8x8 2007 Annual Report Download - page 74

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8X8, INC.
CONSOLIDATED QUARTERLY FINANCIAL DATA
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
(UNAUDITED)
March 31, Dec. 31, Sept. 30, June 30, March 31, Dec. 31, Sept. 30, June 30,
2007 2006 2006 2006 2006 2005 2005 2005
(Restated) (Restated) (Restated) (Restated) (Restated) (Restated) (Restated)
Service revenues $ 12,414 $ 11,515 $ 11,240 $ 9,877 $ 8,629 $ 6,769 $ 5,719 $ 4,996
Product revenues 1,974 1,800 1,916 2,394 1,712 1,714 1,344 1,009
Total revenues 14,388 13,315 13,156 12,271 10,341 8,483 7,063 6,005
Operating expenses:
Cost of service revenues 4,688 4,555 5,015 4,762 4,177 3,326 2,795 2,069
Cost of product revenues 1,974 1,818 1,354 2,928 2,733 3,357 2,537 2,105
Research and development 1,040 1,094 1,257 1,321 1,676 1,470 1,446 1,324
Selling, general, and
administrative 9,121 8,833 8,498 9,205 8,712 7,244 6,042 5,865
Total operating expenses 16,823 16,300 16,124 18,216 17,298 15,397 12,820 11,363
Loss from operations (2,435) (2,985) (2,968) (5,945) (6,957) (6,914) (5,757) (5,358)
Other income, net 128 112 184 243 311 125 189 222
Loss on fair value of warrant liability (603) 40 401 3,898 994 624 (957) 225
Net loss $ (2,910) $ (2,833) $ (2,383) $ (1,804) $ (5,652) $ (6,165) $ (6,525) $ (4,911)
Net loss per share:
Basic $ (0.05) $ (0.05) $ (0.04) $ (0.03) $ (0.09) $ (0.11) $ (0.12) $ (0.09)
Diluted $ (0.05) $ (0.05) $ (0.04) $ (0.03) $ (0.09) $ (0.11) $ (0.12) $ (0.09)
Shares used in per share calculations:
Basic 61,605 61,420 61,329 61,138 61,105 54,836 53,871 53,823
Diluted 61,605 61,420 61,329 61,138 61,105 54,836 53,871 53,823
QUARTER ENDED
As described in Note 2 of the Notes to the Consolidated Financial Statements, the Company has restated previously issued
financial statements relating to the accounting for certain of its warrants. In connection with the restatement, the Company also
corrected other errors in the quarterly financial statements that it had previously identified and determined not to be material.
The following summarizes the impact of the restatement on the quarterly information (unaudited) for each of the quarters in
fiscal 2006 and the first three quarters of fiscal 2007.
As previously Restatement As previously Restatement
Reported Adjustments Restated Reported Adjustments Restated
Service revenues $ 11,423 $ 92 $ 11,515 (1) $ 11,332 $ (92) $ 11,240 (1)
Total revenues $ 13,223 $ 92 $ 13,315 $ 13,248 $ (92) $ 13,156
Research and development $ 1,187 $ (93) $ 1,094 (2) $ 1,293 $ (36) $ 1,257 (3)
Total operating expenses $ 16,393 $ (93) $ 16,300 $ 16,160 $ (36) $ 16,124
Loss from operations $ (3,170) $ 185 $ (2,985) $ (2,912) $ (56) $ (2,968)
Income on change in fair
value of warrant liability $ - $ 40 $ 40 (4) $- $ 401 $ 401 (4)
Net loss $ (3,058) $ 225 $ (2,833) $ (2,728) $ 345 $ (2,383)
Net loss per share:
Basic $ (0.05) $ 0.00 $ (0.05) $ (0.04) $ 0.00 $ (0.04)
Diluted $ (0.05) $ 0.00 $ (0.05) $ (0.04) $ 0.00 $ (0.04)
Three months ended December 31, 2006 Three months ended September 30, 2006
(1) To reflect the increase in revenue due to incorrectly recording $92,000 in licensing revenue in the second fiscal
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