Optimal Robotics Corp.
Statement of Earnings
(unaudited)
(stated in United States dollars, unless otherwise noted)
Three months Nine months Three months Nine months
ended ended ended ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2000 2000 1999 1999
---- ---- ---- ----
Income Statement Data:
(Canadian GAAP)
Revenues $20,300,510 $48,427,768 $10,686,086 $22,799,610
Cost of Sales 15,119,822 36,091,248 8,127,717 18,007,577
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Gross Margin 5,180,688 12,336,520 2,558,369 4,792,033
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Research and
development,
net of tax credits 175,915 523,800 66,448 177,404
SGA and
other expenses 3,035,155 6,535,590 1,289,917 3,667,662
Amortization of
capital assets 262,162 664,522 101,135 222,487
Investment income (1,254,723) (2,801,770) (319,359) (549,284)
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2,218,509 4,922,142 1,138,141 3,518,269
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Earnings before
income taxes 2,962,179 7,414,378 1,420,228 1,273,764
Provision for
income taxes 1,133,626 2,837,246 ___ ___
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Net earnings
for the period $ 1,828,553 $ 4,577,132 $1,420,228 $1,273,764
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Weighted average
number of common
shares outstanding 13,677,286 12,894,858 10,784,114 9,212,360
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Basic net earnings
per common share $0.13 $0.35 $0.13 $0.14
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Fully diluted net
earnings per
common share $0.13 $0.34 $0.12 $0.14
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Tax adjusted net
earnings per common
share(1)
Basic $0.13 $0.35 $0.08 $0.09
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Fully diluted $0.13 $0.34 $0.07 $0.09
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(1) The 1999 earnings per common share have been adjusted to reflect
the impact of having applied the statutory corporate tax rates
Optimal Robotics Corp.
Balance Sheet
(stated in United States dollars, unless otherwise noted)
September 30, December 31,
2000 1999
---- ----
(unaudited) (audited)
Assets
Current assets
Cash and U.S. Treasury
bill, at cost $ 277,631 $ 4,499,084
Short-term investments 70,378,565 24,636,606
Accounts receivable 21,629,045 4,641,566
Systems in transit 756,000 ___
Inventory 13,164,456 3,363,943
Tax credits receivable 284,788 252,520
Future income taxes 2,212,799 3,012,997
Prepaid expenses 450,487 127,017
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Prepaid expenses 109,153,771 40,533,733
Loans receivable 137,383 155,643
Deferred share issue costs ___ 56,985
Future income taxes 1,805,138 2,112,028
Capital assets 2,416,139 1,347,903
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$113,512,431 $44,206,292
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Liabilities
Current liabilities
Accounts payable
and accrued liabilities $ 7,609,528 $ 3,659,189
Deferred revenue 1,140,266 592,271
Contract advance 250,000 250,000
-------------------------------------
8,999,794 4,501,460
-------------------------------------
Shareholders' Equity
Share capital 107,035,914 44,657,833
Other capital 9,684 20,559
Cumulative translation
adjustment (1,484,471) 652,062
Deficit (1,048,490) (5,625,622)
-------------------------------------
104,512,637 39,704,832
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$113,512,431 $44,206,292
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