Avid 2004 Annual Report Download - page 55

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41
AVID TECHNOLOGY, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except par value)
December 31,
2004
2003
ASSETS
Current assets:
Cash and cash equivalents
$79,058
$77,124
Marketable securities
76,361
119,185
Accounts receivable, net of allowances of $9,334 and
$9,161 at December 31, 2004 and 2003, respectively
97,536
69,230
Inventories
53,946
38,292
Deferred tax assets, net
653
1,032
Prepaid expenses
7,550
5,117
Other current assets
11,204
7,032
Total current assets
326,308
317,012
Property and equipment, net
29,092
23,223
Intangible assets, net
46,884
1,815
Goodwill
165,803
3,335
Long-term deferred tax assets, net
4,184
–
Other assets
3,963
2,734
Total assets
$576,234
$348,119
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$26,517
$15,755
Accrued compensation and benefits
30,468
23,753
Accrued expenses and other current liabilities
34,902
27,452
Income taxes payable
9,357
8,504
Deferred revenues
48,680
44,943
Total current liabilities
149,924
120,407
Long-term debt and other liabilities
1,689
607
Total liabilities
151,613
121,014
Commitments and contingencies (Notes F, H and I)
Stockholders' equity:
Preferred stock, $0.01 par value, 1,000 shares authorized;
no shares issued or outstanding
–
–
Common stock, $0.01 par value, 50,000 shares authorized;
34,837 and 31,063 shares issued and outstanding
at December 31, 2004 and 2003, respectively
348
311
Additional paid-in capital
546,849
419,981
Accumulated deficit
(122,775)
(194,476)
Deferred compensation
(4,392)
(30)
Accumulated other comprehensive income
4,591
1,319
Total stockholders' equity
424,621
227,105
Total liabilities and stockholders' equity
$576,234
$348,119
The accompanying notes are an integral part of the consolidated financial statements.