MDEA financials:
MEDIA 100 INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months Ended November 30,
As a As a
Percent Percent
1999 of Sales 1998 of Sales
Net sales:
Products $ 11,325 82.7% $ 9,491 82.5%
Services 2,362 17.3% 2,015 17.5%
Total net sales 13,687 100.0% 11,506 100.0%
Cost of sales 5,062 37.0% 4,788 41.6%
Gross profit 8,625 63.0% 6,718 58.4%
Operating expenses:
Research and development 2,748 20.1% 4,236 36.8%
Selling and marketing 3,519 25.7% 3,516 30.6%
General and administrative 1,306 9.5% 842 7.3%
Amortization of
acquisition-related
intangible assets 138 1.0% 0 0.0%
Total operating expenses 7,711 56.3% 8,594 74.7%
Operating income (loss) 914 6.7% (1,876) (16.3%)
Interest income 341 2.5% 334 2.9%
Income (loss) before
tax benefit 1,255 9.2% (1,542) (13.4%)
Tax benefit 0 0.0% 12 0.1%
Net income (loss) $ 1,255 9.2% ($ 1,530) (13.3%)
Income (loss) per share:
Basic $ 0.15 ($ 0.18)
Diluted $ 0.14 ($ 0.18)
Weighted average common
shares outstanding:
Basic 8,454 8,297
Diluted 9,257 8,297
MEDIA 100 INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Year Ended November 30,
As a As a
Percent Percent
1999 of Sales 1998 of Sales
Net sales:
Products $ 42,624 82.8% $ 34,597 82.8%
Services 8,855 17.2% 7,191 17.2%
Total net sales 51,479 100.0% 41,788 100.0%
Cost of sales 19,704 38.3% 17,367 41.6%
Gross profit 31,775 61.7% 24,421 58.4%
Operating expenses:
Research and development 13,074 25.4% 16,414 39.3%
Selling and marketing 14,208 27.6% 13,870 33.2%
General and administrative 4,225 8.2% 3,810 9.1%
Amortization of
acquisition-related
intangible assets 231 0.4% 0 0.0%
In-process research and
development 430 0.8% 0 0.0%
Restructuring costs 424 0.8% 0 0.0%
Total operating
expenses 32,592 63.3% 34,094 81.6%
Operating loss (817) (1.6%) (9,673) (23.2%)
Interest income 1,387 2.6% 1,622 3.9%
Income (loss) before tax
provision 570 1.1% (8,051) (19.3%)
Tax provision 0 0.0% 0 0.0%
Net income (loss) $ 570 1.1% ($ 8,051) (19.3%)
Income (loss) per share:
Basic $ 0.07 ($ 0.97)
Diluted $ 0.06 ($ 0.97)
Weighted average common shares outstanding:
Basic 8,347 8,273
Diluted 8,807 8,273
MEDIA 100 INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)
November 30, November 30,
1999 1998
ASSETS
Current assets:
Cash, cash equivalents and
marketable securities $ 28,400 $ 32,434
Accounts receivable, net 6,381 5,372
Income tax refund receivable 154 280
Inventories 1,478 967
Prepaid expenses 936 743
Total current assets 37,349 39,796
Equipment, net 6,638 8,363
Acquisition-related intangible assets 1,491 0
Other assets, net 365 313
Total assets $ 45,843 $ 48,472
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 1,892 $ 2,259
Accrued expenses 7,509 9,692
Deferred revenue 5,193 6,048
Total current liabilities 14,594 17,999
Stockholders' equity:
Common stock, $.01 par value 85 83
Capital in excess of par value 41,452 40,917
Accumulated deficit (10,028) (10,598)
Cumulative translation adjustment (49) (37)
Treasury stock, at cost 0 (163)
Unrealized holding gain (loss) on
available for sale securities (211) 271
Total stockholders' equity 31,249 30,473
Total liabilities and stockholders' equity $ 45,843 $ 48,472 |
