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EXHIBIT 99.01
INTUIT INC.
CONDENSEND CONSOLIDATED STATEMENT OF OPERATIONS INFORMATION
(UNAUDITED)
THREE MONTHS ENDED NINE MONTHS ENDED
APRIL 30, APRIL 30,
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1997 1998 1997 1998
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(IN THOUSANDS, EXCEPT PER SHARE DATA)
Net revenue .......................................... $ 136,326 $ 141,996 $ 504,810 $ 475,467
Costs and expenses:
Cost of goods sold:
Product ........................................ 28,917 29,331 114,583 97,206
Amortization of purchased software and other ... 526 588 680 1,941
Customer service and technical support ............ 27,040 26,389 95,111 91,821
Selling and marketing ............................. 40,196 55,067 130,832 134,006
Research and development .......................... 22,393 25,381 67,784 78,159
General and administrative ........................ 8,737 9,180 31,361 27,387
Charge for purchased research and development ..... 6,080 -- 11,009 --
Other acquisition costs, including amortization of
goodwill and purchased intangibles ............. 4,284 3,369 20,778 12,230
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Total costs and expenses ............................. 138,173 149,305 472,138 442,750
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Income (loss) from operations ........................ (1,847) (7,309) 32,672 32,717
Interest and other income and expense, net ........... 2,806 3,104 6,612 7,375
Gain on disposal of business ......................... -- -- -- 4,321
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Income (loss) from continuing operations before
income taxes ...................................... 959 (4,205) 39,284 44,413
Income tax provision (benefit) ....................... 471 (1,999) 22,400 17,534
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Net income (loss) from continuing operations after
tax ............................................... 488 (2,206) 16,884 26,879
Gain on sale of discontinued operations, net of tax .. -- -- 71,240 --
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Net income (loss) .................................... $ 488 $ (2,206) $ 88,124 $ 26,879
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Basic net income (loss) per share from continuing
operations ........................................ 0.01 (0.05) 0.36 0.56
Basic net income per share from sale of discontinued
operations ........................................ -- -- 1.54 --
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Basic net income (loss) per share .................... $ 0.01 $ (0.05) $ 1.90 $ 0.56
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Shares used in per share amounts ..................... 46,526 48,209 46,322 47,618
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Diluted net income (loss) per share from continuing
operations ........................................ 0.01 (0.05) 0.36 0.54
Diluted net income per share from sale of discontinued
operations ........................................ -- -- 1.50 --
Diluted net income (loss) per share .................. $ 0.01 $ (0.05) $ 1.86 $ 0.54
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Shares used in per share amounts
47,252 48,209 47,407 49,560
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INTUIT INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(In Thousands)
(Unaudited)
April 30,
1998
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ASSETS:
Current assets:
Cash, cash equivalents and short-term investments $ 247,258
Marketable securities 479,227
Accounts receivable, net 118,676
Due from affiliate 50,000
Inventories 2,015
Prepaid expenses 23,310
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Total current assets 920,486
Property and equipment, net 69,575
Intangible assets 11,737
Goodwill, net 16,166
Other assets 13,397
Investments 11,000
Restricted investments 31,053
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Total assets $1,073,414
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LIABILITIES AND STOCKHOLDERS EQUITY:
Current liabilities:
Accounts payable $ 48,218
Accrued compensation and related liabilities 22,761
Deferred revenue 28,820
Income taxes payable 6,213
Deferred income taxes 126,219
Other accrued liabilities 165,059
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Total current liabilities 397,290
Long-term obligations 39,173
Long-term deferred income taxes 117
Stockholders' equity 636,834
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Total liabilities and stockholders' equity $1,073,414
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