ActivIdentity Corporation
Condensed Consolidated Balance Sheets
(In thousands)
June 30, 2006 (Unaudited) ASSETS Current assets: Cash and cash equivalents Short-term investments Accounts receivable, net Inventories Prepaid and other current assets Total current assets Property and equipment, net Other intangible assets, net Other long-term assets Goodwill Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable Accrued compensation and related benefits Current portion of accrual for restructuring liability Accrued and other current liabilities Current portion of deferred revenue Total current liabilities Deferred revenue, net of current portion Long-term portion of accrual for restructuring liability, net of current portio Long-term deferred rent Total liabilities Minority interest Shareholders' equity: Common stock Deferred employee stock-based compensation Accumulated deficit Accumulated other comprehensive loss Total shareholders' equity Total liabilities and shareholders' equity (1) Derived from audited consolidated financial statements. $ $ 1,960 5,281 809 3,702 8,697 20,449 857 2,366 961 24,633 1,145 419,834 (236,860) (14,477) 168,497 194,275 $ $ 14,227 122,821 6,311 1,252 2,988 147,599 2,942 6,663 991 36,080 194,275
September 30, 2005 (1)
$
13,167 140,387 7,156 1,649 3,630 165,989 3,116 9,323 757 36,162
$
215,347
$
1,696 6,071 1,209 5,213 6,580 20,769 1,877 2,986 1,056 26,688 1,240 417,809 (615) (214,731) (15,044) 187,419
$
215,347
ActivIdentity Corporation
Condensed Consolidated Statement of Cash Flows
(In thousands) (Unaudited)
Nine Months Ended June 30, 2006 2005 Cash flows from operating activities: Net loss from operations Adjustments to reconcile loss from operations to net cash used by operating activities: Depreciation and amortization Amortization and impairment of acquired developed technology Impairment of goodwill Write-down of acquired intangible assets Amortization of acquired intangible assets In-process research and development Amortization of employee stock-based compensation Loss on disposal of property and equipment Minority interest Changes in: Accounts receivable Inventories Prepaid and other current assets Accounts payable Accrued compensation and related benefits Accrual for restructuring, business realignment, and severance benefits Accrued and other current liabilities Deferred revenue Deferred rent Net cash used in operating activities Cash flows from investing activities: Purchases of property and equipment Purchases of short-term investments Proceeds from sales and maturities of short-term investments Cash used in acquisitions Acquisition of ActivCard S.A. minority interest Other long-term assets Net cash provided by (used in) investing activities Cash flows from financing activities: Proceeds from sale of common stock Repayment of short-term borrowings Net cash provided by financing activities Effect of exchange rate changes Net decrease in cash and cash equivalents Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period $ $ (22,129) $ (37,820)
1,177 1,989 671 2,569 160 (97) 1,037 464 682 196 (895) (1,039) (888) 1,005 (39) (15,137) (1,139) (89,584) 107,911 (746) (216) 16,226 70 70 (99) 1,060 13,167 14,227 $
1,399 4,850 9,426 2,352 859 537 201 74 4 (4,188) 198 13 (127) (2,287) (728) 405 (3,675) 16 (28,491) (611) (14,953) 61,675 (7,162) (59) (28) 38,862 2,813 (1,490) 1,323 (19) 11,675 17,113 28,788
ActivIdentity Corporation
Condensed Consolidated Statement of Operations
(In thousands, except per share amounts) (Unaudited)
Three Months Ended June 30, 2006 2005 Revenue: Software Hardware License Maintenance and support Total revenue Cost of revenue: Software Hardware License Maintenance and support Amortization and impairment of acquired developed technology Total cost of revenue Gross profit Operating expenses: Sales and marketing Research and development General and administration Restructuring, business realignment, and severance benefits Amortization of acquired intangible assets Write-down of acquired intangible assets Impairment of goodwill In-process research and development Total operating expenses Loss from operations Other income (expense): Interest income, net Other income (expense), net Equity in net loss of Aspace Solutions Limited Total other income (expense), net Loss from operations before income tax and minority interest Income tax provision Minority interest Net loss Net loss per share Shares used to compute basic and diluted net loss per share $ $ $ 4,877 4,711 3,355 12,943 1,426 2,707 1,093 663 5,889 7,054 6,722 4,907 2,593 20 123 14,365 (7,311) 1,215 938 2,153 (5,158) (130) 27 (5,261) (0.12) 45,349 $ $ $ 2,653 3,124 4,100 2,158 12,035 945 1,523 23 578 237 3,306 8,729 6,846 4,353 2,529 733 233 14,694 (5,965) 1,069 (683) 386 (5,579) (12) (34) (5,625) (0.13) 43,632 $ $ $
Nine Months Ended June 30, 2006 2005 15,046 10,863 9,598 35,507 3,577 6,453 2,797 1,989 14,816 20,691 20,495 14,341 9,734 814 671 46,055 (25,364) 3,330 (9) 3,321 (22,043) (183) 97 (22,129) (0.49) 45,218 $ $ $ 12,651 9,601 4,100 6,394 32,746 3,345 5,195 23 1,841 4,850 15,254 17,492 21,936 13,357 8,172 1,142 859 2,352 9,426 537 57,781 (40,289) 3,208 (613) 2,595 (37,694) (122) (4) (37,820) (0.87) 43,258