RIVERSTONE NETWORKS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts, unaudited)
Three months ended
---------------------
May 31, June 1,
2003 2002
---------- ----------
NET REVENUES $12,688 $30,100
Cost of revenues 8,285 14,956
GROSS MARGIN 4,403 15,144
Operating expenses:
Research and development 13,109 12,502
Sales and marketing 9,548 13,564
General and administrative 3,370 5,605
Restructuring expenses (69)
Total operating expenses 25,958 31,671
OPERATING LOSS (21,555) (16,527)
Interest income and other income, net 1,361 3,020
Interest expense (1,491) (2,062)
Loss on investments (98) -
Gain on repurchase of convertible notes, net 2,853 -
NET LOSS BEFORE TAXES (18,930) (15,569)
Income tax provision 139 380
NET LOSS (19,069) (15,949)
Net loss per share - basic and diluted $(0.15) $(0.13)
Shares used in per-share calculation - Basic and
diluted 126,571 122,580 |
