Printronix laser printers manual Results of Operations, Selected Balance Sheet Data

SELECTED FINANCIAL DATA

The following results of operations, balance sheet and cash flow data have been derived from our consolidated financial statements. The information set forth below is not necessarily indicative of the results of future operations and should be read in conjunction with the consolidated financial statements and notes thereto appearing in our Form 10-K.

$ in thousands, except per share data

Fiscal years ended March 2005 2004 2003 2002 2001

RESULTS OF OPERATIONS

Revenue	$131,711	$125,070	$138,229	$146,683	$158,091
Gross margin	$51,522	$47,400	$48,850	$47,570	$43,007
Gross margin %	39.1%	37.9%	35.3 %	32.4%	27.2%
Operating expenses	$48,798	$46,403	$45,803	$44,110	$43,166
Restructuring charges	-	-	-	-	$1,768
Income (loss) from operations	$2,724	$997	$3,047	$3,460	$(1,927)
Other (expense), income taxes & minority interest	$(785)	$(365)	$(10)	$(1,155)	$592
Net income (loss)	$1,939	$632	$3,037	$2,305	$(1,335)
Diluted net income (loss) per share	$0.30	$0.11	$0.51	$0.39	$(0.22)

SELECTED BALANCE SHEET DATA

Cash and cash equivalents	$35,405	$36,671	$29,617	$22,618	$9,832
Short-term investments	$9,500	-	-	-	-
Accounts receivable, net	$18,207	$18,408	$18,741	$18,232	$20,932
Inventories	$13,093	$13,617	$12,678	$15,063	$20,703
Other assets	$6,335	$8,153	$6,270	$6,149	$6,814
Property, plant and equipment, net	$32,926	$34,960	$38,781	$42,897	$47,688
Total assets	$115,466	$111,809	$106,087	$104,959	$105,969
Current portion of long term debt	$700	$700	$700	$700	$4,200
Accounts payable & other current liabilities	$19,566	$18,927	$19,408	$20,083	$18,071
Long-term note payable, net of current portion	$13,475	$14,175	$14,875	$15,575	$16,275
Other non-current liabilities & minority interest	$2,569	$1,814	$28	$59	$1,172
Common stock, paid in capital & retained earnings	$79,156	$76,193	$71,076	$68,542	$66,251
Total liabilities and equity	$115,466	$111,809	$106,087	$104,959	$105,969
Stockholders’ equity per share	$12.23	$12.64	$12.67	$11.72	$11.22

SELECTED CASH FLOW DATA

Net cash provided by (used in) operating activities	$11,429	$6,398	$11,965	$20,726	$(1,699)
Purchase of property, buildings and equipment, net	$(3,624)	$(2,965)	$(3,627)	$(3,727)	$(6,734)
Purchase of short-term investments	$(9,500)	-	-	-	-
Proceeds from the issuance of long-term note	-	-	-	-	$17,500
Payments made on long-term note	$(700)	$(700)	$(700)	$(700)	$(525)
Payments on line of credit, net	-	-	-	$(3,500)	$(10,000)
Repurchase and retirement of common stock	-	$(1,061)	$(1,718)	$(73)	$(3,928)
Proceeds from employee stock incentive plans	$1,450	$5,382	$1,079	$60	$238
Cash dividends paid	$(321)	-	-	-	-
Net cash provided by (used in) financing activities	$429	$3,621	$(1,339)	$(4,213)	$3,285

Net (decrease) increase in cash and cash equivalents $(1,266) $7,054 $6,999 $12,786 $(5,148)