Symantec 1997 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 1997 Symantec 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

41
SYMANTEC CORPORATION
Year Ended March 31,
(In thousands) 1997 1996 1995
OPERATING ACTIVITIES:
Net income (loss) $26,038 $(39,783) $ 33,409
Delrina net loss for the quarter ended June 30, 1995 —4,834 —
Acquired companies’ net assets (445) —(1,677)
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation and amortization of equipment and
leasehold improvements 22,770 19,717 15,689
Amortization and write-off of capitalized software costs 10,477 19,141 13,360
Write-off of equipment and leasehold improvements 4,010 3,403 1,539
Deferred income taxes 21 (989) 7,267
Net change in assets and liabilities:
Trade accounts receivable 11,699 17,554 (15,266)
Inventories 3,432 1,450 1,308
Other current assets 1,304 (6,461) 4,008
Capitalized software costs (7,656) (3,286) (1,523)
Other assets 2,720 2,465 (6,175)
Accounts payable 7,373 (2,368) (11,224)
Accrued compensation and benefits 1,502 1,313 (1,042)
Accrued other expenses 6,104 (7,203) (1,546)
Income taxes payable 5,031 1,211 78
Net cash provided by operating activities 94,380 10,998 38,205
INVESTING ACTIVITIES:
Capital expenditures (27,195) (35,767) (24,749)
Purchased intangibles (698) (461) (4,293)
Purchases of short-term, available-for-sale investments (180,000) (154,500) (166,524)
Maturities of short-term, available-for-sale investments 203,098 168,681 122,736
Purchases of long-term, restricted investments (47,448) — —
Sales of fixed assets and other ——(1,505)
Net cash used in investing activities (52,243) (22,047) (74,335)
F I N ANCING ACTIVITIES:
Principal payments on long-term obligations (354) (475) (889)
Net proceeds from sales of common stock and other 12,057 20,770 21,395
Net cash provided by financing activities 11,703 20,295 20,506
Effect of exchange rate fluctuations on cash and cash equivalents 141 2,339 (2,263)
Increase (decrease) in cash and cash equivalents 53,981 11,585 (17,887)
Beginning cash and cash equivalents 41,777 30,192 48,079
Ending cash and cash equivalents $95,758 $ 41,777 $ 30,192
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Income taxes paid (net of refunds) during the year $392 $ 906 $ (759)
Interest paid on convertible subordinated debentures and
long-term obligations $1,182 $ 1,299 $ 2,070
The accompanying Summary of Significant Accounting Policies and Notes to Consolidated Financial Statements are an integral part of these statements.
Consolidated
Statements of Cash Flow