8x8 2000 Annual Report Download - page 31

our annual audited consolidated financial statements and related notes included elsewhere in this annual report:
Revenues
Total revenues were $25.4 million, $31.7 million and $49.8 million for the fiscal years ended March 31, 2000, 1999 and 1998, respectively.
Total revenues for fiscal 2000 were divided among multimedia communication semiconductors ($11.3 million), IP telephony semiconductors
($37,000), video monitoring systems ($6.0 million), ViaTV systems ($3.0 million), Media Hub systems ($451,000) and nonrecurring license
and other revenues ($4.6 million). In fiscal 1999, total revenues were divided among multimedia communication semiconductors ($10.3
million), video monitoring systems ($3.0 million), ViaTV systems ($12.9 million) and nonrecurring license and other revenues ($5.5 million).
In fiscal 1998, total revenues were divided among multimedia communication semiconductors ($21.9 million), ViaTV systems ($13.4 million)
and nonrecurring license and other revenues ($14.5 million).
Product revenues were $20.8 million in fiscal 2000, a decrease of $5.4 million from the $26.2 million reported in fiscal 1999. The decrease in
product revenues in fiscal 2000 compared to fiscal 1999 is primarily due to a decrease in sales of our ViaTV systems resulting from our
decision in April 1999 to discontinue production of ViaTV products and withdraw from our retail and distribution channels. This decrease was
partially offset by increases in sales of multimedia communication semiconductors and video monitoring systems products. In fiscal 1999,
product revenues decreased by $9.1 million from the $35.3 million reported in fiscal 1998. The decrease in product revenues in fiscal 1999
compared to fiscal 1998 is primarily due to a decrease in sales of our multimedia communication semiconductors, partially offset by an
increase in sales of our ViaTV and video monitoring system products.
License and other revenues consist of technology licenses, including royalties required under such licenses, and nonrecurring engineering fees
for services performed by us for our customers. License and other revenues were $4.6 million in fiscal 2000, a decrease of $900,000 from the
$5.5 million reported in fiscal 1999,
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YEAR ENDED MARCH 31,
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2000 1999 1998
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($ IN MILLIONS)
Product revenues............................ $ 20.8 82% $ 26.2 83% $35.3 71%
License and other revenues.................. 4.6 18% 5.5 17% 14.5 29%
------ ---- ------ --- ----- ---
Total revenues.................... 25.4 100% 31.7 100% 49.8 100%
------ ---- ------ --- ----- ---
Cost of product revenues.................... 8.5 41% 24.2 92% 17.8 50%
Cost of license and other revenues.......... 0.1 3% 0.1 2% 1.1 8%
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Total cost of revenues............ 8.6 34% 24.3 77% 18.9 38%
------ ---- ------ --- ----- ---
Gross profit................................ 16.8 66% 7.4 23% 30.9 62%
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Operating expenses:
Research and development.................... 11.9 47% 9.9 31% 12.3 25%
Selling, general and administrative......... 21.3 84% 17.7 56% 17.4 35%
In-process research and development......... 10.1 40% -- --% -- --%
Amortization of intangibles................. 0.6 2% -- --% -- --%
------ ---- ------ --- ----- ---
Total operating expenses.......... 43.9 173% 27.6 87% 29.7 60%
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Income (loss) from operations............... (27.1) (107)% (20.2) (64)% 1.2 2%
Other income, net........................... 2.8 11% 1.0 3% 1.5 3%
Interest expense............................ (0.4) 2% -- --% -- --%
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Income (loss) before income taxes........... (24.7) (97)% (19.2) (61)% 2.7 5%
(Benefit)provision for income taxes......... 0.1 1% -- --% (1.0) (2)%
------ ---- ------ --- ----- ---
Net income (loss)........................... $(24.8) (98)% $(19.2) (61)% $ 3.7 7%
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