SAN DIEGO, Aug. 4 /PRNewswire-FirstCall/ -- DivX, Inc.
(Nasdaq: DIVX), a leading digital media company, today announced
results for the three and six months ended June 30, 2010.
(Logo:
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The Company reported revenues for the second quarter of
$19.6 million, comprised of
$16.9 million of technology licensing
revenues and $2.7 million of media
and other distribution and services revenues. This compares
to revenues of $15.2 million reported
for the same period a year ago, which included $13.7 million of technology licensing revenues
and $1.5 million of media and other
distribution and services revenues.
"In Q2, we once again delivered solid financial and operational
results and beat expectations," stated Kevin Hell, Chief Executive
Officer for DivX. "We remain on a strong growth track based
on our progress with emerging devices such as digital televisions,
Blu-ray players, set-top boxes and mobile phones. With our
premium content and DivX TV initiatives, we are well positioned to
redefine the future of digital content delivery."
GAAP net loss in the second quarter of 2010 was approximately
$2.8 million, or a net loss of
$0.09 per diluted share. DivX
generated non-GAAP net income of $760,000, or $0.02
per diluted share. Non-GAAP net income and earnings per diluted
share exclude the following expenses:
- Non-cash share-based compensation of approximately $2.7 million ($1.6
million, or $0.05 per diluted
share, net of related taxes);
- The scheduled amortization of purchased intangible assets
related to the acquisition of MainConcept of $475,000 ($290,000,
or $0.01 per diluted share, net of
related taxes);
- The foreign exchange impact on our Euro-denominated
intercompany loan of $165,000
($101,000, or less than $0.01 per diluted share, net of related taxes);
- The impact of contingent consideration fair value adjustments
related to the acquisition of AnySource Media of $102,000 ($62,000,
or less than $0.01 per diluted share,
net of related taxes):
- A non-cash benefit of $895,000,
or $0.03 per diluted share, related
to adjustments to our deferred tax assets primarily related to
certain California tax law changes
and stock option cancellations;
- Expenses related to the proposed merger transaction between
DivX and Sonic Solutions of approximately $1.2 million ($723,000, or $0.02
per diluted share, net of related taxes); and
- Gain on the purchase of MainConcept Japan Controlling interest
of $213,000 ($130,000, or less than $0.01 per diluted share, net of related
taxes).
Dan Halvorson, Chief
Financial Officer and Executive Vice President, Operations, added,
"We had another solid quarter, delivering great bottom line results
that highlight the strength of our business model. Our
balance sheet remains strong with $146
million in cash and investments, or $4.41 per share."
Third Quarter 2010 Fiscal Outlook
The following table summarizes the Company's financial guidance
for the third quarter of 2010. The following estimates are based on
the Company's current business outlook as of the date of this press
release:
|
Q3'10 Guidance
|
|
|
|
|
Revenue (in millions)
|
$20 - $21
|
|
|
|
|
GAAP earnings (loss) per share,
diluted
|
($0.05) - ($0.03)
|
|
|
|
|
Adjustments:
|
|
|
|
|
|
Non-cash share-based
compensation expense, net of related taxes
|
$0.05
|
|
|
|
|
Amortization of purchased
intangibles and contingent consideration adjustments, net of
related taxes
|
$0.01
|
|
|
|
|
Acquisition Related
Costs
|
$0.01
|
|
|
|
|
Non-GAAP earnings per share,
diluted
|
$0.02 - $0.04
|
|
|
|
These estimates are based on:
- Expected revenues for technology licensing of approximately 89%
of total revenue for the third quarter of 2010; and revenues for
media and other distribution and services of approximately 11% of
total revenues for the third quarter of 2010;
- A projected effective tax rate of approximately 40% for the
third quarter of 2010 which is dependent on the effective tax rates
in our various domestic and foreign jurisdictions;
- Anticipated non-cash share-based compensation expense of
approximately $2.8 million
($1.7 million, or $0.05 per diluted share, net of related taxes)
for the third quarter of 2010;
- The scheduled amortization of purchased intangible assets
related to the acquisition of MainConcept and contingent
consideration fair value adjustments related to the acquisition of
AnySource Media of approximately $600,000 ($360,000,
or $0.01 per diluted share, net of
related taxes) for the third quarter of 2010; and
- Expenses related to the proposed merger transaction between
DivX and Sonic Solutions of approximately $700,000 ($420,000,
or $0.01 per diluted share, net of
related taxes) for the third quarter of 2010, which excludes
contingency-based transaction costs.
