3Ware 1999 Annual Report Download - page 26

March 31,
(in thousands, except par value) 1998 1999
Assets
Current assets:
Cash and cash equivalents $ 6,460 $ 13,530
Short-term investments—available-for-sale 61,436 73,010
Accounts receivable, net of allowance for doubtful accounts of $350
and $177 at March 31, 1998 and 1999, respectively 12,179 19,275
Inventories 8,185 9,813
Deferred income taxes 3,882 4,573
Notes receivable from officer and employees 87 815
Other current assets 2,297 4,004
Total current assets 94,526 125,020
Property and equipment, net 17,218 23,128
Other assets 1,090 2,507
Total assets $112,834 $150,655
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $ 5,215 $ 5,131
Accrued payroll and related expenses 5,057 4,689
Other accrued liabilities 2,344 7,207
Deferred revenue 1,873 1,439
Current portion of long-term debt 567 1,862
Current portion of capital lease obligations 2,053 1,075
Total current liabilities 17,109 21,403
Long-term debt, less current portion 2,736 4,995
Long-term capital lease obligations, less current portion 1,355 2,563
Commitments and contingencies (Notes 7 and 11)
Stockholders’ equity:
Preferred Stock, $0.01 par value:
Authorized shares—2,000, none issued and outstanding — —
Common Stock, $0.01 par value:
Authorized shares—60,000 at March 31, 1998 and
1999, respectively
Issued and outstanding shares—22,536 and 26,612 at
March 31, 1998 and 1999, respectively 225 266
Additional paid-in capital 86,660 102,525
Deferred compensation, net (472) (2,123)
Accumulated other comprehensive income (loss) — (33)
Retained earnings 5,722 21,514
Notes receivable from stockholders (501) (455)
Total stockholders’ equity 91,634 121,694
Total liabilities and stockholders’ equity $112,834 $150,655
See accompanying notes
CONSOLIDATED BALANCE SHEETS
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1999 AMCC