IMPSAT FIBER NETWORKS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (SUCCESSOR
COMPANY)
AS OF DECEMBER 31, 2003 AND SEPTEMBER 30, 2004
(In thousands of U.S. Dollars, except share amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor Company |
|
|||||
|
|
|
December 31, 2003 |
|
|
September 30, 2004 |
|
||
|
ASSETS |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS: |
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents |
|
$ |
61,498 |
|
|
$ |
57,078 |
|
|
Trading
investments |
|
|
2,474 |
|
|
|
|
|
|
Trade
accounts receivable, net |
|
|
31,213 |
|
|
|
31,831 |
|
|
Other
receivables |
|
|
11,630 |
|
|
|
11,989 |
|
|
Prepaid
expenses |
|
|
2,249 |
|
|
|
3,619 |
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets |
|
|
109,064 |
|
|
|
104,517 |
|
|
|
|
|
|
|
|
|
|
|
|
PROPERTY, PLANT AND EQUIPMENT, Net |
|
|
315,817 |
|
|
|
309,039 |
|
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT ASSETS: |
|
|
|
|
|
|
|
|
|
Investments
in common stock |
|
|
1,873 |
|
|
|
|
|
|
Other
non-current assets |
|
|
13,875 |
|
|
|
16,411 |
|
|
|
|
|
|
|
|
|
|
|
|
Total non-current assets |
|
|
15,748 |
|
|
|
16,411 |
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
$ |
440,629 |
|
|
$ |
429,967 |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES: |
|
|
|
|
|
|
|
|
|
Accounts
payable — trade |
|
$ |
37,095 |
|
|
$ |
33,412 |
|
|
Short
term debt |
|
|
|
|
|
|
174 |
|
|
Current
portion of long-term debt |
|
|
11,851 |
|
|
|
44,959 |
|
|
Accrued
and other liabilities |
|
|
33,140 |
|
|
|
30,184 |
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
|
82,086 |
|
|
|
108,729 |
|
|
LONG-TERM DEBT, Net |
|
|
249,394 |
|
|
|
226,435 |
|
|
OTHER LONG-TERM LIABILITIES |
|
|
11,904 |
|
|
|
15,340 |
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
343,384 |
|
|
|
350,504 |
|
|
|
|
|
|
|
|
|
|
|
|
COMMITMENTS AND CONTINGENCIES (NOTE 14) |
|
|
|
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
|
Preferred
stock, $0.01 par value; 5,000,000 shares authorized, no shares outstanding as
of December 31, 2003 and September 30,2004 |
|
|
— |
|
|
|
— |
|
|
Common
stock, $0.01 par value; 50,000,000 shares authorized, 10,100,000 and
10,116,100 shares issued and outstanding (including 150,000 and 100,000 restricted
shares held in the 2003 Stock Incentive Plan as of December 31, 2003 and
September 30, 2004, respectively) |
|
|
101 |
|
|
|
101 |
|
|
Additional
paid in capital |
|
|
90,294 |
|
|
|
90,534 |
|
|
Retained
earnings (accumulated deficit) |
|
|
9,477 |
|
|
|
(6,331 |
) |
|
Deferred
stock-based compensation |
|
|
(1,320 |
) |
|
|
(880 |
) |
|
Accumulated
other comprehensive loss |
|
|
(1,307 |
) |
|
|
(3,961 |
) |
|
|
|
|
|
|
|
|
|
|
|
Total stockholders’ equity |
|
|
97,245 |
|
|
|
79,463 |
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
$ |
440,629 |
|
|
$ |
429,967 |
|
IMPSAT FIBER NETWORKS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2003 (PREDECESSOR
COMPANY), FOR THE THREE AND SIX
MONTHS ENDED SEPTEMBER 30, 2003 (SUCCESSOR COMPANY)
AND FOR THE THREE AND NINE MONTHS
ENDED SEPTEMBER 30, 2004 (SUCCESSOR COMPANY)
(In thousands of U.S. Dollars, except per share
amounts)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||||||
|
|
|
Successor |
|
|
Successor |
|
|
Predecessor |
|
|
Successor |
|
|
Successor |
|
|||||
|
|
|
2003 |
|
|
2004 |
|
|
Three Months March 31, 2003 |
|
|
Six Months September 30, 2003 |
|
|
2004 |
|
|||||
|
NET REVENUES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Broadband
and satellite |
|
$ |
40,754 |
|
|
$ |
40,577 |
|
|
$ |
41,382 |
|
|
$ |
82,534 |
|
|
$ |
120,156 |
|
|
Internet
|
|
|
6,199 |
|
|
|
6,542 |
|
|
|
5,733 |
|
|
|
11,960 |
|
|
|
19,242 |
|
|
Value
added services |
|
|
4,031 |
|
|
|
4,270 |
|
|
|
4,781 |
|
|
|
7,883 |
|
|
|
12,306 |
|
|
Telephony
|
|
|
4,844 |
|
|
|
5,479 |
|
|
|
4,106 |
|
|
|
9,440 |
|
|
|
15,527 |
|
|
Sales
of equipment |
|
|
611 |
|
