|
Aladdin Knowledge
Systems Ltd.
Consolidated Statement of Income
(U.S. dollars, in thousands – except for per-share
amount)
|
|
Three months period
ended
June 30
|
Six months period
ended
June 30
|
|
|
2005
|
2004
|
2005
|
2004
|
|
Revenues:
|
|
|
|
|
|
Software Security (DRM)
|
14,073
|
12,335
|
28,466
|
25,123
|
|
Enterprise
Security
|
5,985
|
4,184
|
11,928
|
8,273
|
|
Total Revenues
|
20,058
|
16,519
|
40,394
|
33,396
|
|
|
|
|
|
|
|
Cost of revenues
|
3,704
|
3,056
|
8,069
|
6,644
|
|
Gross profit
|
16,354
|
13,463
|
32,325
|
26,752
|
|
|
|
|
|
|
|
Research & development
|
2,877
|
3,158
|
5,780
|
6,236
|
|
Selling & marketing
|
7,263
|
5,737
|
13,728
|
11,551
|
|
General & administrative
|
2,639
|
2,024
|
5,677
|
4,581
|
|
One time lawsuit charge
|
-
|
-
|
2,000
|
-
|
|
|
|
|
|
|
|
Total operating expenses
|
12,779
|
10,919
|
27,185
|
22,368
|
|
|
|
|
|
|
|
Operating income
|
3,575
|
2,544
|
5,140
|
4,384
|
|
Financial income (expenses),
net
|
367
|
(258)
|
83
|
(169)
|
|
Other income (expenses),
net
|
(10)
|
(10)
|
8
|
(40)
|
|
|
|
|
|
|
|
Income before taxes
|
3,932
|
2,276
|
5,231
|
4,175
|
|
|
|
|
|
|
|
Taxes on income
|
338
|
203
|
407
|
354
|
|
|
|
|
|
|
|
Net Income
|
3,594
|
2,073
|
4,824
|
3,821
|
|
|
|
|
|
|
|
Basic earnings per
share
|
0.25
|
0.17
|
0.36
|
0.32
|
|
Diluted earnings per
share
|
0.24
|
0.16
|
0.34
|
0.30
|
|
|
|
|
|
|
|
Weighted average number
of shares outstanding for Basic EPS
|
14,368
|
11,902
|
13,380
|
11,767
|
|
Weighted average number
of shares outstanding for Diluted EPS
|
15,095
|
13,013
|
14,126
|
12,941
|
Aladdin Knowledge Systems Ltd.
Condensed Consolidated Balance Sheets
(U.S. dollars, in thousands)
|
|
June 30,
2005
|
December 31,
2004
|
|
Assets
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
Cash & cash equivalents
|
36,150
|
17,313
|
|
Marketable securities
|
34,004
|
8,598
|
|
Trade receivable, net of allowance for
doubtful accounts
|
12,487
|
12,637
|
|
Other accounts receivable
|
3,574
|
4,319
|
|
Inventories
|
6,720
|
5,788
|
|
|
|
|
|
Total current assets
|
92,935
|
48,655
|
|
|
|
|
|
Severance pay fund
|
2,526
|
2,357
|
|
|
|
|
|
Fixed assets, net
|
2,862
|
2,234
|
|
|
|
|
|
Other long-term assets, net
|
17,237
|
17,648
|
|
|
|
|
|
Total Assets
|
115,560
|
70,894
|
|
|
|
|
|
|
|
|
|
Liabilities and Shareholders' Equity
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
Trade payables
|
3,222
|
3,546
|
|
Deferred revenues
|
5,323
|
4,793
|
|
Other current liabilities
|
6,763
|
5,989
|
|
|
|
|
|
Total current liabilities
|
15,308
|
14,328
|
|
|
|
|
|
Accrued severance pay
|
3,333
|
3,129
|
|
|
|
|
|
Shareholders' Equity
|
96,919
|
53,437
|
|
|
|
|
|
Total Liabilities and Shareholders' Equity
|
115,560
|
70,894
|
|