Transmeta is a trademark of Transmeta Corporation. All other product or service names mentioned herein are the trademarks of their respective owners.
Transmeta Corporation
Condensed Consolidated Balance Sheets
(in thousands)
December 31, December 31,
2005 2004 (1)
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ASSETS
Current assets:
Cash and cash equivalents $ 27,659 $ 17,273
Short-term investments 28,811 36,395
Accounts receivable, net 1,686 2,290
Inventories 265 5,410
Prepaid and other current assets 2,279 2,218
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Total current assets 60,700 63,586
Property, plant and equipment, net 1,623 2,187
Patents and patent rights, net 16,080 22,926
Other assets 911 914
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TOTAL ASSETS $ 79,314 $ 89,613
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable $ 1,521 $ 6,224
Accrued compensation and benefits 3,279 4,189
Accrued inventory-related charges - 4,876
Deferred income, net 5,937 29
Accrued other 2,109 5,694
Advances from customers 7,260 -
Accrued restructuring costs 1,803 1,557
Current portion of long-term debt - 356
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Total current liabilities 21,909 22,925
Long-term accrued restructuring costs 2,453 3,688
Long-term payables, net of current portion - 5,000
Stockholders' equity:
Common stock 713,129 709,926
Treasury stock (2,439) (2,439)
Accumulated other comprehensive loss (195) (125)
Accumulated deficit (655,543) (649,362)
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Total stockholders' equity 54,952 58,000
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 79,314 $ 89,613
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(1) Derived from the Company's audited financial statements as of
December 31, 2004, included in the Company's Form 10-K filed with
the Securities and Exchange Commission.
TRANSMETA CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share data)
(Unaudited)
Three Months Ended Twelve Months Ended
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December December December December
31, 31, 31, 31,
2005 2004 2005 2004
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Revenue:
Product $ 3,235 $ 4,799 $ 24,636 $ 18,776
License - 6,000 19,628 9,000
Service 10,077 448 28,467 1,668
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Total revenue 13,312 11,247 72,731 29,444
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Cost of revenue
Product 1,402 10,654 12,271 36,335
License - - 71 -
Service 5,660 189 15,990 730
Impairment charge on long-
live assets - 1,943 - 1,943
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Total cost of revenue 7,062 12,786 28,332 39,008
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Gross profit (loss) 6,250 (1,539) 44,399 (9,564)
Operating expenses:
Research and development 2,491 12,578 19,609 52,765
Selling, general and
administrative 5,564 9,292 23,039 30,855
Restructuring charges (875) - 2,009 904
Amortization of intangible
assets 1,713 2,233 6,846 9,217
Impairment charge on long-
lived and other assets - 2,544 - 2,544
Stock compensation 14 29 (34) 1,665
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Total operating expenses 8,907 26,676 51,469 97,950
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Operating loss (2,657) (28,215) (7,070) (107,514)
Interest income and other,
net 609 150 1,253 827
Interest expense (18) (50) (364) (111)
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Net loss $ (2,066) $(28,115) $ (6,181) $(106,798)
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Net loss per share - basic
and fully diluted $ (0.01) $ (0.15) $ (0.03) $ (0.61)
========= ========= ========= ==========
Weighted average shares
outstanding - basic and
fully diluted 191,649 182,104 190,404 175,989
