| |
| Genus,
Inc. |
| Condensed
Consolidated Statement of Operations (Unaudited) |
| (Amounts
in thousands, except per share data) |
| |
| |
Three Months Ended
|
|
Twelve Months Ended
|
| |
December 31,
|
|
December 31,
|
| |
2002
|
|
2001
|
|
2002
|
|
2001*
|
| |
| Net sales |
$11,280 |
|
$ 5,677 |
|
$ 39,767 |
|
$ 48,739 |
| |
| Costs and expenses: |
|
|
|
|
|
|
|
| Cost of goods sold |
8,680 |
|
4,977 |
|
29,143 |
|
32,500 |
| Research and development |
1,932 |
|
3,280 |
|
8,011 |
|
12,118 |
| Selling, general
and administrative |
2,392 |
|
2,410
|
|
12,621
|
|
10,381 |
| Loss from operations |
(1,724) |
|
(4,990) |
|
(10,008) |
|
(6,260) |
| |
| Other income (expenses),
net |
(581) |
|
(209) |
|
(1,074) |
|
(336) |
| Loss before income
taxes |
(2,305) |
|
(5,199) |
|
(11,082) |
|
(6,596) |
| |
| Provision for Income
Taxes |
379
|
|
1
|
|
538 |
|
70
|
| |
| Net Loss |
$(2,684) |
|
$(5,200) |
|
$(11,620) |
|
$(6,666) |
| |
| Net loss per share |
| Basic |
$(0.10)
|
|
$0.23
|
|
$(0.43)
|
|
$(0.31)
|
| Diluted |
$(0.10)
|
|
$0.23
|
|
$(0.43)
|
|
$(0.31)
|
|
|
|
|
|
|
|
|
| Shares used in per
share calculations-basic |
28,008 |
|
22,275 |
|
26,934 |
|
21,163 |
| Shares used in per
share calculations-diluted |
28,008
|
|
22,275
|
|
26,934
|
|
21,163
|
| |
| Note: * The Statement of Operations
as of December 31, 2001, had been derived from the audited financial
statements at that date. |
|
| Condensed Consolidated
Balance Sheets (Unaudited) |
| (Amounts in thousands) |
| |
| |
December 31, 2002
|
|
December 31, 2001*
|
| ASSETS |
| Current Assets |
| Cash and cash equivalents |
$ 11,546 |
|
$ 3,043 |
| Accounts receivable
(net of allowance for doubtful accounts of $69 in 2002 and $69
in 2001) |
7,505 |
|
4,262 |
| Inventories |
11,405 |
|
12,648 |
| Other current assets |
1,336 |
|
1,221 |
| Total current assets |
31,792 |
|
21,174 |
| |
| Equipment, furniture
and fixturest, net |
8,661 |
|
14,573 |
| Other assets, net |
1,057 |
|
155 |
| Total assets |
$ 41,510 |
|
$ 35,902 |
|
| LIABILITIES |
| Current Liabilities |
| Short-term bank borrowing |
$ 7,813 |
|
$ 4,481 |
| Accounts payable |
6,498 |
|
8,352 |
| Accrued expenses |
4,873 |
|
3,553 |
| Deferred revenue |
2,713 |
|
7,388 |
| Capital leases, current
portion |
270 |
|
-- |
| Total Current Liabilities |
22,167 |
|
23,774 |
|
|
|
|
| Convertible notes |
5,301 |
|
-- |
| Capital leases, long
term portion |
245 |
|
-- |
| Total Liabilities |
$27,713 |
|
$23,774 |
|
|
|
|
| SHAREHOLDERS'
EQUITY |
|
|
|
| Common stock, no par
value |
|
|
|
| Authorized 50,000
shares; |
|
|
|
| Issued and outstanding
28,621 shares at December 31, 2002 and 22,365 shares at December
31, 2001 |
123,890 |
|
110,753 |
| Accumulated deficit |
(107,809) |
|
(96,189) |
| Note receivable from
shareholder |
(151) |
|
(151) |
| Accumulated other
comprehensive loss |
(2,133) |
|
(2,285) |
| Total shareholders'
equity |
13,797 |
|
12,128 |
| Total liabilities
abd shareholders' equity |
$ 41,510 |
|
$35,902 |
|
|
|
|
| Note * The Balance
Sheet as of December 31, 2001 had been derived from the audited
financial statements at that date. |
|
|
|
|
|
