ASYST TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited; in thousands, except per share data)
Three Months Ended Nine Months Ended
December 31, December 31,
2001 2000 2001 2000
Net sales $ 37,329 $ 127,980 $ 155,603 $ 376,463
Cost of sales 42,590 69,985 130,876 204,293
---------- ---------- ---------- ----------
Gross profit (5,261) 57,995 24,727 172,170
---------- ---------- ---------- ----------
Operating expenses:
Research and
development 9,469 12,042 31,103 32,614
Selling, general
and
administrative 19,017 24,237 63,473 68,672
Amortization of
acquired
intangible
assets 4,601 1,336 12,925 4,404
Reduction of
goodwill and
other long-
lived assets 60,354 -- 60,354 --
Non-recurring
charges 5,920 -- 26,121 --
In-process
research and
development
costs of
acquired
business -- -- 2,000 --
---------- ---------- ---------- ----------
Total
operating
expenses 99,361 37,615 195,976 105,690
---------- ---------- ---------- ----------
Operating income
(loss) (104,622) 20,380 (171,249) 66,480
Other income
(expense), net (874) 469 (1,626) 3,428
---------- ---------- ---------- ----------
Income (loss)
before provision
(benefit) for
income taxes (105,496) 20,849 (172,875) 69,908
Provision
(benefit) for
income taxes (15,648) 7,046 (37,132) 24,135
---------- ---------- ---------- ----------
Income (loss)
before cumulative
effect of change
in accounting
principle (89,848) 13,803 (135,743) 45,773
Cumulative effect
of change in
accounting
principle -- -- -- (2,506)
---------- ---------- ---------- ----------
Net income
(loss) $ (89,848) $ 13,803 $(135,743) $ 43,267
========== ========== ========== ==========
Basic earnings
(loss) per share:
Income (loss)
before
cumulative
effect of
change in
accounting
principle $ (2.54) $ 0.43 $ (3.85) $ 1.42
Cumulative
effect of
change in
accounting
principle -- -- -- (0.08)
---------- ---------- ---------- ----------
Basic net income
(loss) per share $ (2.54) $ 0.43 $ (3.85) $ 1.34
========== ========== ========== ==========
Diluted earnings
(loss) per share:
Income (loss)
before
cumulative
effect of
change in
accounting
principle $ (2.54) $ 0.41 $ (3.85) $ 1.32
Cumulative
effect of
change in
accounting
principle -- -- -- (0.07)
---------- ---------- ---------- ----------
Diluted net
income (loss)
per share $ (2.54) $ 0.41 $ (3.85) $ 1.25
========== ========== ========== ==========
Shares used in
the per share
calculation:
Basic 35,419 32,416 35,237 32,295
========== ========== ========== ==========
Diluted 35,419 33,937 35,237 34,718
========== ========== ========== ==========
ASYST TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
December 31, March 31,
2001 2001
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 97,980 $ 34,749
Restricted cash equivalents and
short-term investments -- 52,500
Short-term investments 7,636 3,000
Accounts receivable, net 34,603 77,660
Inventories 50,419 76,972
Deferred tax asset 57,934 20,068
Prepaid expenses and other
current assets 9,259 16,017
----------- -----------
Total current assets 257,831 280,966
----------- -----------
Property and equipment, net 40,543 40,160
Intangible assets and
other assets, net 66,776 87,306
----------- -----------
$ 365,150 $ 408,432
=========== ===========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term loans $ 20,144 $ 28,776
Current portion of long-term debt
and finance leases 2,164 1,791
Accounts payable 13,488 29,560
Accrued liabilities and other 57,071 36,495
Deferred revenue 5,136 5,190
----------- -----------
Total current liabilities 98,003 101,812
----------- -----------
Long-term liabilities:
Long-term debt and finance leases,
net of current portion 90,615 3,683
Other long-term liabilities 330 474
----------- -----------
Total long-term liabilities 90,945 4,157
----------- -----------
Shareholders' equity:
Common Stock 292,407 282,925
Retained earnings (deficit) (116,205) 19,538
----------- -----------
Total shareholders' equity 176,202 302,463
----------- -----------
$ 365,150 $ 408,432
=========== ===========
ASYST TECHNOLOGIES, INC.
PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited; in thousands, except per share data)
Three Months Ended Pro Forma Pro Forma
December 31, Adjustments Results
2001
Net sales $ 37,329 $ 37,329
Cost of sales 42,590 (12,810) 29,780
---------- ----------
Gross profit (5,261) 7,549
---------- ----------
Operating expenses:
Research and
development 9,469 9,469
Selling, general
and administrative 19,017 19,017
Amortization of
acquired intangible
assets 4,601 (4,601) --
Reduction of goodwill
and other long-lived
assets 60,354 (60,354) --
Non-recurring charges 5,920 (5,920) --
In-process research
and development
costs of acquired
business -- --
---------- ----------
Total operating
expenses 99,361 28,486
---------- ----------
Operating income
(loss) (104,622) (20,937)
Other income
(expense), net (874) (874)
---------- ----------
Income (loss) before
provision (benefit)
for income taxes (105,496) (21,811)
Provision (benefit)
for income taxes (15,648) 7,699 (7,949)
---------- ----------
Income (loss) before
cumulative effect
of change in
accounting
principle $ (89,848) $ (13,862)
Cumulative effect
of change in
accounting
principle -- --
---------- ----------
Net income (loss) $ (89,848) $ (13,862)
========== ==========
Basic earnings
(loss) per share:
Income (loss)
before cumulative
effect of change
in accounting
principle $ (2.54) $ (0.39)
Cumulative effect
of change in
accounting
principle -- --
---------- ----------
Basic net income
(loss) per share $ (2.54) $ (0.39)
========== ==========
Diluted earnings
(loss) per share:
Income (loss)
before cumulative
effect of change
in accounting
principle $ (2.54) $ (0.39)
Cumulative effect
of change in
accounting
principle -- --
---------- ----------
Diluted net income
(loss) per share $ (2.54) $ (0.39)
========== ==========
Shares used in
the per share
calculation:
Basic 35,419 35,419
========== ==========
Diluted 35,419 35,419
========== ==========
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