-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LV6Tjv/DABqSTNXWwiv/dn0qrPJH1tH7IO6C4qsCb7KFjsB5hA2+E9O9rgtvXwln bS4ORE+VxaAF0P+ctu7WMQ== 0001047469-98-010188.txt : 19980318 0001047469-98-010188.hdr.sgml : 19980318 ACCESSION NUMBER: 0001047469-98-010188 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980131 FILED AS OF DATE: 19980317 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: TELEVIDEO SYSTEMS INC CENTRAL INDEX KEY: 0000353779 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER TERMINALS [3575] IRS NUMBER: 942383795 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-11552 FILM NUMBER: 98567203 BUSINESS ADDRESS: STREET 1: 550 E BROKAW RD STREET 2: PO BOX 49048 CITY: SAN JOSE STATE: CA ZIP: 95161 BUSINESS PHONE: 4089548333 10-Q 1 FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 --------- FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED: JANUARY 31, 1998 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _____________ TO ____________ COMMISSION FILE NUMBER: 0-11552 TELEVIDEO, INC. ----------------------------------------------------- (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) DELAWARE 94-2383795 ------------------------------- ------------------- (STATE OR OTHER JURISDICTION OF (IRS EMPLOYER INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.) 2345 HARRIS WAY, SAN JOSE, CALIFORNIA 95131 -------------------------------------------- (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (408) 954-8333 --------- INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS REQUIRED TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH FILING REQUIREMENTS FOR THE PAST 90 DAYS. YES X NO ----- ----- THE NUMBER OF SHARES OUTSTANDING OF REGISTRANT'S COMMON STOCK, AS OF MARCH 12, 1998 IS: 45,547,970. DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS This Prospectus and the Company's Quarterly Report on Form 10-Q for the first quarter ended January 31, 1998, which is incorporated by reference herein, include certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements, other than statements of historical facts, included in this Prospectus that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, including, but not limited to, such matters as future product development, business development, marketing arrangements, future revenues from contracts, business strategies, expansion and growth of the Company's operations and other such matters are forward-looking statements. These statements are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, including the risk factors discussed below, general economic and business conditions, the business opportunities (or lack thereof) that may be presented to and pursued by the Company, changes in law or regulations and other factors, many of which are beyond control of the Company. Prospective investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. TELEVIDEO, INC. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1998 AND 1997 QUARTERLY DATA The condensed consolidated financial statements included herein have been prepared by the management of Televideo, Inc. (the "Company"), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted, pursuant to such rules and regulations, although the Company believes the disclosures which are made are adequate to make the information presented not misleading. Further, the condensed consolidated financial statements reflect, in the opinion of management, all adjustments (which included only normal recurring adjustments) necessary to present fairly the financial position and results of operations as of and for the periods indicated. It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and the notes thereto included in the Company's Report on Form 10-K for the fiscal year ended October 31, 1997. The results of operations for the three-month period ended January 31, 1998, are not necessarily indicative of the results to be expected for the entire fiscal year ending October 31, 1998. 1 TELEVIDEO, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Jan. 31, Oct. 31, ASSETS 1998 1997 -------- -------- CURRENT ASSETS: Cash and cash equivalents $ 2,306 $ 3,604 Accounts receivable, less allowance of $696 in 1998 and $971 in 1997 4,967 4,191 Inventories 4,202 2,923 Prepayments and other 97 220 Loan receivable from major customer 669 900 -------- -------- Total current assets 12,241 11,838 -------- -------- PROPERTY, PLANT AND EQUIPMENT: Land 890 890 Building 1,035 1,035 Production equipment 529 524 Office furniture and equipment 1,141 1,140 Building improvements 1,105 1,105 -------- -------- 4,700 4,694 Less accumulated depreciation and amortization 2,006 1,934 -------- -------- Property, plant and equipment, net 2,694 2,760 Long term receivable from major customer 608 608 INVESTMENTS IN AFFILIATES 2,610 2,712 -------- -------- Total assets $ 18,153 $ 17,918 -------- -------- -------- -------- LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 2,534 $ 1,539 Accrued liabilities 717 730 Income taxes 361 361 -------- -------- Total current liabilities 3,612 2,630 -------- -------- STOCKHOLDERS' EQUITY: Common stock, $.01 par value; Authorized--75,000,000 shares Outstanding--45,547,970 shares in 1998 and 45,404,745 shares in 1997 455 455 Additional paid-in capital 95,687 95,671 Accumulated deficit (81,601) (80,838) -------- -------- Total stockholders' equity 14,541 15,288 -------- -------- Total liabilities and stockholders' equity $ 18,153 $ 17,918 -------- -------- -------- --------
