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EXHIBIT 13.1
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SELECTED CONSOLIDATED FINANCIAL DATA
SELECTED CONSOLIDATED FINANCIAL DATA - The following table sets forth selected
consolidated financial information of the Company for the five years in the
period ended July 31, 2000. The following selected consolidated financial data
should be read in conjunction with "Management's Discussion and Analysis of
Results of Operations" and the Company's consolidated financial statements and
notes to those statements included elsewhere or incorporated by reference in
this report. The following consolidated financial data includes the results of
operations (from dates of acquisition) of the Company's fiscal 1997 acquisition
of Pacific Direct Marketing Corporation, the fiscal 1998 acquisitions of
Accipiter, Inc., InSolutions, Inc., Servercast Communications, LLC and On-Demand
Solutions, Inc., the fiscal 1999 acquisitions of Magnitude Network, Inc., 2CAN
Media, Inc., Internet Profiles Corporation, Activerse, Inc., Nascent
Technologies, Inc., Netwright, LLC and Digiband, Inc. and the fiscal 2000
acquisitions AltaVista Company, AdForce, Inc., Flycast Communications
Corporation, yesmail.com, inc., Tallan, Inc., uBid, Inc. and eighteen other
companies. See Note 8 to the Company's consolidated financial statements for
further information concerning these acquisitions. The historical results
presented herein are not necessarily indicative of future results.
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Years ended July 31,
2000 1999 1998 1997 1996
---- ---- ---- ---- ----
(in thousands, except per share data)
Consolidated Statement of Operations Data:
<S> <C> <C> <C> <C> <C>
Net revenue $ 898,050 $ 186,389 $ 92,197 $ 67,306 $ 20,873
Cost of revenue 737,264 179,553 83,021 42,116 14,353
Research and development expenses 153,974 22,253 19,108 17,767 5,412
In-process research and development expenses 65,683 6,061 10,325 1,312 2,691
Selling, general and administrative expenses 694,056 89,054 46,909 45,777 16,812
Amortization of intangible assets and stock-based compensation 1,436,880 16,127 3,093 1,254 --
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Operating loss (2,189,807) (126,659) (70,259) (40,920) (18,395)
Interest income (expense), net (15,096) 269 (870) 1,749 2,691
Gains on issuance of stock by subsidiaries and affiliates 80,387 130,729 46,285 -- 19,575
Other gains, net 525,265 758,312 96,562 27,140 30,049
Other income (expense), net 113,385 (13,406) (12,899) (769) (746)
Income tax benefit (expense) 121,173 (325,402) (31,555) (2,034) (17,566)
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Income (loss) from continuing operations (1,364,693) 423,843 27,264 (14,834) 15,608
Discontinued operations, net of income taxes -- 52,397 4,640 (7,193) (1,286)
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Net income (loss) (1,364,693) 476,240 31,904 (22,027) 14,322
Preferred stock accretion and amortization of discount (11,223) (1,662) -- -- --
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Net income (loss) available to common stockholders $(1,375,916) $ 474,578 $ 31,904 $(22,027) $ 14,322
=========== ========== ======== ======== ========
Diluted earnings (loss) per share:
Earnings (loss) from continuing operations $ (5.26) $ 2.05 $ 0.15 $ (0.10) $ 0.10
Discontinued operations -- 0.25 0.03 (0.05) (0.01)
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Net earnings (loss) $ (5.26) $ 2.30 $ 0.18 $ (0.15) $ 0.09
=========== ========== ======== ======== ========
Shares used in computing diluted earnings (loss) per share 261,555 206,832 180,120 150,864 154,912
=========== ========== ======== ======== ========
Consolidated Balance Sheet Data:
Working capital $ 1,110,105 $1,381,005 $ 12,784 $ 38,554 $ 72,009
Total assets 8,557,107 2,404,594 259,818 146,248 106,105
Long-term obligations 278,968 34,867 5,801 16,754 514
Redeemable preferred stock 383,140 411,283 -- -- --
Stockholders' equity 5,785,802 1,062,461 133,136 29,448 53,992
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