SDL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data - unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
1997 1996 1997(A) 1996
Total revenue $ 23,951 $ 19,369 $ 66,537 $ 61,397
Cost of revenue 16,325 14,499 48,676 41,004
Gross margin 7,626 4,870 17,861 20,393
Operating expenses:
Research and development 2,340 1,560 7,649 4,605
Selling, general and
administrative 2,799 2,768 36,874 8,240
Amortization of purchased
intangibles 163 161 487 484
Total operating expenses 5,302 4,489 45,010 13,329
Operating income (loss) 2,324 381 (27,149) 7,064
Interest (income), net (266) (570) (1,003) (839)
Income (loss) before
income taxes 2,590 951 (26,146) 7,903
Provision for income taxes 139 8 367 2,372
Net income (loss) $ 2,451 $ 943 $ (26,513) $ 5,531
Net income (loss)
per share $ 0.17 $ 0.07 $ (1.97) $ 0.43
Shares used in computing
net income per share 14,431 14,142 13,449 12,866
(A) Includes one-time charges totaling $30,911.
SDL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
September 30, December 31,
1997 1996
(unaudited)
Assets
Current assets:
Cash, cash equivalents and
short-term investments $ 13,847 $ 47,958
Accounts receivable. net 20,185 11,816
Inventory 12,635 13,441
Other current assets 2,864 3,902
Total current assets 49,531 77,117
Property and equipment, net 25,686 22,020
Long-term investments 11,726 10,325
Other assets (includes purchased
intangibles) 4,276 4,380
$91,219 $113,842
Liabilities and stockholders' equity
Current liabilities:
Accounts payable $ 7,921 $ 6,777
Accrued liabilities 8,078 4,385
Acquisition obligations -- 2,712
Total current liabilities 15,999 13,874
Other long-term liabilities 1,026 741
Stockholders' equity 74,194 99,227
$91,219 $113,842
SOURCE SDL, Inc. |
