-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TKQPh3kcj2yS7PtgxFUTsDuNXt/qE6AkYlwkKlQ4IJ0zQM1NB2IbJb3yfig4dqq5 l+Y6WWckgQwrDA70lwNhMg== 0000899243-99-000935.txt : 19990510 0000899243-99-000935.hdr.sgml : 19990510 ACCESSION NUMBER: 0000899243-99-000935 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990328 FILED AS OF DATE: 19990507 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEXAS MICRO INC CENTRAL INDEX KEY: 0000724621 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 042738973 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-18238 FILM NUMBER: 99614223 BUSINESS ADDRESS: STREET 1: 5959 CORPORATE DRIVE CITY: HOUSTON STATE: TX ZIP: 77036 BUSINESS PHONE: 7135418200 MAIL ADDRESS: STREET 1: 5959 CORPORATE DRIVE STREET 2: SUITE 1600 CITY: HOUSTON STATE: TX ZIP: 77036 FORMER COMPANY: FORMER CONFORMED NAME: SEQUOIA SYSTEMS INC DATE OF NAME CHANGE: 19920703 10-Q 1 FORM 10-Q ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ----------- FORM 10-Q ----------- [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 28, 1999 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NUMBER 0-18238 TEXAS MICRO INC. (Exact Name of Registrant as Specified in its Charter) DELAWARE 04-2738973 (State or other jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) 5959 CORPORATE DRIVE, HOUSTON, TEXAS 77036 (Address of Principal Executive Offices) (Zip Code) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 713-541-8200 ----------- Indicate by check mark whether registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] As of May 3, 1999, 13,485,525 shares of the registrant's Common Stock, $.40 par value, were outstanding. ================================================================================ PART I FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEETS TEXAS MICRO INC. AND SUBSIDIARIES March 28, June 30, 1999 1998 ASSETS (unaudited) ----------- -------- (in thousands) Current Assets: Cash and cash equivalents $ 5,767 $ 7,568 Accounts receivable, net of allowance for doubtful accounts of $856 at March 28, 1999 and $888 at June 30, 1998 14,155 11,508 Inventories 11,760 8,291 Other current assets 1,699 1,825 -------- -------- Total current assets 33,381 29,192 -------- -------- Equipment and improvements, at cost: Computer equipment 3,761 3,379 Machinery and equipment 4,462 4,270 Furniture and fixtures 1,043 1,011 Leasehold improvements 1,866 968 Construction in progress 2,319 519 -------- -------- 13,451 10,147 Less - Accumulated depreciation and amortization 7,360 6,549 -------- -------- 6,091 3,598 -------- -------- Other assets 268 66 -------- -------- Total Assets $ 39,740 $ 32,856 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 5,961 $ 3,886 Accrued expenses 7,389 5,783 -------- -------- Total current liabilities 13,350 9,669 -------- -------- Commitments and contingencies Stockholders' Equity: Preferred stock, $.40 par value: Authorized--12,500 shares at March 28, 1999 and June 30, 1998 Issued--none - - Common stock, $.40 par value: Authorized--35,000 shares at March 28, 1999 and June 30, 1998 Issued--15,643 shares at March 28, 1999 and June 30, 1998 6,257 6,257 Additional paid-in capital 80,314 80,314 Accumulated deficit (54,374) (57,468) Unrealized loss on securities available for sale (450) (325) Treasury stock, at cost, 2,157 shares at March 28, 1999 and 2,250 shares at June 30, 1998 (5,177) (5,400) Cumulative translation adjustment (180) (191) -------- -------- Total stockholders' equity 26,390 23,187 -------- -------- Total Liabilities and Stockholders' Equity $ 39,740 $ 32,856 ======== ========
The accompanying notes are an integral part of these consolidated financial statements. 2
CONSOLIDATED STATEMENTS OF OPERATIONS TEXAS MICRO INC. AND SUBSIDIARIES (unaudited) For the three months ended, For the nine months ended, March 28, March 29, March 28, March 29, 1999 1998 1999 1998 ------- ------- ------- ------- (in thousands, except per share data) Revenues Product $20,803 $16,146 $61,920 $50,689 Service and other 336 561 1,598 986 ------- ------- ------- ------- Total revenues 21,139 16,707 63,518 51,675 Cost of revenues Product 13,307 11,563 40,493 35,765 Service and other 267 - 768 - ------- ------- ------- ------- Total cost of revenues 13,574 11,563 41,261 35,765 Gross profit 7,565 5,144 22,257 15,910 Research and development expenses 2,029 1,859 6,608 5,717 Selling, general and administrative expenses 4,377 3,472 12,794 10,948 ------- ------- ------- ------- Total operating expenses 6,406 5,331 19,402 16,665 Income (loss) from operations 1,159 (187) 2,855 (755) Interest income 86 85 263 245 Other income (expense) 86 250 289 288 ------- ------- ------- ------- Income (loss) before provision for income taxes 1,331 148 3,407 (222) Provision for income taxes 126 35 322 82 ------- ------- ------- ------- Net income (loss) $ 1,205 $ 113 $ 3,085 $ (304) ======= ======= ======= ======= Basic income (loss) per share $0.09 $ 0.01 $ 0.23 $ (0.02) ======= ======= ======= ======= Diluted income (loss) per share $0.09 $ 0.01 $ 0.22 $ (0.02) ======= ======= ======= ======= Average common shares outstanding 13,452 13,536 13,432 13,517 ======= ======= ======= ======= Average common shares assuming dilution 14,014 13,872 13,745 13,517 ======= ======= ======= =======
