RIDE, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)
Dec 31    Jun 30    Dec 31
1998      1998      1997
ASSETS
Current assets:
Cash and cash equivalents                     $884      $165    $1,332
Accounts receivable, net                    17,704     4,487    12,588
Inventories                                  6,319     9,752     6,564
Prepaid expenses and other current             751       887       728
Income taxes receivable                        153     1,571     1,569
Deferred tax asset                               0         0       385
Total current assets                       25,811    16,862    23,166
Furniture and equipment, net                  4,992     5,792     5,670
Long term notes, net of discount              3,110     1,400     1,600
Goodwill, net                                 8,631     9,205     9,358
Other assets                                  1,146     1,345     1,201
Total assets                                $43,690   $34,604   $40,995
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts Payable & Accrued                  $6,618    $8,829    $5,963
Notes payable                               14,568     5,544     1,995
Total current liabilities                  21,186    14,373     7,958
Deferred taxes                                    0         0       385
Noncurrent liabilities                          924       979     1,582
Shareholders' equity:
Preferred Stock                              2,690     2,832     3,341
Common Stock                                43,465    43,257    42,393
Retained earnings                          (24,356)  (26,674)  (14,539)
Translation loss                              (219)     (163)     (125)
Total shareholders' equity                 21,580    19,252    31,070
Total liabilities and shareholders' equity  $43,690   $34,604   $40,995
RIDE INC.
Financial Highlights
(in thousands, except per share data)
RESULTS OF OPERATIONS:
Quarter Ended       Quarter Ended
December 31,        December 31,
1998      1997      1998      1997
Percentages
Net Sales                         $16,117   $10,701
Cost of Goods Sold                 11,624     8,699
Gross Profit                        4,493     2,002     27.9%     18.7%
Selling, general
and administrative expenses        4,024    13,901     25.0%    129.9%
Operating income (loss)               469   (11,899)     2.9%   -111.2%
Sale of Subsidiary                    680        --
Interest income (expense), net       (269)     (153)
Income (loss), before taxes           880   (12,052)     5.5%   -112.6%
Income tax expense (benefit)           --       868
Net income (loss)                    $880  $(12,920)     5.5%   -120.7%
Per share:
Basic                             $0.07    $(1.17)
Diluted                           $0.05    $(1.17)
Weighted average common
shares outstanding
Basic                            12,779    11,128
Diluted                          17,685    11,128
RIDE INC.
Financial Highlights
(in thousands, except per share data)
RESULTS OF OPERATIONS:
Six Months Ended    Six Months Ended
December 31,        December 31,
1998      1997      1998      1997
Percentages
Net Sales                         $34,499   $28,916
Cost of Goods Sold                 24,023    21,089
Gross Profit                       10,476     7,827     30.4%     27.1%
Selling, general and
administrative expenses            8,278    18,486     24.0%     63.9%
Operating income (loss)             2,198   (10,659)     6.4%    -36.9%
Sale of Subsidiary                    680        --
Interest income (expense), net       (486)     (291)
Income (loss), before taxes         2,392   (10,950)     6.9%    -37.9%
Income tax expense (benefit)           --     1,309
Net income (loss)                  $2,392  $(12,259)     6.9%    -42.4%
Per share:
Basic                             $0.18    $(1.10)
Diluted                           $0.14    $(1.10)
Weighted average common shares
outstanding
Basic                            12,699    11,128
Diluted                          16,606    11,128

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