Avid 1997 Annual Report Download - page 5

Download and view the complete annual report

Please find page 5 of the 1997 Avid annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 58

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58

highlights
Statements of Operations Highlights $ in thousands (except per share data)
Balance Sheet Highlights
93 94 95 96 97
year
93 94 95 96 97
year
20.4
32.4
63.4
28.4
9.8
cash +
marketable
securities
($ in millions)
93 94 95
96
97
year
*
*
*
net income (loss)
($ in millions)
inventories
($ in millions)
93 94 95 96 97
year
net revenues
($ in millions)
year ended December 31,
year ended December 31,
financialhighlights
93 94 95 96 97
year
year-end
employee
headcount
1997 1996 1995 1994 1993
Net revenues $471,338 $429,009 $406,650 $233,633 $134,366
Gross margin 53.0% 44.3% 51.1% 53.7% 54.6%
Operating income (loss) 30,113 (59,363)* 22,647* 23,412 6,520*
As a percent of revenues 6.4% (13.8%) 5.6% 10.0% 4.9%
Earnings per share-diluted $1.08 $(1.80) $0.77 $0.99 $0.40
*In 1996, 1995 and 1993 the Company incurred non-recurring charges of $29.0 million, $5.5 million and $3.8 million,
respectively. The 1996 charges related principally to restructuring, product transition costs and the Company’s decision
not to release a product line. The 1995 and 1993 charges related to merger costs and the purchase of incomplete
technology, respectively.
1997 1996 1995 1994 1993
Cash + marketable securities $186,962 $94,040 $80,492 $51,891 $59,550
Accounts receivable, net 79,773 86,187 107,859 54,805 28,474
Inventories 9,842 28,359 63,387 32,401 20,445
Working capital 186,474 145,320 162,260 86,513 91,473
Total assets 356,805 300,979 331,604 182,174 132,355
Total stockholders’ equity 241,794 213,415 247,966 127,887 106,732
Book value per share $10.42 $10.00 $11.84 $7.73 $6.69
Employees at year end 1,599 1,663 1,476 971 551
$ in thousands
(except per share data and employees)
*Excludes after tax
non-recurring charges