EXHIBIT 99.1
OPENWAVE SYSTEMS INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Years ended June 30,
-----------------------------
2000 1999 1998
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Revenues:
License....................................... $ 93,126 $ 32,076 $ 17,984
Maintenance and support services.............. 25,835 13,507 4,396
Professional services......................... 27,447 14,800 6,558
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Total revenues.............................. 146,408 60,383 28,938
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Cost of revenues:
License....................................... 6,742 3,046 1,663
Maintenance and support services.............. 14,889 5,797 2,700
Professional services......................... 16,971 8,685 5,161
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Total cost of revenues...................... 38,602 17,528 9,524
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Gross profit................................ 107,806 42,855 19,414
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Operating expenses:
Research and development...................... 59,889 28,934 17,822
Sales and marketing........................... 68,421 33,597 19,541
General and administrative.................... 24,061 12,099 7,277
Stock-based compensation...................... 10,184 2,236 335
Amortization of goodwill and other intangible
assets....................................... 216,614 329 --
In-process research and development........... 27,700 3,210 --
Merger, acquisition, and integration related
costs........................................ 10,395 -- --
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Total operating expenses.................... 417,264 80,405 44,975
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Operating loss.............................. (309,458) (37,550) (25,561)
Interest income, net............................ 23,220 2,829 446
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Loss before income taxes.................... (286,238) (34,721) (25,115)
Income taxes.................................... (2,019) (2,316) (446)
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Net loss.................................... $(288,257) $(37,037) $(25,561)
Accretion on redeemable convertible preferred
stock.......................................... -- (403) (825)
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Net loss attributable to common
stockholders............................... $(288,257) $(37,440) $(26,386)
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Basic and diluted net loss attributable to
common stockholders per share.................. $ (2.06) $ (0.52) $ (0.47)
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Shares used in computing basic and diluted net
loss attributable to common stockholders per
share.......................................... 139,921 71,514 56,617
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