Balance Sheet
PLAINVIEW, NEW YORK, August 14 (Reuter) -
AEROFLEX INCORPORATED
AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
Quarter Ended Year Ended
June 30, June 30,
1997 1996 1997 1996
NET SALES $29,387,000 $30,067,000 $94,299,000 $74,367,000
Operating Income
(Loss) (a)
3,633,000 4,176,000 9,736,000 (15,282,000)
Other Income (Expense)
(689,000) (523,000) (2,881,000) (864,000)
Income (Loss) Before
Income Taxes
2,944,000 3,653,000 6,855,000 (16,146,000)
Provision for Income
Taxes 985,000 594,000 2,435,000 1,274,000
NET INCOME (LOSS)
(a) (b) 1,959,000 3,059,000 4,420,000 (17,420,000)
Income (Loss) Per
Common Share:
Primary .15 .23 .34 (1.46)
Fully Diluted .14 .21 .33 Note c
Weighted Average Shares
Outstanding
Primary 12,686,000 13,566,000 13,057,000 11,971,000
Fully Diluted 15,070,000 15,560,000 15,142,000 Note c
(a) Includes $23,200,000 ($1.94 per share) for the year ended
June 30, 1996, for the write-off of in-process research and
development acquired in the purchase of MIC Technology
Corporation in March 1996. (b) Includes a $437,000 net of tax,
or $.04 per share, gain on the sale of securities for the year
ended June 30, 1996 and $339,000 net of tax, or $.02 primary
and fully diluted, for the quarter ended June 30, 1996. (c) As
a result of the loss, all options, warrants and convertible
debentures are anti-dilutive. |