Quarterly Conference Call
DivX management will host a conference call and simultaneous
audio webcast to discuss its second quarter 2010 results on
August 4, 2010 at 1:30 p.m. Pacific Time or 4:30 p.m. Eastern Time. To participate in the
call, please dial (877) 303-3149 or outside the U.S. (408) 427-3857
to access the conference call at least five minutes prior to the
start time. A live audio webcast will be available on the Events
and Presentations page at http://investors.divx.com.
In addition, an audio replay of the call will be available
between 7:30 p.m. Eastern Time
August 4, 2010 and Midnight, Eastern
Time August 11, 2010 by calling (800)
642-1687 or (706) 645-9291, with passcode 90715543.
Joint DivX and Sonic Solutions Proposed Merger Update
Call
The DivX and Sonic Solutions (Nasdaq: SNIC) management teams
will host a conference call and simultaneous webcast to update
shareholders on the proposed merger transaction between the two
companies at 2:30 p.m. Pacific Time
or 5:30 p.m. Eastern Time on
August 4, 2010. To participate
on this call, please dial (877) 293-5493 or outside the U.S. (914)
495-8539 to access the conference call. A live audio webcast
will be available on the Events and Presentations page at
http://investors.divx.com.
An audio replay of the proposed merger update call will be
available between 10:30 p.m. Eastern
Time August 4, 2010 and
Midnight, Eastern Time August 11,
2010 by calling (800) 642-1687 or (706) 645-9291, with
passcode 90811287.
About DivX, Inc.
DivX, Inc. is a leading digital media company that enables
consumers to enjoy a high-quality video experience across any kind
of device. DivX creates, distributes and licenses digital video
technologies that span the "three screens" comprising today's
consumer media environment--the PC, the television and mobile
devices. Over 300 million DivX devices have shipped into the market
from leading consumer electronics manufacturers. DivX also offers
content providers and publishers a complete solution for the
distribution of secure, high-quality digital video content. Driven
by a globally recognized brand and a passionate community of
hundreds of millions of consumers, DivX is simplifying the video
experience to enable the digital home.
On June 2, 2010, DivX, Inc. and
Sonic Solutions announced a proposed merger transaction.
Sonic Solutions has filed with the Securities and Exchange
Commission (the "SEC") a registration statement on Form S-4
containing a preliminary joint proxy statement/prospectus in
connection with the proposed merger and both companies intend to
mail a definitive joint proxy statement/prospectus and other
relevant documents to Sonic and DivX shareholders following such
time that the registration statement is declared effective by the
SEC.
