Learmonth & Burchett Management Systems Plc
Consolidated Balance Sheet
(In thousands, except per share information)
July 31, April 30
1997 1997
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Assets (unaudited) (audited)
Current assets
Cash and cash equivalents $10,320 $8,461
Trade accounts receivable 2,563 4,358
Other current assets 1,269 1,023
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Total current assets 14,152 13,842
Furniture, fixtures and equipment 1,531 1,512
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Total assets $15,683 $15,354
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Liabilities and Shareholders' Equity
Current liabilities
Current maturities of indebtedness $493 $745
Accounts payable 729 486
Deferred revenue 4,073 3,534
Accrued liabilities 5,220 5,778
Executive Stock Option Trust indebtedness 977
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Total current liabilities 10,515 11,520
Indebtedness 178 238
Other liabilities 5,977 8,843
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Total liabilities 16,670 20,601
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Shareholders' equity:
Ordinary shares, 10 pence par value 4,338 4,267
Additional paid-in capital 21,423 20,330
Adjustment for ESOT 0 (977)
Cumulative translation adjustment (277) (372)
Accumulated deficit (26,471) (28,495)
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Total shareholders' equity (987) (5,247)
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Commitments and contingencies
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Total liabilities and shareholders' equity $15,683 $15,354
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LEARMONTH & BURCHETT MANAGEMENT SYSTEMS PLC
CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share information)
(unaudited)
Three months ended
July 31,
-------------------
1997 1996
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Revenue:
Product licenses $4,050 $2,004
Services 1,848 3,250
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Total revenue 5,898 5,254
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Cost of Revenue:
Product licenses 16 58
Services 969 1,616
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Total cost of revenue 985 1,674
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Gross profit 4,913 3,580
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Operating expenses:
Sales and marketing 2,447 4,522
Research and development 1,115 2,143
General and administrative 660 1,308
Restructuring benefit (1,256)
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Total operating expenses 2,966 7,973
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Operating income (loss) 1,947 (4,393)
Interest income 107 123
Interest expense (30) (34)
Other income and (expense) 4
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Income (loss) from continuing operations
before income taxes 2,024 (4,300)
Income tax benefit (expense)
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Net income (loss) $2,024 ($4,300)
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Income (loss) per ADS: (1) $0.15 ($0.34)
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Income (loss) per Ordinary Share: $0.07 ($0.17)
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Weighted average ADS and ADS
equivalents outstanding (1) 13,499 12,768
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Weighted average Ordinary and Ordinary
Share equivalents outstanding 26,998 25,535
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(1) Adjusted to reflect the ratio of one ADS to two Ordinary Shares.
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Contact:
LBMS, Houston
Steve Odom, 713/625-9311 or 800/231-7515 |
