Lonnie beat me to it.....!!!
You should be able to find this in his/her link too.
Here is the link I used:
edgar-online.com
Rarely, Rareness, Raremeat??
C-CUBE MICROSYSTEMS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Nine Months Ended September 30,
-------------------------------
1997 1996
---- ----
Cash flows from operating activities:
Net income (loss) $ 32,742 $(90,330)
Adjustments to reconcile net income to net
cash provided by (used in) operating activities:
Minority interest in subsidiary (123) 681
Depreciation and amortization 12,343 5,040
Purchased in-process technology -- 131,349
Deferred income taxes 2,766 (10,739)
Changes in assets and liabilities:
Receivables (4,441) (15,763)
Inventories 1,119 (10,573)
Production capacity rights -- (24,500)
Other current assets 11,576 (1,356)
Accounts payable (2,895) (6,692)
Accrued liabilities 6,011 16,850
Income taxes payable 3,373 5,850
-------- --------
Net cash provided by (used in) operating
activities 62,471 (183)
-------- --------
Cash flows from investing activities:
Sales and maturities of short-term investments 12,050 38,301
Purchases of short-term investments (10,827) (48,297)
Capital expenditures (10,951) (12,507)
Acquisition of business -- (58,568)
Other assets 98 375
-------- --------
Net cash used in investing activities (9,630) (80,696)
-------- --------
Cash flows from financing activities:
Notes payable -- net -- (1,866)
Repayments of capital lease obligations (460) (499)
Sale of common stock, net of notes receivable 8,090 4,317
Collection of stockholder notes receivable 305 91
-------- --------
Net cash provided by financing activities 7,935 2,043
-------- --------
Exchange rate impact on cash and equivalents (106) (122)
-------- --------
Net increase (decrease) in cash and equivalents 60,670 (78,958)
Cash and equivalents, beginning of period 76,241 133,414
-------- --------
Cash and equivalents, end of period $136,911 $ 54,456
======== ========
Supplemental schedule of noncash investingand financing activities:
Unrealized gain (loss) on investments $ 13 $ (13)
Purchase of production capacity rights for
note payable -- (24,500)
Forgiveness of note payable for production
capacity rights 24,500 --
Supplemental disclosure of cash flow information --
Cash paid during the period for:
Interest $ 2,914 $ 3,173
Income taxes 5,169 19,595
See notes to condensed consolidated financial statements.
C-CUBE MICROSYSTEMS INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)1. Basis of presentation
The unaudited condensed consolidated financial statements contained in
this report have been prepared by C-Cube Microsystems Inc. ("C-Cube" or
the "Company"). In the opinion of management, such financial statements
include all normal recurring adjustments and accruals necessary for a
fair presentation of the Company's financial position as of
September 30, 1997, and the results of operations for the quarters and
nine months ended September 30, 1997 and 1996 and cash flows for the
nine months ended September 30, 1997 and 1996. Certain information and
footnote disclosures normally included in financial statements prepared
in accordance with generally accepted accounting principles have been
condensed or omitted in accordance with the rules and regulations of the
Securities and Exchange Commission. This unaudited quarterly information
should be read in conjunction with the audited consolidated financial
statements of C-Cube and the notes thereto included in the Company's
Annual Report to Stockholders for the year ended December 31, 1996.
The fluctuations in revenues and operating income experienced by the
Company in recent quarters are not necessarily indicative of future
results. In addition, in view of the significant growth in recent years,
C-Cube believes that period-to-period comparisons of its financial
results should not be relied upon as an indication of future performance.
2. Inventories
Inventories are stated at the lower of cost or market. Cost is based on
standard costs which approximate actual cost on a first-in, first-out
basis. Inventories consist of:
September 30, December 31,
1997 1996
------- -------
(in thousands)
Finished goods $11,994 $22,817
Work-in-process 9,770 2,898
Raw materials 5,148 2,341
------- -------
Total $26,912 $28,056
======= =======
3. Recently Issued Accounting Standards |
