SanDisk 1998 Annual Report Download - page 39

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SanDisk Corporation
34
Balance Sheet
December 31,
(In thousands, except share and per share amounts) 1998 1997
ASSETS
Current assets:
Cash and cash equivalents $ 15,384 $ 20,888
Short-term investments 119,074 114,037
Accounts receivable, net of allowance for doubtful
accounts of $1,069 in 1998 and $756 in 1997 20,400 19,352
Inventories 8,922 15,648
Deferred tax assets 15,900 17,060
Prepaid expenses and other current assets 6,694 1,406
Total current assets 186,374 188,391
Property and equipment, net 17,542 15,892
Investment in foundry 51,208 40,284
Deposits and other assets 617 900
Total assets $ 255,741 $ 245,467
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 6,938 $ 14,111
Accrued payroll and related expenses 3,768 4,674
Income taxes payable 4,668 3,812
Other accrued liabilities 5,077 3,529
Deferred revenue 27,452 27,967
Total current liabilities 47,903 54,093
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value
Authorized shares: 4,000,000
Issued: none — —
Common stock, $0.001 par value
Authorized shares: 40,000,000
Issued and outstanding: 26,628,110 in 1998 and 25,865,229 in 1997 27 26
Capital in excess of par value 186,093 181,895
Retained earnings 21,247 9,411
Accumulated other comprehensive income 471 42
Total stockholders’ equity 207,838 191,374
Total liabilities and stockholders’ equity $ 255,741 $ 245,467
The accompanying notes are an integral part of these consolidated financial statements.
CON SOLIDATED BA LAN CE SHEETS