|
March
31,
|
March
31,
|
|||||
2007
|
2006
|
||||||
Current
assets:
|
|||||||
Cash
and cash equivalents
|
$
|
25,776
|
$
|
13,787
|
|||
Trade
receivables, net
|
6,634
|
5,265
|
|||||
Inventories
|
5,567
|
7,700
|
|||||
Prepaid
expenses and other current assets
|
991
|
1,270
|
|||||
Total
current assets
|
38,968
|
28,022
|
|||||
Property
and equipment, net
|
1,351
|
1,849
|
|||||
Intangible
assets, net
|
1,161
|
1,474
|
|||||
Other
assets
|
176
|
146
|
|||||
Total
assets
|
$
|
41,656
|
$
|
31,491
|
|||
LIABILITIES
AND STOCKHOLDERS’ EQUITY
|
|||||||
Current
liabilities:
|
|||||||
Notes
payable
|
$
|
10
|
$
|
27
|
|||
Accounts
payable
|
1,974
|
2,458
|
|||||
Product
warranty
|
1,101
|
506
|
|||||
Accrued
expenses and other current liabilities
|
3,590
|
1,975
|
|||||
Litigation
Suspense
|
19,500
|
−
|
|||||
Deferred
revenue
|
1,064
|
477
|
|||||
Total
current liabilities
|
27,239
|
5,975
|
|||||
Long-term
portion of capital lease obligation
|
−
|
2
|
|||||
Other
long-term obligations
|
−
|
6
|
|||||
Total
liabilities
|
27,239
|
5,983
|
|||||
Stockholders’
equity:
|
|||||||
Common
stock
|
71
|
70
|
|||||
Additional
paid-in capital
|
122,473
|
120,592
|
|||||
Accumulated
other comprehensive income
|
240
|
532
|
|||||
Accumulated
deficit
|
(108,367
|
)
|
(95,154
|
)
|
|||
Total
stockholders’ equity
|
14,417
|
26,040
|
|||||
$
|
41,656
|
$
|
31,491
|
|
Three
Months Ended
March
31,
|
|
Twelve
Months Ended
March
31,
|
||||||||||
|
2007
|
|
2006
|
|
2007
|
|
2006
|
||||||
Revenue
|
$
|
6,197
|
$
|
6,053
|
$
|
22,263
|
$
|
21,757
|
|||||
Cost
of revenue
|
4,242
|
4,836
|
16,736
|
15,741
|
|||||||||
Gross
profit (loss)
|
1,955
|
1,217
|
5,527
|
6,016
|
|||||||||
Operating
expenses:
|
|||||||||||||
Research
and development
|
1,507
|
1,327
|
4,646
|
4,753
|
|||||||||
Sales
and marketing
|
952
|
868
|
3,909
|
2,963
|
|||||||||
General
and administrative
|
1,497
|
1,373
|
10,347
|
7,139
|
|||||||||
In-process
research and development
|
−
|
−
|
−
|
−
|
|||||||||
Total
operating expenses
|
3,956
|
3,568
|
18,902
|
14,855
|
|||||||||
Operating
income (loss)
|
(2,001
|
)
|
(2,351
|
)
|
(13,375
|
)
|
(8,839
|
)
|
|||||
Other
income (expense), net
|
|||||||||||||
Interest
expense, net
|
291
|
125
|
643
|
291
|
|||||||||
Other
income (expense)
|
(295
|
)
|
(94
|
)
|
(481
|
)
|
(864
|
)
|
|||||
Total
other income (expense), net
|
(4
|
)
|
31
|
162
|
(573
|
)
|
|||||||
Net
loss before taxes
|
(2,005
|
)
|
(2,320
|
)
|
(13,213
|
)
|
(9,412
|
)
|
|||||
Income
taxes
|
−
|
532
|
−
|
532
|
|||||||||
Net
loss after taxes
|
$
|
(2,005
|
)
|
$
|
(1,788
|
)
|
$
|
(13,213
|
)
|
$
|
(8,880
|
)
|
|
Net
loss per share, basic and diluted
|
$
|
(0.28
|
)
|
$
|
(0.26
|
)
|
$
|
(1.87
|
)
|
$
|
(1.50
|
)
|
|
Shares
used in per share computation:
|
|||||||||||||
Basic
|
7,107
|
7,004
|
7,065
|
5,903
|
|||||||||
Diluted
|
7,107
|
7,004
|
7,065
|
5,903
|