My guess as to 4th quarter results:
Third quarter figures are from the 10Q.
ASSUMPTIONS:
- 25% decrease in sales,
- two milestone payments of $2mm each occurred in the 4th quarter,
- cost of goods sold retains the same gross margin,
- most costs of moving to new facility are capitalized i.e. will show on the balance sheet, not as increased operating expenses
- G&A increase from move and initial marketing campaign of 1.9 million
- interest income, and tax rates are the same,
(all numbers in thousands except per share income)
....................................THREE MONTHS ENDED
..........................SEPTEMBER 30, 1997.........DECEMBER 31,1997
Net Product Sales............$39,118.................$29,338
Milestone Revenue..................0..........................4,000
....................................---------....................---------
Net Revenues..................39,118.......................33,338
Cost of Goods sold... .....11,270........................8,452
....................................---------....................---------
Gross Margin..................27,848.......................24,886
Operating expenses:
Research and development..3,947........................3,947
Selling, general and
administrative...................11,507.......................13,407
.......................................---------....................---------
Total operating expenses..15,454.......................17,354
Income (loss) from operations....12,394......................7,532
Interest and other income...........1,106........................1,106
............................................---------.........................---------
Income (loss) before taxes.....13,500..................... ..8,638
Income taxes..........................2,241........................1,434
............................................---------....................---------
Net income (loss)...................11,259.......................$7,204
.............................................=======...................======
Net income (loss) per common
and equivalent share...............$ 0.31......................$ 0.20
Shares used in the computation
of net income (loss) per share.35,772......................35,772
This would give a 1997 year total of $1.06 per share
Zebra |