Forward-Looking Statements
Statements in this press release that are not strictly
historical in nature constitute "forward-looking statements." Such
statements include, but are not limited to, references to the
expected growth and earnings potential of the Company's business,
the Company's position in the digital media space, and the
anticipated financial results for the third quarter of 2010. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the Company's
actual results to be materially different from historical results
or from any results expressed or implied by such forward-looking
statements. These factors include, but are not limited to: the risk
that customer use of DivX technology may not grow as anticipated;
the risk that anticipated market opportunities may not materialize
at expected levels, or at all; the risk that the Company's
financial performance for the third quarter of 2010 may not meet
expectations; the risk that the Company's activities may not result
in the growth of profitable revenue; risks and uncertainties
related to the maintenance and strength of the DivX brand; the
Company's ability to penetrate existing and new markets; the
effects of competition; the Company's dependence on its licensees
and partners; the effect of intellectual property rights claims;
the risks and uncertainties related to the failure to satisfy the
conditions of the pending merger, including failure to obtain the
required approvals of DivX and Sonic Solutions stockholders,
including the approval of a majority of DivX stockholders; the
costs and expenses associated with the pending merger; contractual
restrictions on the conduct of DivX's business included in the
merger agreement; the potential loss of key personnel, disruption
of DivX's business or any impact on DivX's relationships with third
parties as a result of the pending merger; any delay in
consummating the proposed merger or the failure to consummate the
transaction; and the outcome of, or expenses associated with, any
litigation which may arise in connection with the pending merger;
and other factors discussed in the "Risk Factors" section of the
Company's most recent reports filed with the Securities and
Exchange Commission. All forward-looking statements are
qualified in their entirety by this cautionary statement. DivX is
providing this information as of the date of this release and does
not undertake any obligation to update any forward-looking
statements contained in this release as a result of new
information, future events or otherwise, other than as required
under applicable securities laws.
Non-GAAP Financial Measures; GAAP EPS
DivX has provided in this release financial information that has
not been prepared in accordance with GAAP. This information
includes non-GAAP net income (loss) and diluted earnings (loss) per
share, which excludes non-cash share-based compensation expense,
the amortization of purchased intangible assets, the foreign
exchange impact of our Euro-denominated intercompany loan, the
impact of contingent consideration fair value adjustments related
to the acquisition of AnySource Media, the non-cash charge for
adjustments to our deferred tax assets, expenses related to the
proposed merger transaction between DivX and Sonic Solutions, and
the gain on the purchase of MainConcept Japan Controlling interest.
This non-GAAP information is provided to enhance the reader's
overall understanding of our current financial performance and
prospects for the future. Specifically, we believe this information
provides useful comparative data by excluding non-cash share-based
compensation expense, which is not consistent from
period-to-period. Also, we believe that the exclusion of
amortization of purchased intangible assets, the impact of
contingent consideration fair value adjustments related to the
acquisition of AnySource Media, the foreign exchange impact of our
Euro-denominated intercompany loan, the change in value of certain
tax deferred assets, the expenses related to the proposed merger
transaction, and the gain on purchase of MainConcept Japan
Controlling interest provides useful comparative data by reflecting
our business operations in a manner that is consistent with
expected future operations. Management has historically used
non-GAAP net income (loss) and non-GAAP earnings (loss) per diluted
share when evaluating operating performance because we believe the
exclusion of the items described above provides an additional
measure of our core operating results and facilitates comparisons
of our core operating performance against prior periods and our
business model objectives. The presentation of this additional
information should not be considered in isolation or as a
substitute for results prepared in accordance with accounting
principles generally accepted in the
United States. The non-GAAP financial measures used by the
Company may be calculated differently from, and therefore may not
be comparable to, similarly titled measures used by other
companies.
We will continue to evaluate the factors that might impact
non-cash share-based compensation expense and accruals for income
tax expense. The non-cash share-based compensation expense is
expected to vary depending on the number of new grants issued to
both current and new employees, and changes in the Company's stock
price, stock market volatility, expected option life, and risk-free
interest rates (all of which are difficult to estimate). In
addition, the factors that impact our deferred tax assets are
expected to vary from period-to-period, also making our effective
tax rate difficult to estimate.