|
|
722 |
|
|
|
74 |
|
|
|
996 |
|
|
|
964 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net revenues |
|
|
56,439 |
|
|
|
57,590 |
|
|
|
56,076 |
|
|
|
112,813 |
|
|
|
168,195 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COSTS AND EXPENSES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Direct
costs: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracted services |
|
|
4,218 |
|
|
|
5,364 |
|
|
|
4,125 |
|
|
|
8,744 |
|
|
|
14,756 |
|
|
Other direct costs |
|
|
5,902 |
|
|
|
5,343 |
|
|
|
4,696 |
|
|
|
13,770 |
|
|
|
14,862 |
|
|
Leased capacity |
|
|
16,757 |
|
|
|
16,960 |
|
|
|
17,407 |
|
|
|
34,315 |
|
|
|
48,695 |
|
|
Cost of equipment sold |
|
|
245 |
|
|
|
571 |
|
|
|
48 |
|
|
|
353 |
|
|
|
747 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total direct costs |
|
|
27,122 |
|
|
|
28,238 |
|
|
|
26,276 |
|
|
|
57,182 |
|
|
|
79,060 |
|
|
Salaries
and wages |
|
|
11,983 |
|
|
|
11,961 |
|
|
|
10,727 |
|
|
|
23,825 |
|
|
|
35,941 |
|
|
Selling,
general and administrative |
|
|
6,249 |
|
|
|
6,254 |
|
|
|
5,553 |
|
|
|
13,375 |
|
|
|
17,719 |
|
|
Gain
on extinguishment of debt |
|
|
(5,460 |
) |
|
|
(115 |
) |
|
|
|
|
|
|
(14,253 |
) |
|
|
(115 |
) |
|
Depreciation
and amortization |
|
|
10,312 |
|
|
|
11,525 |
|
|
|
19,358 |
|
|
|
19,281 |
|
|
|
32,246 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total costs and expenses |
|
|
50,206 |
|
|
|
57,863 |
|
|
|
61,914 |
|
|
|
99,410 |
|
|
|
164,851 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss) |
|
|
6,233 |
|
|
|
(273 |
) |
|
|
(5,838 |
) |
|
|
13,403 |
|
|
|
3,344 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER INCOME (EXPENSE): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income |
|
|
328 |
|
|
|
262 |
|
|
|
200 |
|
|
|
690 |
|
|
|
870 |
|
|
Interest
expense (contractual interest of $21,801 for the three months ended March 31,
2003 (Predecessor)) |
|
|
(4,493 |
) |
|
|
(5,429 |
) |
|
|
(1,909 |
) |
|
|
(10,165 |
) |
|
|
(15,635 |
) |
|
Net
(loss) gain on foreign exchange |
|
|
(3,611 |
) |
|
|
7,159 |
|
|
|
9,969 |
|
|
|
17,834 |
|
|
|
(2,751 |
) |
|
Reorganization
items |
|
|
|
|
|
|
|
|
|
|
726,127 |
|
|
|
|
|
|
|
|
|
|
Other
(loss) income, net |
|
|
(894 |
) |
|
|
64 |
|
|
|
2,923 |
|
|
|
(1,208 |
) |
|
|
1,353 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other (expense) income |
|
|
(8,670 |
) |
|
|
2,056 |
|
|
|
737,310 |
|
|
|
7,151 |
|
|
|
(16,163 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) Income before income taxes |
|
|
(2,437 |
) |
|
|
1,783 |
|
|
|
731,472 |
|
|
|
20,554 |
|
|
|
(12,819 |
) |
|
Provision for foreign income taxes |
|
|
(605 |
) |
|
|
(1,108 |
) |
|
|
(406 |
) |
|
|
(1,349 |
) |
|
|
(2,989 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET (LOSS) INCOME |
|
$ |
(3,042 |
) |
|
$ |
675 |
|
|
$ |
731,066 |
|
|
$ |
19,205 |
|
|
$ |
(15,808 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET (LOSS) INCOME PER COMMON SHARE: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BASIC
|
|
$ |
(0.31 |
) |
|
$ |
0.07 |
|
|
$ |
8.00 |
|
|
$ |
1.94 |
|
|
$ |
(1.58 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DILUTED
|
|
$ |
(0.31 |
) |
|
$ |
0.07 |
|
|
$ |
8.00 |
|
|
$ |
1.36 |
|
|
$ |
(1.58 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WEIGHTED AVERAGE NUMBER OF COMMON SHARES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BASIC
|
|
|
9,931 |
|
|
|
10,011 |
|
|
|
91,429 |
|
|
|
9,891 |
|
|
|
9,987 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DILUTED
|
|
|
9,931 |
|
|
|
10,011 |
|
|
|
91,429 |
|
|
|
15,969 |
|
|
|
9,987 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPSAT FIBER NETWORKS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS) INCOME
FOR THE THREE MONTHS ENDED MARCH 31, 2003 (PREDECESSOR
COMPANY), FOR THE THREE AND SIX
MONTHS ENDED SEPTEMBER 30, 2003 (SUCCESSOR COMPANY) AND
FOR THE THREE AND NINE MONTHS
