CONDENSED BALANCE SHEET
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(Dollars in thousands)
(unaudited)
September 30, 2006 December 31, 2005
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Assets
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Cash & short-term investments $304,176 $105,708
Accounts receivable 110,579 19,534
Current deferred tax assets 26,690 42,103
Other current assets 22,742 8,370
Property & equipment and Patents
(net) 81,953 70,176
Long-term deferred tax assets and
non-current assets 42,257 53,646
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TOTAL ASSETS $588,397 $299,537
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Liabilities and Shareholders'
Equity
----------------------------------
Current portion of long-term debt $370 $350
Accounts payable & accrued
liabilities 48,433 30,129
Current deferred revenue 88,059 20,055
Long-term deferred revenue 156,097 71,193
Long-term debt & long-term
liabilities 5,808 3,496
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TOTAL LIABILITIES 298,767 125,223
SHAREHOLDERS' EQUITY 289,630 174,314
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TOTAL LIABILITIES & SHAREHOLDERS'
EQUITY $588,397 $299,537
================== =================
The company's short-term investments are comprised of high quality
credit instruments including U.S. Government agency instruments and
corporate bonds. Management views these instruments to be near
equivalents to cash and believes that investors may share this
viewpoint.
This release includes a summary cash flow statement that results in
the change in both the company's cash and short-term investment
balances. One of the subtotals in the summary cash flow statement is
free cash flow. The table below presents a reconciliation of this
non-GAAP line item to net cash provided by operating activities.
For the Three For the Nine
Months Ended Months Ended
September 30, September 30,
----------------- ------------------
2006 2005 2006 2005
-------- -------- --------- --------
Net cash provided by operating
activities $12,621 $17,584 $315,841 $37,633
Purchases of property and
equipment (2,845) (995) (7,329) (4,006)
Patent additions (4,081) (3,936) (14,053) (12,543)
Unrealized (loss) gain on short
term investments 118 (219) 95 (49)
-------- -------- --------- --------
Free cash flow $5,813 $12,434 $294,554 $21,035
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