OBJECT DESIGN, INC.
Here's the balance sheet..
CONSOLIDATED BALANCE SHEETS
(in thousands)
Dec. 31, Dec. 31,
1998 1997
ASSETS
Current assets:
Cash, cash equivalents and marketable
securities $23,591 $18,909
Accounts receivable, net 15,885 14,052
Prepaid expenses and other current assets 644 830
Total current assets 40,120 33,791
Property and equipment, net 4,216 3,915
Marketable securities 1,020 --
Other assets 3,636 1,172
Total assets $48,992 $38,878
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses 8,790 5,877
Deferred revenue 5,433 3,946
Total current liabilities 14,223 9,823
Long-term obligations 18 236
Stockholders' equity: 34,751 28,819
Total liabilities and stockholders' equity $48,992 $38,878
OBJECT DESIGN, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Ended Year Ended
December 31, December 31,
1998 1997 1998 1997
Revenues:
Software $11,806 $8,812 $44,040 $33,560
Services 5,240 3,027 18,010 11,425
Related party software
and services 56 81 308 2,280
Total revenues 17,102 11,920 62,358 47,265
Cost of revenues:
Cost of software 356 325 1,605 1,447
Cost of services 2,636 2,316 10,311 8,365
Cost of related party
software and services 38 57 211 351
Total cost of revenues 3,030 2,698 12,127 10,163
Gross profit 14,072 9,222 50,231 37,102
Operating expenses:
Selling and marketing 8,443 7,911 31,589 25,223
Research and development 2,387 1,946 8,643 7,719
General and administrative 1,415 1,150 5,619 4,596
Total operating
expenses 12,245 11,007 45,851 37,538
Operating income (loss) 1,827 (1,785) 4,380 (436)
Other income: 281 287 978 1,333
Income (loss) before income
taxes 2,108 (1,498) 5,358 897
Provision for income taxes 211 -- 535 97
Net income (loss) $1,897 $(1,498) $4,823 $800
Net income (loss) per
share-Basic $0.07 $(0.05) $0.17 $0.03
Net income (loss) per
share-Diluted $0.06 $(0.05) $0.17 $0.03
Weighted average number
of common shares
outstanding 27,958 27,359 27,756 27,050
Weighted average number
of common and dilutive
common equivalent shares 29,223 27,359 29,064 29,242 |