The accompanying notes are an integral part of these financial statements. 2 TELEVIDEO, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED JANUARY 31, 1998 AND JANUARY 31, 1997 (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
1998 1997 ------- ------- NET SALES $ 4,539 $ 4,463 COST OF SALES 4,073 3,858 ------- ------- GROSS PROFIT 466 605 OPERATING EXPENSES: Sales and Marketing 782 774 Research and development 134 186 General and administration 346 292 ------- ------- Total operating expenses 1,262 1,252 ------- ------- Loss from operations (796) (647) INTEREST INCOME, net 30 155 OTHER INCOME, net 4 (21) ------- ------- Net loss $ (762) $ (513) ------- ------- ------- ------- Net loss per share $ (0.02) $ (0.01) ------- ------- ------- ------- Average shares outstanding 45,530 45,405 ------- ------- ------- -------
The accompanying notes are an integral part of these financial statements. 3 TELEVIDEO, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED JANUARY 31, 1998 AND JANUARY 31, 1997 (IN THOUSANDS)
1998 1997 -------- -------- INCREASE (DECREASE) IN CASH: CASH FLOWS FROM OPERATING ACTIVITIES: Net Income (Loss) $ (762) $ (513) Charges (credits) to operations not affecting cash: Depreciation and amortization 71 85 Provision for bad debts (34) - Provision for excess and obsolete inventories 130 - Changes in operating assets and liabilities: Accounts receivable (742) 1,071 Inventories (1,409) 1,651 Prepayments and other 354 4,899 Accounts payable 993 (2,550) Accrued liabilities and royalties (12) 9 ------- ------- Net cash provided by (used in) operating activities (1,411) 4,652 ------- ------- CASH FLOWS FROM INVESTING ACTIVITIES: Net retirements of (additions to) property, plant and equipment (6) 36 Investments in affiliate 103 (150) ------- ------- Net cash provided by (used in) investing activities 97 (114) ------- ------- CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common stock 16 1 ------- ------- Net cash provided by financing activities 16 1 ------- ------- INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,298) 4,539 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 3,604 4,496 ------- ------- CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR $ 2,306 $ 9,035 ------- ------- ------- -------
The accompanying notes are an integral part of these financial statements. 4 TELEVIDEO, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 1998 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: PRINCIPLES OF CONSOLIDATION The condensed consolidated financial statements include the accounts of the Company and certain of its majority owned subsidiaries, after elimination of inter-company accounts and transactions. The Company's investments in joint ventures in the Commonwealth of Independent States, some of which represent a majority interest in the joint venture, are not consolidated due to the lack of reliable financial information from the entity. Such investments are carried at cost. TRANSLATION The Company applies Statement of Financial Accounting Standards No. 52 for purposes of translating foreign currency financial statements of its foreign subsidiaries. Translation gains and losses resulting from the translation of foreign currency financial statements are deferred and classified as adjustments to stockholders' equity. USE OF ESTIMATES In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as revenues and expenses during the reporting period. Actual results could differ from those estimates. CASH AND CASH EQUIVALENTS The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. INVENTORIES Inventories are stated at the lower of cost or market. Costs are computed on a currently adjusted standard basis (which approximates average cost) for both finished goods and work-in-process and includes material, labor and manufacturing overhead costs. The cost of purchased parts is determined on a first-in, first-out basis. Amounts shown are net of reserves for obsolescence of $653,000 and $523,000 in 1998 and 1997, respectively:
Jan. 31, Oct. 31, 1998 1997 -------- -------- Purchased parts and subassemblies $2,215 $1,075 Work-in-process 388 459 Finished goods 1,599 1,389 ------ ------ $4,202 $2,923 ------ ------ ------ ------
5 PROPERTY, PLANT AND EQUIPMENT Depreciation and amortization are provided over the estimated useful lives of the assets using both straight-line and accelerated methods.
