Nope that's about all there is:
Item 1. Financial Statements.
ZOOM TELEPHONICS, INC.
Consolidated Balance Sheets
6/30/98 12/31/97
ASSETS (Unaudited) (Audited)
----------- ---------
Current assets:
Cash and cash equivalents $ 16,380,005 $ 11,281,337
Accounts receivable, net of reserves
for doubtful accounts, returns, and
allowances of $5,162,141 at 6/30/98 and
$4,518,206 at 12/31/97 7,617,684 13,365,413
Inventories 9,862,648 12,034,349
Recoverable income taxes 294,378 3,793,963
Deferred income taxes 2,514,348 2,388,189
Prepaid expenses and other assets 231,582 212,989
------------- -------------
Total current assets 36,900,645 43,076,240
Property and equipment, net 3,879,641 3,967,767
Goodwill 1,307,930 1,393,874
Other non-current assets 15,515 77,392
$ 42,103,731 $ 48,515,273
============= =============
I've been doing some checks on video cameras - checking how
many that the retailers stock vs. say modems for instance just
to get a feel for the ratios here. Best initial guess is that it is
down to about 4-5 modems to 1 video camera at retail (though
much worse elsewhere maybe 15 to 1 or worse 20 to 1 - thereby
rough unit sales about 10% of modem sales assuming similar
turnover but I think I feel safe with a floor of about 5% for now
that is, I think we can get a 5% revenue gain from the video cam
product line for now (and much better margins!) going up to I
hope say 10% by q1 next year and maybe as much as 20% by q4 next
year).
Shane. (So that now true op. cash flow is lower are they hence doing
better? <g> Also if from last year's figures one removed the "-ve refunds" they were +7mil last year compared to +2 this year now... So they are doing "better" from a product sales point of view and decent from a cash point of view. As far as being big enough that actually does not bother me quite honestly. I think they are reasonably big
enough for their sales channels and for instance in Macs they are more
than big enough (reaching here!). I think it will be awhile before anyone gets any pricing power in this industry - though I am willing to be surprised...) |
