CABLETRON SYSTEMS, INC.CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(unaudited)
Three Months Ended
May 31, 1999 1998
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Net sales .................................... $ 349,533 $ 365,747
Cost of sales ................................ 212,615 216,112
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Gross profit ............................ 136,918 149,635
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Operating expenses:
Research and development ................ 50,797 54,209
Selling, general and administrative ..... 102,362 106,786
Special charges ......................... 23,736 150,000
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Total operating expenses ............ 176,895 310,995
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Loss from operations ................ (39,977) (161,360)
Interest income .............................. 4,068 3,839
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Loss before income tax benefit....... (35,909) (157,521)
Income tax benefit ........................... 13,384 2,952
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Net loss ..................................... ($ 22,525) ($154,569)
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Net loss per share:
Basic ................................... ($ 0.13) ($ 0.95)
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Diluted ................................. ($ 0.13) ($ 0.95)
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Weighted average number of shares outstanding:
Basic ................................... 173,090 163,394
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Diluted ................................. 173,090 163,394
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Net loss per share has been reduced by a huge amount, year over year.
These are steps in the right direction.
S&P |
