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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Curbstone who wrote (8247)	10/15/1998 4:34:00 PM
From: Simon Cardinale	Respond to of 16960

the numbers: 3DFX INTERACTIVE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) September 30, December 31, 1998 1997 Assets: Cash and cash equivalents $81,148 $28,937 Short-term investments 13,623 5,984 Accounts receivable, net 26,561 13,387 Inventory 25,471 3,845 Other current assets 3,237 2,400 Total current assets 150,040 54,553 Property and equipment, net 13,785 6,816 Other assets 150 548 $163,975 $61,917 Liabilities and Shareholders' Equity: Line of credit $-- $777 Accounts payable 34,744 12,573 Accrued liabilities 8,475 2,969 Current portion of capitalized lease obligations 537 778 Total current liabilities 43,756 17,097 Capitalized lease obligations, less current portion -- 546 Shareholders' equity: Common Stock 122,686 66,717 Warrants 242 242 Deferred compensation (818) (1,181) Accumulated deficit (1,891) (21,504) Total shareholders' equity 120,219 44,274 $163,975 $61,917 3DFX INTERACTIVE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) Three Months Ended Nine Months Ended September 30, September 30, 1998 1997 1998 1997 Revenues $33,206 $10,018 $141,858 $21,772 Cost of revenues 24,971 5,352 81,144 11,211 Gross profit 8,235 4,666 60,714 10,561 Operating expenses: Research and development 10,038 3,201 24,172 7,552 Selling, general and administrative 6,971 2,684 24,650 7,052 Total operating expenses 17,009 5,885 48,822 14,604 Income/(loss) from operations (8,774) (1,219) 11,892 (4,043) Interest and other income (expense), net 13,045 347 14,610 256 Income/(loss) before income taxes 4,271 (872) 26,502 (3,787) Provision for income taxes 1,153 -- 6,889 -- Net income/(loss) $3,118 $(872) $19,613 $(3,787) Net income/(loss) per share Basic $0.20 $(0.07) $1.34 $(0.37) Diluted $0.20 $(0.07) $1.22 $(0.37) Shares used in net income/(loss) per share calculations Basic 15,437 12,454 14,674 10,169 Diluted 15,819 12,454 16,024 10,169

To: Curbstone who wrote (8247)	10/15/1998 4:34:00 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 16960

Thanks for the timely post. 3Dfx has weaseled out of spelling out their operating income. Depending on how much of the $11.5 mill they had to pay the lawers, their operating income has been a loss of 30 to 73 cents with the most likely number being ~50 cents. I think this is a lot worse than most people expected. I wish I could be on that conference call. Last time most of the "analysts" asked dumb or irrelavent questions. Sun Tzu P.S. I just read Simon's post. The operating earnings was loss of 55.4 cents a share, which is close to my guess but a lot worse than most people's. The book value is $7.59 and cash+short terms is $6.00 per share. A lot depends on what they say in the conference call. Beyond that the only saving grace is that everyone was pessimistic on the stock.

To: Curbstone who wrote (8247)	10/15/1998 4:35:00 PM
From: Michael Linov	Respond to of 16960

3DFX INTERACTIVE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) September 30, December 31, 1998 1997 Assets: Cash and cash equivalents $81,148 $28,937 Short-term investments 13,623 5,984 Accounts receivable, net 26,561 13,387 Inventory 25,471 3,845 Other current assets 3,237 2,400 Total current assets 150,040 54,553 Property and equipment, net 13,785 6,816 Other assets 150 548 $163,975 $61,917 Liabilities and Shareholders' Equity: Line of credit $-- $777 Accounts payable 34,744 12,573 Accrued liabilities 8,475 2,969 Current portion of capitalized lease obligations 537 778 Total current liabilities 43,756 17,097 Capitalized lease obligations, less current portion -- 546 Shareholders' equity: Common Stock 122,686 66,717 Warrants 242 242 Deferred compensation (818) (1,181) Accumulated deficit (1,891) (21,504) Total shareholders' equity 120,219 44,274 $163,975 $61,917 3DFX INTERACTIVE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) Three Months Ended Nine Months Ended September 30, September 30, 1998 1997 1998 1997 Revenues $33,206 $10,018 $141,858 $21,772 Cost of revenues 24,971 5,352 81,144 11,211 Gross profit 8,235 4,666 60,714 10,561 Operating expenses: Research and development 10,038 3,201 24,172 7,552 Selling, general and administrative 6,971 2,684 24,650 7,052 Total operating expenses 17,009 5,885 48,822 14,604 Income/(loss) from operations (8,774) (1,219) 11,892 (4,043) Interest and other income (expense), net 13,045 347 14,610 256 Income/(loss) before income taxes 4,271 (872) 26,502 (3,787) Provision for income taxes 1,153 -- 6,889 -- Net income/(loss) $3,118 $(872) $19,613 $(3,787) Net income/(loss) per share Basic $0.20 $(0.07) $1.34 $(0.37) Diluted $0.20 $(0.07) $1.22 $(0.37) Shares used in net income/(loss) per share calculations Basic 15,437 12,454 14,674 10,169 Diluted 15,819 12,454 16,024 10,169 SOURCE: 3Dfx Interactive, Inc.