2006. This adjustment reduces net income related to the realization
of certain one-time revenue from marketing rights. The amounts were
recorded in net sales in the Statement of Operations.
(3) Amortization of the intangibles acquired in June 2006 asset
acquisition from Coloplast AS and Mentor Corporation. Management
believes these assets are appreciating. This adjustment adds back
amortization expense for the three and twelve months ended September
30, 2008 and 2007 related to certain intangibles.
(4) Compensation expense mandated by SFAS 123R. This adjustment adds back
the compensation expense recorded when stock options are granted to
employees and directors for the three and twelve months ended
September 30, 2008 and 2007.
Condensed Balance Sheets
September 30, September 30,
Cash and equivalents $8,508,000 $6,671,356
Marketable securities 28,493,648 30,465,244
Accounts receivable 6,009,023 5,527,518
Inventories 8,745,873 7,698,889
Prepaid expenses and other
assets 1,110,291 6,480
Deferred income tax asset 1,143,931 876,032
Total current assets 54,010,766 51,245,519
Property and equipment, net 9,883,329 9,679,035
Deferred income tax asset 831,299 571,721
|SOURCE Rochester Medical Corporation|
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