8x8 2001 Annual Report Download - page 41

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NETERGY NETWORKS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)
The accompanying notes are an integral part of these consolidated financial statements.
36
YEAR ENDED MARCH 31,
--------------------------------
2001 2000 1999
-------- -------- --------
Cash flows from operating activities:
Net loss.................................................. $(74,399) $(24,848) $(19,224)
Adjustments to reconcile net loss to net cash used in
operating activities:
Depreciation and amortization........................... 14,355 2,118 967
Stock compensation expense.............................. 753 161 416
Cumulative effect of change in accounting principle..... 1,081 -- --
In-process research and development..................... 4,563 10,100 --
Discount on issuance of common stock.................... -- 7,400 --
Gain on sale of investments, net........................ (225) (1,687) --
Non-cash restructuring charges.......................... 32,331 -- --
Other................................................... (20) -- (148)
Changes in assets and liabilities, net of effects of
businesses acquired
and sold:
Accounts receivable....................................... 851 3,492 (1,359)
Inventory, net............................................ (85) 2,548 8,843
Other current and noncurrent assets....................... (1,281) (96) 102
Accounts payable.......................................... (2,197) (71) (708)
Accrued compensation...................................... (623) 583 (209)
Accrued warranty.......................................... (169) (349) (418)
Deferred revenue.......................................... 197 (3,358) 1,642
Other accrued liabilities................................. 378 (48) (197)
Income taxes payable...................................... (78) (27) (125)
-------- -------- --------
Net cash used in operating activities.............. (24,568) (4,082) (10,418)
-------- -------- --------
Cash flows from investing activities:
Acquisitions of property and equipment.................... (6,127) (1,693) (1,760)
Cash paid for acquisitions, net........................... (558) (149) --
Proceeds from sale of investment.......................... 225 1,880 --
Proceeds from the sale of video monitoring assets, net.... 5,160 -- --
Other..................................................... -- -- (25)
-------- -------- --------
Net cash provided by (used in) investing
activities....................................... (1,300) 38 (1,785)
-------- -------- --------
Cash flows from financing activities:
Proceeds from issuance of convertible subordinated
debentures.............................................. -- 7,500 --
Debt issuance costs....................................... -- (617) --
Debt repayments........................................... (891) -- --
Proceeds from issuance of common stock, net............... 2,763 29,763 838
Repayment of notes receivable from stockholders........... 60 240 498
Repurchase of common stock and Exchangeable Shares........ (514) (76) --
-------- -------- --------
Net cash provided by financing activities.......... 1,418 36,810 1,336
-------- -------- --------
Net increase (decrease) in cash and cash equivalents........ (24,450) 32,766 (10,867)
Cash and cash equivalents, beginning of year................ 48,576 15,810 26,677
-------- -------- --------
Cash and cash equivalents, end of year...................... $ 24,126 $ 48,576 $ 15,810
======== ======== ========
Supplemental disclosures:
Income taxes paid......................................... $ 25 $ 34 $ 126
======== ======== ========
Interest paid............................................. $ 308 $ -- $ --
======== ======== ========