Business Services Industry
Jacada Reports Profitable 2002 Fourth Quarter - Software License Revenues up 52% from the Third Quarter
Business Wire, Feb 11, 2003
CONSOLIDATED BALANCE SHEETS
U.S. Dollars in thousands
December 31,
-----------------------
2002 2001
----------- ------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 15,319 $ 5,982
Marketable securities 22,326 35,660
Trade receivables (net of allowance for
doubtful accounts of $ 398 and $ 1,022 at
December 31, 2002 and 2001, respectively) 2,661 4,261
Other current assets 645 626
----------- ------------
Total current assets 40,951 46,529
----------- ------------
LONG-TERM INVESTMENTS:
Marketable securities 3,737 -
Severance pay fund 576 567
Long-term other assets 79 203
----------- ------------
Total long-term investments 4,392 770
----------- ------------
PROPERTY AND EQUIPMENT, NET 2,804 3,632
----------- ------------
OTHER ASSETS, NET:
Technology (net of accumulated amortization
of $ 381 and $ 95 at December 31, 2002 and
2001, respectively) 1,177 1,245
Other intangible, net (net of accumulated
amortization of $ 23 and $ 0 at December 31,
2002 and 2001, respectively) 140 -
Goodwill 4,554 4,283
----------- ------------
Total other assets 5,871 5,528
----------- ------------
$ 54,018 $ 56,459
=========== ============
CONSOLIDATED BALANCE SHEETS
U.S. Dollars in thousands, except share and per share data
December 31,
---------------------
2002 2001
---------- ----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Trade payables $ 760 $ 750
Deferred revenues 2,144 2,065
Accrued expenses and other liabilities 3,599 4,089
---------- ----------
Total current liabilities 6,503 6,904
---------- ----------
LONG-TERM LIABILITIES:
Accrued severance pay 927 967
Accrued expenses 124 -
---------- ----------
Total long-term liabilities 1,051 967
---------- ----------
SHAREHOLDERS' EQUITY:
Share capital:
Ordinary shares of NIS 0.01 par value:
Authorized: 30,000,000 shares as of December
31, 2002 and 2001; Issued and outstanding:
18,935,903 and 18,537,704 shares as of
December 31, 2002 and 2001, respectively 55 54
Additional paid-in capital 69,143 68,486
Deferred stock compensation (25) (71)
Accumulated other comprehensive gain 81 -
Accumulated deficit (22,790) (19,881)
---------- ----------
Total shareholders' equity 46,464 48,588
---------- ----------
$ 54,018 $ 56,459
========== ==========
JACADA LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
U.S. Dollars in thousands, except per share data
Three months ended Year ended
December 31, December 31,
------------------------- -------------------------
2002 2001 2002 2001
------------ ------------ ------------ ------------
Revenues:
Software
licenses $ 2,784 $ 2,219 $ 9,783 $ 10,930
Services 857 1,973 4,518 8,986
Maintenance 1,918 1,608 7,235 5,630
------------ ------------ ------------ ------------
Total revenues 5,559 5,800 21,536 25,546
----------- ----------- ----------- -----------
Cost of revenues:
Software
licenses 69 134 248 520
Services 539 1,105 3,115 4,859
Maintenance 297 414 1,247 1,705
------------ ------------ ------------ ------------
Total cost of
revenues 905 1,653 4,610 7,084
------------ ------------ ------------ ------------
Gross profit 4,654 4,147 16,926 18,462
------------ ------------ ------------ ------------
Operating
expenses:
Research and
development 1,785 1,657 6,191 6,446
Sales and
marketing 1,785 2,686 9,450 14,619
General and
administrative 1,151 1,513 4,602 5,679
Non-recurring
charges (200) 1,241 501 2,846
------------ ------------ ------------ ------------
Total operating
expenses 4,521 7,097 20,744 29,590
------------ ------------ ------------ ------------
Operating profit
(loss) 133 (2,950) (3,818) (11,128)
Financial income,
net 311 326 909 2,330
------------ ------------ ------------ ------------
Income (loss)
before taxes on
income 444 (2,624) (2,909) (8,798)
Taxes on income
(benefit) - (7) - (7)
------------ ------------ ------------ ------------
Net income (loss) $ 444 $ (2,617) $ (2,909) $ (8,791)
============ ============ ============ ============
Basic net earnings
(loss) per share $ 0.02 $ (0.14) $ (0.16) $ (0.48)
============ ============ ============ ============
Weighted average
number of shares
used in computing
basic net earning
(loss) per share 18,930,207 18,482,615 18,710,105 18,465,127
============ ============ ============ ============
Diluted net
earnings (loss)
per share $ 0.02 $ (0.14) $ (0.16) $ (0.48)
============ ============ ============ ============
Weighted average
number of shares
used in computing
diluted net
earnings (loss)
per share 19,070,098 18,482,615 18,710,105 18,465,127
============ ============ ============ ============
COPYRIGHT 2003 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Presented by American Express