Operating loss. As measured over [ ], the Company must reduce operating losses to a total of $[ ] (which represents [ ]% of the Company’s budgeted target of $[ ]).
Operating loss. Suffer or permit any of its Subsidiaries to suffer any aggregate operating loss for two consecutive fiscal quarters which exceeds $400,000; provided, however, that (a) for purposes of determining whether the Borrower and its Subsidiaries have suffered such a loss, any Project Costs incurred by the Borrower or its Subsidiaries shall be excluded, (b) any non-cash extraordinary or non-recurring charges (not to exceed $1,000,000 in the aggregate) shall be excluded, and (c) the results of operations of any Subsidiary established for purposes of opening a new restaurant shall be excluded from any calculation related to compliance with this Section 7.11 for any fiscal quarter which includes at least one full month of the first twelve calendar months following the commencement of operations of the new restaurant operated by such Subsidiary.
Operating loss. 3,675,075 ----------- (3,200,309) -- -------- 88,086 -------- (3,310) 3,555 -------- 62,075 -------- (23,145) Other income: Gain on sale of marketable securities....... 34,996 -- -- Interest income............................. 52,651 7,365 2,280 Other expense, net.......................... Total other income........................ Income (loss) before minority interest........ (1,478)----------- 86,169 ----------- (3,114,140) (936)-------- 6,429 -------- 3,119 (160)-------- 2,120 -------- (21,025) Minority interest in net (income) loss of subsidiary................................... (1,334) 836 1,282 ----------- -------- -------- Net income (loss)............................. $(3,115,474) $ 3,955 $(19,743) =========== ======== ======== Net income (loss) per share: Basic....................................... $ (19.57) $ .04 $ (.24) =========== ======== ======== Diluted..................................... $ (19.57) $ .03 $ (.24) =========== ======== ======== Shares used in per share computation: Basic....................................... 159,169 100,531 83,492 =========== ======== ======== Diluted..................................... 159,169 114,610 83,492 =========== ======== ======== See accompanying notes to consolidated financial statements. VERISIGN, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (In thousands, except share data) Year Ended December 31, ---------------- 2000 1999 1998 ----- ----- ---- Preferred stock: Balance, beginning of year: No shares at January 1, 2000 No shares at January 1, 1999 40,124,024 shares at January 1, 1998..................... $ -- $ -- $ 40 Conversion of preferred stock to common stock (40,124,024) shares in 1998............................................ (40) Balance, end of year: ----- ----- ---- No shares at December 31, 2000, 1999 or 1998............. -- -- -- Common stock: Balance, beginning of year: 103,482,841 shares at January 1, 2000 92,346,768 shares at January 1, 1999 ----- ----- ---- 35,145,704 shares at January 1, 1998..................... 103 92 36 Issuance of common stock: 81,600 shares in 1998.................................... -- -- -- Issuance of common stock through public offerings: 6,390,000 shares in 1999 13,800,000 shares in 1998................................ -- 6 13 Conversion of preferred stock to common stock: 40,124,024 shares in 1998................................ -- -- 40 Issuance of common stock for business combinations: 88,948,676 shares in 2000.............
Operating loss. For each Taxable Year, Operating Loss shall be allocated 92% to the Class A Interest Holder, 7% to the Class B Interest Holders and 1% to the General Partner.
Operating loss. 460 ------- 7,123 ------- (6,719) 9,421 --------- 265,113 --------- (246,969) 1,338 -------- 10,043 -------- (9,639) 11,610 --------- 311,315 --------- (285,949) Interest income (expense), net....................... Loss before provision for income taxes............... (177) ------- (6,896) 3,803 --------- (243,166) (144) -------- (9,783) 7,428 --------- (278,521) Provision for income taxes......................... Net loss............................................. -- ------- (6,896) 70 --------- (243,236) -- -------- (9,783) 112 --------- (278,633) Dividends and accretion to preferred stock redemption value.............................................. 291 -- 295 -- ------- --------- -------- --------- Net loss attributable to common stockholders......... $(7,187) $(243,236) $(10,078) $(278,633) ======= ========= ======== ========= Basic and diluted net loss per share................. $ (0.34) $ (2.78) $ (0.53) $ (3.43) Weighted average common shares outstanding........... 21,166 87,374 18,891 81,251 The accompanying notes are an integral part of these consolidated financial statements. AKAMAI TECHNOLOGIES, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) FOR THE SIX MONTHS ENDED JUNE 30, 1999 2000 Cash flows from operating activities: Net loss.................................................. $(9,783) $(278,633) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization.......................... 571 208,447 Amortization of deferred compensation.................. 1,339 11,611 Interest on notes receivable from officers for stock... -- (171) Amortization of discount on senior subordinated notes and equipment loan................................... 133 -- Loss on disposal of fixed assets....................... 22 -- Acquired in-process research and development........... -- 1,372 Changes in operating assets and liabilities, net of effects of acquired businesses:
Operating loss. 35,760 --------- (29,871) 41,679 -------- (31,499) 24,578 -------- (8,710) 13,690 -------- (8,289) 9,942 -------- (6,811) Other income and expense.... Net loss.................... 2,974 --------- $ (26,897) --------- 817 -------- $(30,682) -------- 1,644 -------- $ (7,066) -------- 968 -------- $ (7,321) -------- 703 -------- $ (6,108) -------- Net loss per share--Basic and diluted................ $ (1.79) $ (2.63) $ (0.66) $ (0.77) $ (0.72) ========= ======== ======== ======== ======== July 31, ------------------------------------------------- 2000 1999 1998 1997 1996 --------- -------- -------- (in thousands) -------- -------- Balance Sheet Data: Cash, cash equivalents and investments................ $ 207,793 $ 17,805 $ 34,828 $ 33,690 $ 18,237 Total assets................ 229,557 38,476 53,690 36,897 20,039 Long-term liabilities....... 25,558 22,308 10,598 35 45 Accumulated deficit......... (114,702) (87,805) (57,123) (50,057) (42,736) Stockholders' equity........ 199,551 11,287 31,281 33,398 19,267 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS General Emisphere Technologies, Inc. is a biopharmaceutical company specializing in the oral delivery of therapeutic macromolecules and other compounds that are not currently deliverable by oral means. Since our inception in 1986, we have devoted substantially all of our efforts and resources to research and development conducted on our own behalf and through collaborations with corporate partners and academic research institutions. We have had no product sales to date. The timing of future product sales depends on many factors, including the progress of our products in development through clinical trials, regulatory approval, commercialization and market acceptance. These and other factors that may impact future results are described under "Risk Factors" below.
