Mitek Systems Inc.
Consolidated Statements of Operations
(Unaudited)
Three Months Ended
Dec. 31,
1998 1997
Net sales $ 2,210,000 $ 1,306,000
Cost of goods sold 423,000 497,000
Gross margin 1,787,000 809,000
Costs and Expenses
Operations 126,000 101,000
General and administrative 506,000 378,000
Research and development 295,000 453,000
Selling and marketing 496,000 538,000
Other charges 0 689,000
Interest income - net (10,000) (21,000)
Total costs and expenses 1,413,000 2,138,000
Operating income (loss) 374,000 (1,329,000)
Other expenses - net -- (300,000)
Income (loss) before income taxes 374,000 (1,629,000)
Income tax expense (benefit) -- --
Net income (loss) $ 374,000 $(1,629,000)
Net income (loss) per share - basic $ 0.04 $ (0.14)
Net income (loss) per share - diluted $ 0.04 $ (0.14)
Weighted average common shares - basic 10,420,568 11,540,421
Weighted average common shares - diluted 10,572,288 11,540,421
NOTE: FY 1998 amounts have been reclassified to be comparable
with FY 1999 amounts.
Mitek Systems Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
Dec. 31, Sept. 30,
1998 1998
Assets
Current assets 4,354,000 4,317,000
Property and equipment - net 233,000 192,000
Other assets 729,000 1,627,000
Total assets 5,316,000 6,136,000
Liabilities and Stockholders' Equity
Current liabilities 1,465,000 1,800,000
Long term liabilities 50,000 54,000
Total liabilities 1,515,000 1,854,000
Stockholders' Equity:
Common Stock 10,000 12,000
Additional paid-in capital 8,339,000 9,192,000
(Accumulated deficit) (4,548,000) (4,922,000)
Total stockholders' equity 3,801,000 4,282,000
Total liabilities and
stockholders' equity 5,316,000 6,136,000
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Contact:
Mitek Systems Inc., San Diego
John Thornton, 619/635-5900
or
The Financial Relations Board, 310/442-0599
Stacy Roughan (general information)
Eileen Morcos (investors)
Marjorie Ornston (media) |
