Optimal Robotics Corp. (Part 2 of 2)
Statement of Operations
(stated in United States dollars, unless otherwise noted)
Three months Three months
2001 2000
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Income Statement Data:
(Canadian GAAP)
Revenues $ 19,607,998 $ 12,004,159
Cost of Sales 12,271,007 9,014,103
Gross Margin 7,336,991 2,990,056
Research and development,
net of tax credits 330,004 110,079
Selling, general, administrative
and other expenses 3,417,893 1,886,887
Operating lease expense 206,352 81,477
Amortization of capital assets 297,675 139,379
Investment income (1,056,511) (363,325)
3,195,413 1,854,497
Earnings before income taxes 4,141,578 1,135,559
Provision for future income taxes 1,622,140 434,341
Net earnings for the period $ 2,519,438 $ 701,218
Weighted average number of common
shares outstanding
Basic 13,807,141 11,455,270
Addition to reflect the
impact of dilutive potential
common shares
using the treasury stock
method 1,277,064 1,114,286
15,084,205 12,569,556
Net earnings per common share
Basic $ 0.18 $ 0.06
Diluted $ 0.17 $ 0.06
Optimal Robotics Corp.
Interim Consolidated Balance Sheet
(stated in United States dollars, unless otherwise noted)
March 31, December 31,
2001 2000
(unaudited)
Assets
Current assets
Cash $ 9,973,018 $ 5,006,982
Short-term investments 65,927,691 71,141,910
Accounts receivable
Other 897,732 2,197,525
Inventories 19,636,789 16,725,885
Tax credits receivable 279,682 323,788
Future income taxes 790,472 2,420,718
Prepaid expenses 825,595 327,039
115,869,012 106,431,339
Loans receivable 125,934 125,934
Future income taxes 1,462,227 1,462,227
Capital assets 3,761,426 3,253,148
$ 121,218,599 $ 111,272,648
Liabilities
Current liabilities
Accounts payable and accrued
liabilities $ 9,453,223 $ 6,492,371
Deferred revenue 2,764,378 34,695
12,217,601 6,527,066
Shareholders' Equity
Share capital 108,791,294 107,050,914
Other capital 5,282 9,684
Cumulative translation adjustment (1,484,471) (1,484,471)
Retained earnings (deficit) 1,688,893 (830,545)
109,000,998 104,745,582
$ 121,218,599 $ 111,272,648 |
