Exhibit 13.1
20
SELECTED CONSOLIDATED FINANCIAL DATA
SELECTED CONSOLIDATED FINANCIAL DATA - The following table sets forth selected
consolidated financial information of the company for the five years in the
period ended July 31, 1997. This selected financial information should be read
in conjunction with the company's Consolidated Financial Statements and related
Notes.
(in thousands, except per share data)
Years ended July 31,
1997 1996 1995 1994 1993
---------- --------- --------- --------- ---------
Consolidated Statement of Operations Data:
Net revenues $ 70,607 $ 28,485 $22,293 $19,388 $16,548
Cost of revenues 42,152 17,909 13,014 11,329 10,028
Research and development expenses 25,058 6,971 -- -- --
In-process research and development expenses 1,312 2,691 -- -- --
Selling, general and administrative expenses 55,194 21,488 6,387 4,792 4,225
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Operating income (loss) (53,109) (20,574) 2,892 3,267 2,295
Interest income (expense), net 1,749 2,691 225 (96) (323)
Gain on sale of investment in TeleT Communications 3,616 -- -- -- --
Gain on sale of NetCarta Corporation 15,111 -- -- -- --
Gain on dividend distribution of Lycos, Inc. common stock 8,413 -- -- -- --
Gain on sale of available-for-sale securities -- 30,049 4,781 -- --
Gain on issuance of stock by subsidiary -- 19,575 -- -- --
Other income (expense), net (769) (746) (292) -- (139)
Income tax benefit (expense) 2,962 (16,673) (2,844) (1,211) (627)
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Income from continuing operations (22,027) 14,322 4,762 1,960 1,206
Gain from discontinued operations -- -- 23,453 (159) --
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Net income (loss) $(22,027) $ 14,322 $28,215 $ 1,801 $ 1,206
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Fully diluted earnings (loss) per share:
Income (loss) from continuing operations $(2.34) $1.45 $ 0.49 $ 0.25 $0.19
Discontinued operations -- -- 2.41 (0.02) --
-------- -------- ------- ------- -------
Net income (loss) $(2.34) $1.45 $ 2.90 $ 0.23 $0.19
======== ======== ======= ======= =======
Weighted average shares outstanding - fully diluted 9,429 9,898 9,744 7,801 6,310
======== ======== ======= ======= =======
Consolidated Balance Sheet Data:
Working capital $ 38,554 $ 72,009 $47,729 $ 5,925 $(1,441)
Total assets 148,354 109,503 80,486 12,740 7,260
Long-term obligations 16,769 555 508 165 931
Redeemable convertible preferred stock -- -- -- -- 250
Stockholders' equity 29,448 53,992 55,490 8,867 174