Exhibit 99.3
PINNACLE SYSTEMS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per share data)
| Nine Months Ended March 31, |
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| 2005 |
2004 |
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| Original |
As Restated |
Change |
Original |
As Restated |
Change |
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| Net sales |
$ | 212,568 | $ | 212,568 | $ | — | $ | 220,763 | $ | 220,763 | $ | — | ||||||||||||
| Costs and expenses: |
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| Cost of sales |
118,206 | 118,206 | — | 130,180 | 130,180 | — | ||||||||||||||||||
| Engineering and product development |
24,036 | 24,036 | — | 27,591 | 27,591 | — | ||||||||||||||||||
| Sales, marketing, and service |
55,420 | 55,420 | — | 61,821 | 61,821 | — | ||||||||||||||||||
| General and administrative |
19,984 | 19,984 | — | 17,567 | 17,567 | — | ||||||||||||||||||
| Amortization of other intangible assets |
2,544 | 2,544 | — | 3,883 | 3,883 | — | ||||||||||||||||||
| Impairment of goodwill |
1,310 | 1,310 | — | 5,950 | 5,950 | — | ||||||||||||||||||
| Legal settlement |
(3,137 | ) | — | 3,137 | — | — | — | |||||||||||||||||
| Transaction costs |
2,752 | 2,752 | — | — | — | — | ||||||||||||||||||
| In-process research and development |
— | — | — | 2,193 | 2,193 | — | ||||||||||||||||||
| Restructuring costs |
5,597 | 5,597 | — | 3,640 | 3,640 | — | ||||||||||||||||||
| Total costs and expenses |
226,712 | 229,849 | 3,137 | 252,825 | 252,825 | — | ||||||||||||||||||
| Operating loss |
(14,144 | ) | (17,281 | ) | (3,137 | ) | (32,062 | ) | (32,062 | ) | — | |||||||||||||
| Interest paid on legal settlement |
— | — | — | (2,050 | ) | — | 2,050 | |||||||||||||||||
| Interest and other income, net |
1,276 | 1,276 | — | 1,515 | 1,515 | — | ||||||||||||||||||
| Loss from continuing operations before income taxes |
(12,868 | ) | (16,005 | ) | (3,137 | ) | (32,597 | ) | (30,547 | ) | 2,050 | |||||||||||||
| Income tax expense |
2,854 | 2,854 | — | 2,938 | 2,938 | — | ||||||||||||||||||
| Loss from continuing operations |
(15,722 | ) | (18,859 | ) | (3,137 | ) | (35,535 | ) | (33,485 | ) | 2,050 | |||||||||||||
| Income (loss) from discontinued operations, net of taxes |
(1,683 | ) | 1,454 | 3,137 | (7,591 | ) | (9,641 | ) | (2,050 | ) | ||||||||||||||
| Net loss |
$ | (17,405 | ) | $ | (17,405 | ) | $ | — | $ | (43,126 | ) | $ | (43,126 | ) | $ | — | ||||||||
| Loss per share from continuing operations: |
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| Basic and Diluted |
$ | (0.23 | ) | $ | (0.27 | ) | $ | (0.04 | ) | $ | (0.53 | ) | $ | (0.50 | ) | $ | 0.03 | |||||||
| Income (loss) per share from discontinued operations: |
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| Basic and Diluted |
$ | (0.02 | ) | $ | 0.02 | $ | 0.04 | $ | (0.12 | ) | $ | (0.15 | ) | $ | (0.03 | ) | ||||||||
| Net loss per share: |
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| Basic and Diluted |
$ | (0.25 | ) | $ | (0.25 | ) | $ | — | $ | (0.65 | ) | $ | (0.65 | ) | $ | — | ||||||||
| Shares used to compute per share amounts: |
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| Basic |
69,498 | 69,498 | — | 66,526 | 66,526 | — | ||||||||||||||||||
| Diluted |
69,498 | 69,803 | — | 66,526 | 66,526 | — | ||||||||||||||||||