8x8 1998 Annual Report Download - page 34

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8X8 INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
The accompanying notes are an integral part of these financial statements.
30
YEAR ENDED MARCH 31,
------------------------------
1998 1997 1996
------- -------- -------
Product revenues............................................ $34,933 $ 12,771 $17,772
Product revenues from related parties....................... 355 2,521 2,037
License and other revenues.................................. 14,488 3,854 7,215
License and other revenues from related parties............. -- -- 1,750
------- -------- -------
Total revenues.................................... 49,776 19,146 28,774
------- -------- -------
Cost of product revenues.................................... 17,764 12,030 16,668
Cost of license and other revenues.......................... 1,087 -- --
------- -------- -------
Total cost of revenues............................ 18,851 12,030 16,668
------- -------- -------
Gross profit................................................ 30,925 7,116 12,106
------- -------- -------
Operating expenses:
Research and development.................................. 12,317 10,510 7,714
Selling, general and administrative....................... 17,381 10,098 7,938
Restructuring costs....................................... -- 59 603
------- -------- -------
Total operating expenses.......................... 29,698 20,667 16,255
------- -------- -------
Income (loss) from operations............................... 1,227 (13,551) (4,149)
Other income, net........................................... 1,518 120 952
------- -------- -------
Income (loss) before income taxes........................... 2,745 (13,431) (3,197)
(Benefit) provision for income taxes........................ (982) 182 20
------- -------- -------
Net income (loss)........................................... $ 3,727 $(13,613) $(3,217)
======= ======== =======
Net income (loss) per share:
Basic..................................................... $ 0.31 $ (2.56) $ (0.70)
Diluted................................................... $ 0.25 $ (2.56) $ (0.70)
Shares used in per share calculations:
Basic..................................................... 12,083 5,312 4,598
Diluted................................................... 15,128 5,312 4,598