Operating loss. 2,184 --------- 22,989 --------- (17,618) 3,469 --------- 26,705 --------- (16,186) 4,593 --------- 122,785 --------- (104,572) 3,777 --------- 947,562 --------- (923,834) Other income (expense) ..................................... Net loss ................................................... 458 --------- (17,160) 1,929 --------- (14,257) 2,356 --------- (102,216) 2,377 --------- (921,457) Accretion on preferred stock ............................... (8,354) --------- --------- --------- --------- Net loss applicable to common stockholders ................. Net loss per basic and diluted common share ................ Weighted average common shares outstanding ................. $ (25,514) ========= $ (0.27) ========= 94,939 ========= $ (14,257) ========= $ (0.10) ========= 142,320 ========= $(102,216) ========= $ (0.71) ========= 144,501 ========= $(921,457) ========= $ (5.91) ========= 156,032 ========= 1998: Revenues ................................................... $ 7,022 $ 9,222 $ 18,993 Cost of revenue: Product costs ............................................ 7,943 8,851 16,702 Supplier warrant costs ................................... --------- --------- 3,029 --------- Total cost of revenues ..................................... Gross profit ............................................... Operating expenses: 7,943 --------- (921) --------- 8,851 --------- 371 --------- 19,731 --------- (738) --------- Warrant costs, net ....................................... 57,979 Sales and marketing ...................................... $ 1,130 6,635 8,160 8,463 General and administrative ............................... 1,697 3,102 9,400 3,806
Operating loss. 1,926 --------- 4,753 --------- (4,753) 3,442 --------- 13,179 --------- (14,100) 2,801 --------- 20,361 --------- (19,990) 2,962 --------- 73,210 --------- (73,948) Other income (expense) ..................................... Net loss ................................................... 50 --------- (4,703) 113 --------- (13,987) 142 --------- (19,848) 244 --------- (73,704) Accretion on preferred stock ............................... --------- --------- --------- (2,183) --------- Net loss applicable to common stockholders ................. Net loss per basic and diluted common share ................ Weighted average common shares outstanding ................. $ (4,703) ========= $ (0.08) ========= 55,487 ========= $ (13,987) ========= $ (0.17) ========= 81,297 ========= $ (19,848) ========= $ (0.19) ========= 105,411 ========= $ (75,887) ========= $ (0.81) ========= 93,168 ========= INDEX TO EXHIBITS Exhibit Number Description -------------- -----------
Operating loss. 671 ------ 3,049 ------ $ (385) ====== 189 ----- 642 ----- $(156) ===== 56 RADIANCE MEDICAL SYSTEMS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) (IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
Operating loss. 122,168 ---------- 422,168 ---------- (422,168) 692,185 ----------- 4,659,474 ----------- (4,659,474) 7,708,740 ------------ 20,304,909 ------------ (20,304,909) 8,523,093 ------------ 25,386,551 ------------ (25,386,551) Interest income..................... Net loss before income taxes........ 33,961 ---------- (388,207) 160,689 ----------- (4,498,785) 2,825,919 ------------ (17,478,990) 3,020,569 ------------ (22,365,982) Income tax expense.................. Net loss............................ 800 ---------- (389,007) 800 ----------- (4,499,585) 800 ------------ (17,479,790) 2,400 ------------ (22,368,382) Return to series C preferred shareholders for beneficial conversion feature................ -- -- (14,231,595) (14,231,595) Loss available to common ---------- ----------- ------------ ------------ shareholders...................... Basic and diluted loss per share.... $ (389,007) ========== $ (0.39) $(4,499,585) =========== $ (1.35) $(31,711,385) ============ $ (2.33) $(36,599,977) ============ ========== Weighted average shares used in =========== ============ computing basic and diluted loss per share......................... 985,961 3,345,397 13,634,513 ========== =========== ============ DECEMBER 31, --------------------------------------- BALANCE SHEET DATA: 1998 ---------- 1999 ---------- 2000 ----------- Cash and cash equivalents............................. $2,333,512 $9,339,669 $78,926,830 Working capital....................................... 2,264,038 9,095,831 77,320,445 Total assets.......................................... 2,382,600 9,441,173 81,147,046 Total liabilities..................................... 108,108 300,587 2,452,378 Series C redeemable convertible preferred stock....... -- -- -- Series B redeemable convertible preferred stock....... -- 9,703,903 -- Series A convertible preferred stock.................. 2,660 2,660 -- Total stockholders' equity (deficit).................. 2,274,492 (563,317) 78,694,668 16 19 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This discussion and analysis should be read in conjunction with our financial statements and accompanying notes included elsewhere in this report. Operating results are not necessarily indicative of results that may occur in future periods. The following discussion contains forward-looking statements that are based upon current expectations. Our actual results and the timing of events may differ significantly from the resul...
