NTRX is on a conference call with investors and rumor or stated something about
Lucent Tech deal. DID anyone listen in?
Netrix Corporation Ticker: NTRX Page 1 of 10
Complete Financials: March 1999 Exchange NASD
FY END DEC
ISSUE DATA (07/09/99) PER SHARE DATA RATIOS
Price $ 3.47 EPS (TTM) $ -0.61 P/E (TTM) NM
52W High $ 4.38 Div. Rate $ 0.00 Yield 0.00 %
52W Low $ 0.91 Book Value $ 0.95 Price/Book 3.67
Shrs Out 11.49 Mil Cash $ 0.01 ROE (TTM) -50.68 %
Float 8.40 Mil Rev (TTM) $ 2.78 ROA (TTM) -33.07 %
Mon. Vol 4.14 Mil Curr. Ratio 1.98
Beta 1.82 LT Dbt/Eqty 0.00
BRIEF: NTRX manufactures, develops, markets and supports
high-performance networking equipment and network management
software for use in data, voice and image networks. For the
3 months ended 3/31/99, total revenues increased 1% to
$7.3M. Net loss increased 38% to $1.3M. Revenues reflect
an increase in product revenues due to higher sales of 2210
and 2550 series products. Net loss reflects a decreased
gross profit due to a lower-margin product mix.
Copyright (c) 1999, Market Guide Inc., All rights reserved (more)
Netrix Corporation QUARTERLY SUMMARY Page 2 of 10
HISTORICAL QUARTERLY RESULTS(Thousands of U.S. Dollars)
REVENUE 1996 1997 1998 1999
1st Qtr MAR 11,196 8,422 7,241 7,316
2nd Qtr JUN 10,538 8,487 7,830
3rd Qtr SEP 10,514 8,957 8,311
4th Qtr DEC 11,387 7,221 8,100
EPS (U.S. Dollars per share)
1st Qtr MAR -0.250 -0.480 -0.100 -0.110
2nd Qtr JUN -0.080 -0.170 -0.260
3rd Qtr SEP -0.150 -0.100 -0.010
4th Qtr DEC -0.150 -0.140 -0.230
EPS & wgt. avg. shs. o/s are pro-forma. FY'91 Mar. cash
flow statements is NA due to IPO. FY'94 annual financials
are reclassified. FY'95 & '96 Q's are reclassified.
DIVIDENDS EMPLOYEES
Last Dividend Decl. $ NA # Employees 168
Last Div Ex-Date NA Sales/Employee (TTM) 187,839
Last Div Pay Date NA Net. Income/Empl.(TTM) NM
Copyright (c) 1999, Market Guide Inc., All rights reserved (more)
Netrix Corporation COMPANY COMPARISON Page 3 of 10
TO THE DATA PROCESSING/SOFTWARE AND S&P 500 AGGREGATES
VALUATION RATIOS: COMPANY INDUSTRY S&P 500
P/E Ratio NM 61.44 37.47
Dividend Yield 0.00 0.06 1.21
Price to Tangible Book 3.83 17.74 11.75
Price to Book 3.67 19.12 9.02
Price to Free Cash Flow -13.39 55.68 44.29
GROWTH STATISTICS:
3 Yr Rev Growth -13.65 42.83 15.08
3 Yr EPS Growth NM 38.21 15.57
3 Yr Div Growth NM 11.70 10.74
Reinvestment Rate 100.00 97.64 70.94
PROFITABILITY RATIOS:
Net Profit Margin -21.79 20.66 11.23
Return on Equity -50.68 23.72 21.80
Interest Coverage NM 6.03 8.35
FINANCIAL STRENGTH RATIOS:
Current Ratio 1.98 3.10 1.48
LT Debt to Equity 0.00 0.13 0.85
Total Debt to Equity 0.09 0.15 1.05
Copyright (c) 1999, Market Guide Inc., All rights reserved (more)
Netrix Corporation TRADING & PRICE PERFORMANCE Page 4 of 10
