Pro Forma Financial Statements

2014 2015 2016

INCOME STATEMENT
REVENUE AND GROSS PROFIT
Total Revenue 86,833 93,580 91,154
OPERATING EXPENSES
COGS Expenses 27,078 33,038 31,090
SG&A Expenses 20,488 20,324 19,198
Research & Development 11,381 12,046 11,988
Unusual Expense (Income) 233 10,194 1,432
Total Operating Expense 58,947 65,408 62,276
Operating Income
NON-OPERATING INCOME & EXPENSES
Interest Expense 597 781 1,243
Income Before Tax
INCOME TAXES
Income Tax - Total 5,746 6,314 5,100
Income After Tax -5,746 -6,314 -5,100
Total Extraordinary Items 100 100 100
Net Income
EPS RECONCILIATION
Basic/Primary Weighted Average Shares 8,239 8,027 7,808

Basic Normalized EPS

BALANCE SHEET
ASSETS
Cash & Equivalents 8,669 5,595 6,510
Short Term Investments 76,796 90,687 106,657
Cash and Short Term Inv 85,465 96,282 113,167
Total Receivables, Net 19,544 17,918 18,277
Total Inventory 2,660 2,902 2,251
Other Current. Assets, Total 6,577 5,705 5,965
Total Current Assets 114,246 122,807 139,660
Prop./Plant/Equip. - Gross 27,804 32,337 38,156
Accumulated Depreciation -14,793 -17,606 -19,800
Prop./Plant/Equip. - Net 13,011 14,731 18,356
Goodwill, Net 20,127 16,939 17,872
Intangibles, Net 6,981 4,835 3,733
Long Term Investments 14,590 12,028 10,413
Other Long Term Assets 3,429 2,900 3,215
Total Assets
LIABILITIES
Total Current Liabilities 45,625 49,647 59,357
Long Term Debt 20,645 27,808 40,557
Capital Lease Obligations -- -- 761
Total Long Term Debt 20,645 27,808 41,318
Deferred Income Tax 2,728 1,295 1,476
Other Liabilities, Total 13,602 15,639 19,320
Total Liabilities
SHAREHOLDER EQUITY
Common Stock 51,494 50,169 48,800
Additional Paid-In Capital 16,872 18,296 19,378
Retained Earnings (Accumulated Deficit) -7,879 -17,761 -28,767
Unrealized Gain (Loss) 3,531 3,169 2,941
Total Equity
Total Liabilities & Shareholders Equity 0 0 0
Total Common Shares Outstanding 8,239 8,027 7,808

STATEMENT OF CASH FLOWS

CASH FROM (USED BY) OPERATING ACTIVITIES
Net Income 0 0 0
Plus: Depreciation/Depletion 2,000 2,813 2,194
Net Receivables 2,500 -1,626 359
Inventories 2,660 2,902 2,251
Changes in Working Capital 500 4,539 7,143
Total Cash from Operations 7,660 8,628 11,947
PLUS: CASH FROM (USED BY) INVESTING ACTIVITIES
Capital Expenditures 3,000 1,720 3,625
Sale/Maturity of Investment 65,366 85,861 115,341
Purchase of Investments -72,690 -88,729 -99,758
Total Cash from Investing -4,324 -1,148 19,208
PLUS: CASH FROM (USED BY) FINANCING ACTIVITIES
Total Cash Dividends Paid -8,879 -9,882 -11,006
Issuance (Retirement) of Stock, Net -6,709 -13,809 -15,301
Issuance (Retirement) of Debt, Net 6,962 13,661 18,283
Total Cash From Financing -8,626 -10,030 -8,024
EQUALS: INCREASE (DECREASE) IN CASH
Foreign Exchange Effects -139 -73 -67
Net Change in Cash -5,429 -2,623 23,064
Net Cash - Beginning Balance / Reserved for Future Use 3,804 -1,625 -4,248
Net Cash -Ending Balance /Reserved for Future Use -1,625 -4,248 18,816
 2017 2018 2019 2020 2021 2022 2023

96,571 110,360

34,261 38,353
18,648 22,223
12,292 14,726
2,400 47
65,201 75,302

2,222 2,733

4,412 6,203
-4,412 -6,203
100 100

7,708 7,677

7,663 11,946
125,218 121,704
132,881 133,650
22,431 26,481
2,181 2,662
5,203 6,869
162,696 169,662
47,913 58,683
-24,179 -29,223
23,734 29,460
35,122 35,683
10,106 8,053
5,956 1,862
4,443 5,642

55,745 58,488
76,073 72,242
2,425 4,125
78,498 76,367
5,734 541
22,624 40,734

48,175 47,981
21,140 23,242
-40,612 -53,311
1,825 -892

0 0
7,708 7,677

0 0
4,379 5,044
4,154 4,050
2,181 2,662
26,648 4,223
37,362 15,979

5,378 5,726
104,394 143,937
-96,905 -97,380
12,867 52,283

-11,845 -12,699
-11,016 -9,719
31,459 -10,201
8,598 -32,619

19 50
58,846 35,693
18,816 77,662
77,662 113,355