EX-99.1 3 dex991.htm SELECTED FINANCIAL DATA Selected Financial Data

Exhibit 99.1

 

SELECTED FINANCIAL DATA

 

The following tables set forth selected consolidated financial data for each of the years in the five-year period ended June 30. The results for the fiscal year ended June 30, 2004 are not necessarily indicative of the results for any future period. The selected consolidated financial data set forth below should be read in conjunction with our consolidated financial statements as of June 30, 2004 and 2003 and for each of the years in the three-year period ended June 30, 2004 and notes thereto set forth in Exhibit 99.3 and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

 

     Fiscal Year Ended June 30,

     2004

    2003

    2002

    2001

    2000

     (In thousands, except per share data)

CONSOLIDATED STATEMENTS OF OPERATIONS DATA:

                                      

Net sales

   $ 295,658     $ 300,996     $ 216,238     $ 228,346     $ 228,704

Costs and expenses:

                                      

Cost of sales

     158,688       142,399       108,105       131,651       110,032

Engineering and product development

     36,916       34,109       28,872       31,743       27,676

Sales, marketing and service

     93,387       83,956       67,247       60,855       54,589

General and administrative

     22,025       19,019       15,607       13,711       10,537

Amortization of goodwill

     —         —         12,569       8,897       6,982

Amortization of other intangible assets

     4,861       5,579       10,606       9,881       10,147

Impairment of goodwill

     12,311       —         —         —         —  

Restructuring costs

     3,640       —         —         —         —  

In-process research and development

     2,193       —         —         —         3,500

Legal settlement

     —         —         —         —         2,102

Acquisition settlement

     —         —         —         12,880       —  
    


 


 


 


 

Total costs and expenses

     334,021       285,062       243,006       269,618       225,565
    


 


 


 


 

Operating income (loss)

     (38,363 )     15,934       (26,768 )     (41,272 )     3,139

Interest and other income, net

     1,679       2,601       2,208       1,838       3,403

Impairment of equity investments

     —         —         —         (1,658 )     —  
    


 


 


 


 

Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principle

     (36,684 )     18,535       (24,560 )     (41,092 )     6,542

Income tax expense

     4,721       3,220       5,478       7,616       373
    


 


 


 


 

Income (loss) from continuing operations before cumulative effect of change in accounting principle

     (41,405 )     15,315       (30,038 )     (48,708 )     6,169
    


 


 


 


 

Discontinued operations:

                                      

Income (loss) from discontinued operations, net of taxes

     (5,968 )     (17,885 )     (10,045 )     (11,484 )     1,418

Loss on sale of discontinued operations, net of taxes

     (6,820 )     —         —         —         —  
    


 


 


 


 

Income (loss) from discontinued operations

     (12,788 )     (17,885 )     (10,045 )     (11,484 )     1,418
    


 


 


 


 

Income (loss) before cumulative effect of change in accounting principle

     (54,193 )     (2,570 )     (40,083 )     (60,192 )     7,587

Cumulative effect of change in accounting principle

     —         (19,291 )     —         (356 )     —  
    


 


 


 


 

Net income (loss)

   $ (54,193 )   $ (21,861 )   $ (40,083 )   $ (60,548 )   $ 7,587
    


 


 


 


 

Income (loss) per share from continuing operations before cumulative effect of change in accounting principle:

                                      

Basic

   $ (0.62 )   $ 0.25     $ (0.53 )   $ (0.94 )   $ 0.13

Diluted

   $ (0.62 )   $ 0.24     $ (0.53 )   $ (0.94 )   $ 0.11

Income (loss) per share from discontinued operations:

                                      

Basic

   $ (0.19 )   $ (0.29 )   $ (0.17 )   $ (0.22 )   $ 0.03

Diluted

   $ (0.19 )   $ (0.29 )   $ (0.17 )   $ (0.22 )   $ 0.03

Cumulative effect per share of change in accounting principle:

                                      

Basic and diluted

   $ —       $ (0.32 )   $ —       $ (0.01 )   $ —  

Net income (loss) per share:

                                      

Basic

   $ (0.81 )   $ (0.36 )   $ (0.70 )   $ (1.17 )   $ 0.16

Diluted

   $ (0.81 )   $ (0.36 )   $ (0.70 )   $ (1.17 )   $ 0.14

Shares used to compute net income (loss) per share:

                                      

Basic

     67,069       61,247       56,859       51,729       48,311

Diluted

     67,069       64,801       56,859       51,729       55,442
     As of June 30,

     2004

    2003

    2002

    2001

    2000

     (In thousands)

CONSOLIDATED BALANCE SHEET DATA:

                                      

Working capital

   $ 81,327     $ 106,616     $ 115,698     $ 114,422     $ 138,330

Total assets

     301,744       310,876       255,703       266,957       322,799

Retained earnings (accumulated deficit)

     (169,487 )     (115,294 )     (93,433 )     (53,350 )     7,198

Shareholders’ equity

   $ 210,682     $ 226,157     $ 205,908     $ 220,362     $ 259,620

 

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