The accompanying notes are an integral part of these consolidated financial statements. 3
CONSOLIDATED STATEMENTS OF CASH FLOWS TEXAS MICRO INC. AND SUBSIDIARIES (unaudited) For the nine months ended, March 28, March 29, 1999 1998 ---------- --------- (in thousands) Cash Flows From Operating Activities: Net income (loss) $3,085 ($304) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities-- Depreciation 1,190 1,086 Amortization 62 80 Provisions for inventories 956 340 Provisions for bad debts 172 54 Changes in assets and liabilities: Accounts receivable (2,868) (2,134) Inventories (4,437) (219) Other current assets (3) (282) Accounts payable 2,082 (1,068) Accrued expenses 1,612 306 ------- ------- Net cash provided by (used in) operating activities 1,851 (2,141) ------- ------- Cash Flows From Investing Activities: Purchase of equipment and improvements (3,682) (1,027) Proceeds from sale of SES business unit - 1,240 Increase (decrease) in other assets (264) 5 Net cash provided by (used in) investing activities ------- ------- (3,946) 218 ------- ------- Cash Flows From Financing Activities: Proceeds from issuance of common stock 232 157 Purchase of treasury stock - (101) ------- ------- Net cash provided by financing activities 232 56 ------- ------- Effect of exchange rates on cash 62 (44) ------- ------- Net Decrease in Cash and Cash Equivalents (1,801) (1,911) Cash and Cash Equivalents, beginning of period 7,568 8,386 ------- ------- Cash and Cash Equivalents, end of period $ 5,767 $ 6,475 ======= ======= Supplemental Disclosure of Cash Flow Information: Cash paid for income taxes $104 $63
The accompanying notes are an integral part of these consolidated financial statements. 4 Notes to Consolidated Financial Statements Texas Micro Inc. and Subsidiaries (unaudited) NOTE 1 - BASIS OF PRESENTATION - ------ Texas Micro Inc. (the "Company") is a provider of differentiated Intel-based computer systems and single board computers ("SBC's") for the communications and industrial automation markets. The Company operates in one segment, computer systems. The financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the "Commission"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company's latest audited financial statements, which are contained in the Company's Annual Report on Form 10-K for the year ended June 30, 1998, filed with the Commission on September 14, 1998. This information includes all adjustments (consisting of normal, recurring adjustments) which the Company considers necessary for a fair presentation of such information. The results of operations for the three and nine months ended March 28, 1999 are not necessarily indicative of results to be expected for the entire year. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. NOTE 2 - INVENTORIES - ------ Inventories including materials, labor and manufacturing overhead consisted of the following:
(in thousands) March 28, June 30, 1999 1998 -------- -------- Raw materials $ 7,360 $ 5,682 Work-in-progress 2,836 1,899 Finished goods 1,564 710 -------- -------- $11,760 $ 8,291 -------- --------
NOTE 3 - NET INCOME (LOSS) PER SHARE - ------ Basic income (loss) per share is based on the weighted average number of common shares outstanding during the period, while diluted income (loss) per share is computed to reflect the potential dilution of common stock under the Company's stock option plans. For loss periods, weighted average common share equivalents are excluded from the calculation as their effect would be antidilutive. NOTE 4 - COMPREHENSIVE INCOME - ------ The Company adopted Statement of Financial Accounting Standards ("SFAS") No. 130, "Reporting Comprehensive Income" during the first quarter of fiscal 1999. SFAS No. 130 establishes new rules for the reporting and presentation of comprehensive income and its components. The Company's comprehensive income is comprised of net income, foreign currency translation adjustments and unrealized losses on marketable securities held as available-for-sale investments. Comprehensive income (loss) was $1,132,000 and $2,981,000 for the three and nine-month periods ending March 28, 1999 compared to $59,000 and ($408,000) for the three and nine-month periods ending March 29, 1998. 5 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The Company is a provider of differentiated Intel-based computer systems and single board computers ("SBCs") for the communications and industrial automation markets. The Company operates in one segment, computer systems. RESULTS OF OPERATIONS REVENUES - -------- The Company's revenues for the third quarter of fiscal 1999, which ended March 28, 1999, of $21,139,000 increased 27% from $16,707,000 for the third quarter of fiscal 1998. During the third quarter of 1999, units shipped increased 43% and the average unit selling price declined 10% as compared with the third quarter of 1998. Service and other revenue decreased from $561,000 in the third quarter of fiscal 1998 to $336,000 in the third quarter of fiscal 1999. The service and other revenue recognized in the third quarter of fiscal 1998 is comprised solely of license revenue, while the service and other revenue recognized in the third quarter of fiscal 1999 is solely service revenue. Sales to the top five customers