Additional Information
This press release is not a solicitation of a proxy, an offer to
purchase, nor a solicitation of an offer to sell shares of Sonic
Solutions, and it is not a substitute for any proxy statement or
other filings that may be made with the SEC with respect to the
proposed merger. In connection with the proposed merger,
Sonic Solutions has filed a registration statement on Form S-4
containing a joint proxy statement/prospectus of Sonic Solutions
and DivX. Investors and security holders are urged to carefully
read the Registration Statement on Form S-4 and related joint proxy
statement/prospectus and other documents filed with the SEC by
Sonic Solutions and DivX, because they contain important
information about Sonic Solutions, DivX and the proposed
transaction, including with respect to risks and uncertainties that
could delay or prevent the completion of the transaction. Such
documents are available free of charge at the SEC website
(www.sec.gov), from Sonic Solutions and its corporate website
(www.sonic.com) or from DivX and its corporate website
(www.divx.com).
Sonic Solutions, DivX and their respective directors, executive
officers and other members of their management may be deemed to be
soliciting proxies from shareholders of Sonic Solutions or DivX in
favor of the proposed merger. Investors and stockholders may obtain
more detailed information regarding the direct and indirect
interests in the proposed merger of persons who may, under the
rules of the SEC, be considered participants in the solicitation of
these shareholders in connection with the proposed merger by
reading the joint proxy statement/prospectus described above.
Additional information about the directors and executive officers
of Sonic Solutions may be found in its definitive proxy statement
filed with the SEC on October 1, 2009. Additional information
about the directors and executive officers of DivX may be found in
its definitive proxy statement filed with the SEC on April 20,
2010. Such documents are available free of charge at the SEC
website (www.sec.gov), from Sonic Solutions and its corporate
website (www.sonic.com) or from DivX and its corporate website
(www.divx.com).
DivX, Inc.
|
|
CONSOLIDATED CONDENSED BALANCE
SHEETS
|
|
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
|
|
December 31,
|
|
|
|
|
2010
|
|
2009
|
|
|
|
|
(unaudited)
|
|
Assets
|
|
|
|
|
Current assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
$ 29,355
|
|
$
14,883
|
|
|
Short-term
investments
|
113,892
|
|
125,047
|
|
|
Accounts receivable,
net
|
3,199
|
|
2,521
|
|
|
Deferred tax assets,
current
|
1,025
|
|
1,025
|
|
|
Prepaid expenses and other
current assets
|
9,626
|
|
6,080
|
|
|
|
Total current assets
|
157,097
|
|
149,556
|
|
|
|
|
|
|
|
|
Property and equipment,
net
|
1,705
|
|
2,143
|
|
Long-term investments
|
3,019
|
|
3,779
|
|
Deferred tax assets,
long-term
|
13,014
|
|
13,178
|
|
Purchased intangible assets,
net
|
11,394
|
|
13,340
|
|
Goodwill
|
17,153
|
|
18,528
|
|
Other assets
|
6,457
|
|
7,074
|
|
|
|
Total assets
|
$ 209,839
|
|
$
207,598
|
|
|
|
|
|
|
|
|
Liabilities and stockholders'
equity
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
Accounts payable
|
$ 1,324
|
|
$
1,853
|
|
|
Accrued expenses
|
10,297
|
|
8,399
|
|
|
Deferred revenue
|
4,600
|
|
5,350
|
|
|
|
Total current
liabilities
|
16,221
|
|
15,602
|
|
|
|
|
|
|
|
|
Long-term liabilities
|
6,025
|
|
6,821
|
|
|
|
Total liabilities
|
22,246
|
|
22,423
|
|
|
|
|
|
|
|
|
Stockholders' equity
|
187,593
|
|
185,175
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
stockholders' equity
|
$ 209,839
|
|
$
207,598
|
|
|
|
|
|
|
|
DivX, Inc.
