8x8 1999 Annual Report Download - page 30

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PART II
ITEM 5.MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED SECURITY HOLDER MATTERS
The Company effected its initial public offering on July 2, 1997. Since that date, 8x8's common stock has been traded on the Nasdaq National
Market under the symbol "EGHT." No dividends have ever been paid or declared on 8x8's common stock. The Company currently does not
anticipate paying any cash dividends on its capital stock in the foreseeable future. As of March 31, 1999, there were 279 holders of record of
the Company's common stock. Many of the Company's shares of common stock are held by brokers and other institutions on behalf of
stockholders, therefore, the Company is unable to determine the total number of stockholders represented by these record holders. Responses
from brokers and other institutions regarding shares held on behalf of other stockholders indicate that there were at least 12,400 such other
stockholders as of March 31, 1999.
PRICE RANGE OF COMMON STOCK
On February 17, 1998, the Company, issued to Stanford University a warrant to purchase 10,000 shares of the Company's common stock at a
per share exercise price of $5.50, then equal to its fair market value. This warrant expired on February 17, 1999. This warrant and the
underlying shares are not registered under the Securities Act of 1933, as amended, and were issued pursuant to the exemption provided by
Section 4 (2) of such Act.
ITEM 6. SELECTED FINANCIAL DATA
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
OVERVIEW
manufacture and marketing of multimedia communication semiconductors, software and systems. As part of this strategy, the Company
discontinued sales of its MPEG semiconductor product line and reduced its workforce in the quarter ended June 30, 1996.
To date, the Company has marketed its line of multimedia communication semiconductors and related technology to OEMs and distributors,
mainly for videoconferencing and videophone applications. This product line includes the LVP, VCP and VCPex semiconductors.
26
PERIOD HIGH LOW
------ ---- ---
Fiscal 1998
Second Quarter (from July 2, 1997)........................ $11 13/16 $ 6 5/8
Third Quarter............................................. $16 $10 7/16
Fourth Quarter............................................ $10 7/8 $ 5 1/2
Fiscal 1999
First Quarter............................................. $ 7 1/8 $ 5
Second Quarter............................................ $ 5 1/16 $ 1 7/8
Third Quarter............................................. $ 9 3/8 $ 2 1/4
Fourth Quarter............................................ $ 7 $ 3 11/16
YEAR ENDED MARCH 31,
-----------------------------------------------------
1999 1998 1997 1996 1995
-------- ------- -------- ------- -------
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Total revenues......................... $ 31,682 $49,776 $ 19,146 $28,774 $19,929
Net income (loss)...................... (19,224) 3,727 (13,613) (3,217) (5,881)
Net income (loss) per share:
Basic................................ $ (1.28) $ 0.31 $ (2.56) $ (0.70) $ (1.34)
Diluted.............................. $ (1.28) $ 0.25 $ (2.56) $ (0.70) $ (1.34)
Total assets........................... $ 28,709 $46,429 $ 12,727 $23,067 $20,644