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i�7C y'{.. - - - . <br />k �' <br />� 1 <br />i <br />:i <br />'�' � <br />�, . . <br />;: (1) Receivables: <br />,� `_ Sales and earni <br />ment contracts and s <br />for on the basis oP <br />At June 30, 1960� cos <br />GONTROL DATA CORPORATION AND SUBSIDIARY <br />Notes to Financiai Statements <br />June 30, 1960 <br />ngs on long-term Govern- <br />ub-contracts are accounted <br />percentage of completion. <br />ta and estimated earninga <br />on euch contr�►ete and sub-contructs aggregated <br />$fl�169,fl83 a��tinst which progress pnyments <br />of �8,fl9$,4d1 had been received, leaving <br />$2,166,64Z unreimbursed. <br />(2) Inventories: <br />Rt►w matc�rials and purchased pt�rts Are <br />vulucd t�t tho lower of averAge cost or repince- <br />men� rn;arke� Wnrk in proceas ia vAlued nt <br />avernge cost� r�ot in excesa of realiznblo vttlues, <br />baa�d on engincers' estimakes of coat to com- <br />plate. <br />t3) 8�ork opt�ans: <br />At Juno 34, 1�6U,1�D,220 shnres of tho cam- <br />pany'a �u4�horized �nd uniseued cammon atock <br />wero rnaQrved �or iasugncu undar thQ Employec <br />8tock 4ption Plnn. 0p�iona to purchas� l�is??0 <br />�harna warn o�t�ta�nding at JunA $0, 10Ga aet <br />Ga�o opttan pric�s ranging irnm $l.QQ ta <br />�34.�25 per shar� (iair v�sluo a�t e�tea of <br />;ranta. C!ptian� an 28�4Q0 0# il�esar �h�rax warc� <br />ex�3ra�aa�bla at Jun� 30. 1fi�0 �nd optfong an <br />S7",�� eha�r� �ri�i brcom� exorci�bt� ia tho <br />��ur �ndin,� Junc� SD, ifl�01. Qne-fourth af cAci� <br />e tion bec�mes exor�i�bla ar�e yQar �ftar dnte <br />a� iaauo �nd on�•%ua�t� in c�ch of ih� thrce <br />���ca�di�� ears. For a11 opttann grant�d ririor <br />to �i�rch �l� t�i►. tha �x�re��ablo prirn i� <br />i0b�r �af b�� aption y�rlcr durin Ith� so�.wnc� <br />yanr �ita� �r�nt �nd incr��E� by �'Yr Q�rh y��r <br />ih�z°s�i1�r to 1�6'�`r ln t�wu trn�,h �nd f#n�� �n�r <br />+�� th� �p�la��, 4ptlan.� ,grrsni�d �ab� �a�! ta <br />�►t�rch �i. 1�60 �rc ox��i�ab1� at the tu�� <br />Y prf�e. �uring tho y��r �ndad �uno 30� lUt�O �p= <br />� " �io� ��r+� �x�nrel�3 f��° 1�,a3Q ah�r�� �c a�n <br />�n <br />- ���ra� p�rtc� ol #i.d4 p�r aha�ro. <br />��� tvanttn,��tt� if��Sl21ti��: <br />$ub�U�nti�lp� e��i��us o! �►1a� �or tha yaar <br />a <br />+�ndcti �fittn� 3Q, iQb� a�d ���0 ar� sc���act t� <br />� , $t�ttttor �r���ati�t��c�� cert�l� rr�.�t�at� �re <br />� ` aub�}�rt �o prica rad�tormtnatlan �nd �t.s nn <br />�oa�pl��-P4x�•!� r�r��c� ar� au6jE+ct ta <br />���t�, trx i�i� ��Inian of 4�Ih� �'o�n��nyP �rl`undu <br />tR'�..