SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Sonicwall Inc. - SNWL

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: caly who wrote (45)4/20/2001 1:34:42 PM
From: caly  Read Replies (1) of 63
 
PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS
Excluding Amortization of Goodwill and Other Acquisition-Related
Charges and Stock Based Compensation
(In thousands, except per share amounts)
(Unaudited)

Quarter Ended
March 31, March 31,
2001 2000

Revenue:
Product $19,966 $12,047
License and Subscription 4,608 1,360
-------- --------
Total Revenue 24,574 13,407

Cost of Revenue:
Product 5,739 3,623
License and Subscription 164 37
-------- --------
Total Cost of Revenue 5,903 3,660
-------- --------
Gross Margin 18,671 9,747
-------- --------
Operating Expenses:
Research and development 5,394 1,985
Sales and marketing 6,722 2,602
General and administrative 1,985 861
-------- --------
Total Operating Expenses 14,101 5,448
-------- --------
Income from Operations 4,570 4,299
Other Income, net 3,010 1,209
-------- --------
Income Before Taxes 7,580 5,508
Provision for Income Taxes (2,426) (1,928)
-------- --------
Net Income $ 5,154 $ 3,580

Net Income
Per Share:
Basic $ 0.08 $ 0.07
Diluted $ 0.08 $ 0.07

Shares Used in
Per Share Calculations:
Basic 62,616 47,898
Diluted 67,257 53,914

The above pro forma amount have been adjusted to exclude the
following items:

Amortization of goodwill
and intangibles 10,227 --
Stock based compensation 926 1,801
Income tax effect (455) --
-------- --------
Net effect of pro
forma adjustments $10,698 $1,801

SonicWALL, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)

Quarter Ended
March 31, March 31
2001 2000

Revenue:
Product $19,966 $12,047
License and Subscription 4,608 1,360
-------- --------
Total Revenue 24,574 13,407

Cost of Revenue:
Product 5,739 3,623
License and Subscription 164 37
-------- --------
Total Cost of Revenue 5,903 3,660
-------- --------

Gross Margin 18,671 9,747
-------- --------

Operating Expenses:
Research and development 5,394 1,985
Sales and marketing 6,722 2,602
General and administrative 1,985 861
Amortization of goodwill
and intangibles 10,227 --
Stock based
compensation 926 1,801
-------- --------
Total Operating Expenses 25,254 7,249
-------- --------

Income (Loss) from Operations (6,583) 2,498
Other Income, net 3,010 1,209
-------- --------
Income (Loss) Before Taxes (3,573) 3,707
Provision for Income Taxes (1,971) (1,928)
-------- --------
Net Income (Loss) $(5,544) $ 1,779

Net Income (Loss)
Per Share:
Basic $ (0.09) $ 0.04
Diluted $ (0.09) $ 0.03

Shares Used in
Per Share Calculations:
Basic 62,616 47,898
Diluted 62,616 53,914

SonicWALL, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

March 31, December 31,
2001 2000
(Unaudited)
ASSETS

Current Assets:
Cash and cash equivalents $107,394 $ 140,287
Short term investments 110,787 79,257
Accounts receivable, net 12,560 11,541
Inventories 2,906 2,509
Prepaid expenses and other 3,146 2,192
Deferred tax asset 18,188 19,171
-------- --------
Total Current Assets 254,981 254,957

Property and Equipment, net 5,220 3,831
Goodwill and other intangibles 230,478 228,711
Other Assets 158 618
-------- --------
$490,837 $488,117
======== ========

LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities:
Accounts payable $ 6,736 $7,867
Accrued compensation
and related benefits 3,082 4,561
Other accrued liabilities 5,896 8,501
Income taxes payable 2,826 2,192
Deferred revenue 10,280 8,812
-------- --------
Total Current Liabilities 28,820 31,933

Deferred tax liability 20,419 20,426
Long-term liabilities 356 --
-------- --------
Total liabilities 49,595 52,359

Shareholders' Equity 441,242 435,758
-------- --------
$490,837 $488,117
======== ========
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext