|
|
|
|
| |
|
|
| |
|
VIALTA,
INC.
|
|
CONDENSED
CONSOLIDATED BALANCED SHEETS
|
|
(in
thousands)
|
|
(unaudited)
|
| |
|
|
|
|
| |
|
December
31, 2003
|
|
December
31, 2002
|
| Assets |
|
|
|
|
| |
Current
assets: |
|
|
|
|
| Cash
and cash equivalents |
|
$
|
13,756 |
|
$
|
21,863 |
| Restricted
cash |
|
2,226 |
|
- |
| Short-term
investments |
|
10,552 |
|
10,838 |
| Accounts
receivable |
|
3,941 |
|
1,362 |
| Inventory
|
|
5,196 |
|
2,834 |
| Prepaid
expenses and other current assets |
|
729
|
|
1,253
|
| Total
current assets |
|
36,400
|
|
38,150
|
| |
|
|
|
|
| Property
and equipment, net |
|
685 |
|
2,132
|
| Other
assets |
|
29
|
|
45
|
| |
|
Total
assets |
|
$
|
37,114
|
|
$
|
40,327
|
| |
|
|
|
|
| Liabilities
and Stockholders' Equity |
|
|
|
|
| Current
liabilities: |
|
|
|
|
| Accounts
payable |
|
$
|
1,915 |
|
$
|
1,164 |
| Accrued
expenses and other |
|
3,149 |
|
3,555
|
| Deferred
profit |
|
3,997
|
|
3,230
|
| |
|
Total
current liabilities |
|
9,061
|
|
7,949
|
| |
|
|
|
|
| |
|
|
|
|
| Redeemable
convertible preferred stock, $0.001 par value
|
|
-
|
|
-
|
| |
|
|
|
|
| Stockholders'
equity: |
|
|
|
|
| Common
stock, $0.001 par value |
|
95 |
|
94 |
| Additional
paid-in capital |
|
144,114 |
|
144,105
|
| Treasury
stock |
|
(9,458) |
|
(9,163) |
| Accumulated
deficit |
|
(106,709) |
|
(102,666) |
| Accumulated
other comprehensive income |
|
11
|
|
8
|
| |
|
Total
stockholders' equity |
|
28,053
|
|
32,378
|
| |
|
|
|
|
| Total
liabilities and stockholders' equity |
|
$
|
37,114
|
|
$
|
40,327
|
| |
|
|
|
|
| |
|
|
|
|
| |
|
Vialta,
Inc.
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
(in
thousands, except per share)
|
|
(unaudited)
|
| |
| |
| |
|
Three
months ended
|
Six
months ended
|
| |
|
December
31,
|
December
31,
|
| |
|
2003
|
|
2002
|
|
2003
|
|
2002
|
| Revenue,
net |
|
$ |
2,684
|
|
$ |
-
|
|
$ |
10,331
|
|
$ |
-
|
| Cost
of goods sold |
|
991
|
|
-
|
|
2,941
|
|
-
|
| Gross
Profit |
|
1,693
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
| Operating
expenses: |
|
|
|
|
|
|
|
|
| Product
costs |
|
$
|
- |
|
$
|
- |
|
$
|
- |
|
$
|
10,421 |
| Engineering
and development |
|
488 |
|
2,121 |
|
2,557 |
|
13,264 |
| Sales
and marketing |
|
2,797 |
|
977 |
|
4,427 |
|
3,100 |
| General
and administrative |
|
958 |
|
1,188 |
|
5,753 |
|
5,643 |
| Amortization
of content licenses |
|
- |
|
9,247 |
|
-
|
|
11,395 |
|
|
|
|
|
|
|
|
|
|
| Total
operating expenses |
|
4,243
|
|
13,533
|
|
12,737
|
|
48,823
|
| |
|
|
|
|
|
|
|
|
| Operating loss |
|
(2,550) |
|
(13,533) |
|
(5,347) |
|
(48,823) |
| |
|
|
|
|
|
|
|
|
| Interest
income and other. |
|
|
|
|
|
|
|
|
| Interest
income, net |
|
199 |
|
180 |
|
733 |
|
1,244 |
| Gain
on investment |
|
571
|
|
-
|
|
571
|
|
-
|
| Total
interest income and other |
|
770
|
|
180
|
|
1,304
|
|
1,244
|
| |
|
|
|
|
|
|
|
|
| Net
loss |
|
$
|
(1,780)
|
|
$
|
(13,353)
|
|
$
|
(4,043)
|
|
$
|
(42,579)
|
| |
|
|
|
|
|
|
|
|
| Net
loss per share: |
|
|
|
|
|
|
|
|
| Basic |
|
$
|
(0.02)
|
|
$
|
(0.16)
|
|
$
|
(0.05)
|
|
$
|
(0.51)
|
| |
|
|
|
|
|
|
|
|
| Weighted
average common shares outstanding:: |
|
|
|
|
|
|
|
|
| Basic
and diluted |
|
82,523
|
|
83,246
|
|
82,285
|
|
83,578
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| |
|
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
and Hong Kong.
Forward-Looking
Statements
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, the risk that products
shipped by the Company will be returned, 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.
|
|
|
|
