EX-99.01 3 dex9901.htm UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS Unaudited Consolidated Statements of Operations
Exhibit 99.01
 
Keynote Systems, Inc.
 
STATEMENTS OF OPERATIONS, CONSOLIDATED
 
(In thousands, except per share data)

    
Three months ended September 30,

      
Year ended September 30,

 
      
2002

      
2001

      
2002

      
2001

 
      
(Unaudited)
      
(Unaudited)
 
Revenue:
                                           
Subscription services
    
$
8,311
 
    
$
8,944
 
    
$
34,180
 
    
$
43,428
 
Consulting and support services
    
 
1,357
 
    
 
571
 
    
 
3,760
 
    
 
2,201
 
      


    


    


    


Total revenue
    
 
9,668
 
    
 
9,515
 
    
 
37,940
 
    
 
45,629
 
Expenses:
                                           
Costs of subscription services
    
 
2,595
 
    
 
3,759
 
    
 
11,565
 
    
 
13,388
 
Costs of consulting and support services
    
 
777
 
    
 
748
 
    
 
3,408
 
    
 
2,971
 
Research and development
    
 
2,008
 
    
 
1,856
 
    
 
8,428
 
    
 
7,256
 
Sales and marketing
    
 
4,775
 
    
 
5,048
 
    
 
19,209
 
    
 
21,626
 
Operations
    
 
1,768
 
    
 
2,183
 
    
 
7,804
 
    
 
7,722
 
General and administrative
    
 
2,004
 
    
 
1,783
 
    
 
8,137
 
    
 
7,048
 
Restructuring costs
    
 
—  
 
    
 
—  
 
    
 
—  
 
    
 
271
 
Excess facility costs
    
 
—  
 
    
 
11,012
 
    
 
—  
 
    
 
11,012
 
Property impairment charge
    
 
52,028
 
    
 
—  
 
    
 
52,028
 
    
 
—  
 
Acquisition-related charges, impairment
and amortization of intangible assets,
and stock-based compensation
    
 
524
 
    
 
512
 
    
 
1,727
 
    
 
48,418
 
      


    


    


    


Total expenses
    
 
66,479
 
    
 
26,901
 
    
 
112,306
 
    
 
119,712
 
      


    


    


    


Loss from operations
    
 
(56,811
)
    
 
(17,386
)
    
 
(74,366
)
    
 
(74,083
)
Interest income, net
    
 
2,935
 
    
 
3,704
 
    
 
11,999
 
    
 
18,282
 
      


    


    


    


Loss before provision for income
taxes and the cumulative effect
of a change in accounting principle
    
 
(53,876
)
    
 
(13,682
)
    
 
(62,367
)
    
 
(55,801
)
Provision for income taxes
    
 
—  
 
    
 
150
 
    
 
—  
 
    
 
600
 
      


    


    


    


Net loss before cumulative effect of a change in accounting principle
    
 
(53,876
)
    
 
(13,832
)
    
 
(62,367
)
    
 
(56,401
)
Cumulative effect of a change in accounting principle
    
 
—  
 
    
 
—  
 
    
 
(3,160
)
    
 
—  
 
      


    


    


    


Net loss
    
$
(53,876
)
    
$
(13,832
)
    
$
(65,527
)
    
$
(56,401
)
      


    


    


    


Net loss per share:
                                           
Basic and diluted
    
$
(1.93
)
    
$
(0.50
)
    
$
(2.35
)
    
$
(2.04
)
Weighted average common shares outstanding used:
                                           
Basic and diluted
    
 
27,896
 
    
 
27,864
 
    
 
27,864
 
    
 
27,713
 


Keynote Systems, Inc.
 

 
BALANCE SHEETS, CONSOLIDATED
 
 
(In thousands)

  
September 30 , 2002

    
September 30, 2001

 
Assets
                 
Current assets:
                 
Cash and short-term investments
  
$
239,287
 
  
$
254,193
 
Accounts receivable, net
  
 
4,820
 
  
 
7,862
 
Prepaid and other current assets
  
 
1,272
 
  
 
2,152
 
    


  


Total current assets
  
 
245,379
 
  
 
264,207
 
Restricted cash
  
 
—  
 
  
 
85,000
 
Property and equipment, net
  
 
37,468
 
  
 
17,208
 
Goodwill and other intangible assets
  
 
2,934
 
  
 
4,497
 
Other assets
  
 
—  
 
  
 
1,752
 
    


  


Total assets
  
$
285,781
 
  
$
372,664
 
    


  


Liabilities and Stockholders’ Equity
                 
Current liabilities:
                 
Current portion of notes payable and capital lease obligation
  
$
—  
 
  
$
830
 
Accounts payable
  
 
1,014
 
  
 
2,385
 
Accrued expenses
  
 
8,191
 
  
 
10,626
 
Accrued excess facility costs
  
 
—  
 
  
 
10,303
 
Deferred revenue
  
 
5,121
 
  
 
5,401
 
    


  


Total current liabilities
  
 
14,326
 
  
 
29,545
 
    


  


Total liabilities
  
 
14,326
 
  
 
29,545
 
Stockholders’ equity:
                 
Common stock
  
 
28
 
  
 
28
 
Treasury stock
  
 
(6,988
)
  
 
(1,086
)
Additional paid-in capital
  
 
413,684
 
  
 
413,966
 
Deferred compensation
  
 
(31
)
  
 
(452
)
Accumulated deficit
  
 
(137,333
)
  
 
(71,804
)
Accumulated other comprehensive income
  
 
2,095
 
  
 
2,467
 
    


  


Total stockholders’ equity
  
 
271,455
 
  
 
343,119
 
    


  


Total liabilities and stockholders’ equity
  
$
285,781
 
  
$
372,664