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 .

Year ended June 30, 2008
2007
2006
Net income
$104,222
$104,681
$89,923
Non-cash expenses
70,420
56,348
52,788
Change in receivables
(2,913)
(28,853)
30,413
Change in deferred revenue
5,100
24,576
10,561
Change in other assets and liabilities
4,172
17,495
(14,247)
Net cash from operating activities
$181,001
$174,247
$169,438

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Question: Analyse this data from a financial earnings document. what was the percentage change in the cash and cash equivalents at june 30 , 2008 from 2007 .
Choices:
-3.84422
-0.26013
0.00001
0.26013
-0.35159
Correct choice index: 1