INSTITUTIONAL OWNERSHIP INSIDER TRADING (Prev. 6 months)
% Shares Out. Owned 35.16 % Net Insider Trades 0
# of Institutions 20 # Buy Transactions 0
Total Shs Held 4.040 Mil # Sell Transactions 0
3 Mo. Net Purch. 1.163 Mil Net Shares Bought 0.000 Mil
3 Mo. Shs Purch. 1.271 Mil # Shares Bought 0.000 Mil
3 Mo. Shs Sold 0.108 Mil # Shares Sold 0.000 Mil
4 Week Price % Change 35.3% 4 Week Rel. Price % Change 26.5%
13 Week Price % Change 42.3% 13 Week Rel. Price % Change 37.2%
26 Week Price % Change 54.2% 26 Week Rel. Price % Change 40.4%
52 Week Price % Change 35.3% 52 Week Rel. Price % Change 12.5%
YTD Week Price % Change 46.1% YTD Week Rel. Price % Change 28.8%
SHORT INTEREST
Current month 0.111 Mil
Previous month 0.068 Mil
Avg Daily Vol. 0.088 Mil
MARKET MAKERS: FAHN WOLF NITE DLJP DAIN MASH MLCO HRZG SHWD
Copyright (c) 1999, Market Guide Inc., All rights reserved (more)
Netrix Corporation EQUITY, OFFICERS & ADDRESS Page 5 of 10
Common Stock $.05 Par, 4/99, 15M auth., 11,490,000 issd.
Insiders own 10%. Kopp Investment Advisors own 5%, New
Enterprise Associates IV, LP owns 7%, Dimensional Fund
Advisors, Inc. owns 5%. IPO 9/92, 2.75M shares @ $12.00 by
Alex. Brown and Sons. (As of 12/98) ST debt: $2.2M @ Prime
+ 2%.
OFFICERS: Lynn C. Chapman, Pres./CEO, Richard D. Rose,
VP-Fin./CFO, John Mullaney, Sr. VP, J. Gerard Cregan, VP.
TRANSFER AGENT: The First National Bank of Boston. Company
reincorporated 1987 in DE. Direct inquiries to: Director
of Investor Relations.
ADDRESS & PHONE NUMBERS
Netrix Corporation
13595 Dulles Technology Drive
Herndon, VA 20171
PHONE: (703) 742-6000
FAX: (703) 713-3805
Copyright (c) 1999, Market Guide Inc., All rights reserved (more)
Netrix Corporation ANNUAL INCOME STATEMENT Page 6 of 10
(Thousands of U.S. Dollars)
12M 12/31/95 12M 12/31/96 12M 12/31/97 12M 12/31/98
Product 38,812 32,434 22,474 21,840
Service 10,079 11,201 10,613 9,642
Total Revenue 48,891 43,635 33,087 31,482
Cost of Product 16,549 14,700 11,395 10,939
Cost of Service 7,117 7,363 7,045 5,155
Sales/Marketing 14,162 11,632 10,220 10,781
Research/Develop. 10,776 11,079 8,323 6,771
Sell./Gen./Admin. 4,787 4,266 4,002 4,324
Litigation 0 0 0 0
Relocation/Restruct. 0 900 875 0
Total Expenses 53,391 49,940 41,860 37,970
Operating Income -4,500 -6,305 -8,773 -6,488
Copyright (c) 1999, Market Guide Inc., All rights reserved (more)
Netrix Corporation ANNUAL INCOME STATEMENT Page 7 of 10
(Thousands of U.S. Dollars)
12M 12/31/95 12M 12/31/96 12M 12/31/97 12M 12/31/98
Operating Income -4,500 -6,305 -8,773 -6,488
Other, Net 820 403 196 -29
Interest Expenses 0 0 0 0
Income Before Taxes -3,680 -5,902 -8,577 -6,517
Income Taxes 115 66 0 0
Income After Taxes -3,795 -5,968 -8,577 -6,517
