RF MICRO DEVICES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Three Months Ended Twelve Months Ended
March 31, March 31,
2002 2001 2002 2001
(Unaudited) (Unaudited) (Unaudited) (Audited)
Total revenue $100,434 $55,020 $369,308 $335,364
Costs and expenses:
Cost of goods sold 59,504 41,435 248,965 181,801
Research and development 22,398 15,407 74,445 60,340
Marketing and selling 8,165 6,994 28,993 28,450
General and administrative 3,593 3,188 14,224 13,495
Other operating expense 517 3,356 14,085 4,607
Impairment of long-lived
assets - - 6,801 -
Total costs and expenses 94,177 70,380 387,513 288,693
Operating income (loss) 6,257 (15,360) (18,205) 46,671
Other (expense) income, net (6,028) 1,610 (9,208) 5,738
Income (loss) before income
taxes $229 ($13,750) ($ 27,413) $52,409
Income tax expense (benefit) (2,540) (6,906) (6,829) 17,435
Net income (loss) $2,769 ($6,844) ($ 20,584) $34,974
Net income (loss) per share:
Basic $0.02 ($0.04) ($0.12) $0.22
Diluted $0.02 ($0.04) ($0.12) $0.20
Weighted average shares
outstanding used in per share
calculation:
Basic 167,420 163,302 165,827 161,820
Diluted 174,976 163,302 165,827 173,216
RF MICRO DEVICES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
March 31, March 31,
2002 2001
(Unaudited) (Audited)
ASSETS
Current assets:
Cash and cash equivalents $157,648 $266,076
Short-term investments 186,526 75,162
Accounts receivable, net 56,373 38,610
Inventories 38,734 71,015
Other current assets 16,689 41,451
Total current assets 455,970 492,314
Property and equipment, net 221,679 208,571
Technology licenses, net 9,476 13,424
Goodwill 34,525 -
Other assets 7,350 6,622
Total assets $729,000 $720,931
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued liabilities $31,599 $24,023
Current obligations under capital leases 3,319 4,976
Total current liabilities 34,918 28,999
Long-term debt, net 294,248 292,700
Non-current deferred tax liability - 19,471
Obligations under capital leases,
less current maturities 169 3,263
Other long-term liabilities 9,980 -
Total liabilities 339,315 344,433
Shareholders' equity:
Total shareholders' equity 389,685 376,498
Total liabilities and shareholders'
equity $729,000 $720,931
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SOURCE RF Micro Devices, Inc.
CONTACT: Dean Priddy, Chief Financial Officer, +1-336-931-7152, or Dou
DeLieto, Dir., Investor Relations, +1-336-931-7968, both of R
Micro Devices;
or general info., Rob Hyman, or investor info., Nicole Engel,
of the Financial
Relations Board, +1-212-445-8000
URL: rfmd.com
prnewswire.com
Copyright (C) 2002 PR Newswire. All rights reserved.
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KEYWORD: North Carolina
INDUSTRY KEYWORD: CPR
TLS
SUBJECT CODE: ERN
CCA
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