8x8 2004 Annual Report Download - page 42

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39
8X8, INC.
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
March 31,
2004 2003
ASSETS
Current assets:
Cash and cash equivalents.............................................................................. $ 13,249 $ 3,371
Restricted cash..................................................................................................
.
800 --
Short term investments....................................................................................
.
-- 208
Accounts receivable, net of allowance of
$135 and $141, respectively............................................................................
.
608 1,290
Inventory............................................................................................................ 98 352
Other current assets.........................................................................................
.
645 595
Total current assets..................................................................................
.
15,400 5,816
Property and equipment, net.............................................................................
.
158 841
Other assets....................................................................................................... 13 48
$ 15,571 $ 6,705
LIAB ILITIES AND S TOCKHOLDERS ' EQUITY
Current liabilities :
Accounts payable............................................................................................. $ 854 $ 652
Accrued compensation....................................................................................
.
415 847
Accrued warranty.............................................................................................
.
194 428
Deferred revenue............................................................................................... 547 545
Other accrued liabilities.................................................................................... 559 1,174
Income taxes payable.......................................................................................
.
216 226
Total current liabilities.............................................................................. 2,785 3,872
Contingently redeemable common stock........................................................
.
-- 669
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred s tock, $0.001 par value:
Authorized: 5,000,000 shares ;
Iss ued and outs tanding: 1 s hare at March 31, 2004
and March 31, 2003.......................................................................................
.
-- --
Common stock, $0.001 par value:
Authorized: 100,000,000 shares at March 31, 2004
and March 31, 2003;
Issued and outstanding: 38,315,769 shares
at March 31, 2004 and 28,470,987 s hares
at March 31, 2003......................................................................................... 38 28
Additional paid-in capital..................................................................................
.
164,469 150,827
Deferred compensation......................................................................................
.
(3) (12)
Accumulated deficit............................................................................................ (151,718) (148,679)
Total stockholders' equity.......................................................................
.
12,786 2,164
$ 15,571 $ 6,705
The accompanying notes are an integral part of these consolidated financial statements.