It's been a long time. I haven't been able to understand how someone
could look at the statement of operations, imagine it without the DGI
drain, and not consider this a $15 stock. I know that you've already
done this, but others should look at this and (1) take out DGI, and
(2) correct for the restructure expense. Given that it's going to be a
big growth business for some time to come, maybe it will start to
attract attention.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per-share amounts)
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
2001 2000 2001 2000
Net sales $14,799 $12,007 $29,499 $22,548
Operating costs and expenses:
Cost of sales 8,703 7,159 17,585 13,178
Selling, general and
administrative
expenses 4,069 4,019 8,169 8,028
Research, development
and engineering
expenses 735 935 1,448 1,858
DGI research expenses 594 942 1,312 1,795
Non-recurring
severance costs 260 0 260 0
Total operating
costs and
expenses 14,361 13,055 28,774 24,859
Income (loss) from
operations 438 (1,048) 725 (2,311)
Other income (expense):
Interest income 15 9) 33 21
Interest expense (144) (153) (296) (302)
Other, net (19) (22) (47) (29)
Writedown of investment 0 (800) 0 (800)
(148) (966) (310) (1,110)
Income (loss) before
income tax expense
(benefit) and equity
in operations of DGI 290 (2,014) 415 (3,421)
Income tax (benefit) 62 (64) 73 (93)
Income (loss) before
equity in operations
of DGI 228 (1,950) 342 3,328
Equity in operations
of DGI (90) 0 (90) 0
Net income (loss) $138 $(1,950) $252 $ (3,328)
Basic earnings (loss)
per share $.02 $(.29) $.04 $(.50)
Diluted earnings (loss)
per share $.02 $(.29) $.04 $(.50)
Basic weighted average
number of shares
outstanding 6,731 6,659 6,729 6,592
Diluted weighted
average number of
shares outstanding 6,753 6,659 6,746 6,592 |
