Income Statement

v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands
3 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Revenue $ 3,548,000 $ 3,498,000
Cost of goods and services 2,034,000 1,968,000
Gross profit 1,514,000 1,530,000
Operating expenses:    
Engineering 437,000 355,000
Selling, general and administrative 969,000 1,047,000
Total operating expenses 1,406,000 1,402,000
Operating income 108,000 128,000
Interest expense:    
Interest expense, net (33,000) (57,000)
Interest expense from accretion of loan discount (19,000)
Total interest expense, net (33,000) (76,000)
Income before income taxes 75,000 52,000
Provision for income taxes 0 0
Net income 75,000 52,000
Deemed dividend on Series E shares (3,000) (37,000)
Net income attributable to common shareholders $ 72,000 $ 15,000
Income per common share – basic (in dollars per share) $ 0.03 $ 0.02
Income per common share – diluted (in dollars per share) $ 0.03 $ 0.01
Weighted average common shares used in per share calculation:    
Basic (in shares) 2,636 718
Diluted (in shares) 2,826 1,539
Product [Member]    
Revenue $ 1,109,000 $ 1,938,000
Service [Member]    
Revenue $ 2,439,000 $ 1,560,000

Source