Optimal Robotics Corp. (Part 2 of 2)
Statement of Operations
(unaudited)
(stated in United States dollars, unless otherwise noted)
Three months Six months Three months Six months
ended ended ended ended
June 30, June 30, June 30, June 30,
2001 2001 2000 2000
---- ---- ---- ----
Income Statement Data:
(Canadian GAAP)
Revenues $31,084,738 $50,692,736 $16,123,099 $28,127,258
Cost of Sales 19,334,127 31,605,134 11,957,323 20,971,426
Gross Margin 11,750,611 19,087,602 4,165,776 7,155,832
Selling, general
and administrative
expenses 4,506,676 7,819,200 2,444,379 4,300,605
Research and development
expenses 427,568 757,572 237,806 347,885
Operating lease
expense 277,897 484,249 81,477 193,615
Amortization 368,523 666,198 262,981 402,360
Investment income (808,914) (1,865,425) (1,183,722) (1,547,047)
Foreign exchange 38,892 144,261 (993,785) (993,785)
4,810,642 8,006,055 849,136 2,703,633
Earnings before income
taxes 6,939,969 11,081,547 3,316,640 4,452,199
Provision for income
taxes 2,692,088 4,314,228 1,269,279 1,703,620
Net earnings for
the period $ 4,247,881 6,767,319 $ 2,047,361 $ 2,748,579
Weighted average number of
common shares outstanding
Basic 14,247,188 14,028,380 13,567,536 12,511,532
Add effect
of dilution
using treasury
stock method 972,425 1,097,361 1,355,163 1,582,182
Fully diluted 15,219,613 15,125,741 14,922,699 14,093,714
Net earnings per common share
Basic $ 0.30 $ 0.48 $ 0.15 $ 0.22
Diluted $ 0.28 $ 0.45 $ 0.14 $ 0.20
Optimal Robotics Corp.
Interim Consolidated Balance Sheet
(stated in United States dollars, unless otherwise noted)
June 30 December 31,
2001 2000
(unaudited)
Assets
Current assets
Cash $ 5,127,186 $ 5,006,982
Short-term investments 66,697,764 71,141,910
Accounts receivable
Trade, net of allowance for
doubtful accounts of $330,000
(nil at December 31, 2000) 29,143,154 8,287,492
Other 624,588 2,197,525
Inventories 21,327,841 16,725,885
Tax credits receivable 354,682 323,788
Future income taxes 271,275 2,420,718
Prepaid expenses and deposits 915,684 327,039
124,462,174 106,431,339
Loans receivable 125,934 125,934
Capital assets 4,729,085 3,253,148
Goodwill 2,409,713 ___
Future income taxes 1,322,328 1,462,227
$ 133,049,234 $ 111,272,648
Liabilities and Shareholders' Equity
Current liabilities
Accounts payable and accrued
liabilities $ 12,856,034 $ 6,492,371
Income taxes payable 2,032,994 ___
Deferred revenue 3,176,044 34,695
18,065,072 6,527,066
Shareholders' Equity
Share capital 110,526,577 107,050,914
Other capital 5,282 9,684
Retained earnings (deficit) 5,936,774 (830,545)
Cumulative translation adjustment (1,484,471) (1,484,471)
114,984,162 104,745,582
$ 133,049,234 $ 111,272,648 |