represented 41% of total revenues for the third quarter of fiscal 1999 and 27% for the third quarter of fiscal 1998. The Company had one customer that represented 18% of total revenues for the quarter ended March 28, 1999. The Company's revenues for the first nine months of fiscal 1999 of $63,518,000 increased 23% from $51,675,000 for the first nine months of fiscal 1998. During the first nine months of 1999, units shipped increased 35% and the average unit selling price declined 9% as compared with the first nine months of 1998. Sales to the top five customers represented 43% of total revenues for the first nine months of fiscal 1999 compared to 23% of total revenues for the same period a year ago. Product revenues for both the three and nine months ended March 28, 1999 are higher than the comparable periods a year ago as a result of new design wins, the introduction of new products and a ramp up in products sold to existing strategic customer accounts. Sales outside the United States for the third quarter of fiscal 1999 increased to $6,578,000 or 31% of total revenues, from $4,865,000, or 29% of total revenues for the third quarter of fiscal 1998. For the nine months ended March 28, 1999, sales outside the United States comprised $19,882,000, or 31% of total revenues, as compared to $15,562,000, or 30%, for the comparable period a year ago. GROSS MARGIN - ------------ Gross margin of 36% for the third quarter of fiscal 1999 reflected an increase of 5 percentage points from 31% in the third quarter of fiscal 1998. This increase is primarily attributable to economies of scale generated by the growth in production volume and efficiencies gained in manufacturing partially offset by a decrease in license revenue recorded. Gross margin of 35% for the first nine months of fiscal 1999 reflected an increase of 4 percentage points from 31% for the first nine months of fiscal 1998. This increase is attributable to economies of scale generated by the growth in product revenues and efficiencies gained in manufacturing. Offsetting the increase in product margin, the Company recognized $830,000 in gross margin related to service and other sales revenues during the first nine months of fiscal 1999 compared to $986,000 for the same period in fiscal 1998. The Company provides its customers with systems and SBCs requiring long product life cycles. Gross margins are generally lower during the start up phase of the product life cycle and have the potential to improve as volume increases. In order to achieve its gross margin targets, while providing its customers with competitive pricing, the Company continuously monitors its costs and makes appropriate pricing revisions, which usually result in lower prices to its customers. Continued fluctuations in future margin levels may result from the timing of large design wins and component cost reductions, product mix, and the level of production efficiencies. 6 RESEARCH AND DEVELOPMENT EXPENSES - --------------------------------- The Company's research and development expenses of $2,029,000 for the third quarter of fiscal 1999 increased 9% from $1,859,000 for the third quarter of fiscal 1998. As a percent of revenues, research and development expenses decreased to 10% for the third quarter of fiscal 1999 from 11% for the third quarter of fiscal 1998. For the first nine months of fiscal 1999, research and development expenses increased to $6,608,000 or 16% from $5,717,000 for the first nine months of fiscal 1998. As a percent of revenues, research and development expenses decreased to 10% for the first nine months of 1999 from 11% for the first nine months of 1998. The increase in research and development expense for the three and nine month periods ending March 28, 1999 over the same periods in the prior year is due to continued investment in new product development, primarily in the Calvin and CompactPCI products, enhancements to existing products and new customer design wins. In addition, the Company continues its research and development activities on highly available Intel-based servers. SELLING, GENERAL AND ADMINISTRATIVE EXPENSES - -------------------------------------------- Selling, general and administrative expenses increased 26% to $4,377,000, or 21% of revenues, for the third quarter of fiscal 1999 from $3,472,000, or 21% of revenues, for the third quarter of fiscal 1998. The increase in expenses are primarily due to an increase in enterprise wide computer system implementation related costs and higher employment costs. Selling, general and administrative expenses increased 17% to $12,794,000, or 20% of revenues, for the first nine months of fiscal 1999 from $10,948,000, or 21% of revenues, for the first nine months of fiscal 1998. The increase in expenses compared to the same periods in the prior fiscal year is primarily due to an increase in enterprise wide computer system implementation related costs, bad debt write-offs and higher employment costs. OPERATING INCOME (LOSS) - ----------------------- The Company reported income from operations of $1,159,000 for the third quarter of fiscal 1999, compared to a loss from operations of $187,000 for the third quarter of fiscal 1998. The increase in income from operations resulted from the increase in revenues and a higher gross