Avid 2008 Annual Report Download - page 57

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52
AVID TECHNOLOGY, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except par value)
December 31, December 31,
2008 2007
ASSETS
Current assets:
Cash and cash equivalents $ 121,792 $ 208,619
Marketable securities 25,902 15,841
Accounts receivable, net of allowances of $23,182 and $20,784 at December 31, 2008
and 2007, respectively 103,527 138,692
Inventories 95,755 117,324
Deferred tax assets, net 612 1,873
Prepaid expenses 9,274 9,967
Other current assets 34,083 24,948
Total current assets 390,945 517,264
Property and equipment, net 38,321 46,160
Intangible assets, net 38,143 71,427
Goodwill 225,375 360,584
Other assets 10,801 10,518
Total assets $ 703,585 $ 1,005,953
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 29,419 $ 34,992
Accrued compensation and benefits 27,346 30,724
Accrued expenses and other current liabilities 64,511 49,319
Income taxes payable 9,250 13,869
Deferred revenues 68,581 79,771
Total current liabilities 199,107 208,675
Long-term liabilities 11,823 17,495
Total liabilities 210,930 226,170
Commitments and contingencies (Notes H and J)
Stockholders’ equity:
Preferred stock, $0.01 par value, 1,000 shares authorized; no shares issued or outstanding —
—
Common stock, $0.01 par value, 100,000 shares authorized; 42,339 shares and 42,339 shares
issued and 37,131 and 41,094 outstanding at December 31, 2008 and 2007, respectively 423 423
Additional paid-in capital 980,563 968,339
Accumulated deficit (365,431 ) (155,722)
Treasury stock at cost, net of reissuances, 5,208 shares and 1,245 shares at December 31, 2008
and 2007, respectively (124,852 ) (45,823)
Accumulated other comprehensive income 1,952 12,566
Total stockholders’ equity 492,655 779,783
Total liabilities and stockholders’ equity $ 703,585 $ 1,005,953
The accompanying notes are an integral part of the consolidated financial statements.