Haim, It is if this one is worth 11 billion...SONUS NETWORKS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)
June 30, 2000 December 31, 1999
(unaudited)
ASSETS
Current Assets:
Cash and cash equivalents $142,987 $8,885
Marketable securities 12,714 14,681
Accounts receivable, net 2,444 -
Inventories 7,704 2,210
Other current assets 761 298
Total Current Assets 166,610 26,074
Property and Equipment, net 7,794 4,269
7,794 4,269
Other Assets, net 696 439
696 439
$175,100 $ 30,782
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current Liabilities
Current portion of
long-term obligations $ - $1,336
Accounts payable 5,895 1,412
Accrued expenses 8,391 2,691
Deferred revenues 5,091 1,031
Total Current Liabilities 19,377 6,470
Long-term Obligations, less current portion - 3,402
Redeemable Convertible Preferred Stock - 46,109
Stockholders' Equity (Deficit):
Common stock 61 22
Capital in excess of par value 260,872 25,611
Accumulated deficit (65,311) (33,882)
Stock subscriptions receivable (346) (346)
Deferred compensation (39,488) (16,604)
Treasury stock, at cost (65) -
Total Stockholders'
Equity (Deficit) 155,723 (25,199)
$175,100 $ 30,782
SONUS NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
(UNAUDITED)
Three Months Ended Six Months Ended
June 30, June 30,
2000 1999 2000 1999
Revenues $ 6,511 $ -- $ 7,604 $ --
Manufacturing and
Product Costs 4,555 349 6,017 572
Gross Profit (Loss) 1,956 (349) 1,587 (572)
Operating Expenses:
Research and development 6,355 2,387 11,199 5,071
Sales and marketing 4,381 834 7,739 1,272
General and administrative 1,277 375 1,990 676
Stock-based compensation 6,386 564 13,365 1,081
Total operating expenses 18,399 4,160 34,293 8,100
Loss from Operations (16,443) (4,509) (32,706) (8,672)
Interest income, net 1,089 92 1,317 212
Net Loss ($15,354) ($ 4,417) ($31,389) ($ 8,460)
Net Loss Per Share:
Basic and Diluted ($ 0.72) ($ 1.04) ($ 2.15) ($ 2.25)
Shares Used in Computation 21,426 4,234 14,585 3,759
Pro Forma Net Loss Per Share (1):
Basic and Diluted ($ 0.36) ($ 0.15) ($ 0.77) ($ 0.29)
Basic and Diluted, ($ 0.21) ($ 0.13) ($ 0.44) ($ 0.25)
Excluding Stock-based
Compensation
Shares Used in Computation 43,091 30,120 41,006 29,621 |
