To All; Here they are. Not bad, but are they good enough? Wish I knew what time they came out
Supertex Reports First Fiscal Quarter Results
SUNNYVALE, Calif.--(BUSINESS WIRE)--July 14, 1997--Supertex, Inc. (NASDAQ:SUPX) reported today net income for the first fiscal quarter ended June 30, 1997 of $1,976,000, or $0.16 per share, on net sales of $12,313,000. In the last year's fiscal first quarter, the Company's net income was $2,458,000 or $0.20 per share on net sales of $12,461,000.
"During the quarter, we focused our effort addressing the delivery delinquencies which are now mostly caught up. The effort paid off even though it caused some inefficiencies," said Dr. Henry C. Pao, President and CEO, "We are very encouraged by the strength in our bookings."
Supertex, Inc. is a publicly held, specialty semiconductor manufacturer, focused in high voltage interface products for use in the telecommunications, flat panel displays, and medical electronics markets.
SUPERTEX, INC.
INCOME STATEMENT INFORMATION (unaudited)
First Quarter Ended June 30,
1997 1996
(in thousands, except per share amounts)
Net Sales $ 12,313 $ 12,461
Cost of Sales 6,680 6,310
Gross Profit 5,633 6,151
Research and development 1,376 1,310
Selling, general and
administrative 1,634 1,594
Income from operations 2,623 3,247
Interest and other income 371 367
Income before income taxes 2,994 3,614
Provision for income taxes 1,018 1,156
Net income $ 1,976 $ 2,458
Net income per share $ 0.16 $ 0.20
Shares used in per share
computation 12,379 12,495
SUPERTEX, INC.
CONSOLIDATED BALANCE SHEET INFORMATION (unaudited)
June 30, 1997 March 31, 1997
(in thousands)
ASSETS
Cash, cash equivalents and
short-term investments $ 25,190 $ 23,663
Trade receivables 9,920 9,337
Inventories 9,459 9,249
Deferred income taxes 1,834 1,834
Other current assets 638 572
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Total current assets 47,041 44,655
Property and equipment 12,252 11,753
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TOTAL ASSETS $ 59,293 $ 56,408
LIABILITIES
Trade accounts payable
and accrued liabilities $ 6,468 $ 6,678
Income taxes payable 1,094 166
Deferred income on
shipments to distributors 1,249 1,077
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Total current liabilities 8,811 7,921
SHAREHOLDERS' EQUITY
Common stock $ 20,321 $ 20,302
Retained earnings 30,161 28,185
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Total Shareholders' equity 50,482 48,487
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY $ 59,293 $ 56,408
CONTACT: Supertex, Inc.
Dr. Henry C. Pao, 408/744-0100 President & CEO
investors@supertex.com |
