Hi recieved ACRI financials today by E-mail.
Notice the investment level at Soundview technologies.(The V-chip arm of the company) I'll take the nichimen number anyday.
In fact I will take the TVL investment based solely on pre-V-Gis business and existing clientele.
Rampant
Acacia Research Reports First-Quarter Financial Results
PASADENA, Calif.--(BUSINESS WIRE)--May 17, 1999--Acacia Research
Corp. (Nasdaq/NMS:ACRI) today reported results for the first quarter.
Net loss for the three-month period ended March 31, 1999, was
$2,004,000, or 20 cents per share, vs. a net loss of $997,000, or
15 cents per share, for the comparable 1998 period.
CEO and President Paul R. Ryan said, "The increase in the
quarterly loss was expected as both the company and its affiliate
companies accelerated investments in developing their businesses."
Net loss in the first quarter of 1999 included losses of $433,000
associated with the company's equity interests in its minority-owned
affiliates, which included $319,000 attributable to the company's
interest acquired in Signature-mail.com in April 1998, as compared
with $38,000 in 1998.
Marketing, general and administrative expenses increased to
$832,000 in the first quarter of 1999 from $485,000 in 1998 due to
general expansion of the company, including an increase in office
expenses relating to the company's move to larger office facilities,
an increase in business development expenses as the company explores
new business opportunities, and an increase in personnel.
Research and development costs associated with the company's
consolidated subsidiaries, Soundview Technologies, CombiMatrix Corp.,
and MerkWerks Corp., increased to $469,000 in the first quarter of
1999 from $368,000 in 1998 primarily due to the expansion of
CombiMatrix's efforts in this area.
As of March 31, 1999, total assets were $17,829,000, of which
$6,553,000 is cash and cash equivalents and $1,912,000 of which
represents the company's investment in its private investment
partnerships. Patents and goodwill were $4,343,000 and $1,057,000,
respectively, and are being amortized against earnings over periods
ranging from three to five years.
Acacia Research Corp. (ACRI) is a diversified company with
interests in several enterprises -- CombiMatrix Corp. (biochips/drug
discovery technology), Greenwich Information Technologies LLC (video
and audio-on-demand technology), MerkWerks Corp. (software
development), Signature-mail.com llc (personalized e-mail service),
Soundview Technologies Incorporated (V-chip technology), Whitewing
Labs Inc. (marketer of nutritional supplements), and Acacia Capital
Management (investment advisory services).
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Acacia Research Corp. (ACRI)
Consolidated Statement of Operations
(unaudited)
Three months ended
3/31/99 3/31/98
Revenue (management fee income) $ 61,000 $ 31,000
Operating expenses:
Research and development 469,000 368,000
Marketing, general,
and administrative 832,000 485,000
Amortization of patents and goodwill 390,000 383,000
Total operating expenses 1,691,000 1,236,000
Operating loss (1,630,000) (1,205,000)
Other income (expense):
Interest income 72,000 16,000
Interest expense (41,000) (1,000)
Equity in income of partnerships 44,000 54,000
Equity in losses of affiliates (433,000) (38,000)
Total other income (expense) (358,000) 31,000
Loss before income taxes
and minority interests (1,988,000) (1,174,000)
Provision for income taxes (16,000) --
Loss before minority interests (2,004,000) (1,174,000)
Minority interests -- 177,000
Net loss ($ 2,004,000) ($ 997,000)
Loss per common share (basic and
diluted) (20 cents) (15 cents)
Weighted avg number of common shares
for basic and diluted computation 10,209,926 6,673,402
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--30--MW/la* KWP/la |
