Here's a comparison of the balance sheets for the last two quarters.
My overall opinion is that they have expenses under control and
are cash flow positive. Hopefully they will get sales in gear soon.
Since this stock didn't exactly run-up before earnings (or did it?)
how far can it possibly drop?
Three Months Ended
--------
Mar-28 Dec-27
1998 1997
------ ------
(In thousands,
except per
share data)
Net Sales $ 8,004 $ 10,039
Cost of sales 4,383 5,537
-------- --------
Gross profit 3,621 4,502
-------- --------
Operating expenses:
Research and
development 1,205 1,219
Selling,
general
and administrative 2,164 2,524
-------- --------
Total operating
expenses 3,369 3,743
-------- --------
Income (loss)
from operations 252 759
Interest and other
income (expense),
net 1 2
-------- --------
Income (loss) before
provision for
income taxes 253 732
Provision for
income taxes 8 22
-------- --------
Income (loss) before
cumulative effect of
change in accounting
principle 245 710
Cumulative effect of
change in accounting
principle 0 0
-------- --------
Net income (loss) $ 245 $ 710
======== ========
Basic Earnings
per Share:
Income (loss)
before cumulative
effect of change
in accounting
principle $ 0.02 $ 0.06
Net income (loss) $ 0.02 $ 0.06
Diluted Earnings
per Share:
Income (loss)
before cumulative
effect of change
in accounting
principle $ 0.02 $ 0.05
Net income (loss) $ 0.02 $ 0.05
Weighted average
common shares
and equivalents:
Basic 12,944 12,832
Diluted 13,225 13,788
Truevision
Consolidated Balance Sheets
(Unaudited)
March 28 Dec. 27
1998 1997
---------------- -------------
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents $6,087 $4,032
Accounts receivable, net 2,876 4,156
Inventory 5,452 3,995
Prepaid expenses
and other assets 1,220 1,965
---------------- -------------
Total current assets 15,635 14,148
Property and equipment, net 1,936 2,125
Other assets 131 147
---------------- -------------
Total assets $17,702 $16,420
================ =============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Line of credit $ 0 $ 0
Accounts payable 3,410 2,095
Accrued employee compensation 1,497 1,523
Accrued and other liabilities 3,026 3,543
---------------- -------------
Total current liabilities 7,933 7,161
Long-term obligations 53 63
---------------- -------------
Total liabilities 7,986 7,224
---------------- -------------
Total stockholders' equity 9,716 9,196
---------------- -------------
Total liabilities and
stockholders' equity $17,702 $16,420
================ ============= |
