8x8 1999 Annual Report Download - page 40

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8X8, INC.
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
ASSETS
The accompanying notes are an integral part of these financial statements.
36
MARCH 31,
------------------
1999 1998
------- -------
Current assets:
Cash and cash equivalents................................. $15,810 $26,677
Short-term investments.................................... -- 60
Accounts receivable, net.................................. 5,886 4,527
Inventory................................................. 3,915 12,758
Prepaid expenses and other current assets................. 878 876
------- -------
Total current assets.............................. 26,489 44,898
Property and equipment, net................................. 2,163 1,370
Deposits and other assets................................... 57 161
------- -------
$28,709 $46,429
======= =======
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable.......................................... $ 1,917 $ 2,216
Accounts payable to related parties....................... -- 409
Accrued compensation...................................... 1,236 1,445
Accrued warranty.......................................... 1,043 1,461
Deferred revenue.......................................... 4,089 2,447
Other accrued liabilities................................. 1,190 1,387
Income taxes payable...................................... 411 536
------- -------
Total current liabilities......................... 9,886 9,901
------- -------
Commitments and contingencies (Note 5)
Minority interest........................................... -- 85
------- -------
Stockholders' equity:
Convertible preferred stock, $0.001 par value:
Authorized: 5,000,000 shares; No shares issued and
outstanding at March 31, 1999 or 1998................. -- --
Common stock, $0.001 par value:
Authorized: 40,000,000 shares; Issued and outstanding:
15,425,752 shares at March 31, 1999 and 15,293,614
shares at March 31, 1998.............................. 15 15
Additional paid-in capital................................ 48,363 47,785
Notes receivable from stockholders........................ (266) (893)
Deferred compensation..................................... (197) (744)
Accumulated other comprehensive loss...................... (193) (45)
Accumulated deficit....................................... (28,899) (9,675)
------- -------
Total stockholders' equity........................ 18,823 36,443
------- -------
$28,709 $46,429
======= =======