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Exhibit 99.1
MOLECULAR DEVICES CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended
March 31,
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2003 2002
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(unaudited)
REVENUES $ 24,550 $ 20,625
TOTAL COST OF REVENUES 9,528 8,050
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GROSS PROFIT 15,022 12,575
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OPERATING EXPENSES:
Research and development 4,659 4,121
Selling, general and administrative 9,639 7,584
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Total operating expenses 14,298 11,705
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INCOME FROM OPERATIONS 724 870
Other income, net 306 296
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INCOME BEFORE INCOME TAXES 1,030 1,166
Income tax provision (309) (443)
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NET INCOME $ 721 $ 723
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BASIC NET INCOME PER SHARE $ 0.05 $ 0.05
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DILUTED NET INCOME PER SHARE $ 0.05 $ 0.05
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SHARES USED IN COMPUTING BASIC NET INCOME PER SHARE 15,343 15,432
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SHARES USED IN COMPUTING DILUTED NET INCOME PER SHARE 15,402 15,576
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MOLECULAR DEVICES CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
March 31, December 31,
2003 2002
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(unaudited)
ASSETS:
Current assets:
Cash and cash equivalents $ 46,090 $ 43,733
Short-term investments 9,218 10,050
Accounts receivable, net 23,074 26,443
Inventories 17,216 17,722
Deferred tax assets 4,956 5,230
Other current assets 2,155 1,770
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Total current assets 102,709 104,948
Equipment and leasehold improvements, net 10,803 10,943
Goodwill 26,017 26,017
Other assets 20,506 20,993
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Total assets $160,035 $162,901
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 2,414 $ 2,863
Accrued liabilities 11,669 17,234
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Total current liabilities 14,083 20,097
Stockholders' equity: 145,952 142,804
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Total liabilities and stockholders' equity $160,035 $162,901
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