| |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Genus,
Inc. |
|
|
Exhibit
1 |
| Condensed
Consolidated Statement of Operations (Unaudited) |
|
|
|
|
|
| (Amounts
in thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three
Months Ended |
|
Six
Months Ended |
|
|
|
|
June
30, |
|
June
30, |
|
|
|
|
2003
|
|
2002
|
|
2003
|
|
2002
|
|
|
|
|
|
|
|
| Net
sales |
|
$14,739 |
|
$
6,743 |
|
$32,434 |
|
$
16,334 |
|
|
|
|
|
|
|
|
| Costs
and expenses: |
|
|
|
|
|
Cost
of goods sold |
|
10,813
|
|
5,170 |
|
22,390
|
|
12,637
|
|
|
|
|
Research
and development |
|
1,981
|
|
1,767
|
|
4,094
|
|
3,952 |
|
|
|
|
Selling,
general and administrative |
|
2,868 |
|
3,295 |
|
6,042
|
|
6,731 |
|
|
|
|
Loss from operations |
|
(923) |
|
(3,489) |
|
(92) |
|
(6,986) |
|
|
|
|
|
|
|
|
|
| Other
income (expenses), net |
|
(435)
|
|
(32) |
|
(858)
|
|
(287) |
|
|
|
|
Loss
before income taxes |
|
(1,358) |
|
(3,521) |
|
(950) |
|
(7,273) |
|
|
|
|
|
|
|
|
|
|
Provision
for income taxes |
|
0 |
|
88 |
|
0
|
|
88 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Loss |
|
$
(1,358) |
|
$
(3,609) |
|
$
(950) |
|
$
(7,361) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss per share |
|
|
|
|
Basic |
|
$
(0.05) |
|
$
(0.13) |
|
$
(0.03) |
|
$
(0.28) |
|
|
|
Diluted |
|
$
(0.05) |
|
$ (0.13) |
|
$ (0.03) |
|
$ (0.28) |
|
|
|
|
|
|
|
|
Shares
used in per share calculation-basic |
|
29,313 |
|
26,749 |
|
29,114 |
26,003 |
|
|
|
Shares
used in per share calculation-diluted |
|
29,313 |
|
26,749 |
|
29,114 |
|
26,003 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GENUS,
INC. |
|
|
Exhibit
2 |
|
Condensed
Consolidated Balance Sheets (Unaudited) |
|
|
|
|
(Amounts
in thousands) |
|
|
|
|
|
|
|
|
|
June
30,
|
|
|
December
31,
|
|
|
|
|
2003
|
|
|
2002
|
|
|
|
Assets |
|
|
|
|
|
|
Cash
and cash equivalents |
|
$10,944 |
|
|
$
11,546
|
|
|
|
Accounts
receivable, (net of allowance for doubtful accounts of $152
in 2003 and $69 in 2002) |
|
7,817 |
|
|
7,505
|
|
|
|
Inventories |
|
10,625
|
|
|
11,405
|
|
|
|
Other
current assets |
|
947 |
|
|
1,336
|
|
|
|
Total
current assets |
|
30,333 |
|
|
31,792
|
|
|
|
|
|
|
|
|
|
Equipment,
furniture and fixtures, net |
|
9,629 |
|
|
8,661
|
|
|
|
Other
assets, net |
|
1,289 |
|
|
1,057
|
|
|
|
Total
assets |
|
$ 41,251 |
|
|
$
41,510
|
|
|
|
|
|
|
|
|
| |
Liabilities |
|
|
|
|
|
|
Current
liabilities |
|
|
|
|
|
|
short-term
bank borrowing |
|
$
7,773 |
|
|
$7,813
|
|
|
|
Accounts
payable |
|
4,037 |
|
|
6,498
|
|
|
| |
Accrued
expenses |
|
4,043
|
|
|
3,064
|
|
|
| |
Deferred revenue |
|
5,241 |
|
|
2,713
|
|
|
| |
Customer Advances |
|
- |
|
|
1,809
|
|
|
| |
Long-term liabilities,
current portion |
|
260 |
|
|
245
|
|
|
| |
Total Current Liabilities |
|
21,354 |
|
|
22,142
|
|
|
| |
|
|
|
|
|
|
|
|
| |
Convertible Notes |
|
5,491 |
|
|
5,301
|
|
|
| |
Long-term liabilities |
|
116 |
|
|
270
|
|
|
|
Total liabilities |
|
26,961 |
|
|
27,713
|
|
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
Common
stock, no par value: |
|
|
|
|
|
|
|
| |
Authorized
100,000 shares on June 30, 2003; and 50,000 shares on December
31, 2002; Issued and outstanding 29,757 shares in 2003 and 28,621
in 2002 |
|
|
|
125,310
|
|
|
|
123,890
|
|
|
| |
Accumulated deficit |
|
|
|
(108,759)
|
|
|
|
(107,809)
|
|
|
| |
Note receivable from shareholder |
|
|
|
(151)
|
|
|
|
(151)
|
|
|
| |
Accumulated other comprehensive loss |
|
|
|
(2,110)
|
|
|
|
(2,133)
|
|
|
| |
Total shareholders' equity |
|
|
|
14,290
|
|
|
|
13,797
|
|
|
| |
Total liabilities and shareholders'
equity |
|
|
|
$
41,251
|
|
|
|
$
41,510
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