Building 40 years Production equipment 1-10 years Office furniture 1-10 years
NET INCOME (LOSS) PER SHARE Net income (loss) per share is based on the weighted average number of shares of Common Stock outstanding during each period. 2. ACQUISITIONS AND DIVESTITURES: ADMOS TECHNOLOGIES INC. During fiscal 1991, the Company acquired through its wholly owned subsidiary, Silicon Logic, Inc., a 20% equity interest in a chip engineering firm (AdMOS Technologies Inc.) in exchange for certain assets and a nominal cash payment, the total value of which was $145,000. The acquisition of this interest had been accounted for on the cost method. This investment was written off in fiscal 1992 due to the continued economic difficulties experienced by AdMOS. In fiscal 1991 and 1992, the Company loaned AdMOS a total of $470,000, which has been partially repaid. The outstanding balance at January 31, 1998 was $4,000. The repayment of a portion of this loan is personally guaranteed by the President and controlling shareholders of AdMOS. Due to the economic difficulties AdMOS is currently experiencing, the principal and interest balances due on this note have been fully reserved. In February 1995, the Company further loaned AdMOS $384,000 at an interest rate of 10% per annum. Approximately $104,000 was repaid to the Company in August 1995. In November 1995, the Company received another $100,000 from AdMOS. The Company has fully reserved the unpaid balance of $184,000 plus accrued interest as of January 31, 1998. TLK, INC. In November 1996, the Company invested $150,000 in exchange for a 20% ownership in TLK, Inc. for the China Power Plant projects in Lin Zhang, Quin Yuan and Henan Provinces in China. The Company expects to have a return on investment within the next twelve months. The investment is accounted for using the cost method. KORAM, INC. On March 3, 1997, the Company deposited $224,820 in escrow in Korea which amount is to be used to purchase a 50% ownership in a restaurant venture in Seoul, Korea. The amount deposited has been written down to $109,820 due to the devaluation of the Korean won. 6 APPLIED PHOTONICS TECHNOLOGY, INC. On April 16, 1997, the Company entered into a Common Stock Purchase agreement with Applied Photonics Technology, Inc. (APT), a California corporation, whereby the Company purchased a 30% interest in APT for $3.0 million. Founded in October 1996, APT is a developmental stage enterprise specializing in the development of electronics display technology. The anticipated market for APT's outdoor media display system include the high end of billboard and illuminated sign markets, sports stadiums and arenas, transportation terminals, volume retailers and malls, and safety/public information displays. APT has not recorded any sales to date. APT estimates its first sales to commence towards the end of fiscal 1998. The Company accounts for its investment in APT using the equity method of accounting. The excess of the cost of the investment over the book value of the 30% interest acquired totaled $2,054,366 and is being amortized to operations over a 5 year period. For the year ended October 31, 1997, the Company recorded a loss from this investment of $623,097 of which $233,079 represented amortization of the excess investment cost over book value. THREE H Three H Partners (owned equally by TeleVideo and a Russian entity) was formed in fiscal 1991 and the initial investment was $16,000. In July 1996, the Company further invested $60,000 in the joint venture. TELEVIDEO-RUS In January 1996, TeleVideo set up a company called "TeleVideo-RUS" in the Commonwealth of Independent States with an initial investment of $150,000. The main purpose of this company is to act as a liaison between TeleVideo and the authorities in the CIS. In October 1997, the Company received $250,000 from the sale of Televideo-RUS. The Company recognized a $100,000 profit during fiscal 1997. At the indicated dates the Company had the following investments in affiliates and joint ventures: (in thousands)
Jan. 31, Oct. 31, 1998 1997 -------- -------- TLK, Inc. $ 150 $ 150 Three H 76 76 Koram 110 110 Applied Photonics Technology 2,274 2,377 ------ ------ $2,610 $2,713 ------ ------ ------ ------
