 and the payment of dividends of $ 21685 .
as in the current year , cash used in fiscal 2007 was partially offset by proceeds from the exercise of stock options and the sale of common stock of $ 29212 , $ 4640 excess tax benefits from stock option exercises and $ 19388 net borrowings on revolving credit facilities .
at june 30 , 2008 , the company had negative working capital of $ 11418 ; however , the largest component of current liabilities was deferred revenue of $ 212375 .
the cash outlay necessary to provide the services related to these deferred revenues is significantly less than this recorded balance .
therefore , we do not anticipate any liquidity problems to result from this condition .
u.s .
financial markets and many of the largest u.s .
financial institutions have recently been shaken by negative developments in the home mortgage industry and the mortgage markets , and particularly the markets for subprime mortgage-backed securities .
while we believe it is too early to predict what effect , if any , these developments may have , we have not experienced any significant issues with our current collec- tion efforts , and we believe that any future impact to our liquidity would be minimized by our access to available lines of credit .
2008 2007 2006 .

2007
year ended june 30 2008 2007
year ended june 30 2008 2007
year ended june 30 2008
net income
$ 104222
$ 104681
$ 89923
non-cash expenses
70420
56348
52788
change in receivables
-2913 ( 2913 )
-28853 ( 28853 )
30413
change in deferred revenue
5100
24576
10561
change in other assets and liabilities
4172
17495
-14247 ( 14247 )
net cash from operating activities
$ 181001
$ 174247
$ 169438

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Question: what was the percentage change in the cash and cash equivalents at june 30 , 2008 from 2007 .
Answer: -26%