OAKT earnings Part II............
OAK TECHNOLOGY, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
(Unaudited)
Three months ended
September 30,
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1997 1996
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Net revenues $ 43,293 $ 18,926
Cost of revenues 20,755 10,216
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Gross profit 22,538 8,710
Research and development expenses 10,831 8,094
Selling, general, and administrative expenses 6,311 4,293
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Operating income (loss) 5,396 (3,677)
Nonoperating income 4,131 1,134
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Income (loss) before income taxes 9,527 (2,543)
Income taxes 3,334 (890)
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Net income (loss) $ 6,193 $ (1,653)
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Net income (loss) per share $ 0.15 $ (0.04)
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Shares used in computing net income (loss)
per share 42,569 40,297
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OAK TECHNOLOGY, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
September 30, June 30,
1997 1997
(unaudited)
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ASSETS
Current assets:
Cash and investments $146,789 $145,269
Accounts receivable, net 27,002 24,872
Inventories 10,520 12,322
Prepaid expenses and other current assets 24,199 23,472
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Total current assets 208,510 205,935
Property and equipment, net 22,597 19,958
Foundry deposits 18,745 19,145
Other assets 42,574 42,557
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Total assets $292,426 $287,595
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Notes payable and current
portion of long-term debt $ 6,619 $ 7,264
Accounts payable 14,569 16,144
Other accrued liabilities 15,774 14,359
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Total current liabilities 36,962 37,767
Long-term liabilities 8,816 11,131
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Total liabilities 45,778 48,898
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Stockholders' equity:
Common Stock 161,700 159,942
Retained earnings 84,948 78,755
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Total stockholders' equity 246,648 238,697
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Total liabilities and stockholders' equity $292,426 $287,595
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CONTACT: Oak Technology, Inc., Sunnyvale
Supriya Venkat, 408/328-6899
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