Triton Network Systems, Inc. Announces Second Quarter Results
Triton Network Systems, Inc.
Summary Financial Data
(In Thousands, Except Per Share Data)
(Unaudited)
Three Months Six Months
Ended June 30, Ended June 30,
2000 1999 2000 1999
Statement of Operations:
Net revenues $5,200 $-- $8,697 $--
Cost of revenues 5,585 -- 10,748 --
Gross profit (loss) $(385) -- $(2,051) --
Gross margin % (7.4)% -- (23.6)% --
Operating Expenses
Manufacturing and operations -- 1,218 -- 3,936
Research and development 5,606 2,273 9,767 5,116
Sales and marketing 3,385 1,596 6,723 3,208
General and administrative 1,731 1,000 3,600 1,558
Amortization of
intangible assets 1,942 -- 1,942 --
Amortization of
deferred compensation 288 396 608 775
Total operating expenses 12,952 6,483 22,640 14,593
Operating loss (13,337) (6,483) (24,691) (14,593)
Interest income 370 261 934 565
Interest expense (222) (96) (367) (178)
Net loss $(13,189) $(6,318) $ (24,124) $(14,206)
Basic and diluted
net loss per share $(2.31) $(1.33) $(4.34) $(3.14)
Weighted average shares
of common stock outstanding
used in computing basic and
diluted net loss per share 5,708 4,755 5,558 4,524
Pro forma basic and diluted
net loss per share(A) $(0.48) $(0.34) $(0.94) $(0.79)
Pro forma weighted average
shares of common stock
outstanding used in computing
basic and diluted
net loss per share(A) 27,265 18,509 25,754 17,981
(A) Pro forma basic and diluted net loss per share assumes that the
conversion of preferred stock, which was converted to common stock in
July 2000 upon the closing of the initial public offering, occurred
as of the beginning of the respective reporting period.
Triton Network Systems, Inc.
Summary Financial Data
(In Thousands)
June 30, 2000 December 31, 1999
(Unaudited)
Balance Sheet Data:
Assets
Cash and cash equivalents $16,904 $46,130
Accounts receivable 1,610 --
Inventory 13,981 7,245
Other current assets 1,554 1,018
Current assets 34,049 54,393
Plant, property, and equipment, net 15,927 7,970
Intangible assets 36,900 --
Other assets 2,143 1,337
Total assets $89,019 $63,700
Liabilities and stockholders' equity
Accounts payable and accrued liabilities $11,766 $8,773
Current portion of long-term debt 2,402 1,439
Current liabilities 14,168 10,212
Long-term debt and other 5,279 2,155
Total liabilities 19,447 12,367
Stockholders' equity 69,572 51,333
Total liabilities and stockholders' equity $89,019 $63,700
SOURCE Triton Network Systems, Inc. |