ENDED SEPTEMBER 30, 2004 (SUCCESSOR COMPANY)
(In thousands of U.S. Dollars)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||||||
|
|
|
Successor |
|
|
Successor |
|
|
Predecessor |
|
|
Successor |
|
|
Successor |
|
|||||
|
|
|
2003 |
|
|
2004 |
|
|
Three Months March 31, 2003 |
|
|
Six Months September 30, 2003 |
|
|
2004 |
|
|||||
|
NET (LOSS) INCOME |
|
$ |
(3,042 |
) |
|
$ |
675 |
|
|
$ |
731,066 |
|
|
$ |
19,205 |
|
|
$ |
(15,808 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER COMPREHENSIVE (LOSS) INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign
currency translation adjustment |
|
|
(1,009 |
) |
|
|
(1,679 |
) |
|
|
(4,097 |
) |
|
|
(5,547 |
) |
|
|
(922 |
) |
|
Unrealized
gain on investments available for sale |
|
|
184 |
|
|
|
|
|
|
|
55 |
|
|
|
246 |
|
|
|
122 |
|
|
Reclassification
adjustment for gains included in net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,854 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
|
|
|
(825 |
) |
|
|
(1,679 |
) |
|
|
(4,042 |
) |
|
|
(5,301 |
) |
|
|
(2,654 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPREHENSIVE
(LOSS) INCOME |
|
$ |
(3,867 |
) |
|
$ |
(1,004 |
) |
|
$ |
727,024 |
|
|
$ |
13,904 |
|
|
$ |
(18,462 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPSAT FIBER NETWORKS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’
EQUITY
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2004
(SUCCESSOR COMPANY)
(In thousands of U.S. Dollars)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock |
|
Additional Paid In Capital |
|
Retained Earnings (Accumulated Deficit) |
|
|
Deferred Stock- Based Compensation |
|
|
Accumulated Other Comprehensive Loss |
|
|
Total |
|
||||||||
|
|
|
Shares |
|
Amount |
|
|
|
|
|
|||||||||||||||
|
BALANCE AT DECEMBER 31, 2003 (SUCCESSOR COMPANY) |
|
10,100,000 |
|
$ |
101 |
|
$ |
90,294 |
|
$ |
9,477 |
|
|
$ |
(1,320 |
) |
|
$ |
(1,307 |
) |
|
$ |
97,245 |
|
|
Issuance
of common stock |
|
16,100 |
|
|
|
|
|
99 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
99 |
|
|
Issuance
of stock options to stockholder |
|
|
|
|
|
|
|
141 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
141 |
|
|
Recognition
of deferred compensation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
440 |
|
|
|
|
|
|
|
440 |
|
|
Unrealized
loss on investment available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,732 |
) |
|
|
(1,732 |
) |
|
Foreign
currency translation adjustment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(922 |
) |
|
|
(922 |
) |
|
Net
loss for the period |
|
|
|
|
|
|
|
|
|
|
(15,808 |
) |
|
|
|
|
|
|
|
|
|
|
(15,808 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BALANCE AT SEPTEMBER 30, 2004 (SUCCESSOR COMPANY) |
|
10,116,100 |
|
$ |
101 |
|
$ |
90,534 |
|
$ |
(6,331 |
) |
|
$ |
(880 |
) |
|
$ |
(3,961 |
) |
|
$ |
79,463 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPSAT FIBER NETWORKS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 2003 (PREDECESSOR
COMPANY),
FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2003 (SUCCESSOR
COMPANY)
AND FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2004
(SUCCESSOR COMPANY)
(In thousands of U.S. Dollars)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
|||||||||
|
|
|
Predecessor |
|
|
Successor |
|
|
Successor |
|
|||
|
|
|
Three Months Ended March 31, 2003 |
|
|
Six Months Ended September 30, 2003 |
|
|
2004 |
|
|||
|
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income (loss) |
|
$ |
731,066 |
|
|
$ |
19,205 |
|
|
$ |
(15,808 |
) |
|
Adjustments
to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization and depreciation |
|
|
19,358 |
|
|
|
19,281 |
|
|
|
32,246 |
|
|
Gain on extinguishment of debt |
|
|
(728,203 |
) |
|
|
(14,253 |
) |
|
|
(115 |
) |
|
Stock-based compensation |
|
|
440 |
|
|
|
|
|
|
|
440 |
|
|
Issuance of stock options to stockholder |
|
|
|
|
|
|
|
|
|
|
141 |
|
|
Deferred income tax provision |
