of Debt (d) 171,000 -- 215,000 --
Adjusted EBITDA $1,379,000 $2,473,000 $6,531,000 $9,958,000
Adjusted EBITDA as
a % of Revenues 10.5% 18.6% 12.6% 18.9%
a. Amortization excludes the amortization of deferred financing costs,
which is included in interest expense, net.
b. Stock-based compensation represents non-cash items. Effective July 1,
2005, the company adopted SFAS No. 123( R ), 'Share-Based Payment.'
c. Incremental litigation and professional fees are 1) excess litigation
fees and 2) professional fees for litigation defense and the
implementation of Sarbanes-Oxley Section 404 compliance.
d. The loss on the extinguishment of debt represents the write-off of
unamortized deferred financing costs and a cash prepayment penalty on
the prepayment of a portion of the company's subordinated debt.
Memry Corporation and Subsidiaries
Condensed Consolidated Balance Sheets
June 30, 2007 and 2006
(Unaudited)
June 30,
2007 2006
ASSETS
Current assets
Cash and cash equivalents $2,401,000 $6,965,000
Accounts receivable, net 6,312,000 8,156,000
Inventories 6,230,000 5,418,000
Deferred tax assets 1,537,000 1,663,000
Prepaid expenses and other current assets 381,000 41,000
Total current assets 16,861,000 22,243,000
Property, plant and equipment, net 8,817,000 8,996,000
Other assets
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