This is such a disappointing handling of a promising
merger opportunity and a balance sheet that I can recall.
I can't believe this stock didn't challenge the 1 7/8 level
of just prior to the Wall takeover announcement.
And, reporting the comparative 1999 results of operations
without either Simware Inc. or Wall makes it too difficult
for me to evaluate, except I can see obfuscation.
Glad I never bought it (I had Wall), and sorry I didn't short it.
They even messed up the year:
NetManage, Inc.
CONDENSED CONSOLIDATED BALANCE SHEET DATA
(in thousands)
June 30, December 31,
1999 1999
-------- --------
(Unaudited)
Cash and cash equivalents $ 41,184 $ 63,079
Short-term investments 122 148
Accounts receivable, net 22,278 30,544
Prepaid expenses and other current assets 16,874 20,497
-------- --------
Total current assets 80,458 114,268
Property and equipment, net 8,740 11,585
Goodwill 80,174 86,040
Other assets 3,757 3,474
-------- --------
$173,129 $215,367
======== ========
Current liabilities $ 65,526 $ 91,508
Long-term liabilities 2,400 3,666
Stockholders' equity 105,203 120,193
-------- --------
$173,129 $215,367
======== ======== |
