| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
March 31, |
|
|
|
|
|
2000 |
|
1999 |
|
|
|
|
|
|
Operating Activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
|
$ |
9,520 |
|
|
$ |
(25,500 |
) |
|
|
|
|
|
|
Adjustments to reconcile net loss to net cash used in operating
activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
12,542 |
|
|
|
6,266 |
|
|
|
|
|
|
|
Amortization of deferred interest, cost of revenue and marketing
and sales related to issuance of warrants |
|
|
271 |
|
|
|
424 |
|
|
|
|
|
|
|
Amortization of goodwill and other intangible assets |
|
|
14,294 |
|
|
|
1,391 |
|
|
|
|
|
|
|
Amortization of financing costs |
|
|
247 |
|
|
|
134 |
|
|
|
|
|
|
|
Amortization of other deferred assets |
|
|
497 |
|
|
|
488 |
|
|
|
|
|
|
|
Amortization of deferred compensation |
|
|
94 |
|
|
|
93 |
|
|
|
|
|
|
|
Preferred stock dividends and accretion |
|
|
8,006 |
|
|
|
5,553 |
|
|
|
|
|
|
|
Changes in current assets and liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable |
|
|
(526 |
) |
|
|
1,345 |
|
|
|
|
|
|
|
Other current assets |
|
|
77 |
|
|
|
(335 |
) |
|
|
|
|
|
|
Prepaid expenses |
|
|
(502 |
) |
|
|
(1,055 |
) |
|
|
|
|
|
|
Accounts payable |
|
|
(3,464 |
) |
|
|
(2,392 |
) |
|
|
|
|
|
|
Accrued compensation and other employee benefits |
|
|
224 |
|
|
|
184 |
|
|
|
|
|
|
|
Deferred revenue |
|
|
160 |
|
|
|
337 |
|
|
|
|
|
|
|
Other current liabilities |
|
|
(3,678 |
) |
|
|
5,454 |
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities |
|
|
37,761 |
|
|
|
(7,613 |
) |
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in restricted cash |
|
|
124,967 |
|
|
|
— |
|
|
|
|
|
|
|
Additions of property and equipment |
|
|
(8,175 |
) |
|
|
(10,832 |
) |
|
|
|
|
|
|
Net change in notes receivable |
|
|
16,000 |
|
|
|
— |
|
|
|
|
|
|
|
Net change in short term investments |
|
|
21,529 |
|
|
|
3,954 |
|
|
|
|
|
|
|
Net change in long term investments |
|
|
4,306 |
|
|
|
(10,205 |
) |
|
|
|
|
|
|
Cash investment in Internet Technology Group, net of cash
acquired |
|
|
(134,263 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities |
|
|
24,364 |
|
|
|
(17,083 |
) |
|
Financing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in restricted cash |
|
|
(280 |
) |
|
|
(497 |
) |
|
|
|
|
|
|
Net change in notes payable |
|
|
2,978 |
|
|
|
— |
|
|
|
|
|
|
|
Repayment of lease obligations |
|
|
(2,582 |
) |
|
|
(1,550 |
) |
|
|
|
|
|
|
Proceeds from issuances of stock and warrants |
|
|
14,490 |
|
|
|
153,416 |
|
|
|
|
|
|
|
Foreign currency translation |
|
|
386 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by financing activities |
|
|
14,992 |
|
|
|
151,369 |
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
|
77,117 |
|
|
|
126,673 |
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
|
|
25,891 |
|
|
|
98,988 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
|
$ |
103,008 |
|
|
$ |
225,661 |
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures of Noncash Investing and Financing
Activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital lease obligations incurred |
|
$ |
— |
|
|
$ |
587 |
|
|
|
|
|
|
|
Supplemental Disclosures of Cash Flow Information Interest paid |
|
$ |
1,252 |
|
|
$ |
365 |
|
