L-3 COMMUNICATIONS TITAN CORP - Quarterly Report (10-Q) STOCKHOLDERS EQUITY

The following is an excerpt from a 10-Q SEC Filing, filed by TITAN CORP on 5/6/2005.

L-3 COMMUNICATIONS TITAN CORP - 10-Q - 20050506 - STOCKHOLDERS_EQUITY

THE TITAN CORPORATION

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

(Unaudited)

(in thousands of dollars, except per share data)

		Cumulative Convertible Preferred Stock			Common Stock		Capital In Excess of Par Value			Deferred Compensation			Accumulated Deficit			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Total
Three Months Ended March 31, 2005
Balances at December 31, 2004		$	—		$	848	$	684,934		$	(53	)	$	(336,618	)	$	—		$	(1,031	)	$	348,080
	Exercise of stock options and other		—			2		1,730			—			—			—			—			1,732
	Amortization of deferred compensation		—			—		—			18			—			—			—			18
Shares issued under the employee stock purchase plan			—			3		3,096			—			—			—			—			3,099
	Net income		—			—		—			—			19,012			—			—			19,012

Balances at March 31, 2005		$	—		$	853	$	689,760		$	(35	)	$	(317,606	)	$	—		$	(1,031	)	$	371,941

Three Months Ended March 31, 2004
Balances at December 31, 2003		$	687		$	822	$	670,733		$	(1,584	)	$	(298,221	)	$	(215	)	$	(813	)	$	371,409
	Exercise of stock options and other		—			11		5,749			—			—			—			(128	)		5,632
	Redemption of preferred stock (Note 3)		(626	)		—		(11,892	)		—			—			—			—			(12,518	)
	Conversion of preferred stock		(61	)		—		61			—			—			—			—			—
	Amortization of deferred compensation		—			—		—			517			—			—			—			517
	Foreign currency translation adjustment		—			—		—			—			—			(131	)		—			(131	)
	Shares issued under the employee stock purchase plan		—			3		2,715			—			—			—			—			2,718
	Dividends on preferred stock—Cumulative convertible, $.28 per share		—			—		(190	)		—			—			—			—			(190	)
	Net income		—			—		—			—			3,059			—			—			3,059

Balances at March 31, 2004		$	—		$	836	$	667,176		$	(1,067	)	$	(295,162	)	$	(346	)	$	(941	)	$	370,496