Exhibit 99.1
MEADE INSTRUMENTS CORP.
STATEMENT OF OPERATIONS DATA
(Unaudited)
(in thousands, except per share data)
| Three Months Ended |
| Year Ended |
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| 2007 |
| 2006 |
| 2007 |
| 2006 |
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Net sales |
| $ | 15,707 |
| $ | 23,341 |
| $ | 101,535 |
| $ | 119,835 |
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Cost of sales |
| 14,905 |
| 19,506 |
| 84,065 |
| 90,333 |
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Gross profit |
| 802 |
| 3,835 |
| 17,470 |
| 29,502 |
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Selling expenses |
| 4,362 |
| 3,959 |
| 17,646 |
| 18,286 |
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General and administrative expenses |
| 4,269 |
| 4,151 |
| 15,173 |
| 13,082 |
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ESOP expense |
| 73 |
| 81 |
| 302 |
| 343 |
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Research and development expenses |
| 667 |
| 398 |
| 1,840 |
| 1,464 |
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Operating loss |
| (8,569 | ) | (4,754 | ) | (17,491 | ) | (3,673 | ) | ||||
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Interest expense |
| 311 |
| 349 |
| 803 |
| 1,203 |
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Loss before income taxes |
| (8,880 | ) | (5,103 | ) | (18,294 | ) | (4,876 | ) | ||||
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Income tax provision (benefit) |
| (388 | ) | 8,112 |
| 888 |
| 9,104 |
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Net loss |
| $ | (8,492 | ) | $ | (13,215 | ) | $ | (19,182 | ) | $ | (13,980 | ) |
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Per share information: |
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Net loss — basic and diluted |
| $ | (0.43 | ) | $ | (0.68 | ) | $ | (0.98 | ) | $ | (0.72 | ) |
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Weighted average common shares outstanding—basic |
| 19,675 |
| 19,419 |
| 19,608 |
| 19,419 |
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Weighted average common shares outstanding—diluted |
| 19,675 |
| 19,419 |
| 19,608 |
| 19,419 |
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