MXTR Impressive Financials:
MAXTOR CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands except share and per share amounts)
(Unaudited)
Three months ended Six months ended
July 3, June 27, July 3, June 27,
1999 1998 1999 1998
Total Revenue $524,588 $531,265 $1,206,178 $1,080,882
Total Cost of revenue 508,251 468,789 1,103,428 956,151
Gross profit 16,337 62,476 102,750 124,731
Operating expenses:
Research and
development 48,585 36,724 95,425 70,096
Selling, general and
administrative 22,199 18,392 42,119 34,315
Stock compensation
expenses 632 (4,788) 1,497 9,908
Total operating
expenses 71,416 50,328 139,041 114,319
Income (loss) from
operations (55,079) 12,148 (36,291) 10,412
Interest expense (2,941) (8,768) (6,621) (17,536)
Interest and
other income 3,558 2,125 8,455 2,399
Gain on sale
of investment 22,090 -- 22,090 --
Income (loss) before
provision for
income taxes (32,372) 5,505 (12,367) (4,725)
Provision for
income taxes (1,500) 89 1,500 178
Net Income (loss) $(30,872) $5,416 $(13,867) $(4,903)
Net income (loss)
per share - basic $(0.30) $ 164.02 $(0.14) $(202.72)
Net income (loss)
per share - diluted $(0.30) $0.12 $(0.14) $(202.72)
Shares used in per share
calculation
-basic 103,046,181 33,020 100,979,476 24,186
-diluted 103,046,181 44,801,870 100,979,476 24,186
MAXTOR CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
July 3, December 26,
1999 1998
(Unaudited)
ASSETS
Current assets:
Cash and marketable securities $298,550 $227,629
Accounts receivable, net 211,281 317,758
Inventories 177,863 153,192
Prepaid expenses and other 38,546 45,198
Total current assets 726,240 743,777
Net property, plant and equipment 150,359 108,290
Other assets 8,062 11,346
Total assets $884,661 $863,413
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Short-term borrowings,
including current portion
of long-term debt $5,004 $5,261
Accounts payable 445,028 427,737
Accrued and other liabilities 98,757 115,937
Total current liabilities 548,789 548,935
Long-term debt 85,023 145,046
Total Liabilities 633,812 693,981
Total Stockholders' Equity 250,849 169,432
Total Liabilities and
Stockholders' Equity $884,661 $863,413
SOURCE: Maxtor Corp.
|
