Total revenues for the third quarter of 2000 were $42,600,000, an increase of 124% over the revenues of $19,044,000
reported for the third quarter of 1999. For the nine months of 2000, revenues were $104,031,000, an increase of 106% over
the $50,436,000 for the same period in 1999. In addition, the Company reported pro forma operating income of $17,060,000
for the third quarter 2000, an increase of 267% over the $4,644,000 operating income reported in the third quarter of 1999.
For the nine months of 2000, pro forma operating income was $38,308,000, an increase of 246% over the $11,057,000
operating income for the same period in 1999.
In the third quarter of 2000, TranSwitch's pro forma effective tax rate was 36%, resulting in pro forma net income of
$12,088,000 or $0.14 per diluted share. Net income for the third quarter of 1999 was $9,957,000, or $0.12 per diluted
share, which included a tax benefit of approximately $4,500,000 related to the reversal of the Company's deferred tax
valuation allowance. The pro forma net income for the nine months of 2000, taxed at the pro forma effective tax rate of 36%,
was $27,677,000, or $0.32 per diluted share, compared with net income of $17,759,000, or $0.22 per share for the nine
months of 1999, which included the aforementioned $4,500,000 tax benefit. |
