The numbers:
First Call Q2 mean estimate was $0.57 per share. CUPERTINO, Calif., April 14 (Reuters) - CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share and per share amounts) THREE MONTHS ENDED SIX MONTHS ENDED Mar 27, Mar 27, Mar 27, Mar 27, 1999 1998 1999 1998 Net sales $1,530 $1,405 $3,240 $2,983 Cost of sales 1,127 1,056 2,355 2,281 Gross margin 403 349 885 702 Operating expenses: Research and development 76 75 152 154 Selling, general, and administrative 239 223 518 457 Restructuring costs 9 -- 9 -- Total operating expenses 324 298 679 611 Operating income 79 51 206 91 Gain from sale of investment 55 -- 87 -- Interest and other income (expense), net 19 8 29 15 Total interest and other income (expense), net 74 8 116 15 Income before provision for income taxes 153 59 322 106 Provision for income taxes 18 4 35 4 Net income 135 55 287 102 Earnings per common share: Basic 0.99 0.42 2.11 0.78 Diluted 0.84 0.38 1.79 0.71 Shares used in computing earnings per share (in thousands): Basic 136,371 131,969 135,820 130,021 Diluted 173,204 145,915 172,619 142,769 NOTE: The current quarter's results included a $42 million net gain after certain adjustment. Without these non-recurring items, the Company's net profit for the quarter would have been $93 million, or $.60 per diluted share.
|