| |
| Genus,
Inc. |
| Condensed
Consolidated Statements of Operations (Unaudited) |
| (Amounts
in thousands, except per share data) |
| |
|
| |
Three Months
Ended
|
|
Nine Months
Ended
|
| |
September
30,
|
|
September
30,
|
| |
2002
|
|
2001
|
|
2002
|
|
2001
|
| |
| Net
sales |
$
12,153 |
|
$
15,094 |
|
$28,487
|
|
$43,062
|
|
| Costs
and expenses: |
| Cost
of goods sold |
7,826
|
|
10,300 |
|
20,463 |
|
27,523 |
| Research
and development |
2,127 |
|
2,592 |
|
6,079 |
|
8,838 |
| Selling,
general and administrative |
3,498 |
|
2,739 |
|
10,229 |
|
7,971 |
| Loss
from operations |
(1,298) |
|
(537) |
|
(8,284) |
|
(1,270) |
|
|
| Other
income (expenses, net |
(206) |
|
(207) |
|
(493) |
|
(127) |
| Loss
before income taxes |
(1,504) |
|
(744) |
|
(8,777) |
|
(1,397) |
| |
| Provisions
for Income taxes |
70 |
|
0 |
|
159 |
|
69 |
|
| Net
loss |
$(1,575) |
|
$(744) |
|
$(8,936) |
|
$(1,466) |
|
| Net
loss per share |
| Basic
|
$(0.06) |
|
$(0.03) |
|
$(0.34) |
|
$(0.07) |
Diluted
|
$(0.06) |
|
$(0.03) |
|
$(0.34) |
|
$(0.07) |
| Share
used in per share calculations - basic |
27,693 |
|
22,268 |
|
26,572 |
|
20,793 |
| Shares
used in per share calculations - diluted |
27,693 |
|
22,268 |
|
26,572 |
|
20,793 |
| |
| Condensed
Consolidated Balance Sheets (Unaudited) |
| (Amounts
in thousands) |
| |
| |
September
30, 2002
|
|
December
31, 2001
|
| Assets: |
| Cash
and cash equivalents |
$
9,136 |
|
$
3,043 |
| Accounts
receivable, (net of allowance for doubtful accounts of $69 in
2002 and $69 in 2001) |
5,937 |
|
4,262 |
| Inventories |
8,137 |
|
12,648 |
| Other
current assets |
980 |
|
1,221 |
| Total
current assets |
24,190 |
|
21,174 |
|
| Equipment,
furniture and fixtures, net |
12,159 |
|
14,573 |
| Other
assets, net |
1,161 |
|
155 |
| Total
assets |
$37,510 |
|
$35,902 |
|
| Liabilities |
| Current
Liabilities |
|
|
|
| Short-term
bank borrowing |
$42,397 |
|
$4,481 |
| Accounts
Payable |
5,220 |
|
8,352 |
| Accrued
expenses |
3,640 |
|
3,553 |
| Deferred revenue |
2,938 |
|
7,388 |
| Capital leases, current portion |
313 |
|
-
|
| Convertible notes |
5,639 |
|
0 |
| Capital leases, long term
portion |
320 |
|
0 |
| Total Liabilities |
$22,309 |
|
$23,774 |
| SHAREHOLDERS EQUITY |
| Common stock, no par value: |
| Authorized 50,000 shares; |
|
|
|
| Issued and outstanding 27,740
shares at September 30, 3003 and 22,365 shares at December 31,
2001 |
122,638 |
|
110,753 |
| Accumulated deficit |
(105,125) |
|
(96,189) |
| Note receivable from shareholder |
(151) |
|
(151) |
| Accumulated other comprehensive
loss |
(2,161) |
|
(2,285) |
| Total shareholders' equity |
15,201 |
|
12,128 |
| Total liabilities and shareholders'
equity |
$37,510 |
|
$35,902 |
|
|
