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Concord Communications, Inc.
Condensed Statements of Operations
(in thousands, except share data)
Three Months Ended Six Months Ended
June 30, June 30, June 30, June 30,
1999 1998 1999 1998
Revenues $15,061 $8,540 $28,590 $15,600
Cost of revenues 1,853 999 3,525 1,852
Gross profit 13,208 7,541 25,065 13,748
Operating expenses:
Research and development 2,469 1,712 4,626 3,215
Selling and marketing 6,310 3,938 11,907 7,446
General and administrative 796 594 1,598 1,167
Total operating expenses 9,575 6,244 18,131 11,828
Income (loss) from
operations 3,633 1,297 6,934 1,920
Other income, net 751 555 1,456 1,065
Net income before taxes $4,384 $1,852 $8,390 $2,985
Provision for Income Taxes 1,666 0 3,188 0
Net income after taxes $2,718 $1,852 $5,202 $2,985
Net income per common and
potential common share:
Diluted 0.19 0.13 0.36 0.21
Fully-taxed pro forma
diluted * 0.19 0.08 0.36 0.13
Diluted weighted average
common and potential common
shares outstanding 14,277,330 13,982,741 14,313,815 13,960,730
*assumed tax rate of 38%
Concord Communications, Inc.
Condensed Balance Sheets
(in thousands)
June 30, December 31,
1999 1998
Assets
Current Assets:
Cash, cash equivalents and
marketable securities $59,016 $50,402
Accounts receivable, net 7,116 5,049
Other current assets 607 510
Total current assets 66,739 55,961
Equipment and improvements, net 4,769 2,721
Total Assets $71,508 58,682
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable and accrued expenses $12,164 $7,641
Deferred revenue 6,489 5,296
Total Liabilities 18,653 12,937
Common stock, deferred compensation,
unrealized gain on marketable securities
and additional paid-in capital 69,759 67,852
Accumulated deficit (16,904) (22,107)
Total Stockholders' Equity 52,855 45,745
Total Liabilities, and Stockholders' Equity $71,508 $58,682
SOURCE: Concord Communications, Inc. |