7 3. LETTER OF CREDIT AGREEMENT: The Company has a $3.0 million line of credit agreements with the banks. The agreements are secured by $2.0 million in time deposit and $1.0 million in accounts receivable which altogether can be used for standby and sight letter of credits and for operating loans. At January 31, 1998, the Company had letters of credit outstanding of approximately $994,000. 4. INCOME TAXES: The Company adopted, effective November 1, 1993, Statement of Financial Accounting Standards (SFAS) No. 109, "Accounting for Income Taxes," issued in February 1992. Under the liability method specified by SFAS 109, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates which will be in effect when these differences reverse. Deferred tax expense is the result of changes in deferred tax assets and liabilities. As of January 31, 1998, the only issue pending is California Franchise Tax exposure resulting from the previous Federal Income Tax audits. The Company believes that a resolution of this audit could occur in fiscal 1998 and its maximum exposure will not exceed $350,000. The Company has accrued this full amount as of January 31, 1998. 5. LITIGATION AND OTHER: The Company has been named, along with dozens of other manufacturers, designers, and distributors of computer equipment, as a defendant in several lawsuits regarding product liability in connection with the alleged defective design of computer terminal keyboards and the size of the computer monitor screens. The first issue alleges that the various plaintiffs have suffered some form of severe wrist injury from the use of said keyboards. The second issue alleges that there was false advertising which claimed that the video screens were 17 inches in size, when in reality they were only 15 inches. The Company's attorneys have prepared a defense for these cases and the Company's insurance carriers are informed of the plaintiff's claims. The Company intends to vigorously defend against the allegations of these suits. Management believes that the ultimate outcome of these lawsuits will not have a material adverse effect on the Company's financial position. 6. RELATED PARTY TRANSACTIONS: During 1998 and 1997 the Company has had transactions with its affiliates as follows (in thousands):
Jan. 31, Oct. 31, 1998 1997 -------- -------- Note receivable: AdMOS (1) $ 4 $ 4 AdMOS (1) 180 180 Interest receivable: AdMOS (1) 68 68 AdMOS (1) 64 60 (1) Amounts are fully reserved.
8 7. TRANSACTIONS WITH MAJOR CUSTOMER The Company has entered into the following transactions with one of its major customers, Applied Computer Technology, Inc., (ACT). Sales to ACT for the year ended October 31, 1997 aggregated approximately $3,308,000 or 16.6% of net sales. 1) In June, 1997, the Company loaned ACT $2,300,000. Interest on the loan accrues at 2% per month. All interest income accrued on the loan is being deferred by the Company until the amounts are received. As of October 31, 1997, the loan principal balance was $900,000. The loan has since been paid down to $500,000. Management expects full repayment of principal and accrued interest in March, 1998. 2) At October 31, 1997, ACT owed the Company approximately $2.1 million in trade receivables, which represented approximately 41% of net trade receivables. Subsequent to year end, the Company agreed to exchange $900,000 of outstanding trade receivables for $900,000 of Series A convertible preferred stock of ACT. The preferred shares are convertible into common stock at the option of the holder, based on the 5 day average closing bid price of ACT common stock prior to conversion, subject to a floor of $2.50 per share and a ceiling of $4.25 per share. ACT has the obligation to register the shares by filing a registration statement with the Securities and Exchange Commission and the preferred shares will be automatically converted once the registration statement becomes effective. The preferred shares were issued in December 1997. As of January 31, 1998, the Company has reflected the $900,000 as a long term receivable and has further provided a reserve of $292,500 against the $900,000 to reflect the fair value of the preferred shares ultimately issued, taking into consideration the lack of liquidity of the securities. In summary, at October 31, 1997, the Company's balance sheet reflects net assets of $2,704,000 from ACT, $1,196,000 in trade receivables, $900,000 in current loans receivable and $608,000 in a net long term receivable subsequently converted into preferred stock. 