Cmtn under pressure now ah... table below
Copper Mountain Networks, Inc.
Condensed Statements of Operations
(in thousands, except per share amounts)
Three Months Ended Year Ended
December 31, December 31,
--------------------- -------------------
2000 1999 2000 1999
---------- --------- --------- --------
Net revenue $47,045 $44,601 $281,576 $112,723
Cost of revenue 21,865 20,786 130,128 53,002
Charge related to excess
inventory on hand and
on order 35,000 - 35,000 -
--------- --------- -------- ---------
Gross margin (9,820) 23,815 116,448 59,721
Operating expenses:
Research and development 11,956 5,620 37,494 15,523
Sales and marketing 9,868 6,079 34,868 16,158
General and administrative 10,888 2,160 21,823 5,998
Amortization of
purchased intangibles 5,326 - 17,753 -
Amortization of deferred
stock compensation 657 945 3,664 5,431
Write-off of in-process
research and development - - 6,300 -
--------- --------- -------- ---------
Total operating expenses 38,695 14,804 121,902 43,110
--------- --------- -------- ---------
Income (loss)
from operations (48,515) 9,011 (5,454) 16,611
Other income, net 2,526 1,607 9,007 4,096
--------- --------- -------- ---------
Income (loss) before
income taxes (45,989) 10,618 3,553 20,707
Provision (benefit)
for income taxes (11,603) 4,354 1,860 8,490
--------- --------- -------- ---------
Net income (loss) $(34,386) $ 6,264 $ 1,693 $ 12,217
========= ========= ======== =========
Basic net income
(loss) per share $ (0.66) $ 0.13 $ 0.03 $ 0.39
Basic common stock
equivalents 51,900 46,918 50,584 31,289
Diluted net income
(loss) per share $ (0.66) $ 0.11 $ 0.03 $ 0.23
Diluted common
stock equivalents 51,900 56,453 58,217 52,282
Condensed Balance Sheets
(in thousands)
Dec. 31 Dec. 31
Assets 2000 1999
------------ -------------
Current assets:
Cash and S-T Investments $ 162,616 $ 117,169
Accounts receivable 19,496 18,992
Inventory 26,405 12,801
Other current assets 7,961 1,530
------------ -------------
Total current assets 216,478 150,492
Property and equip, net 24,961 8,825
Other assets 17,287 6,458
Purchased intangibles 46,159 -
------------ -------------
$ 304,885 $ 165,775
============ =============
Liabilities and Dec. 31 Dec. 31
Stockholders' Equity 2000 1999
------------- -------------
Current Liabilities:
Accounts payable $ 23,963 $ 7,887
Accrued liabilities 45,951 8,800
Current notes payable 3,177 1,618
------------- -------------
Total current liabilities 73,091 18,305
Notes payable 6,654 4,044
Other liabilities 314 105
Total stockholders' equity 224,826 143,321
------------- -------------
$304,885 $165,775
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