Optimal Robotics Corp.
Statement of Operations
(unaudited)
(stated in United States dollars, unless otherwise noted)
Three months Six months Three months Six months
ended June 30, ended June 30, ended June 30, ended June 30,
2000 2000 1999 1999
---- ---- ---- ----
(restated) (restated)
Income Statement Data:
(Canadian GAAP)
Revenues $16,123,099 $28,127,258 $ 7,023,259 $12,113,524
Cost of Sales 11,957,323 20,971,426 5,535,849 9,879,860
---------------------------------------------------------
Gross Margin 4,165,776 7,155,832 1,487,410 2,233,664
---------------------------------------------------------
Research and development,
net of tax
credits 237,806 347,885 50,884 110,956
Selling, general and
administrative
expenses 2,525,856 4,494,220 1,136,943 2,377,745
Amortization of
capital assets 262,981 402,360 71,933 121,352
Investment
income (1,183,722) (1,547,047) (200,712) (229,925)
---------------------------------------------------------
1,842,921 3,697,418 1,059,048 2,380,128
---------------------------------------------------------
Earnings (loss) before the
following 2,322,855 3,458,414 428,362 (146,464)
Foreign exchange
gains 993,785 993,785 -- --
---------------------------------------------------------
Earnings (loss) before
income taxes 3,316,640 4,452,199 428,362 (146,464)
Provision for
income taxes 1,269,279 1,703,620 -- --
---------------------------------------------------------
Net earnings (loss)
for the
period $ 2,047,361 $ 2,748,579 $ 428,362 $ (146,464)
---------------------------------------------------------
Weighted average number of
common shares
outstanding 13,567,536 12,511,392 9,292,011 8,413,457
---------------------------------------------------------
Net earnings (loss)
per common share -
Basic and fully
diluted $ 0.15 $ 0.22 $ 0.05 $ (0.02)
---------------------------------------------------------
Optimal Robotics Corp.
Balance Sheet
(stated in United States dollars, unless otherwise noted)
June 30, December 31,
2000 1999
---- ----
(unaudited) (audited)
(restated)
Assets
Current assets
Cash and U.S. Treasury bill,
at cost $ 1,174,399 $ 4,499,084
Short-term investments 74,835,022 24,636,606
Accounts receivable 15,108,993 4,641,566
Inventory 12,668,932 3,363,943
Tax credits receivable 266,788 252,520
Future income taxes 3,320,426 3,012,997
Prepaid expenses 278,010 127,017
----------------- -----------------
107,652,570 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 1,967,616 1,347,903
----------------- -----------------
$111,562,707 $44,206,292
----------------- -----------------
Liabilities
Current liabilities
Accounts payable and
accrued liabilities $ 7,291,090 $ 3,659,189
Deferred revenue 1,527,693 592,271
Contract advance 250,000 250,000
----------------- -----------------
9,068,783 4,501,460
----------------- -----------------
Shareholders' Equity
Share capital 106,840,472 44,657,833
Other capital 14,966 20,559
Cumulative translation
adjustment (1,484,471) 652,062
Deficit (2,877,043) (5,625,622)
----------------- -----------------
102,493,924 39,704,832
----------------- -----------------
$111,562,707 $44,206,292
----------------- ----------------- |
