THE COLD HARD NUMBERS:
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From qtr ended Sept 27, 1997:
Net sales: $122,828
Gross margins: 26.7%
Gross profit: $32,819
R&D: $14,820
SGA: $2,088
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From the announcement, we know the best case scenario is a reduction of revenues by 30%. ("more than 30%" = ?)
Net sales for upcoming qtr < $85,980
Gross margins: 26% to 29%? [increase in MR volume = decrease yields?]
Gross profit: $22,355 to $24,934
Assume no increase in R&D or SGA [probably conservative since they are in transition and you would think R&D would be increased].
Net profit: $5,447 to $8,026
# shares, primary: 24,872
# shares, diluted: 31,100
BEST CASE SCENARIO BEFORE ONE-TIME CHARGES:
projected eps, primary: $0.22 to $0.32
projected eps, diluted: $0.17 to $0.26
With one-time charges figured in ($12.2 million), APM will lose between $6.75 to $4.17 million dollars this quarter. For the qtr ending Mar 98, the BEST CASE scenario is a rebound of up to 20% in revenue from these estimates.
I'll do some more number crunching tonight.
-Bill |