Pri/Bas EPS Ex. XOrd -0.405 -0.630 -0.898 -0.598
Pri/Bas EPS In. XOrd -0.405 -0.630 -0.898 -0.598
Primary/Basic Avg Sh 9,371.00 9,468.00 9,553.00 10,891.00
Common Dividends/Shr 0.0000 0.0000 0.0000 0.0000
Copyright (c) 1999, Market Guide Inc., All rights reserved (more)
Netrix Corporation SELECTED INCOME STATEMENT Page 8 of 10
(Thousands of U.S. Dollars)
QUARTERS YEAR TO DATE
3M 03/31/98 3M 03/31/99 3M 03/31/98 3M 03/31/99
Revenue 7,241 7,316 7,241 7,316
Operating Expenses 8,234 8,488 8,234 8,488
Operating Income -993 -1,172 -993 -1,172
Non-Operating Income 41 -140 41 -140
Non-Operating Expenses 0 0 0 0
Income Before Taxes -952 -1,312 -952 -1,312
Income Taxes 0 0 0 0
Adjustments to Income 0 0 0 0
Inc. for Primary EPS -952 -1,312 -952 -1,312
Pri/Bas EPS Ex. XOrd -0.099 -0.115 -0.099 -0.115
Disc Opns + Xord Items 0 0 0 0
Pri/Bas EPS In. XOrd -0.099 -0.115 -0.099 -0.115
Primary/Basic Avg Sh 9,643.00 11,451.00 9,643.00 11,451.00
Dilutd EPS Excl XOrd -0.099 -0.115 -0.099 -0.115
Dilutd EPS Incl XOrd -0.099 -0.115 -0.099 -0.115
Common Dividends/Shr 0.000 0.000 0.000 0.000
Copyright (c) 1999, Market Guide Inc., All rights reserved (more)
Netrix Corporation SELECTED BALANCE SHEET Page 9 of 10
(Thousands of U.S. Dollars)
YEAR ENDING QUARTER ENDING
12/31/97 12/31/98 03/31/98 03/31/99
Cash & ST Investments 2,758 2,488 1,768 157
Receivables 6,212 7,499 7,119 7,685
Total Current Assets 17,718 15,724 17,501 13,169
LT Investments 0 0 0 0
Fixed Assets 4,969 3,823 4,769 3,668
Total Assets 24,024 20,241 23,336 17,535
Accounts Payable 3,002 3,011 3,275 2,729
ST Debt & Curr LTD 1,147 2,167 1,733 939
Total Current Liab. 7,447 8,124 7,779 6,660
LT Debt & Cap Leases 0 0 0 0
Total Liabilities 7,544 8,124 7,803 6,660
Preferred Stock 0 0 0 0
Common/Paid In Capital 56,254 58,254 56,298 58,254
Retained Earnings -39,757 -46,274 -40,709 -47,585
Total Equity 16,480 12,117 15,533 10,875
Shares Outstanding 9,593 11,490 9,643 11,490
Copyright (c) 1999, Market Guide Inc., All rights reserved (more)
Netrix Corporation SELECTED STMT OF CASH FLOWS Page 10 of 10
INDIRECT METHOD (Thousands of U.S. Dollars)
ANNUAL YEAR TO DATE
12M 12/31/97 12M 12/31/98 3M 03/31/98 3M 03/31/99
Net Income -8,577 -6,517 -952 -1,312
Depreciation & Amort. 3,338 2,722 601 434
Non Cash Items 0 0 0 97
Total Operating CF -1,736 -2,133 -1,247 -863
Capital Expenditures -1,665 -1,311 -334 -212
Total Investing CF 3,685 -1,311 -334 -212
Dividends Paid 0 0 0 0
Sale (Purch.) of Stock 175 2,257 45 0
Net Borrowings -88 1,020 586 -1,228
Total Financing CF 87 3,277 631 -1,228
Exchange Rate Effect 35 -103 -40 -28
Net Change In Cash 2,071 -270 -990 -2,331
Oper CF-Cap Exp-Div Pd -3,401 -3,444 -1,581 -1,075
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