| |
|
Genus, Inc.
and Subsidiaries
|
|
Condensed
Consolidated Statements of Operations (Unaudited)
|
|
(in thousands,
except per share data)
|
| |
|
| |
Three Months
Ended
|
|
Nine Months
Ended
|
| |
September
30,
|
|
September
30,
|
| |
2003
|
|
2002
|
|
2003
|
|
2002
|
| |
| Net
sales |
$
9,107 |
|
$
12,153 |
|
$41,541
|
|
$28,487
|
|
| Costs
and expenses: |
| Cost
of goods sold |
7,049
|
|
7,826 |
|
29,438 |
|
20,463 |
| Research
and development |
1,663 |
|
2,127 |
|
5,758 |
|
6,079 |
| Selling,
general and administrative |
2,800 |
|
3,498 |
|
8,842 |
|
10,229 |
| Loss
from operations |
(2,405) |
|
(1,298) |
|
(2,497) |
|
(8,284) |
| |
| Other
income (expenses, net |
(376) |
|
(206) |
|
(1,234) |
|
(493) |
| Loss
before income taxes |
(2,781) |
|
(1,504) |
|
(3,731) |
|
(8,777) |
| |
| Provisions
for Income taxes |
56 |
|
71 |
|
56 |
|
159 |
|
| Net
loss |
$(2,837) |
|
$(1,575) |
|
$(3,787) |
|
$(8,936) |
|
| Net
loss per share |
| Basic
|
$(0.09) |
|
$(0.06) |
|
$(0.13) |
|
$(0.34) |
Diluted
|
$(0.09) |
|
$(0.06) |
|
$(0.13) |
|
$(0.34) |
| Share
used in per share calculations - basic |
30,628 |
|
27,693 |
|
29,624 |
|
26,572 |
| Shares
used in per share calculations - diluted |
30,628 |
|
27,693 |
|
29,624 |
|
26,572 |
| |
|
Genus, Inc.
and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
|
|
( in thousands)
|
| |
| |
September
30, 2003
|
|
December
31, 2002
|
| Assets: |
| Cash
and cash equivalents |
$
10,470 |
|
$
11,546 |
| Accounts
receivable, (net of allowance for doubtful accounts of $0 in
2003 and $69 in 2002) |
3,275 |
|
7,505 |
| Inventories |
9,005 |
|
11,405 |
| Other
current assets |
1,064 |
|
1,336 |
| Total
current assets |
23,814 |
|
31,792 |
|
| Equipment,
furniture and fixtures, net |
9,325 |
|
8,661 |
| Other
assets, net |
1,270 |
|
1,057 |
| Total
assets |
$34,409 |
|
$41,510 |
|
| Liabilities |
| Current
Liabilities: |
|
|
|
| Short-term
bank borrowing |
$1,969 |
|
$7,813 |
| Accounts
Payable |
3,186 |
|
6,498 |
| Accrued
expenses |
3,857 |
|
3,064 |
| Deferred
revenue |
2,576 |
|
2,713 |
| Customer
advances |
1,728 |
|
1,809 |
| Long-term
liabilities, current portion |
266 |
|
245 |
| Total
current liabilities |
13,582 |
|
22,142
|
| Convertible notes |
5,647 |
|
5,301 |
| Long-term
liabilities |
47 |
|
270 |
| Total Liabilities |
$19,276 |
|
$27,713 |
| SHAREHOLDERS
EQUITY |
| Common
stock, no par value: |
| Authorized
100,000 shares on September 30, 2003; and 50,000 shares on December
31, 2002; |
|
|
|
| Issued
and outstanding 32,201 shares in 2003 and 28,621 in 2002 |
128,862 |
|
123,890 |
| Accumulated
deficit |
(111,596) |
|
(107,809) |
| Note
receivable from shareholder |
(151) |
|
(151) |
| Accumulated
other comprehensive loss |
(1,982) |
|
(2,133) |
| Total
shareholders' equity |
15,133 |
|
13,797 |
| Total
liabilities and shareholders' equity |
$34,409 |
|
$41,510 |
|
|
