here's from Edgar...
Three Months Ended March 31,
1998 1997
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Net sales $3,163,975 $2,268,198
Cost of sales 2,133,438 1,671,885
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Gross profit 1,030,537 596,313
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Operating expenses:
Engineering, research and development 219,437 193,897
Selling 337,836 327,223
Administration 385,434 353,708
Amortization 57,874 57,874
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Total operating expenses 1,000,581 932,702
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Operating profit (loss) 29,956 (336,389)
Other income (expense)
Interest expense, net 5,674 (19,253)
Other income, net _______ 613
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Net income (loss) $35,630 ($355,029)
Dividends on 8% Convertible (14,028) (19,888)
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Redeemable Preferred Stock
Net income (loss) available to common shares $21,602 $(374,917)
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Net income (loss) per common share-basic $0.003 $(0.09)
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Net income (loss) per common share-diluted $0.003 $(0.09)
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Weighted average common shares outstanding-basic 7,173,065 4,401,303
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Weighted average common shares outstanding-diluted 7,387,351 4,401,303
See notes to consolidated financial statements
ACRODYNE COMMUNICATIONS, INC.
CONSOLIDATED STATEMENT OF CASH FLOWS
Three Months Ended March 31,
1998 1997
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CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income (loss) $35,630 ($355,029)
Adjustments to reconcile net income to net cash used
in operating activities:
Depreciation and amortization 110,015 92,636
Stock option accrual 0 4,166
Changes in assets and liabilities:
Accounts receivable (232,662) 417,059
Inventories (76,468) (643,694)
Note receivable (1,504) (1,645)
Prepaids and deposits (91,164) (32,780)
Accounts payable (128,608) (375,154)
Accrued expenses (68,448) (100,673)
Customer advances (28,590) (8,044)
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Net cash used in operating activities (481,799) (1,003,158)
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CASH USED IN INVESTING ACTIVITIES:
Purchase of property, plant and equipment 0 (22,844)
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Net cash used in investing activities 0 (22,844)
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CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends on convertible preferred stock (14,028) (19,888)
Payments on promissory notes (67,500) (67,500)
Capital leases repayments (26,829) (25,430)
Repayments on other borrowings and
non-compete liability (2,577) (2,306)
-------
Net cash provided by financing activities (110,934) (115,124)
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Net decrease in cash and cash equivalents (592,733) (1,141,126)
Cash and cash equivalents at beginning of period 3,011,294 3,921,544
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Cash and cash equivalents at end of period $2,418,561 $2,780,418
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Supplemental cash flow information:
Cash paid for interest $29,482 $38,947
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