|
|
82 |
|
|
|
312 |
|
|
|
1,366 |
|
|
Provision for (reversal of allowance for) doubtful accounts |
|
|
515 |
|
|
|
2,906 |
|
|
|
(3,073 |
) |
|
Paid-in-kind interest on Senior Notes |
|
|
|
|
|
|
6,602 |
|
|
|
10,196 |
|
|
Loss on sale of assets held for disposal |
|
|
|
|
|
|
94 |
|
|
|
|
|
|
Net (gain) loss on foreign exchange |
|
|
(9,969 |
) |
|
|
(17,834 |
) |
|
|
2,751 |
|
|
Net gain on sale of investments |
|
|
|
|
|
|
|
|
|
|
(1,854 |
) |
|
Net loss on disposals of property, plant and equipment |
|
|
772 |
|
|
|
2,153 |
|
|
|
1,308 |
|
|
Changes in assets and liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Increase) decrease in trade accounts receivable |
|
|
(3,816 |
) |
|
|
(1,956 |
) |
|
|
2,480 |
|
|
(Increase) decrease in prepaid expenses |
|
|
(943 |
) |
|
|
415 |
|
|
|
(1,369 |
) |
|
Decrease (increase) in other receivables and other non-current assets
|
|
|
1,214 |
|
|
|
5,197 |
|
|
|
(3,299 |
) |
|
(Decrease) in accounts payable — trade |
|
|
(2,709 |
) |
|
|
(6,109 |
) |
|
|
(3,754 |
) |
|
Increase (decrease) in accrued and other liabilities |
|
|
5,549 |
|
|
|
(750 |
) |
|
|
(5,627 |
) |
|
Decrease in deferred revenues |
|
|
(1,132 |
) |
|
|
|
|
|
|
|
|
|
(Decrease) increase in other long-term liabilities |
|
|
(721 |
) |
|
|
(1,245 |
) |
|
|
3,394 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
cash provided by operating activities |
|
|
11,503 |
|
|
|
14,018 |
|
|
|
19,423 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
(increase) decrease in trading investments |
|
|
(3,303 |
) |
|
|
24,392 |
|
|
|
2,474 |
|
|
Purchases
of property, plant and equipment |
|
|
(3,266 |
) |
|
|
(10,385 |
) |
|
|
(26,522 |
) |
|
Proceeds
from sale of property, plant and equipment |
|
|
340 |
|
|
|
701 |
|
|
|
193 |
|
|
Proceeds
from sale of assets held for disposal |
|
|
|
|
|
|
2,435 |
|
|
|
|
|
|
Proceeds
from the sale of investment |
|
|
|
|
|
|
|
|
|
|
1,995 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
cash (used in) provided by investing activities |
|
|
(6,229 |
) |
|
|
17,143 |
|
|
|
(21,860 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
borrowings from short-term debt |
|
|
|
|
|
|
|
|
|
|
174 |
|
|
Proceeds
from long-term debt |
|
|
|
|
|
|
1,037 |
|
|
|
2,211 |
|
|
Repayments
of long-term debt |
|
|
(1,857 |
) |
|
|
(5,484 |
) |
|
|
(3,661 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
cash used in financing activities |
|
|
(1,857 |
) |
|
|
(4,447 |
) |
|
|
(1,276 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS |
|
|
(415 |
) |
|
|
366 |
|
|
|
(707 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
|
|
3,002 |
|
|
|
27,080 |
|
|
|
(4,420 |
) |
|
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD |
|
|
32,563 |
|
|
|
35,565 |
|
|
|
61,498 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD |
|
$ |
35,565 |
|
|
$ |
62,645 |
|
|
$ |
57,078 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL CASH FLOW INFORMATION: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
paid |
|
$ |
940 |
|
|
$ |
3,486 |
|
|
$ |
2,606 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign
income taxes paid |
|
$ |
594 |
|
|
$ |
2,851 |
|
|
$ |
3,494 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH PAID DURING THE PERIOD FOR REORGANIZATION ITEMS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Professional
fees and other reorganization payments |
|
$ |
1,714 |
|
|
$ |
5,841 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Change
in unrealized gain in investment available for sale. |
|
$ |
55 |
|
|
$ |
246 |
|
|
$ |
122 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance
of Series B Notes in settlement of certain vendor financing obligations |
|
|
|
|
|
$ |
1,075 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance
of common stock upon conversion of Series A Notes |
|
|
|
|
|
|
|
|
|
$ |
99 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|