Income Statement and Balance Sheet from Company Press Release:
SPEEDFAM INTERNATIONAL, INC. AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(dollars and shares in thousands, except per share data)
Three Months Ended
August 31, August 31,
1998 1997
Revenue:
Net sales $35,771 $51,915
Commissions from affiliate 585 1,932
Total revenue 36,356 53,847
Cost of sales 23,427 30,831
Gross margin 12,929 23,016
Research, development and
engineering 9,140 6,785
Selling, general and
administrative 7,269 9,369
Operating profit (loss) (3,480) 6,862
Other income, net 1,812 759
Earnings (loss) from consolidated
companies before income taxes (1,668) 7,621
Income tax expense (benefit) (1,096) 2,793
Earnings (loss) from consolidated
companies (572) 4,828
Equity in net earnings of
affiliates 728 729
Net earnings $156 $5,557
Net earnings per share:
Basic $0.01 $0.41
Diluted $0.01 $0.39
Weighted average number of shares:
Basic 16,047 13,399
Diluted 16,394 14,242
SPEEDFAM INTERNATIONAL, INC. AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
August 31, May 31,
1998 1998
ASSETS
Current assets:
Cash and cash equivalents $114,822 $90,384
Short-term investments 16,151 50,835
Trade accounts and notes
receivable, net 43,933 45,197
Inventories 50,552 55,532
Other current assets 9,698 8,195
Total current assets 235,156 250,143
Investments in affiliates 22,818 24,299
Property, plant and equipment, net 54,967 52,253
Other assets 3,355 3,070
Total assets $316,296 $329,765
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Short-term borrowings and
current portion of long-term debt $176 $248
Accounts payable and due to
affiliates 14,197 23,901
Customer deposits 2,347 1,812
Other current liabilities 10,095 13,932
Total current liabilities 26,815 39,893
Long-term debt -- --
Deferred income taxes 1,020 1,020
Total liabilities 27,835 40,913
Stockholders' equity 288,461 288,852
Total liabilities and
stockholders' equity $316,296 $329,765
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