Optimal Robotics Corp.
Statement of Operations
(stated in United States dollars, unless otherwise noted)
Three months Three months
ended ended
Mar. 31, Mar. 31
2000 1999
Income Statement Data:
(Canadian GAAP)
Revenues $ 12,004,159 $ 5,090,265
Cost of Sales 9,014,103 4,344,011
Gross Margin 2,990,056 746,254
Research and development,
net of tax credits 110,079 60,072
Selling, general, administrative
and other expenses 1,900,145 1,101,998
Operating lease expense 81,477 49,098
Amortization of capital assets 139,379 49,419
Investment income (363,325) (29,213)
Foreign exchange (gain) loss (13,258) 89,706
1,854,497 1,321,080
Earnings (loss) before income taxes 1,135,559 (574,826)
Provision for income taxes 434,341 --
Net earnings (loss) for the period $ 701,218 $ (574,826)
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Basic weighted average number of common
shares outstanding 11,455,270 7,525,142
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Basic and fully diluted net earnings
(loss) per common share $ 0.06 $ (0.08)
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Optimal Robotics Corp.
Consolidated Balance Sheet
(stated in United States dollars, unless otherwise noted)
Mar. 31, Dec. 31,
2000 1999
(unaudited)
Assets
Current assets
Cash $ 313,936 $ 3,934,243
U.S. Treasury bill, at cost 569,232 564,841
Short-term investments 23,887,064 24,636,606
Accounts receivable, net of
allowance for doubtful
accounts of nil 11,027,921 4,641,566
Inventory 4,565,942 3,363,943
Tax credits receivable 307,946 252,520
Future income taxes 2,608,075 3,012,997
Prepaid expenses 223,076 127,017
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43,503,192 40,533,733
Loans receivable 155,077 155,643
Deferred share issue costs 3,500,780 56,985
Future income taxes 2,104,337 2,112,028
Capital assets 1,787,904 1,347,903
$ 51,051,290 $ 44,206,292
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Liabilities
Current liabilities
Advance from broker $ 2,835,629 $ --
Accounts payable and
accrued liabilities 6,793,705 3,659,189
Deferred revenue 769,314 592,271
Contract advance 250,000 250,000
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10,648,648 4,501,460
Shareholders' Equity
Share capital 44,803,095 44,657,833
Other capital 17,734 20,559
Cumulative translation adjustment 506,217 652,062
Deficit (4,924,404) (5,625,622)
---------------- ----------------
40,402,642 39,704,832
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$ 51,051,290 $ 44,206,292
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