|
Year Ended March 31, |
 |
 |
|
2002 |
2001 |
2000 |
|
|
| Cash flows from operating activities: |
| Net income (loss) |
$ (6,121) |
$26 |
$19 |
Adjustments to reconcile net income (loss) to
net cash provided by (used in) operating activities: |
| Depreciation and amortization |
395 |
536 |
676 |
| Write-down of investment |
3,000 |
- |
- |
| Discontinued operations |
2,727 |
- |
- |
| Deferred taxes |
464 |
381 |
(106) |
| Tax benefit from exercise of stock options |
- |
- |
1 |
Change in assets and liabilities (net of effect
of acquisition and disposition): |
| Accounts receivable |
(80) |
2,424 |
1,523 |
| Tax receivable |
(1,638) |
- |
- |
| Prepaid expenses and other assets |
405 |
(289) |
(55) |
| Accounts payable |
(88) |
(219) |
(436) |
| Accrued expenses and other liabilities |
(1,037) |
(1,169) |
(518) |
| Deferred revenue |
527 |
4 |
- |
| Billings in excess of costs and estimated earnings on contracts |
(70) |
40 |
42 |
| Federal and state income taxes |
- |
(343) |
(74) |
|
|
Net cash provided by (used in) operating activities of
continuing operations |
(1,516) |
1,391 |
1,072 |
|
|
| Cash flows from investing activities: |
| Purchase of short-term investments |
(22,162) |
- |
- |
| Sale of short-term investments |
1,300 |
- |
- |
| Maturity of short-term investments |
4,200 |
- |
- |
| Long-term investment |
- |
(3,000) |
- |
| Purchase of property and equipment |
(15) |
(246) |
(249) |
|
|
| Net cash used in investing activities of continuing operations |
(16,677) |
(3,246) |
(249) |
|
|
| Cash flows from financing activities: |
| Principal payments under capital lease obligation |
- |
- |
(13) |
| Proceeds from exercise of stock options under stock option plans |
28 |
163 |
211 |
|
|
| Net cash provided by financing activities of continuing operations |
28 |
163 |
198 |
|
|
| Net cash used in continuing operations |
(18,165) |
(1,692) |
1,021 |
| Net cash used in discontinued operations |
(3,033) |
- |
- |
|
|
| Net increase (decrease) in cash and cash equivalents |
(21,198) |
(1,692) |
1,021 |
| Cash and cash equivalents, beginning of year |
36,655 |
38,347 |
37,326 |
|
|
| Cash and cash equivalents, end of year |
$ 15,457 |
$ 36,655 |
$38,347 |
|
 |
| Supplemental disclosure of cash flow information: |
| Cash paid during the year for taxes |
$ 46 |
$ 759 |
$ 853 |
|
|
| Supplemental disclosure of non-cash investing activities: |
| Acquisition of assets with warrant |
$ 637 |
$- |
$- |
|
|
The accompanying notes are an integral part of these consolidated financial statements. |
