Today's Balance sheet, part II: the numbers.
BOCA RESEARCH, INC.
Consolidated Balance Sheets
(In thousands)
(audited)
Dec. 31 Dec. 31
1996 1995
Assets
Current assets:
Cash and cash equivalents $ 7,826 $ 477
Trade receivables, net 27,167 22,871
Inventory, net 18,381 22,457
Prepaid expenses and
other current assets 890 890
Prepaid and deferred
income taxes 3,888 2,230
Total current assets 58,152 48,925
Property and equipment, net 7,052 7,722
Deferred income taxes,
noncurrent 275 242
Goodwill, net --- 166
Other assets 587 623
Total assets $66,066 $57,678
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 7,314 $ 5,837
Accrued expenses and other
current liabilities 3,590 4,628
Income taxes payable --- 607
Total current
liabilities 10,904 11,072
Stockholders' Equity
Common stock, par value $.01 87 85
Additional paid-in capital 25,574 23,470
Retained earnings 29,501 23,051
Total stockholders'
equity 55,162 46,606
Total liabilities
and stockholders'
equity $66,066 $57,678
BOCA RESEARCH, INC.
Consolidated Income Statement
(In thousands except share and per share data)
>1] Three Months Year
Ended Dec. 31 Ended Dec. 31
1996 1995 1996 1995
(audited)
Net sales $28,961 $45,223 $153,524 $143,038
Cost of goods sold 23,685 35,089 122,855 107,486
Gross profit 5,276 10,134 30,669 35,552
Operating expenses:
Research and development 851 593 3,073 2,679
Selling, general and
administrative 4,917 5,052 18,551 18,469
Total operating
expenses 5,768 5,645 21,624 21,148
Income (loss) from
operations (492) 4,489 9,045 14,404
Non-operating income 156 121 596 540
Income (loss) before
income taxes (336) 4,610 9,641 14,944
Income tax provision
(benefit) (401) 1,676 3,191 5,402
Net income $ 65 $2,934 $6,450 $9,542
Primary earnings per
share $0.01 $0.32 $0.72 $1.07
Shares used in primary per
share calculation 8,761 9,060 8,941 8,921
Fully-diluted earnings
per share $0.01 $0.32 $0.72 $1.06
Shares used in fully-diluted
per share calculation 8,761 9,081 8,941 9,040
CONTACT: Boca Research Inc., Boca Raton
Gale Blackburn
Director of Corporate Communications
561/997-6227 ext. 305 voice
bocaresearch.com
or
Morgen-Walke Associates Inc.
Michele Katz or Jessica Davis
Press: Lee Foley
212/850-5600 |
