| Income Statement for Wave Systems Corp. (WAVX) | | | | | | | Income | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Operating Revenue | 6,307 | 3,116 | 1,018 | 209 | 189 | | Adjustments to Revenue | - | - | - | - | - | | Cost of Revenue | (456) | (321) | 115 | 703 | 1,186 | | Gross Operating Profit | 5,851 | 2,796 | 1,133 | 912 | 1,375 | | | Selling/General/Admin Expense | (15,223) | (12,598) | (11,560) | (12,255) | (13,813) | | Research & Development | (10,558) | (8,486) | (6,938) | (6,853) | (7,385) | | EBITDA | (19,930) | (18,289) | (17,364) | (18,196) | (19,823) | | Depreciation & Amortization | (356) | (663) | (842) | (855) | (1,241) | | EBIT | (20,286) | (18,952) | (18,206) | (19,051) | (21,064) | | Interest Income | 334 | 164 | 71 | 25 | 75 | | Other Income, Net | - | 3 | 573 | 4,829 | 1,394 | | Total Income Avail For Interest Expense | (19,952) | (18,785) | (17,562) | (14,498) | (19,595) | | Interest Expense | - | - | - | - | - | | Pre-Tax Income | (19,952) | (18,785) | (17,562) | (14,498) | (19,595) | | Income Taxes | - | - | - | - | - | | Minority Interest | - | - | - | - | - | | Net Income from Continuing Operations | (19,952) | (18,785) | (17,562) | (14,498) | (19,595) | | Net Income from Discontinued Operations | - | - | - | - | - | | Net Income from Total Operations | (19,952) | (18,785) | (17,562) | (14,498) | (19,595) | | | Normalized Income | (19,952) | (18,785) | (17,562) | (14,197) | (19,595) | | Extraordinary Income | - | - | - | - | - | | Special Income/Charges | - | - | - | (301) | - | | Income from Cum. Effect of Acct Change | - | - | - | - | - | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | (19,952) | (18,785) | (17,562) | (14,498) | (19,595) | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Dividends Paid Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Preferred Dividends | - | - | - | - | 5,698 | | | Basic EPS from Continuing Operations | -0.43 | -0.51 | -0.63 | -0.63 | -1.35 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Total Operations | -0.43 | -0.51 | -0.63 | -0.63 | -1.35 | | | Diluted EPS from Continuing Operations | -0.43 | -0.51 | -0.63 | -0.63 | -1.35 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Total Operations | -0.43 | -0.51 | -0.63 | -0.63 | -1.35 | | | |
