Financial Data
SUMMARY CONSOLIDATED FINANCIAL DATA
(IN THOUSANDS, EXCEPT PER SHARE DATA)
The following tables are a summary of financial data for our business. The
pro forma net loss per share calculation reflects the conversion of our
convertible preferred stock into shares of common stock upon the completion of
this offering. See Note 3 of Notes to Consolidated Financial Statements for an
explanation of the number of shares used in computing per share data. The pro
forma consolidated balance sheet data summarized below reflects the conversion
of all outstanding shares of convertible preferred stock into shares of common
stock and the payment of stock dividends due to certain common and preferred
stockholders upon completion of this offering. The pro forma as adjusted
consolidated balance sheet data also reflects the sale of the common stock in
this offering at an assumed initial public offering price of $ per share,
after deduction of estimated underwriting discounts and commissions and our
estimated offering expenses and the use of net proceeds as described in "Use of
Proceeds."
NINE MONTHS
FISCAL YEARS ENDED OCTOBER 31, ENDED JULY 31,
------------------------------- ------------------
1996 1997 1998 1998 1999
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CONSOLIDATED STATEMENT OF OPERATIONS DATA:
Revenues:
Product-related revenues................. $ -- $ 416 $ 8,281 $ 5,901 $ 12,237
Custom development services.............. 34,158 26,114 22,354 18,272 12,061
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Total revenues........................ 34,158 26,530 30,635 24,173 24,298
Income (loss) from operations.............. 3,150 (27,198) (7,738) (4,004) (20,112)
Net income (loss).......................... $ 1,844 $(28,789) $(8,064) $(4,298) $(20,517)
Net income (loss) per share:
Basic and diluted net income (loss) per
share................................. $ 0.18 $ (2.79) $ (0.81) $ (0.43) $ (2.05)
Basic weighted average common shares
outstanding........................... 10,401 10,319 9,925 9,908 10,017
Diluted weighted average common shares
outstanding........................... 10,432 10,319 9,925 9,908 10,017
Pro forma net loss per share (unaudited):
Pro forma net loss per share............. $ (0.48) $ (0.99)
Pro forma basic and diluted weighted
average common shares outstanding..... 16,900 20,754
JULY 31, 1999
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PRO FORMA
ACTUAL PRO FORMA AS ADJUSTED
------- --------- -----------
CONSOLIDATED BALANCE SHEET DATA:
Cash and cash equivalents.............. $ 1,936
Working capital (deficit).............. (4,403)
Total assets........................... 20,086
Long-term debt, less current portion... 1,130
Convertible preferred stock............ 191
Total stockholders' equity............. 229
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