CSP
INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
|
September
30, 2004
(Unaudited) |
September
30, 2003
|
|
| Assets |
||
| Current
assets: |
||
| Cash and short-term investments |
$12,895
|
$10,494
|
| Accounts receivable, net |
7,292
|
5,429
|
| Inventories |
3,611
|
2,034
|
| Other current assets |
878
|
2,575
|
| Total current assets |
24,676
|
20,532
|
| Property, equipment and improvements, net |
1,213
|
944
|
| Other assets |
5,224
|
4,949
|
| Total assets |
$31,113
|
$26,425
|
| Liabilities and Shareholders' Equity | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses |
9,253
|
6,483
|
| Total current liabilities |
9,253
|
6,483
|
| Other liabilities |
7,836
|
8,010
|
| Shareholders' equity |
14,024
|
11,932
|
| Total liabilities and shareholders' equity |
$31,113
|
$26,425
|
CSP INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share data )
|
Three
Months Ended
|
Twelve
Months Ended
|
|||
|
Sep
30
2004 (Unaudited) |
Sep 30
2003 |
Sep
30
2004 (Unaudited) |
Sep
30
2003 |
|
| Sales : |
|
|
|
|
| Systems |
$3,112
|
$1,353
|
$9,004
|
$5,488
|
| System and service integration |
10,862
|
8,996
|
41,169
|
24,499
|
| E-business software |
235
|
240
|
1,229
|
1,186
|
| Other software |
348
|
373
|
1,422
|
1,342
|
| Total sales |
14,557
|
10,962
|
52,824
|
32,515
|
| Cost of sales: |
|
|
|
|
| Systems |
1,495
|
620
|
3,725
|
2,672
|
| System and service integration |
8,265
|
7,367
|
33,085
|
19,736
|
| E-business software |
137
|
103
|
554
|
614
|
| Other software |
53
|
81
|
357
|
283
|
| Total cost of sales |
9,950
|
8,171
|
37,721
|
23,305
|
| Gross Profit |
4,607
|
2,791
|
15,103
|
9,210
|
| Operating expenses: | ||||
| Engineering and development |
801
|
821
|
2,946
|
3,543
|
| Selling, general & administrative |
3,048
|
3,085
|
10,542
|
8,675
|
| Total operating expenses |
3,849
|
3,906
|
13,488
|
12,218
|
| Operating Profit (Loss) |
758
|
(1,115)
|
1,615
|
(3,008)
|
| Other income (expense) |
:
|
|
|
|
| Other Income (expense) |
38
|
64
|
136
|
1,456
|
| Total other income (expense), net |
38
|
64
|
136
|
1,456
|
| Income (loss) before income taxes |
796
|
(1,051)
|
1,751
|
(1,552)
|
| Income tax provision (benefit) |
273
|
(606)
|
540
|
(168)
|
| Net Income (loss) |
$523
|
($445)
|
$1,211
|
($1,384)
|
| Net Income (loss) per share - basic |
$0.15
|
($0.13)
|
$0.34
|
($0.39)
|
| Weighted average shares outstanding - basic |
3,569
|
3,537
|
3,562
|
3,534
|
| Net Income (loss) per share - diluted |
$0.14
|
($0.13)
|
$0.32
|
($0.39)
|
| Weighted average shares outstanding - diluted |
3,747
|
3,537
|
3,743
|
3,534
|
|
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