cmg,
" The Company's cash and cash equivalents, restricted cash, and investments totaled $3.7 million at March 31,1999. Working capital decreased from approximately $5.6 million at December 31, 1998 to approximately $3.4 million at March 31, 1999. Cash and Cash equivalents increased from $825,000 at December 31, 1998 to $940,000 at March 31, 1999. The decrease in working capital, partly offset by an increase in cash and cash equivalents, was due primarily to decreased holdings of short-term investments; payments made as a result of the acquisition of Unicore; pre-paid royalty payments to Phoenix; the addition of acquisition-related expenses and accrued restructuring liabilities; and the net loss incurred by the Company in the quarter ended March 31, 1999. "
DC |
