(In thousands, except per share data) | Three months ended September 30, | Year ended September 30, | ||||||||||||||
2002 | 2001 | 2002 | 2001 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
| Revenue: | ||||||||||||||||
| Subscription services | $ | 8,311 | $ | 8,944 | $ | 34,180 | $ | 43,428 | ||||||||
| Consulting and support services | 1,357 | 571 | 3,760 | 2,201 | ||||||||||||
| Total revenue | 9,668 | 9,515 | 37,940 | 45,629 | ||||||||||||
| Expenses: | ||||||||||||||||
| Costs of subscription services | 2,595 | 3,759 | 11,565 | 13,388 | ||||||||||||
| Costs of consulting and support services | 777 | 748 | 3,408 | 2,971 | ||||||||||||
| Research and development | 2,008 | 1,856 | 8,428 | 7,256 | ||||||||||||
| Sales and marketing | 4,775 | 5,048 | 19,209 | 21,626 | ||||||||||||
| Operations | 1,768 | 2,183 | 7,804 | 7,722 | ||||||||||||
| General and administrative | 2,004 | 1,783 | 8,137 | 7,048 | ||||||||||||
| Restructuring costs | — | — | — | 271 | ||||||||||||
| Excess facility costs | — | 11,012 | — | 11,012 | ||||||||||||
| Property impairment charge | 52,028 | — | 52,028 | — | ||||||||||||
Acquisition-related charges, impairment and amortization of intangible assets, and stock-based compensation | 524 | 512 | 1,727 | 48,418 | ||||||||||||
| Total expenses | 66,479 | 26,901 | 112,306 | 119,712 | ||||||||||||
| Loss from operations | (56,811 | ) | (17,386 | ) | (74,366 | ) | (74,083 | ) | ||||||||
| Interest income, net | 2,935 | 3,704 | 11,999 | 18,282 | ||||||||||||
Loss before provision for income taxes and the cumulative effect of a change in accounting principle | (53,876 | ) | (13,682 | ) | (62,367 | ) | (55,801 | ) | ||||||||
| Provision for income taxes | — | 150 | — | 600 | ||||||||||||
| Net loss before cumulative effect of a change in accounting principle | (53,876 | ) | (13,832 | ) | (62,367 | ) | (56,401 | ) | ||||||||
| Cumulative effect of a change in accounting principle | — | — | (3,160 | ) | — | |||||||||||
| Net loss | $ | (53,876 | ) | $ | (13,832 | ) | $ | (65,527 | ) | $ | (56,401 | ) | ||||
| Net loss per share: | ||||||||||||||||
| Basic and diluted | $ | (1.93 | ) | $ | (0.50 | ) | $ | (2.35 | ) | $ | (2.04 | ) | ||||
| Weighted average common shares outstanding used: | ||||||||||||||||
| Basic and diluted | 27,896 | 27,864 | 27,864 | 27,713 | ||||||||||||
(In thousands) | September 30 , 2002 | September 30, 2001 | ||||||
Assets | ||||||||
| Current assets: | ||||||||
| Cash and short-term investments | $ | 239,287 | $ | 254,193 | ||||
| Accounts receivable, net | 4,820 | 7,862 | ||||||
| Prepaid and other current assets | 1,272 | 2,152 | ||||||
| Total current assets | 245,379 | 264,207 | ||||||
| Restricted cash | — | 85,000 | ||||||
| Property and equipment, net | 37,468 | 17,208 | ||||||
| Goodwill and other intangible assets | 2,934 | 4,497 | ||||||
| Other assets | — | 1,752 | ||||||
| Total assets | $ | 285,781 | $ | 372,664 | ||||
Liabilities and Stockholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Current portion of notes payable and capital lease obligation | $ | — | $ | 830 | ||||
| Accounts payable | 1,014 | 2,385 | ||||||
| Accrued expenses | 8,191 | 10,626 | ||||||
| Accrued excess facility costs | — | 10,303 | ||||||
| Deferred revenue | 5,121 | 5,401 | ||||||
| Total current liabilities | 14,326 | 29,545 | ||||||
| Total liabilities | 14,326 | 29,545 | ||||||
| Stockholders’ equity: | ||||||||
| Common stock | 28 | 28 | ||||||
| Treasury stock | (6,988 | ) | (1,086 | ) | ||||
| Additional paid-in capital | 413,684 | 413,966 | ||||||
| Deferred compensation | (31 | ) | (452 | ) | ||||
| Accumulated deficit | (137,333 | ) | (71,804 | ) | ||||
| Accumulated other comprehensive income | 2,095 | 2,467 | ||||||
| Total stockholders’ equity | 271,455 | 343,119 | ||||||
| Total liabilities and stockholders’ equity | $ | 285,781 | $ | 372,664 | ||||
