(In thousands, except per share data)
(Unaudited)
Three Mos. Ended
-----------------
October 31,
1996 1995
------- -------
Net revenue $102,506 $ 102,250
Costs and expenses:
Cost of goods sold:
Product 27,045 27,416
Amortization of purchased
software and other 40 675
Customer service &
technical support 27,512 24,952
Selling & marketing 37,401 36,380
Research & development 22,461 20,151
General & administrative 11,906 10,053
Charge for purchased R&D 4,929 --
Other acquisition costs,
including amortization of
goodwill and purchased
intangibles 10,302 9,875
------- -------
Total costs & expenses 141,596 129,502
------- -------
Loss from operations (39,090) (27,252)
Interest and other income and
expense, net 2,048 2,064
------- -------
Loss from continuing operations
before income taxes (37,042) (25,188)
Income tax benefit (8,738) (6,504)
------- -------
Loss from continuing operations
after tax (28,304) (18,684)
Loss from operations of
discontinued operations,
net of tax -- (1,638)
------- -------
Net loss $(28,304) $(20,322)
======= =======
Loss per share from
continuing operations $ (0.61) $ (0.42)
Loss per share from operations
of discontinued operations -- (0.04)
------- -------
Net loss per share $ (0.61) $ (0.46)
======= =======
Shares used in computing per
share amounts 46,049 44,677
======= =======
(In thousands, except per share data)
(Unaudited)
Three Mos. Ended
-----------------
October 31,
1996 1995
------- -------
Net revenue $102,506 $102,250
Costs and expenses:
Product cost of goods sold 27,045 27,416
Customer service &
technical support 27,512 24,952
Selling & marketing 37,401 36,380
Research & development 22,461 20,151
General & administrative 11,906 10,053
------- -------
Total costs & expenses,
excluding acquisition related
charges and discontinued
operations 126,325 118,952
------- -------
Loss from operations (23,819) (16,702)
Interest and other income and
expense, net 2,048 2,064
------- -------
Loss, excluding acquisition
related charges and
discontinued operations
before income taxes (21,771) (14,638)
Income tax benefit (7,838) (5,562)
------- -------
Net loss, excluding
acquisition related charges
and discontinued operations $(13,933) $(9,076)
======= =======
Net loss per share,
excluding acquisition related
charges and discontinued
operations $ (0.30) $ (0.20)
======= =======
Shares used in computing per
share amounts 46,049 44,677
======= =======
(In thousands, except per share data)
(Unaudited)
Three Mos. Ended
-----------------
October 31,
1996 1995
------- -------
Loss from continuing operations
before income taxes, as
reported $(37,042) $(25,188)
Amortization in cost of goods
sold 40 675
Charge for purchased research
and development 4,929 --
Other acquisition costs,
including amortization of
goodwill and purchased
intangibles 10,302 9,875
------- -------
Loss from continuing operations
before income taxes (21,771) (14,638)
Income tax benefit (7,838) (5,562)
------- -------
Loss from continuing operations,
excluding acquisition related
charges $(13,933) $(9,076)
======= =======
Net loss per share, excluding
acquisition related charges $ (0.30) $ (0.20)
======= =======
Shares used in computing
per share amounts 46,049 44,677
======= =======
(In thousands)
(Unaudited)
July 31, October 31,
1996 1996
----------- -----------
ASSETS:
Current assets:
Cash, cash equivalents and
short-term investments $198,018 $ 170,800
Accounts receivable, net 49,473 84,372
Inventories 4,448 4,935
Prepaid expenses 9,269 23,371
Deferred income taxes 19,205 19,116
------- -------
Total current assets 280,413 302,594
Property and equipment, net 95,611 97,169
Goodwill, net 15,194 13,966
Intangible and other assets, net 19,910 18,654
Long term deferred income taxes 6,892 6,892
------- -------
Total assets $418,020 $ 439,275
======= =======
LIABILITIES AND STOCKHOLDERS' EQUITY:
Current liabilities:
Accounts payable $ 33,972 $ 38,463
Accrued compensation and
related liabilities 15,473 18,445
Deferred revenue 18,974 30,460
Other accrued liabilities 42,270 60,145
------- -------
Total current liabilities 110,689 147,513
Non-current liabilities 8,096 8,080
Stockholders' equity 299,235 283,682
------- -------
Total liabilities and equity $418,020 $ 439,275
======= =======
(In thousands)
(Unaudited)
Three Mos. Ended
-----------------
October 31,
1996 1995
------- -------
Charge for purchased R&D $ 4,929 $ --
Amortization of intangibles in:
Cost of goods sold 40 675
Operating expenses 10,302 9,875
Other acquisition related
charges -- --
------- -------
Total acquisition related
charges in operating income 15,271 10,550
Tax effect ** (900) (942)
------- -------
Net income effect $ 14,371 $ 9,608
======= =======
Year Ended July 31,
1997 1998 1999 2000
------- ------- ------- -------
Charge for purchased R&D $ 4,929 $ -- $ -- $ --
Amortization of intangibles in:
Cost of goods sold 599 48 -- --
Operating expenses 23,951 7,933 4,511 639
Other acquisition related charges
------- ------- ------- -------
Total acquisition related
charges in operating income 29,479 7,981 4,511 639
Tax effect *** (3,244) (1,896) (793) (176)
------- ------- ------- -------
Net income effect $ 26,235 $ 6,085 $ 3,718 $ 463
======= ======= ======= =======
* Assumes no change in the economic useful lives of intangible assets, no future acquisitions and is not necessarily indicative of Intuit Inc.'s future operating results.
** Table A's provision for income taxes was computed by applying the estimated annual effective tax rate to recurring operations and amortization of intangible assets exclusive of the write-off of in- process research and development and the amortization of goodwill. Table B's provision for income taxes was computed by applying the estimated annual effective tax rate to recurring operations exclusive of the amortization of intangible assets, amortization of goodwill, write-off of in-process research and development and other acquisition related charges. The difference is being presented in Table E.
*** Assumes tax rate generally at 40% applied to tax effectable items for fiscal years 1997 and beyond.