 |
Consolidated Balance Sheets
(in thousands, except share data)
|
March 31, 2002 |
March 31, 2001 |
 |
 |
| Assets |
|
|
| Current assets: |
|
|
| Cash and cash equivalents |
$ 15,457 |
$ 36,655 |
| Short-term investments |
16,601 |
- |
Accounts receivable, net of allowance for doubtful
accounts of $375 at March 31, 2002 and 2001 |
3,170 |
3,090 |
| Tax receivable |
2,784 |
- |
| Prepaid expenses |
260 |
243 |
| Deferred taxes |
- |
464 |
 |
 |
| Total current assets |
38,272 |
40,452 |
 |
 |
| Long-term investment |
- |
3,000 |
| Property and equipment, net |
308 |
629 |
| Other assets |
182 |
536 |
 |
 |
| Total assets |
$ 38,762 |
$ 44,617 |
 |
 |
| Liabilities and Stockholders' Equity |
|
|
| Current liabilities: |
|
|
| Accounts payable |
$ 455 |
$ 538 |
| Accrued expenses and other liabilities |
2,055 |
2,828 |
| Deferred revenue |
531 |
4 |
| Billings in excess of costs and estimated earnings |
12 |
82 |
 |
 |
| Total current liabilities |
3,053 |
3,452 |
 |
 |
| Commitments |
|
|
| Stockholders' equity: |
|
|
Preferred stock, $.01 par value, 1,000,000 authorized,
no shares issued or outstanding |
- |
- |
Common stock, $.01 par value, 60,000,000 shares
authorized, 13,151,123 shares issued and 13,039,123
outstanding at March 31, 2002 and 13,135,126 shares
issued and 13,023,126 outstanding at March 31, 2001 |
131 |
131 |
| Additional paid-in capital |
27,565 |
26,900 |
| Retained earnings |
8,038 |
14,159 |
| Treasury stock (112,000 shares carried at cost) |
(25) |
(25) |
 |
 |
| Total stockholders' equity |
35,709 |
41,165 |
 |
 |
| Total liabilities and stockholders' equity |
$ 38,762 |
$ 44,617 |
 |
 |
The accompanying notes are an integral part of these consolidated financial statements. |
|