NUMBER NINE VISUAL TECHNOLOGY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Ended Twelve Months Ended
Jan. 2, Dec. 27, Jan. 2, Dec. 27,
1999 1997 1999 1997
Revenue $3,069 $14,621 $16,466 $47,205
Cost of sales 2,699 14,688 16,702 44,053
Gross Margin 370 (67) (236) 3,152
Sales, general, &
administrative $1,795 $3,271 $7,758 $13,766
Research & development 1,369 1,877 5,662 8,263
Total operating expenses 3,164 5,148 13,420 22,029
Loss from operations (2,794) (5,215) (13,656) (18,877)
Other expense net 62 139 258 63
Loss before income
taxes (2,856) (5,354) (13,914) (18,940)
Provision for income
taxes --- --- --- 1,839
Net income (loss) (2,856) (5,354) (13,914) (20,779)
Net income (loss) per common
and equivalent share
-- diluted $(0.30) $(0.58) $(1.49) $(2.28)
-- primary $(0.30) $(0.58) $(1.49) $(2.28)
Weighted average number of common
and equivalent share
-- diluted 9,377 9,170 9,319 9,120
-- primary 9,377 9,170 9,319 9,120
NUMBER NINE VISUAL TECHNOLOGY CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
Jan. 2, 1999 December 27, 1997
Current assets:
Cash and cash equivalents $413 $2,481
Accounts receivable 2,542 10,506
Receivable from manufacturing
contractor and other --- 1,678
Inventories 1,052 2,864
Other current assets 711 274
Total current assets 4,718 17,803
Long-term assets 2,622 4,056
Total assets $7,340 $21,859
Current liabilities:
Revolving line of credit $1,301 $8,500
Accounts payable 2,684 6,148
Note payable with manufacturing
contractor 476 ---
Accrued expenses and other current
liabilities 1,852 1,429
Total current liabilities 6,313 16,077
Total stockholders' equity 1,027 5,782
Total liabilities and stockholders'
equity $7,340 $21,859
SOURCE Number Nine Visual Technology Corporation
-0- 04/01/99 /CONTACT: Investors: William Ralph,
General Manager, 781-869-7210, wralph@nine.com, or Editorial: Phil
Parker, Director of Corporate Communications, 781-869-7105,
pparker@nine.com both of Number Nine/
/Company News On-Call: prnewswire.com or
fax, 800-758-5804, ext. 105917/
/Web site: www.nine.com/ (NINE)
CO: Number Nine Visual Technology Corporation ST: Massachusetts,
Washington IN: CPR MLM SU: ERN |
