AUTHENTEC INC

CIK:0001138830|SEC Filings

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Jun. 29, 2012	Jul. 01, 2011	Jun. 29, 2012	Jul. 01, 2011
Revenue	$ 20,547,000	$ 16,211,000	$ 38,007,000	$ 31,687,000
Cost of revenue	8,755,000	8,464,000	16,176,000	16,515,000
Gross profit	11,792,000	7,747,000	21,831,000	15,172,000
Operating expenses
Research and development	6,047,000	6,477,000	11,776,000	12,364,000
Selling and marketing	4,333,000	4,077,000	8,231,000	8,067,000
General and administrative	2,442,000	1,740,000	4,201,000	4,198,000
Restructuring and impairment related charges		39,000		322,000
Total operating expenses	12,822,000	12,333,000	24,208,000	24,951,000
Loss from operations	(1,030,000)	(4,586,000)	(2,377,000)	(9,779,000)
Other income (expense):
Interest income	13,000	29,000	24,000	58,000
Other expenses	92,000	(146,000)	10,000	(449,000)
Total other income (expense), net	105,000	(117,000)	34,000	(391,000)
Loss before provision for income taxes	(925,000)	(4,703,000)	(2,343,000)	(10,170,000)
Provision for income taxes	306,000	141,000	406,000	276,000
Net loss	$ (1,231,000)	$ (4,844,000)	$ (2,749,000)	$ (10,446,000)
Net loss per common share, basic (in Dollars per share)	$ (0.03)	$ (0.11)	$ (0.06)	$ (0.24)
Net loss per common share, diluted (in Dollars per share)	$ (0.03)	$ (0.11)	$ (0.06)	$ (0.24)
Shares used in computing basic net loss per common share (in Shares)	44,608	43,753	44,505	43,677
Shares used in computing diluted net loss per common share (in Shares)	44,608	43,753	44,505	43,677

Note 5 - Derivative Instruments (Detail) - Activity Related to Cash Flow Hedges (USD $) In Thousands, unless otherwise specified	3 Months Ended	6 Months Ended
	Jun. 29, 2012	Jun. 29, 2012
Foreign currency contracts	$ (182)	$ 4
Foreign currency contracts	$ (10)	$ 15

Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 29, 2012	Dec. 30, 2011
Current assets
Cash and cash equivalents	$ 21,316	$ 17,200
Restricted cash	750
Accounts receivable, net of allowances of $92 and $67, respectively	9,617	9,444
Inventory	9,704	8,111
Other current assets	1,690	1,716
Total current assets	43,077	36,471
Long-term investments	3,236	3,249
Purchased intangible assets	18,413	20,287
Goodwill	3,501	3,501
Property and equipment, net	3,452	3,640
Total assets	71,679	67,148
Current liabilities
Accounts payable	7,920	3,539
Accrued compensation and benefits	3,163	4,399
Accrued litigation related legal fees		114
Other accrued liabilities	4,256	2,634
Deferred revenue	5,970	4,145
Total current liabilities	21,309	14,831
Deferred rent	308	398
Other liabilities	354	768
Total liabilities	21,971	15,997
Commitments and contingencies (see note 9)
Stockholders’ equity
Common stock, $.01 par value; 100,000 shares authorized; 44,735 and 44,311 issued and outstanding at June 29, 2012 and December 30, 2011	448	443
Additional paid-in capital	194,022	192,694
Accumulated other comprehensive income	23	50
Accumulated deficit	(144,785)	(142,036)
Total stockholders’ equity	49,708	51,151
Total liabilities and stockholders’ equity	$ 71,679	$ 67,148