I hope the CC is good!
SUNNYVALE, Calif., Nov. 11 (Reuters) -
GENERAL MAGIC, INC.
(A Development Stage Enterprise)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Three-Month Periods Nine-Month Periods
Ended Sept. 30, Ended Sept. 30,
1998 1997 1998 1997
Revenue:
Licensing revenue $ 63 $ 2,228 $ 1,577 $ 2,438
Other revenue 311 325 583 901
Total revenue 374 2,553 2,160 3,339
Costs and expenses:
Cost of other revenue 191 291 389 828
Research and development
5,735 5,513 16,375 14,948
Sales, general and
administrative 5,992 2,169 13,836 9,178
Write-off of in-process
research and development -- -- 2,050 --
Total costs and expenses
11,918 7,973 32,650 24,954
Loss from operations (11,544) (5,420) (30,490) (21,615)
Total other income, net 1,498 582 6,703 2,269
Loss before income taxes
(10,046) (4,838) (23,787) (19,346)
Income taxes -- 8 19 17
Net loss (10,046) (4,846) (23,806) (19,363)
Favorable conversion
rights on convertible
Series A preferred
stock issuance -- -- (3,665) --
Favorable conversion
rights on redeemable,
convertible Series
B preferred stock and
warrants issuance and
preferred stock dividend -- -- (8,150) --
Favorable redemption
rights on redeemable,
convertible Series
C preferred stock issuance
-- -- (10,016) --
Loss applicable
to common
stockholders (10,046) (4,846) (45,637) (19,363)
Basic and diluted
loss per share (0.34) (0.18) (1.58) (0.72)
Shares used in computing
basic and diluted loss
per share 30,017 26,854 28,849 26,741
Copyright 1998, Reuters News Service
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