WebEx 2002 Annual Report Download - page 35

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WEBEX COMMUNICATIONS, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
December 31,
2002 2001
ASSETS
Current assets:
Cash and cash equivalents ............................................. $ 32,597 $ 42,146
Short-term investments ................................................ 36,355 —
Accounts receivable, net of allowances of $7,332 and $6,825 at December 31,
2002 and 2001, respectively .......................................... 19,465 17,938
Prepaid expenses and other current assets ................................. 2,694 1,830
Due from related party ................................................ — 1,100
Total current assets ............................................... 91,111 63,014
Property and equipment, net ................................................ 21,563 25,362
Other non-current assets ................................................... 1,650 1,920
Total assets ..................................................... $114,324 $ 90,296
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable .................................................... $ 7,879 $ 9,156
Accrued liabilities .................................................... 9,102 6,695
Short-term debt ...................................................... — 5,500
Current portion of capital lease obligation ................................. 489 1,410
Deferred revenue .................................................... 8,734 8,136
Total current liabilities ............................................ 26,204 30,897
Capital lease obligations, less current portion .................................. — 572
Total liabilities .................................................. 26,204 31,469
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value, 5,000,000 shares authorized; no shares issued or
outstanding ....................................................... — —
Common stock, $0.001 par value; 250,000,000 shares authorized; 41,022,011 and
39,998,432 shares issued and outstanding at December 31, 2002 and 2001,
respectively ....................................................... 41 40
Additional paid-in capital .............................................. 197,160 189,649
Note receivable from stockholder ....................................... (45) (45)
Deferred equity-based compensation ..................................... (1,092) (5,724)
Accumulated other comprehensive income ................................ 781 27
Accumulated deficit .................................................. (108,725) (125,120)
Total stockholders’ equity ......................................... 88,120 58,827
Total liabilities and stockholders’ equity .............................. $114,324 $ 90,296
See accompanying notes to consolidated financial statements
31