| |
|
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,
|
| |
2003
|
|
2002
|
|
2003
|
|
2002
|
| |
| Net sales |
$15,320 |
|
$ 11,280 |
|
$ 56,861 |
|
$ 39,767 |
| |
| Costs and expenses: |
|
|
|
|
|
|
|
| Cost of goods sold |
9,811 |
|
8,680 |
|
39,249 |
|
29,143 |
| Research and development |
1,839 |
|
1,932 |
|
7,597 |
|
8,011 |
| Selling, general
and administrative |
2,899 |
|
2,392
|
|
11,741 |
|
12,621 |
| Income (loss) from
operations |
771 |
|
(1,724) |
|
(1,726) |
|
(10,008) |
| |
| Other expenses, net |
(331) |
|
(581) |
|
(1,565) |
|
(1,074) |
| Income (loss) before
income taxes |
440 |
|
(2,305) |
|
(3,291) |
|
(11,082) |
| |
| Provision for Income
Taxes |
172
|
|
379
|
|
228 |
|
538
|
| |
| Net Income (loss)
|
$268 |
|
$(2,684) |
|
$(3,519) |
|
$(11,620) |
| |
| Net loss per share |
| Basic |
$0.01
|
|
$(0.09)
|
|
$(0.11)
|
|
$(0.43)
|
| Diluted |
$0.01
|
|
$(0.09)
|
|
$(0.11)
|
|
$(0.43)
|
|
|
|
|
|
|
|
|
| Shares used in per
share calculations-basic |
36,288 |
|
28,008 |
|
31,303 |
|
26,934 |
| Shares used in per
share calculations-diluted |
37,047
|
|
28,008
|
|
31,303
|
|
26,934
|
| |
| |
|
|
Condensed Consolidated
Balance Sheets (Unaudited)
|
|
(Amounts in thousands)
|
| |
| |
December 31, 2003
|
|
December 31, 2002
|
| ASSETS |
| Current Assets |
| Cash and cash equivalents |
$ 41,608 |
|
$ 11,546 |
| Accounts receivable
(net of allowance for doubtful accounts of $0 in 2003 and $69
in 2002) |
9,606 |
|
7,505 |
| Inventories |
9,783 |
|
11,405 |
| Other current assets |
854 |
|
1,336 |
| Total current assets |
61,851 |
|
31,792 |
| |
| Equipment, furniture
and fixturest, net |
8,748 |
|
8,661 |
| Other assets, net |
1,169 |
|
1,057 |
| Total assets |
$ 71,768 |
|
$ 41,510 |
|
| LIABILITIES |
| Current Liabilities |
| Short-term bank borrowing |
$ 6,500 |
|
$ 7,813 |
| Accounts payable |
4,956 |
|
6,498 |
| Accrued expenses |
4,130 |
|
3,064 |
| Deferred revenue |
331 |
|
2,713 |
| Customer advances |
372 |
|
1,809 |
| Long-term liabilities,
current portion |
249 |
|
245 |
| Total Current Liabilities |
16,538 |
|
22,142 |
|
|
|
|
| Convertible notes |
5,806 |
|
5,301 |
| Capital leases, long
term portionLong-term liabilities |
-- |
|
270 |
| Total Liabilities |
$22,344 |
|
$27,713 |
|
|
|
|
| SHAREHOLDERS'
EQUITY |
|
|
|
| Common stock, no par
value |
|
|
|
| Authorized 100,000
shares on December 31, 2003; and 50,000 shares on December 31,
2002; |
|
|
|
| Issued and outstanding
39,554 shares in 2003 and 28,621 in 2002 |
163,061 |
|
123,890 |
| Accumulated deficit |
(111,328) |
|
(107,809) |
| Note receivable from
shareholder |
(187) |
|
(151) |
| Accumulated other
comprehensive loss |
(2,122) |
|
(2,133) |
| Total shareholders'
equity |
49,424 |
|
13,797 |
| Total liabilities
abd shareholders' equity |
$ 71,768 |
|
$41,510 |
|
|
|
|
| |
|
|
|
|
|