margin percentage. For the first nine months of fiscal 1999 the Company reported operating income of $2,855,000, compared to a loss from operations of $755,000 for the prior year period. The improved results are primarily attributed to the increase in revenues and gross margin while minimizing the increase in operating expenses. INTEREST AND OTHER INCOME - ------------------------- The Company generated interest income of $86,000 and $263,000 during the three and nine months ended March 28, 1999, as compared to $85,000 and $245,000 for the comparable periods a year ago. Other income was $86,000 and $289,000 during the three and nine months ended March 28, 1999, as compared to $250,000 and $288,000 for the comparable periods a year ago. In the third quarter of fiscal 1998, the Company recorded a gain related to the sale of SES assets and a gain related to the sale of General Automation, Inc. common stock. INCOME TAXES - ------------ The Company recorded provisions for income taxes, primarily for alternative minimum, foreign and state income taxes, of $126,000 and $322,000 for the three and nine months ended March 28, 1999 compared to $35,000 and $82,000 for the three and nine months ended March 29, 1998. LIQUIDITY AND CAPITAL RESOURCES At March 28, 1999, the Company had cash and cash equivalents of $5,767,000 and working capital of $20,031,000. This compared to cash and cash equivalents of $7,568,000 and working capital of $19,523,000 at June 30, 1998. 7 Cash provided by operations was $1,851,000 for the nine months ended March 28, 1999. Cash provided by operating activities resulted primarily from net income and increases in accounts payable and accrued expenses associated with the Company's growth partially offset by increases in accounts receivable and inventories. The Company's capital expenditures during the nine months ended March 28, 1999 increased by $2,655,000 as compared to the same period a year ago, primarily due to expenditures for a new enterprise wide computer system and manufacturing equipment. Capital expenditures for the remaining portion of fiscal 1999 are expected to continue at the trend experienced in the first nine months of fiscal 1999. The Company believes that its present cash flow and cash balances are adequate for its operating needs and capital expenditures through fiscal 1999. In June 1997, the FASB issued SFAS No. 131, "Disclosure about Segments of an Enterprise and Related Information". The Company intends to adopt this standard in the fourth quarter of fiscal year 1999. SFAS No. 131 establishes standards for reporting information about operating segments in annual financial statements and requires selected information about operating segments in interim financial reports issued to stockholders. It also establishes standards for related disclosures about products and services, geographic areas and major customers. This Statement supersedes SFAS No. 14, "Financial Reporting for Segments of a Business Enterprise", but retains the requirement to report information about major customers. SFAS No. 131 is not expected to have a material impact on the Company's consolidated financial statements. YEAR 2000 COMPLIANCE Many computer systems and imbedded chips may experience problems handling dates beyond the year 1999. Therefore, some devices containing imbedded chips and computer hardware and software will need to be modified prior to the Year 2000 in order to remain functional. In response to these Year 2000 issues, the Company has assigned a project team to assess the readiness of its internal business processes, non-financial software and imbedded chip systems, products sold to customers and external noncompliance by customers and suppliers for handling the Year 2000. The Company has created a website at www.texasmicro.com containing additional information about the Year 2000 issue and the Company's compliance program. INTERNAL BUSINESS PROCESSES. During fiscal 1999, as part of a business modernization program intended to reduce cycle time and improve profitability, the Company purchased an enterprise wide computer system, which the software vendor has indicated, is Year 2000 compliant. The total estimated hardware, software and installation cost for this new system is approximately $3 million of which approximately $2.2 million has been spent to date. The Company is currently in the implementation phase for this system with full implementation to be completed by September 1999. Based on this schedule, the Company expects to be in full compliance with its internal financial systems before the Year 2000. However, if due to unforeseen circumstances, the implementation is not completed on a timely basis, the Year 2000 could have a material impact on the operations of the Company. Contingency plans have been established in a few areas where the Company believes there is some risk that the system will not be implemented before Year 2000. Those plans include adapting or replacing some of the Company's currently existing systems to make them Year 2000 compliant. The cost of making those adaptations are not expected to be material and will be expensed in the period incurred. INTERNAL NON-FINANCIAL SOFTWARE AND IMBEDDED CHIP TECHNOLOGY. The Company is in the assessment phase with regard