|
|
CONSOLIDATED CONDENSED
STATEMENTS OF OPERATIONS
|
|
(in thousands, except per share
data)
|
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June
30,
|
|
Six Months Ended June
30,
|
|
|
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
Technology licensing
|
$ 16,877
|
|
$ 13,725
|
|
$ 37,818
|
|
$ 32,331
|
|
|
Media and other distribution and
services
|
2,688
|
|
1,509
|
|
5,002
|
|
1,580
|
|
|
|
Total net revenues
|
19,565
|
|
15,234
|
|
42,820
|
|
33,911
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue:
|
|
|
|
|
|
|
|
|
|
Cost of technology licensing
(excludes amortization of purchased developed
intangibles)
|
2,283
|
|
2,165
|
|
4,501
|
|
4,576
|
|
|
Cost of media and other
distribution and services
|
115
|
|
136
|
|
237
|
|
312
|
|
|
|
Total cost of
revenues
|
2,398
|
|
2,301
|
|
4,738
|
|
4,888
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
17,167
|
|
12,933
|
|
38,082
|
|
29,023
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Selling, general and
administrative (1)
|
14,122
|
|
11,875
|
|
26,887
|
|
24,584
|
|
|
Product development
(1)
|
6,868
|
|
4,633
|
|
13,519
|
|
9,334
|
|
|
|
Total operating
expenses
|
20,990
|
|
16,508
|
|
40,406
|
|
33,918
|
|
Loss from operations
|
(3,823)
|
|
(3,575)
|
|
(2,324)
|
|
(4,895)
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income (expense),
net
|
385
|
|
432
|
|
786
|
|
1,026
|
|
Other income (expense),
net
|
71
|
|
529
|
|
(42)
|
|
139
|
|
Loss before income
taxes
|
(3,367)
|
|
(2,614)
|
|
(1,580)
|
|
(3,730)
|
|
Income tax provision
(benefit)
|
(546)
|
|
(255)
|
|
(15)
|
|
61
|
|
Net loss
|
$ (2,821)
|
|
$ (2,359)
|
|
$ (1,565)
|
|
$ (3,791)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net loss per
share
|
$ (0.09)
|
|
$ (0.07)
|
|
$ (0.05)
|
|
$ (0.12)
|
|
Diluted net loss per
share
|
$ (0.09)
|
|
$ (0.07)
|
|
$ (0.05)
|
|
$ (0.12)
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used to compute basic net
loss per share
|
33,010
|
|
32,589
|
|
32,924
|
|
32,532
|
|
Shares used to compute diluted
net loss per share
|
33,010
|
|
32,589
|
|
32,924
|
|
32,532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Includes share-based
compensation as follows:
|
|
|
|
|
|
|
|
|
Selling, general and
administrative
|
$ 2,081
|
|
$ 1,831
|
|
$ 3,872
|
|
$ 3,713
|
|
Product development
|
601
|
|
524
|
|
1,210
|
|
841
|
|
|
|
|
$ 2,682
|
|
$ 2,355
|
|
$ 5,082
|
|
$ 4,554
|
|
|
|
|
|
|
|
|
|
|
|
DivX, Inc.
|
|
UNAUDITED RECONCILIATION OF
NON-GAAP ADJUSTMENTS
|
|
(in thousands, except per share
data)
|
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June
30,
|
|
Six Months Ended June
30,
|
|
|
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
Net Income:
|
|
|
|
|
|
|
|
|
|
GAAP net loss
|
$ (2,821)
|
|
$ (2,359)
|
|
$ (1,565)
|
|
$ (3,791)
|
|
|
|
Share-based
compensation
|
2,682
|
|
2,355
|
|
5,082
|
|
4,554
|
|
|
|
Acquisition related
expenses
|
1,182
|
|
-
|
|
1,182
|
|
-
|
|
|
|
Amortization of purchased
intangible assets
|
475
|
|
532
|
|
985
|
|
1,043
|
|
|
|
Foreign exchange loss (gain) on
Euro-denominated intercompany loan
|
165
|
|
(287)
|
|
302
|
|
26
|
|
|
|
Adjustments to the fair value of
AnySource acquisition contingent consideration
|
102
|
|
-
|
|
378
|
|
-
|
|
|
|
Valuation allowance /
adjustments on deferred tax assets
|
895
|
|
462
|
|
764
|
|
1,218
|
|
|
|
