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| CMTN > SEC Filings for CMTN > Form 8-K on 20-Jul-2004 | All Recent SEC Filings |
20-Jul-2004
Financial Statements and Exhibits
(c) Exhibits
99.1 Press release issued July 20, 2004.
Item 12. Results of Operations and Financial Condition
The information in this Current Report is being furnished and shall not bedeemed "filed" for the purposes of Section 18 of the Securities and Exchange Actof 1934, as amended, or otherwise subject to the liabilities of that Section.The information in this Current Report shall not be incorporated by referenceinto any registration statement or other document pursuant to the Securities Actof 1933, as amended.
On July 20, 2004, Copper Mountain Networks, Inc., (the "Company") issued a pressrelease announcing its unaudited financial results for the quarter ended June30, 2004. A copy of the press release is attached to this report as an exhibitand is incorporated herein by reference.
In addition, the Company from time to time discloses its Days Sales Outstanding("DSO") and cash burn, which are non-GAAP financial measures. During the quarterended June 30, 2004, DSO were 63. We calculate DSO as follows: The balance ofAccounts Receivable at the end of the calendar quarter (net of reserves, if any)is divided by net revenue for that quarter, this result is then multiplied bythe number of days in the respective quarter, resulting in the DSO figure. Cashburn for the quarter ended June 30, 2004 was $5.9 million. Cash burn is the netcash and short term investments utilized (each as shown on the Company's balancesheet prepared in accordance with GAAP) during the applicable period, excludingnet proceeds of $10.6 million from our common stock private placement whichclosed on May 6, 2004.
The Company believes the non-GAAP financial measures included above provideuseful information to investors regarding our financial condition and results ofoperations because they provide more detailed information regarding theCompany's financial results than financial measures calculated and presentedsolely in accordance with GAAP.
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