Consolidated Statements of Operations
(in thousands, except per share data)
(Unaudited)
Three months ended Nine months ended
September 30, September 30,
1999 1998 1999 1998
Revenues $ 3,054 $ 346 $ 5,109 $ 845
Cost of revenues 1,687 10 2,067 45
Gross profit 1,367 336 3,042 800
Operating expenses:
Marketing and sales 3,491 210 5,803 1,423
Research,
development &
engineering 1,053 996 2,842 3,893
General &
administrative 2,008 551 4,994 2,782
Restructuring
charge -- -- 1,025 812
Total operating expenses 6,552 1,757 14,664 8,910
EBITDA (5,185) (1,421) (11,622) (8,110)
Amortization of
Goodwill 8,362 -- 14,595 --
Depreciation 311 305 893 1,145
Loss from operations (13,858) (1,726) (27,110) (9,255)
Interest income, net 109 69 205 60
Net loss (13,749) (1,657) (26,905) (9,195)
Preferred stock dividend -- -- -- (153)
Net loss applicable
to common shares $(13,749) $ (1,657) $(26,905) $ (9,348)
Net loss per share,
basic and diluted $(0.29) $(0.05) $(0.61) $(0.52)
Shares used in per
share computation,
basic and
diluted 47,355,875 31,744,216 43,995,120 18,125,810
MessageMedia, Inc.
Consolidated Balance Sheets
(in thousands)
September 30,1999 December 31, 1999
(unaudited)
Assets
Current assets:
Cash and cash
equivalents $ 7,405 $ 4,659
Accounts receivable, net 3,306 681
Prepaid expenses
and other 509 430
Total current assets 11,220 5,770
Furniture equipment
and software, net 2,551 1,476
Patent and other
costs, net 23 51
Intangibles assets, net 88,133 23,895
Deposits and other 182 29
Total assets $102,109 $ 31,221
Liabilities and stockholders' equity
Current liabilities:
Accounts payable $ 2,319 $ 1,383
Accrued compensation
and related liabilities 1,460 148
Accrued interest -- 15
Deferred revenue 537 36
Current portion, debt
obligations 27 504
Accrued acquisition costs 1,188 --
Other accrued liabilities 971 584
Total current liabilities 6,502 2,670
Debt obligations 41 67
Total stockholders' equity 95,566 28,484
Total liabilities and
stockholders' equity $102,109 $ 31,221
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Contact:
MessageMedia Inc.
Tork Johnson, 303/381-7500 (investors)
mailto:tork@messagemedia.com
or
The Ruth Group, Inc.
Stefanie King, 917/639-4110 (media)
mailto:slking@theruthgroup.com
or
MessageMedia Inc.
Beth Mayfield, 303/381-7500 (investors)
mailto:investor@messagemedia.com
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