to non-financial software and imbedded chip systems and is currently assessing the impact of the Year 2000 on its non- financial systems such as manufacturing equipment, security equipment, etc., with completion of the Year 2000 assessment scheduled for September 1999. The Company does not, at this time, have sufficient data to estimate the cost of achieving Year 2000 compliance for its major non-financial systems and as such, the costs of achieving Year 2000 compliance could have a material impact on the operations of the Company. Since the Company is in the assessment phase, the Company does not currently have a formal contingency plan in place for its internal non-financial software and imbedded chip systems. A Year 2000 failure with respect to certain Company non-financial systems such as manufacturing equipment could have a material adverse affect on the Company's financial condition and results of operations. 8 PRODUCTS SOLD TO CUSTOMERS. The Company believes that it has substantially identified and resolved all potential Year 2000 problems with hardware products which it currently develops and markets. However, management also believes that it is not possible to determine with complete certainty that all Year 2000 problems affecting the Company's hardware products have been identified or corrected due to the complexity of these products and the fact that these products interact with other third party vendor products and operate with software or in systems which are not under the Company's control. EXTERNAL NONCOMPLIANCE BY CUSTOMERS AND SUPPLIERS. The Company is also contacting critical suppliers of products and services to determine that the suppliers' and service providers' operations and the products and services they provide are Year 2000 capable or to monitor their progress toward Year 2000 capability. To the extent that responses to Year 2000 readiness are unsatisfactory, the Company intends to change suppliers or service providers to those who have demonstrated Year 2000 readiness. No assurances can be given that the Company will be successful in finding such alternative suppliers and service providers. In the event that any of the Company's significant suppliers do not successfully and timely achieve Year 2000 compliance, and the Company is unable to replace them with alternate suppliers, the Company's business or operations could be adversely affected. The Company does not currently have any formal information concerning the Year 2000 compliance status of its customers but has received indications that many of its customers are working on Year 2000 compliance. In the event that any of the Company's significant customers do not successfully and timely achieve Year 2000 compliance, the Company's business or operations could be adversely affected through a delay by the customer in placing orders with the Company or delays in payments due the Company. CERTAIN FACTORS THAT MAY AFFECT FUTURE RESULTS Statements in this Quarterly Report on Form 10-Q that relate to future results or events are based on the Company's current expectations. There are many factors that affect the Company's business and the results of its operations and may cause the actual results to differ materially from those expected, projected or contained in forward-looking statements. These factors include technological changes and the ability of the Company to develop new products; the customer demand and market acceptance of the Company's products; the ability of the Company to manage its inventory levels to minimize excess inventory, declining inventory values and obsolescence; the risks and uncertainties relating to the Company's foreign operations including foreign currency fluctuations and intellectual property risk and risks associated with the Year 2000 issue. For a discussion of these and other factors affecting the Company's business, see "ITEM 1. BUSINESS -- Certain Factors That May Affect Future Results" in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 1998 and the preceding section, "Year 2000 Compliance." PART II OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS The Company is from time to time a party to various lawsuits arising in the ordinary course of business. The Company knows of no pending litigation which is reasonably likely to have a material adverse impact on its financial condition or its results of operations. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K a) Exhibits 27 Financial Data Schedule b) Reports on Form 8-K None. 9 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. TEXAS MICRO INC. Date: May 7, 1999 By: /s/ J. Michael Stewart ---------------------- J. Michael Stewart President and Chief Executive Officer Date: May 7, 1999 By: /s/ Kermit R. Sumrall --------------------- Kermit R. Sumrall Secretary and Acting Chief Financial Officer Date: May 7, 1999 By: /s/ Michael L. Baudler ---------------------- Michael L. Baudler Controller 10 EX-27 2 FINANCIAL DATA SCHEDULE
5 0000724621 TEXAS MICRO INC. 1,000 US DOLLARS 9-MOS JUN-30-1999 DEC-28-1998 MAR-28-1999 1 5,767 0 15,011 856 11,760 33,381 13,451 7,360 39,740 13,350 0 0 0 6,257 20,133 39,740 61,920 63,518 40,493 41,261 19,402 0 0 3,407 322 3,085 0 0 0 3,085 0.23 0.22
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