MicroTel International Inc.
Consolidated Condensed Statements of Operations
(Unaudited)
For the For the
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30,
1997 1996 1997 1996
(in thousands except per share amounts)
Net sales $11,536 $ 8,479 $31,356 $24,453
Cost of sales 8,570 6,390 23,626 17,984
Gross profit 2,966 2,089 7,730 6,469
Operating expenses:
Selling, general and
administrative 3,247 1,689 8,802 4,892
Engineering and
product development 569 76 1,361 233
Write down of goodwill 5,693 - 5,693 -
Income (loss) from
operations (5,974) 400 (6,765) 1,577
Other income (expense)
Interest expense (199) (166) (659) (409)
Other (27) (123) (20) (43)
Income (loss) before
income taxes (6,200) 111 (7,444) 1,125
Income taxes (benefit) 4 (10) 6 22
Net income (loss) $(6,204) $ 121 $(7,450) $ 1,103
Net income (loss) per
common share $ (0.54) $ 0.02 $ (0.78) $ 0.19
Weighted average number
of shares used calculating
net income (loss) per
share 11,520 5,886 9,581 5,850 |
