Plantronics 1998 Annual Report Download - page 10

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P.2
ANNUAL REPORT . 199 8
PLANTRONICS
Consolidated BALANCE SHEETS
MARCH ,
(IN THOUSANDS)1997 1998
ASSETS
Current assets:
Cash and cash equivalents $ 42,262 $ 64,901
Accounts receivable, net 36,981 41,550
Inventory 20,042 29,741
Deferred income taxes 2,840 2,130
Other current assets 909 1,774
Total current assets 103,034 140,096
Property, plant and equipment, net 18,970 21,255
Other assets 5,237 4,124
Total assets $127,241 $165,475
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 9,578 $ 8,327
Accrued liabilities 20,441 26,629
Income taxes payable 9,674 6,381
Total current liabilities 39,693 41,337
Deferred tax liabilities 1,616 5,652
Long-term debt, less current maturities 65,050 65,050
Total liabilities 106,359 112,039
Commitments and contingencies (note 8)
Stockholders’ equity:
Common stock, $0.01 par value per share; 40,000 shares authorized, 16,366 shares
and 16,449 shares issued and outstanding 171 174
Additional paid-in capital 58,217 63,816
Cumulative translation adjustment (891) (891)
Retained earnings (deficit) (23,834) 15,355
33,663 78,454
Less: Treasury stock (common: 963 shares in fiscal year 1998, net of sales) at cost (12,781) (25,018)
Total stockholders’ equity 20,882 53,436
Total liabilities and stockholders’ equity $127,241 $165,475
The accompanying notes are an integral part of these consolidated financial statements.