�' �.. � . <br />� <br />und unallowable costs, if nny, which may be <br />determined will not h�ve a material effect on <br />the consolidated financial position as of June <br />30� 198U. <br />Tha Company is u defendunt in a pending <br />suit whereunder plaintiff ulleges thut the <br />aompuny has rnppropriated certuin of plaintiff's <br />trade secrets and requests that it be enj�ined <br />from using :such claimed aerrets. The Com- <br />pany's nns�vcr Slcd in the nc�ion denie� the ap- <br />prapriation of uny trade �ecrets by itaelf or <br />nny of it� employees. <br />The �ompany is ulA� n defendont in a aer- <br />i�s of auita far dum�ges umountinq to s�pproxi- <br />matcly $134,000 instituted by a� formcr ofticor <br />and dir�ector of the Company. Tho Compsny <br />hn� Interpc�aed a counter clnfm oP �pproxi- <br />mntely $250�000. At Juno 30, 1�G0, $2li8 Ua$ Qf <br />the Compnny's cnsh wna aubject t� the �ien of <br />n qarninhment �ummonB in conne�tion w(th <br />thr�� gait$. <br />(5) Substdi�ry : <br />Cuntro! Curp orntian wax acquired aa a <br />sub�idiary April 1, 1960 in exchari�c tar <br />ti8,l�fl ahares of rommon �,tock at Con�rol DatA <br />Corporation. The tranaactian ';�s bcen gc- <br />rauntcci tor nx g �ooling of iakea��t�. ��taincr� <br />earntn� �nd �dditipn�l peid-in c�pikat flf Cmn- <br />�r�rl �nrp�ra;tian sY clnt� of �,�e uisitlan arr in- <br />rlud�d in co�aaolidatad ret�in� emrnin�� �nci <br />addttian�l pni�l-in c�pltal� rn�p�ctiva�y. Tha <br />ctxra�� of thc� �ar v�►lum ut thr r�►r�itt�l stork oE <br />thr aub�iciin�yr g��rr p�r «lue o� eh� ntark of <br />Gantr�al i��f.a Cur�aracia� i��u�d thorrE�r i� <br />ineivd�ci in eonaaEid�tcc! addition�t p�id-1� <br />eapits�i. �,n�rafn� c�i th� �ub�idi�ry �inr� ss- <br />qufaltf�n �r� i��clud�! in th� rnnsolidat�eE etst�- <br />m�rsi af cs��ng�: ��rnlro�qa at �1,41� fQr iba <br />�srrl�d trant Ju6y 1, IQS� t� 1�l�r^�� g1. i�QO <br />serr e�at Ro inclucic�i. <br />iQ) Inea�n� t�xea: <br />T�a��� for th� ��r endud Juna �0� lflb� <br />�r�rr� r�xiuer�t �,�,� �0.0� �� A r���lt nf an <br />��r�tfa�� l��� ��rriec! �orunrd #rorn ��5�. <br />�arrein� par ���ro for 1�5fl be�fAra the ulP�ct <br />�f thi� �on•rc+�urrin,� tAx r�ciu�tian �f�r� $p.�� <br />��r nh�,e, <br />Y ."_ �. ._ . . . . P�1 � !Y 7! � � � d1 � '� M , #1 !M � 'lB � R <br />- � � � � � pY�/i���� <br />� ,� . � ' ., � Mili6 ��i <br />,:` "�'et h��r�r +�x�ml�c�i �h� r�n�alid�t�d bat�nr�+ �he�t ot Go�tcol D�t� Corp orataQn ��d <br />k► <br />- s�b�tdl�r �� of Jt�no 30e �Af�fl �ttc� th� t���t�d �lsAtBt�t�tt�e of t�t►rnin�►, �dditian�t p�id- <br />�`� �� s�pt1����r�d r�t�tnod �arnlnas tor tti� ��r thcn �r�d�+d. Our c�minntian wa� rni�de in <br />�cro�d��cQ �rit� �c�er�lly �eccp���d audtti�n� �t�r�d�rd�� m�d accardi��ly included euch <br />���_ . t�r�ta af t�e ��ounLin� a�cs�t�ia An� ��rh oti�Qc� �u�itln� prorcdur�� �e �v� aan�iderc� <br />ntt����y t� 1�h� �elrcuma#�a�eoa. <br />�� ; in our $p#al�n, �uch finnnclal at�trm��et� rmse�t f�irly the raa��iidatad flnanci�l <br />< < � poai�ion � �Caatr�Z D�t� Carpar��t�n �nd �uba�di�r� �t Jun� �Q� 1�6U �rid �hQ r�ault� 9t <br />� thelr aiQerallanx fnr thd vear t.��n oy��te�, in eanforrntEy tuit}� �pr���$�1y �tc�ertQ€i �ret►t�r��- <br />: #n;� ��reetpl�a �ppited oa a i�a�fs �an�t�tent �ith t�i�t af th� pr�e�rdtn$ y�Qar. <br />#,� : A�AT� A�A���rccx. 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