Tabular data in fixed font format:
KVH INDUSTRIES, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
MARCH 31, 2002 and DECEMBER 31, 2001
March 31, 2002 December 31, 2001
(Unaudited) (Audited)
Assets:
Current assets:
Cash and cash equivalents $9,073,634 11,240,893
Accounts receivable, net 6,971,414 6,026,689
Costs and estimated earnings in excess
of billings on uncompleted contracts 395,092 482,486
Inventories 5,126,771 4,124,203
Prepaid expenses and other deposits 425,868 406,866
Deferred income taxes 603,299 637,799
Total current assets 22,596,078 22,918,936
Property and equipment, net 7,566,370 7,431,287
Other assets, less accumulated amortization 540,693 573,849
Deferred income taxes 2,238,430 2,238,430
Total assets $32,941,571 33,162,502
Liabilities and stockholders' equity:
Current liabilities:
Current portion long-term debt $86,974 86,974
Accounts payable 3,214,322 2,084,507
Accrued expenses 1,177,421 1,143,790
Customer deposits 587,165 903,853
Total current liabilities 5,065,882 4,219,124
Long-term debt 2,676,576 2,697,147
Total liabilities 7,742,458 6,916,271
Stockholders' equity:
Common stock 109,874 109,612
Additional paid-in capital 34,576,992 34,478,002
Accumulated deficit (9,487,753) (8,341,383)
Total stockholders' equity 25,199,113 26,246,231
Total liabilities and stockholders' equity $32,941,571 33,162,502
KVH INDUSTRIES, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three months ended
March 31,
2002 2001
Net sales $9,641,513 8,132,671
Cost of sales 5,357,407 5,009,173
Gross profit 4,284,106 3,123,498
Operating expenses:
Research and development 2,333,699 1,744,205
Sales and marketing 2,318,264 2,248,332
General and administrative 719,340 638,251
Loss from operations (1,087,197) (1,507,290)
Other expense:
Other expense 2,024 22,335
Interest expense, net 22,649 7,741
Loss before income taxes (1,111,870) (1,537,366)
Income taxes 34,500 --
Net loss $(1,146,370) (1,537,366)
Per share information:
Loss per share:
Basic $(0.10) (0.18)
Diluted $(0.10) (0.18)
Number of shares used in per share calculation:
Basic 10,973,616 8,626,470
Diluted 10,973,616 8,626,470 |
