Anyone have a prediction as to how these earnings will be perceived and interpreted?
NETMANAGE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
THREE MONTHS ENDED
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MARCH 31, MARCH 31,
1999 1998
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(IN THOUSANDS)
(UNAUDITED)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)......................................... $(1,036) $ 531
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation and amortization.......................... 3,013 1,741
Provision for doubtful accounts and returns............ 118 68
Equity in income of unconsolidated affiliate........... -- (449)
Changes in assets and liabilities, net of business
combinations:
Accounts receivable.................................. 4,572 417
Prepaid expenses and other assets.................... 45 1,997
Accounts payable..................................... (131) 423
Accrued liabilities, payroll and payroll-related
expenses............................................ (4,618) (3,059)
Deferred revenue..................................... (88) (188)
Income taxes payable................................. (125) 153
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Net cash provided by operating activities......... 1,750 1,634
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CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of short-term investments....................... (22,733) (5,746)
Proceeds from maturity of short-term investments.......... 16,280 1,900
Purchases of long-term investments........................ (11,657) (2,134)
Proceeds from maturity of long-term investments........... 4,998 6,451
Purchases of property and equipment....................... (118) (287)
Purchases of technology and other intangible assets....... -- (90)
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Net cash provided by (used in) investing
activities...................................... (13,230) 94
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CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock, net of issuance
costs.................................................. 15 492
Purchase of treasury stock................................ (4,398) --
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Net cash provided by (used in) financing
activities...................................... (4,383) 492
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EFFECT OF EXCHANGE RATE CHANGES ON CASH..................... (44) 165
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NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS........ (15,907) 2,385
CASH AND CASH EQUIVALENTS, beginning of period.............. 43,104 12,706
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CASH AND CASH EQUIVALENTS, end of period.................... $27,197 $15,091
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