|
|
|
|
| |
|
|
| |
|
VIALTA,
INC.
|
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
(in
thousands)
|
|
(unaudited)
|
| |
|
|
|
|
| |
|
June
30, 2003
|
|
December
31, 2002
|
| Assets |
|
|
|
|
| |
Current
assets: |
|
|
|
|
| Cash
and cash equivalents |
|
$
|
22,752 |
|
$
|
21,863 |
| Short-term
investments |
|
7,509 |
|
10,838 |
| Accounts
receivable |
|
618 |
|
1,362 |
| Inventory
|
|
3,010
|
|
2,834 |
| Prepaid
expenses and other current assets |
|
653
|
|
1,253
|
| Total
current assets |
|
34,542
|
|
38,150
|
| |
|
|
|
|
| Property
and equipment, net |
|
1,322 |
|
2,132
|
| Other
assets |
|
29
|
|
45
|
| |
|
Total
assets |
|
$
|
35,893
|
|
$
|
40,327
|
| |
|
|
|
|
| Liabilities
and Stockholders' Equity |
|
|
|
|
| Current
liabilities: |
|
|
|
|
| Accounts
payable |
|
$
|
929 |
|
$
|
1,164 |
| Accrued
expenses and other |
|
2,327 |
|
3,555
|
| Deferred
profit |
|
1,627
|
|
3,230
|
| |
|
Total
current liabilities |
|
4,883
|
|
7,949
|
| |
|
|
|
|
| |
|
|
|
|
| Redeemable
convertible preferred stock, $0.001 par value
|
|
-
|
|
-
|
| |
|
|
|
|
| Stockholders'
equity: |
|
|
|
|
| Common
stock, $0.001 par value |
|
94 |
|
94 |
| Additional
paid-in capital |
|
144,112 |
|
144,105
|
| Treasury
stock |
|
(9,458) |
|
(9,163) |
| Accumulated
deficit |
|
(103,744) |
|
(102,666) |
| Accumulated
other comprehensive income |
|
6
|
|
8
|
| |
|
Total
stockholders' equity |
|
31,010
|
|
32,378
|
| |
|
|
|
|
| Total
liabilities and stockholders' equity |
|
$
|
35,893
|
|
$
|
40,327
|
| |
|
|
|
|
| |
|
|
|
|
| |
|
Vialta,
Inc.
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
(in
thousands, except per share)
|
|
(unaudited)
|
| |
| |
| |
|
Three
months ended
|
Six
months ended
|
| |
|
June
30,
|
June
30,
|
| |
|
2003
|
|
2002
|
|
2003
|
|
2002
|
| Revenue,
net |
|
$ |
2,520
|
|
$ |
-
|
|
$ |
6,363
|
|
$ |
-
|
| Cost
of goods sold |
|
570
|
|
-
|
|
1,433
|
|
-
|
| Gross
Profit |
|
1,950
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
| Operating
expenses: |
|
|
|
|
|
|
|
|
| Product
costs |
|
$
|
- |
|
$
|
1,137 |
|
$
|
- |
|
$
|
1,137 |
| Engineering
and development |
|
621
|
|
3,981 |
|
1,589 |
|
8,204 |
| Sales
and marketing |
|
641 |
|
732 |
|
1,083 |
|
1,346 |
| General
and administrative |
|
1,974 |
|
1,427 |
|
3,704 |
|
3,239 |
| Amortization
of content licenses |
|
- |
|
947 |
|
-
|
|
1,200 |
|
|
|
|
|
|
|
|
|
|
| Total
operating expenses |
|
3,236
|
|
8,224
|
|
6,376
|
|
15,126
|
| |
|
|
|
|
|
|
|
|
| Operating loss |
|
(1,286) |
|
(8,224) |
|
(1,446) |
|
(15,126) |
| |
|
|
|
|
|
|
|
|
| Interest
and other income, net |
|
178 |
|
360 |
|
366 |
|
723
|
| |
|
|
|
|
|
|
|
|
| Net
loss |
|
$
|
(1,108)
|
|
$
|
(7,864)
|
|
$
|
(1,080)
|
|
$
|
(14,403)
|
| |
|
|
|
|
|
|
|
|
| Net
loss per share: |
|
|
|
|
|
|
|
|
| Basic |
|
$
|
(0.01)
|
|
$
|
(0.09)
|
|
$
|
(0.01)
|
|
$
|
(0.17)
|
| |
|
|
|
|
|
|
|
|
| Weighted
average common shares: |
|
|
|
|
|
|
|
|
| Basic |
|
82,151
|
|
83,752
|
|
82,194
|
|
84,492
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| |
|
About
Vialta
Vialta
develops, designs and markets unique and innovative
home entertainment and communications products for the
mainstream consumer. The company was formed in April
1999 and is publicly traded on the OTC Bulletin board
under the symbol VLTA. The company is headquartered
in Fremont, California with offices in Los Angeles,
Toronto and Hong Kong. More information about Vialta
can be found at www.vialta.com.
The
matters discussed in this news release include certain
forward-looking statements that involve risks and uncertainties,
including, but not limited to, the possible reduction
of consumer spending, the timely availability and acceptance
of the Company's new and existing products, the impact
of competitive products and pricing, the dependence
on continued growth in demand for consumer products,
and the other risks detailed from time to time in the
SEC reports of Vialta, including the reports on Form
10-K and Form 10-Q. Actual results could differ materially
from those projected in the forward-looking statements.
|
|
|
|
