Forgot to use fixed font.. this should look better.
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Tuesday April 25, 4:17 pm Eastern Time
Company Press Release
SOURCE: InterNAP Network Services Corporation
InterNAP Network Services Corporation
Balance Sheet
(in thousands)
(unaudited)
March 31, December 31,
2000 1999
ASSETS
Current assets:
Cash and cash equivalents $64,996 $155,184
Short-term investments 102,154 50,168
Investment income receivable 2,398 591
Accounts receivable, net of allowance
of $370 and $206, respectively 6,333 4,084
Prepaid expenses and other assets 456 553
Total current assets 176,337 210,580
Property and equipment, net 37,776 28,811
Patents and trademarks, net 157 142
Investments 17,987 5,050
Deposits and other assets, net 1,281 963
Total assets $233,538 $245,546
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $6,579 $7,278
Accrued liabilities 3,541 4,209
Deferred revenue 217 22
Note payable, current portion 1,188 1,021
Line of credit 1,525 1,525
Capital lease obligations,
current portion 8,310 6,613
Total current liabilities 21,360 20,668
Note payable, less current portion 3,049 2,861
Capital lease obligations,
less current portion 13,880 11,517
Total liabilities 38,289 35,046
Commitments and contingencies
Shareholders' equity:
Common stock, $0.001 par value,
500,000 shares authorized;
133,747 and 132,089 shares issued
and outstanding, respectively 134 132
Additional paid-in capital 289,534 287,054
Deferred stock compensation (14,154) (17,228)
Accumulated deficit (80,081) (59,458)
Accumulated comprehensive (loss) (184) --
Total shareholders' equity 195,249 210,500
Total liabilities and
shareholders' equity $233,538 $245,546
InterNAP Network Services Corporation
Statement of Operations
(in thousands, except per share amounts)
(unaudited)
Three months ended
March 31,
2000 1999
Revenues $8,891 $1,244
Costs and expenses:
Cost of network and customer support 15,326 2,346
Product development 1,578 565
Sales and marketing 7,689 2,236
General and administrative 4,388 1,172
Amortization of deferred stock compensation 3,074 349
Total operating costs and expenses 32,055 6,668
Loss from operations (23,164) (5,424)
Other income (expense):
Interest income 2,926 206
Interest and financing expense (385) (57)
Net loss $(20,623) $(5,275)
Basic and diluted net loss per share $(0.16) $(0.79)
Weighted average shares used in
computing basic and diluted net
loss per share 132,526 6,674
SOURCE: InterNAP Network Services Corporation |