Gain on purchase of MainConcept
Japan Controlling interest
|
(213)
|
|
-
|
|
(213)
|
|
-
|
|
|
|
Income tax effects of pre-tax
adjustments
|
(1,707)
|
|
(794)
|
|
(2,998)
|
|
(1,987)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
(loss)
|
$
760
|
|
$
(91)
|
|
$ 3,917
|
|
$ 1,063
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
share:
|
|
|
|
|
|
|
|
|
|
GAAP diluted loss per
share
|
$ (0.09)
|
|
$ (0.07)
|
|
$ (0.05)
|
|
$ (0.12)
|
|
|
|
Share-based
compensation
|
0.08
|
|
0.07
|
|
0.15
|
|
0.14
|
|
|
|
Acquisition related
expenses
|
0.04
|
|
-
|
|
0.04
|
|
-
|
|
|
|
Amortization of purchased
intangible assets
|
0.01
|
|
0.02
|
|
0.03
|
|
0.03
|
|
|
|
Foreign exchange loss (gain) on
Euro-denominated intercompany loan
|
-
|
|
(0.01)
|
|
0.01
|
|
-
|
|
|
|
Adjustments to the fair value of
AnySource acquisition contingent consideration
|
-
|
|
-
|
|
0.01
|
|
-
|
|
|
|
Valuation allowance /
adjustments on deferred tax assets
|
0.03
|
|
0.01
|
|
0.02
|
|
0.04
|
|
|
|
Gain on purchase of MainConcept
Japan Controlling interest
|
(0.01)
|
|
-
|
|
(0.01)
|
|
-
|
|
|
|
Income tax effects of pre-tax
adjustments
|
(0.05)
|
|
(0.02)
|
|
(0.09)
|
|
(0.06)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP diluted earnings (loss)
per share
|
$ 0.02
|
|
$ 0.00
|
|
$ 0.12
|
|
$ 0.03
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP shares used to
compute diluted net earnings (loss) per share
|
33,566
|
|
32,589
|
|
33,382
|
|
32,880
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table sets forth
the computation of Non- GAAP basic and diluted net earnings per
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator:
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
$
760
|
|
$
(91)
|
|
$ 3,917
|
|
$ 1,063
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator:
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares
outstanding (basic)
|
33,010
|
|
32,589
|
|
32,924
|
|
32,532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares
outstanding (diluted)
|
33,566
|
|
32,589
|
|
33,382
|
|
32,880
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net earnings (loss) per
share
|
$ 0.02
|
|
$ (0.00)
|
|
$ 0.12
|
|
$ 0.03
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net earnings (loss) per
share
|
$ 0.02
|
|
$ (0.00)
|
|
$ 0.12
|
|
$ 0.03
|
|
|
|
|
|
|
|
|
|
|
|
DivX, Inc.
|
|
CONSOLIDATED CONDENSED
STATEMENTS OF CASH FLOW
|
|
(in thousands)
|
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June
30,
|
|
Six Months Ended June
30,
|
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating
activities
|
$ 8,163
|
|
$ 1,518
|
|
$ 5,762
|
|
$ 4,050
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in)
investing activities
|
11,401
|
|
(565)
|
|
7,402
|
|
(25,365)
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in)
financing activities
|
1,364
|
|
504
|
|
1,508
|
|
960
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes
on cash
|
(162)
|
|
227
|
|
(200)
|
|
119
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash
and cash equivalents
|
20,766
|
|
1,684
|
|
14,472
|
|
(20,236)
|
|
Cash and cash equivalents at
beginning of period
|
8,589
|
|
21,522
|
|
14,883
|
|
43,442
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end
of period
|
$ 29,355
|
|
$ 23,206
|
|
$ 29,355
|
|
$ 23,206
|
|
|
|
|
|
|
|
|
|
SOURCE DivX, Inc.
Copyright g. 4 PR Newswire