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TABLE - Syquest (NASDAQ:SYQT) Q3 results
Reuters, Tuesday, April 28, 1998 at 16:57
FREMONT, Calif., April 28 (Reuters) -
SYQUEST TECHNOLOGY, INC.
CONSOLIDATED CONDENSED STATEMENTS OF RESULTS OF OPERATIONS
(In thousands, except per share data)
Three Months Ended Six Months Ended
March 31, March 31,
1998 1997 1998 1997
Net revenues $ 47,028 $ 16,786 $ 79,089 $ 65,097
Cost of revenues 52,241 30,051 92,874 67,317
Gross loss (5,213) (13,265) (13,785) (2,220)
Operating Expenses:
Selling, general
and administrative 21,156 12,730 44,896 24,057
Research and
development 3,540 6,617 7,418 11,718
Total operating
expenses 24,696 19,348 52,314 35,775
Loss from
operations (29,909) (32,613) (66,099) (37,995)
Interest expense, net (674) (1,106) (1,299) (2,538)
Loss before income
taxes (30,583) (33,719) (67,398) (40,533)
Provision for
income taxes 873 -- 873 --
Net loss (31,456) (33,719) (68,271) (40,533)
Value assigned to
warrants issued in
connection with
preferred stock
offerings (2,100)
Preferred stock
dividend (251) (691) (331) (1,264)
Effect of incremental
yield embedded
in conversion terms (5,300)
Net loss applicable
to common
shareholders (31,707) (34,410) (70,702) (47,097)
Basic and diluted
loss per share (0.43) (1.31) (1.00) (2.30)
Weighted average
shares 72,973 26,206 70,982 20,466
Copyright 1998, Reuters News Service
Companies or Securities discussed in this article:
Symbol
Name
NASDAQ:SYQT
Syquest Technology Inc
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