Lancer Orthodontics, Inc. (LANZ)

Lancer Orthodontics Balance Sheet

Financials in millions USD. Fiscal year is June - May.

Fiscal Year	TTM	FY 2004	FY 2003	FY 2002	FY 2001	FY 2000
Period Ending	Aug 31, 2004	May 31, 2004	May 31, 2003	May 31, 2002	May 31, 2001	May 31, 2000
Cash & Equivalents	0.13	0.3	0.51	0.13	0.13	0.1
Cash & Short-Term Investments	0.13	0.3	0.51	0.13	0.13	0.1
Cash Growth	-55.90%	-40.53%	297.72%	-2.25%	27.46%	-2.90%
Accounts Receivable	1.28	1.18	1.1	1.12	1.16	1.23
Other Receivables	0.05	0.01	0.03	0.08	-	-
Receivables	1.33	1.19	1.13	1.2	1.16	1.23
Inventory	2.01	1.85	1.75	2.09	2.14	2.01
Prepaid Expenses	0.06	0.12	0.06	0.05	0.04	0.05
Total Current Assets	3.52	3.46	3.45	3.47	3.48	3.4
Property, Plant & Equipment	0.61	0.57	0.22	0.05	0.08	0.12
Other Intangible Assets	0	0.01	0.04	0.09	0.16	0.24
Other Long-Term Assets	0.05	0.05	0.04	0.04	0.02	0.01
Total Assets	4.18	4.09	3.75	3.65	3.74	3.76
Accounts Payable	0.51	0.38	0.4	0.42	0.46	0.35
Accrued Expenses	0.23	0.21	0.23	0.09	0.12	0.17
Short-Term Debt	-	-	0	0.07	0.14	0.16
Other Current Liabilities	0.04	0.05	0.01	0.05	0.06	-
Total Current Liabilities	0.78	0.64	0.64	0.63	0.78	0.68
Total Liabilities	0.78	0.64	0.64	0.63	0.78	0.68
Common Stock	5.16	5.17	4.86	4.83	4.82	4.82
Retained Earnings	-1.78	-1.72	-1.75	-1.82	-1.86	-1.74
Total Common Equity	3.41	3.45	3.12	3.01	2.96	3.07
Shareholders' Equity	3.41	3.45	3.12	3.01	2.96	3.07
Total Liabilities & Equity	4.18	4.09	3.75	3.65	3.74	3.76
Total Debt	-	-	0	0.07	0.14	0.16
Net Cash (Debt)	0.13	0.3	0.51	0.06	-0.01	-0.06
Net Cash Growth	-55.83%	-40.48%	712.16%	-	-	-
Net Cash Per Share	0.05	0.12	0.23	0.03	-0.00	-0.03
Filing Date Shares Outstanding	2.77	2.74	2.2	2.2	2.1	2.1
Total Common Shares Outstanding	2.77	2.74	2.2	2.1	2.1	2.1
Working Capital	2.75	2.82	2.81	2.84	2.7	2.71
Book Value Per Share	1.23	1.26	1.42	1.44	1.41	1.46
Tangible Book Value	3.4	3.44	3.08	2.92	2.8	2.84
Tangible Book Value Per Share	1.23	1.26	1.40	1.39	1.33	1.35
Buildings	-	0.08	0.02	0.02	0.02	0.01
Machinery	-	2.91	2.4	2.39	2.39	2.39
Construction In Progress	-	0.02	0.19	0.01	0.01	0.01
Leasehold Improvements	-	0.08	0.02	0.02	0.02	0.01
Order Backlog	-	0.12	0.04	0.08	0.17	0.15

Source: S&P Global Market Intelligence. Standard template. Financial Sources.