9 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. RESULTS OF OPERATIONS Net sales for the first quarter of fiscal 1998 were approximately $4.54 million, an increase of approximately 1.7% from the approximately $4.46 million in net sales reported in the first quarter of fiscal 1997. The increase in net sales was mainly due to the increase in sales of the monitor products, which was introduced in the first quarter 1997 to $1.3 million in the first quarter of fiscal 1998, offset by a decrease in multimedia sales from $2.2 million in the first quarter of fiscal 1997 to $1.3 million in the first quarter of fiscal 1998. Net sales of terminals and other products were quite steady which remained at the $2.2 million level. Cost of sales increased from $3.86 million in the first quarter of fiscal 1997 to $4.07 million in the first quarter of fiscal 1998, an increase of $215,000 or 5.6%. Sales and marketing expenses decreased as a percentage of sales from approximately 17.4% in the first quarter of fiscal 1997 to 17.2% in the first quarter of fiscal 1998, while actual expenses increased from $774,000 in the first quarter of fiscal 1997 to $782,000 in the first quarter of fiscal 1998, an increase of more than 1% from the prior year. Research and development expenses decreased as a percentage of sales from approximately 4.2% in the first quarter of fiscal 1997 to 3.0% in the first quarter of fiscal 1998, while actual expenses decreased from $186,000 to 134,000 during the same period in 1998, a decrease of 27.7%. General and administrative expenses increased as a percentage of sales from approximately 6.5% in the first quarter of fiscal 1997 to 7.6% in the first quarter of fiscal 1998, while actual expenses increased from $292,000 in the first quarter of fiscal 1997 to $346,000 during the same period in 1998, or 18.6%. The loss from operations increased from $647,000 in the first quarter of fiscal 1997 to $796,000 in the first quarter of fiscal 1998, a $135,000 increase or 23.2%. Interest income earned decreased from $155,000 in the first quarter of fiscal 1997 to $30,000 in the first quarter of fiscal 1998, a 80.6% decrease compared to the same period last year. Net loss for the first quarter of fiscal 1998 was approximately $762,000, compared with a net loss of $513,000 in the first quarter of fiscal 1997, a 48.5% increase. As a result of the foregoing, net loss per share in the first quarter of fiscal 1998 was $0.02, based on 45,529,570 weighted average shares outstanding, compared to a net loss per share in the first quarter of fiscal 1997 of $0.01, based on 45,404,745 weighted average shares outstanding. No income tax expense or credit was provided for in the quarter ended January 31, 1998, as the Company has adequate net operating loss and credit carryovers to offset future federal and state corporate income tax liabilities. No net deferred tax asset has been recognized by the Company for any future tax benefit to be provided from the loss carry forwards since realization of any such benefit is not assured. Inflation had no significant impact on the Company's business or results of operations. 10 LIQUIDITY AND CAPITAL RESOURCES Cash and cash equivalents totaled approximately $2.3 million at January 31, 1998, down $1.3 million from fiscal year October 31, 1997 levels of $3.6 million. The decrease in the cash and cash equivalents resulted primarily from the net operating loss in the first quarter ending January 31, 1998 and the changes in operating assets during the same period. Net accounts receivable increased by $776,000 from $4.2 million in fiscal year ending October 31, 1997 to $5.0 million in the first quarter ending January 31, 1998 an increase of 18.5%. Net inventories increased to $4.2 million during the first quarter of fiscal 1998 from $2.9 million in fiscal year ending October 31, 1997, an increase of $1.3 million or 43.7%. Working capital at the end of the first quarter of fiscal 1998 was approximately $8.6 million, down approximately 6.5% from the fiscal 1997 year-end level of approximately $9.2 million. At the current consumption rate, the Company's cash balance of approximately $2.3 million at January 31, 1998, (which includes $2.0 million pledged as security for stand-by and sight letters of credit) plus revenues from operations and other non-operating cash receipts was deemed adequate to fund the Company's fiscal 1998 operations at projected levels. 11 PART II. OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS. See Note 5 of "Notes to Condensed Consolidated Financial Statements." ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K. (a) EXHIBIT(S). Exhibit 27.0 Financial Data Schedule. (b) REPORTS ON FORM 8-K. None. [The remainder of this page is intentionally left blank.] 12 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. TELEVIDEO, INC. ----------------------------------- (REGISTRANT) DATE: MARCH 16, 1998 BY: /s/ K. PHILIP HWANG ----------------------------------- DR. K. PHILIP HWANG CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER /s/ KEN HO CHONG ----------------------------------- KEN HO CHONG VICE PRESIDENT AND CHIEF FINANCIAL OFFICER 13 EX-27 2 EXHIBIT 27
5 1,000 3-MOS OCT-31-1998 NOV-01-1997 JAN-31-1998 2,306 0 5,663 696 4,202 12,241 4,700 2,006 18,153 3,612 0 0 0 455 14,086 18,153 4,539 4,587 4,073 5,335 14 0 10 (762) 0 (762) 0 0 0 (762) (0.02) (0.02)
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