Exhibit 99.5
SELECTED SUPPLEMENTAL QUARTERLY CONSOLIDATED FINANCIAL DATA
The following table contains certain supplemental quarterly consolidated
statements of income data for Excel Switching Corporation for each of the four
fiscal quarters for the fiscal year ended December 31, 1998. These statements
are unaudited, but in the opinion of management, include all adjustments,
consisting only of normal recurring adjustments necessary for a fair
presentation of results for the interim periods. Excel Switching Corporation is
providing this information because management deems this information to be of
importance to holders of Common Stock. This data gives retroactive effect to
Excel Switching Corporation's acquisition of RAScom, Inc. completed on May 10,
1999.
Mar. 28, Jun. 27, Sep. 26, Dec. 31,
1998 1998 1998 1998
Revenues $27,105 $30,807 $34,287 $37,140
Cost of revenues 9,122 9,881 10,162 12,589
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Gross profit 17,983 20,926 24,125 24,551
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Operating expenses:
Engineering, research & development 5,540 5,904 6,755 8,164
Selling and marketing 5,041 4,923 5,279 5,629
General and administrative 2,908 2,949 3,193 3,705
Acquired in-process research & development - - - 7,459
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Total operating expenses 13,489 13,776 15,227 24,957
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Income from operations 4,494 7,150 8,898 (406)
Other income, net 1,717 1,482 1,670 1,383
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Income before provision for income taxes 6,211 8,632 10,568 977
Provision for income taxes 2,341 3,246 3,972 1,655
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Net income $ 3,870 $ 5,386 $ 6,596 $ (678)
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Preferred stock dividends $ 379 $ 379 $ 379 $ 381
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Net income available to common stockholders $ 3,491 $ 5,007 $ 6,217 $ (1,059)
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Basic earnings per share $0.11 $0.15 $0.19 $(0.03)
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Diluted earnings per share $0.10 $0.13 $0.16 $(0.02)
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Basic weighted average shares outstanding 32,832 33,178 33,536 34,029
Diluted weighted average shares outstanding 39,983 40,139 40,342 34,029