TABLE - Iomega (NYSE:IOM) Q3 shr $0.22 vs $0.09
Reuters, Thursday, October 16, 1997 at 16:34
ROY, Utah, Oct. 16 (Reuter) -
IOMEGA CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share data)
For the Three Months Ended
Sep 28, Sep 29,
1997 1996
SALES $431,700 $310,085
COST OF SALES 291,373 228,424
Gross margin 140,327 81,661
OPERATING EXPENSES:
Selling, general and
administrative 72,631 50,323
Research and development 22,571 10,475
Total operating expenses 95,202 60,798
OPERATING INCOME 45,125 20,863
Interest and other income and
expense, net 1,055 71
INCOME BEFORE INCOME TAXES 46,180 20,934
PROVISION FOR INCOME TAXES (16,172) (8,168)
NET INCOME 30,008 12,766
NET INCOME PER COMMON SHARE 0.22 0.09
WEIGHTED AVERAGE SHARES
OUTSTANDING 137,035 137,027
IOMEGA CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share data)
For the Nine Months Ended
Sep 28, Sep 29,
1997 1996
SALES $1,193,206 $815,711
COST OF SALES 828,141 597,955
Gross margin 365,065 217,756
OPERATING EXPENSES:
Selling, general and
administrative 187,807 122,605
Research and development 54,295 29,008
Total operating expenses 242,102 151,613
OPERATING INCOME 122,963 66,143
Interest and other income and
expense, net (1,219) (5,329)
INCOME BEFORE INCOME TAXES 121,744 60,814
PROVISION FOR INCOME TAXES (42,513) (23,845)
NET INCOME 79,231 36,969
NET INCOME PER COMMON SHARE 0.58 0.28
WEIGHTED AVERAGE SHARES
OUTSTANDING 136,379 132,089
IOMEGA CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands)
Sep 28, Jun 29,
1997 1997
ASSETS:
Cash and temporary investments $166,024 $135,402
Trade receivables 264,184 244,110
Inventories 188,424 150,542
Other current assets 51,220 46,860
Total current assets 669,852 576,914
Fixed assets (net) 155,063 139,947
Other assets 3,259 3,448
Total Assets 828,174 720,309
LIABILITIES AND STOCKHOLDERS' EQUITY:
Notes payable 0 398
Current lease obligations 5,465 5,438
Accounts payable 206,257 154,355
Other current liabilities 149,050 123,193
Total current liabilities 360,772 283,384
Long-term liabilities 4,437 6,060
Convertible notes 45,683 45,684
Stockholders' equity 417,282 385,181
Total Liabilities and
Stockholders' Equity 828,174 720,309
Copyright 1997, Reuters News Service |
