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Financial Statements of Applied Microsystems Corporation
(Unaudited)
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 ...................................... $ -- $ 2,781 $ -- $ 10,917
Cost of sales .................................. -- 908 -- 3,644
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Gross profit ................................... -- 1,873 -- 7,273
Operating expenses:
Sales, general and administrative ........... 201 1,657 1,247 6,729
Research and development .................... 2 1,249 305 4,488
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203 2,906 1,552 11,217
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Operating loss before in-process research and
development and restructuring expenses ... (203) (1,033) (1,552) (3,944)
In-process research and development ......... -- -- -- (621)
Restructuring expenses ...................... -- -- -- (1,149)
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Loss from operations ........................... (203) (1,033) (1,552) (5,714)
Interest income and other, net ................. 204 (12) 397 34
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Net income (loss) .............................. $ 1 $ (1,045) $ (1,155) $ (5,680)
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Basic and diluted net loss per share ........... $ 0.00 $ (0.14) $ (0.15) $ (0.77)
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Shares used in per-share calculation ........... 7,597 7,553 7,597 7,355
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands)
September 30, December 31,
2003 2002
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Assets:
Cash and cash equivalents ................... $1,194 $3,600
Securities available-for-sale ............... -- 299
Net accounts receivable ..................... -- 280
Note receivable ............................. 500 500
Other assets ................................ 59 540
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Total assets ............................. $1,753 $5,219
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Liabilities and shareholders' equity:
Total liabilities ........................... $1,026 $3,337
Shareholders' equity ........................ 727 1,882
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Total liabilities and shareholders' equity $1,753 $5,219
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