ALLERION INC.
PRO FORMA
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
The Unaudited Pro Forma condensed financial statement should be read in
conjunction with the historical consolidated financial statements of the Company
and the related notes that were contained in the Company's previously filed
forms 10K, 10Q and 8K. The Unaudited Pro Forma Condensed Financial Statements
are not necessarily indicative of what the financial position and the results of
operations actually would have been if the sale of France, CSD, Australia, New
Zealand, Ultimate Data Systems, Network Services and the abandonment of Dealer
operations had occurred on the applicable dates. Moreover, they are not intended
to be indicative of future results of operations or financial position.
Three Months Ended Nine Months
January 31, January 31,
------------------- ---------------------
(In thousands except per share amounts) 1995 1994 1995 1994
---- ---- ---- ----
Revenue:
Service .......................................... $ 0 $ 0 $ 0 $ 0
Product .......................................... 0 0 0 0
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Total Revenue ................................. 0 0 0 0
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Cost of Sales:
Service .......................................... 0 0 0 0
Product .......................................... 0 0 0 0
------- ------- ------- --------
Total Cost of Sales ........................... 0 0 0 0
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Gross margin ....................................... 0 0 0 0
Selling, general and administrative expenses ....... 1,476 1,969 5,428 6,120
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Loss from operations ............................... (1,476) (1,969) (5,428) (6,120)
Provision for debt default penalty ................. (1,500)
Interest (expense) income (net) .................... (66) (110) (743) (780)
Unrealized loss on short term investment ........... (334) (501)
Other expense, net ................................. (638) (792) (61)
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Loss before income taxes ........................... (2,180) (2,079) (8,797) (7,462)
Provision for income taxes ......................... 0 0 37 0
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Net loss ........................................... ($2,180) ($2,079) ($8,834) ($7,462
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Average number of shares outstanding ............... 10,099 10,740 10,091 10,030
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Net loss per share ................................. ($0.22) ($0.19) ($0.88) ($0.74)
------- ------- ------- -------
See Notes To Consolidated Financial Statements and Item 2, Management's
Discussion and Analysis of Results of Operations and Financial Condition.
1
ALLERION INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
The Unaudited Pro Forma condensed financial statement should be read in
conjunction with the historical consolidated financial statements of the Company
and the related notes that were contained in the Company's previously filed
forms 10K, 10Q and 8K. The Unaudited Pro Forma Condensed Financial Statements
are not necessarily indicative of what the financial position and the results of
operations actually would have been if the sale of France, CSD, Australia, New
Zealand, Ultimate Data Systems, Network Services and the abandonment of Dealer
operations had occurred on the applicable dates. Moreover, they are not intended
to be indicative of future results of operations or financial position.
ASSETS
------
January 31, April 30,
(In thousand except per share amounts) 1995 1994
---------- ---------
Current Assets:
Cash ........................................................................ $ 163 $ 0
Short-term investment (market value of $841 at April 30, 1994) .............. 0 400
Trade Receivables ........................................................... 0 0
Other receivables, net ...................................................... 55 1,141
Inventories, net ............................................................ 0 0
Other current assets ........................................................ 330 834
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Total current assets .................................................... 548 2,375
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Leasehold improvements and equipment, net ................................... 401 1,057
Intangibles, net ............................................................ 958 556
Other assets ................................................................ 623 821
------ ------
Total Assets ............................................................ $2,530 $4,809
====== ======
See Notes To Consolidated Financial Statements and Item 2, Management's
Discussion and Analysis of Results of Operations and Financial Condition.
2
ALLERION INC.
CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Unaudited)
LIABILITIES AND SHAREHOLDERS' DEFICIT
-------------------------------------
January 31, April 30,
(In thousands except per share amounts) 1995 1994
---------- ---------
Current Liabilities:
Accounts payable ............................................................ $ 3,314 $ 3,597
Accrued liabilities ......................................................... 3,049 4,098
Deferred revenue ............................................................ 0 0
Revolving line of credit .................................................... 495 2,429
Current portion of long term debt ........................................... 4,704 4,445
-------- --------
Total current liabilities ............................................... 11,562 14,569
-------- --------
Long-Term Liabilities:
Long-term debt, net of current portion ...................................... 2,823
Other long-term liabilities ................................................. 2,660 2,749
-------- --------
Total long-term liabilities ............................................. 2,660 5,572
-------- --------
Total liabilities ........................................................... 14,222 20,141
-------- --------
Commitments and contingencies
Shareholders' Deficit:
Common stock authorized 30,000,000 shares no par value, shares issued and
10,107,622 shares outstanding at January 31, 1995, 11,315,547 shares
issued and 10,060,948 shares outstanding at April 30, 1994 ................ 16,897 16,835
Accumulated translation adjustment .......................................... 362 341
Accumulated deficit ......................................................... (22,447) (20,944)
Treasury stock at cost, 1,254,599
shares at October 31, 1994 and April 30, 1994 ............................. (11,564) (11,564)
-------- --------
Total Shareholders' Deficit ................................................. (16,752) (15,332)
-------- --------
Total Liabilities and Shareholders' Deficit ................................. $ 2,530 $ 4,809
======== ========
See Notes To Consolidated Financial Statements and Item 2, Management's
Discussion and Analysis of Results of Operations and Financial Condition.
3