iPhone 5: Blue Screen and Restarting Issue

I have an iPhone 5 and am running iOS 7.0.04. Just a few days ago my phone has had the following issues:

1) Phone randomly restarts

2) While using the phone, system will crash and the result is the Blue Screen of death. Only way to get out of this crash is to do a manual restart

3) While using phone, screen will start flickering, lines will appear on screen and I will either get a Blue Screen or a White Screen.

I have done the following to date:

1) Backed up Phone and synced/restored from my Computer

2) Erased all settings and restored from iCloud Backup

My phone is out of warranty and I think if I take it back to the Apple Store they will tell me I'm SOL.

Just wanted to know if people think this is a Hardware or Software issue.