financials:
+---------------------------+
| FINANCIAL DATA |
+---------------------------+
SUMMARY CONSOLIDATED FINANCIAL DATA
(IN THOUSANDS, EXCEPT PER SHARE DATA)
The following table sets forth summary financial data for Optical Access.
This information should be read in conjunction with the financial statements and
the notes to those financial statements appearing elsewhere in this prospectus.
PERIOD FROM
APRIL 1, 1998
(DATE OF
INCEPTION) YEAR ENDED DECEMBER 31, SIX MONTHS ENDED JUNE 30,
THROUGH -------------------------- ---------------------------------------
DECEMBER 31, PRO FORMA PRO FORMA
1998 1999 1999(1) 1999 2000 2000(1)
------------- ------------ ----------- ----------- ----------- -----------
CONSOLIDATED STATEMENT OF
OPERATIONS DATA:
Net sales..................... $ -- $ 8,473 $ 14,596 $ 1,735 $ 7,918 $ 10,886
Cost of sales(2).............. -- 4,555 15,607 989 4,887 10,914
------- ------- -------- ------- ------- --------
Gross profit.................. -- 3,918 (1,011) 746 3,031 (28)
Operating costs and expenses:
Selling, general and
administrative(2)......... -- 1,688 18,229 349 3,122 13,486
Research and
development(2)............ 3,213 4,543 27,759 2,524 5,735 18,164
Amortization of goodwill.... -- -- 28,241 -- 1,091 14,121
------- ------- -------- ------- ------- --------
Total operating costs......... 3,213 6,231 74,229 2,873 9,948 45,771
------- ------- -------- ------- ------- --------
Operating loss................ (3,213) (2,313) (75,240) (2,127) (6,917) (45,799)
------- ------- -------- ------- ------- --------
Net loss...................... $(3,213) $(2,313) $(75,405) $(2,127) $(6,932) $(45,978)
======= ======= ======== ======= ======= ========
Loss per share:(3)
Basic and diluted loss per
share..................... $ $ $ $ $ $
Basic and diluted weighted
average shares............
======= ======= ======== ======= ======= ========
AS OF JUNE 30, 2000
-----------------------------------------
PRO FORMA
ACTUAL PRO FORMA(1) AS ADJUSTED(4)
------- ------------ --------------
CONSOLIDATED BALANCE SHEET DATA:
Cash and cash equivalents........................ $ 316 $ 429 $
Working capital.................................. 1,859 3,177
Total assets..................................... 39,694 151,132
Long-term debt, net of current portion........... 756 756
Parent company investment/Stockholders' equity... 34,237 144,523
---------------
(1) The pro forma selected statements of operations for the year ended December
31, 1999 and six months ended June 30, 2000 and pro forma balance sheet data
at June 30, 2000 were derived from the financial statements of Optical
Access, Jolt and AstroTerra included later in this prospectus. The Unaudited
Pro Forma Condensed Consolidated Balance Sheet assumes that the AstroTerra
acquisition took place on June 30, 2000 and consolidates our June 30, 2000
consolidated balance sheet with the balance sheet of AstroTerra. The
Unaudited Pro Forma Condensed Consolidated Statements of Operations assumes
that the Jolt and AstroTerra acquisitions occurred on January 1, 1999 and
2000 and consolidates our consolidated statements of operations for the year
ended December 31, 1999 and six months ended June 30, 2000 with the
statements of operations for those periods of Jolt and AstroTerra. See
"Unaudited Pro Forma Condensed Consolidated Financial Statements" included
herein.
(2) Includes amounts of deferred stock compensation relating to the acquisitions
of Jolt and AstroTerra of: $6.4 million, $553,000 and $4.0 million presented
in cost of sales; $13.8 million, $594,000 and $8.6
million presented in selling, general and administrative; $22.9 million,
$3.0 million and $14.3 million presented in research and development; for
the pro forma presentation of the year ended December 31, 1999, the six
months ended June 30, 2000 and the pro forma presentation of the six months
ended June 30, 2000, respectively.
(3) See note 2 of notes to consolidated financial statements for an explanation
of how the number of shares used in calculating this per share data was
determined.
(4) The as adjusted amounts give effect to the sale of shares of common stock in
this offering at an assumed initial public offering price of $ per
share, less estimated underwriting discounts and commissions, estimated
offering expenses and the application of the proceeds to working capital. |
