CTC check out LU balance sheet and compare Q to Q and Y to Y.
Debt from below $1 bill to over $3.7 bill, inventory, receivable all the same ratio. Much more than sales which grew around 20% Y to Y which is 75% not even a double in 3 years. Also with all this debt relative little cash on hand.
Inventory in high tech price wise has limited shelf life but LIFO / LIFO accounting makes all the difference.
BTW what are "other current assets" that grew by a small $1.6 billion??
Annual Assets
All numbers in thousands
Fiscal Year Ended:
1998
1997
1996
1995
Cash On Hand:
685,000
1,350,000
2,241,000
448,000
Receivables:
6,939,000
5,373,000
4,914,000
5,354,000
Inventories:
3,081,000
2,926,000
3,288,000
3,222,000
Other Current Assets:
3,373,000
2,852,000
2,338,000
1,655,000
Total Current Assets:
14,078,000
12,501,000
12,781,000
10,679,000
Prop., Plants & Equip.:
5,403,000
5,147,000
4,687,000
4,725,000
Net Plants & Equip.:
5,403,000
5,147,000
4,687,000
4,725,000
Deferred Charges:
4,802,000
4,727,000
4,169,000
3,394,000
Deposits and Other:
2,437,000
1,436,000
989,000
924,000
Total Assets:
26,720,000
23,811,000
22,626,000
19,722,000
Annual Liabilities and Net Worth
All numbers in thousands
Fiscal Year Ended:
1998
1997
1996
1995
Accounts Payable:
2,040,000
1,931,000
1,900,000
1,229,000
Current Long-term
Debt:
2,231,000
2,538,000
2,363,000
49,000
Accrued Expenses:
2,698,000
2,417,000
2,712,000
3,026,000
Other Current Liab.:
3,459,000
3,852,000
3,738,000
6,759,000
Total Current Liab.:
10,428,000
10,738,000
10,713,000
11,063,000
Long-term Debt:
2,409,000
1,665,000
1,634,000
123,000
Other Long-term Liab.:
8,349,000
8,021,000
7,593,000
7,102,000
Total Liabilities:
21,186,000
20,424,000
19,940,000
18,288,000
Common Stock Net:
13,000
13,000
6,000
0
Capital Surplus:
4,485,000
3,047,000
2,595,000
0
Retained Earnings:
1,364,000
595,000
207,000
0
Other Equities:
-328,000
-268,000
-122,000
1,434,000
Shareholders' Equity:
5,534,000
3,387,000
2,686,000
1,434,000
Total Liab. and Worth:
26,720,000
23,811,000
22,626,000
19,722,000
Quarterly Assets
All numbers in thousands
Quarter:
Q2 1999
Q1 1999
Q4 1998
Q3 1998
Cash On Hand:
792,000
940,000
685,000
1,099,000
Receivables:
8,752,000
9,185,000
6,939,000
5,792,000
Inventories:
5,438,000
3,778,000
3,081,000
2,973,000
Other Current Assets:
2,792,000
3,448,000
3,373,000
1,887,000
Total Current Assets:
17,774,000
17,351,000
14,078,000
11,751,000
Prop., Plants & Equip.:
5,751,000
5,645,000
5,403,000
6,800,000
Accum. Depreciation:
0
0
0
0
Net Plants & Equip.:
5,751,000
5,645,000
5,403,000
6,800,000
Deferred Charges:
6,556,000
6,374,000
4,802,000
4,429,000
Deposits and Other:
2,759,000
2,271,000
2,437,000
2,299,000
Total Assets:
32,840,000
31,641,000
26,720,000
25,279,000
Quarterly Liabilities and Net Worth
All numbers in thousands
Quarter:
Q2 1999
Q1 1999
Q4 1998
Q3 1998
Accounts Payable:
2,410,000
2,468,000
2,040,000
1,727,000
Current Long-term
Debt:
3,185,000
3,763,000
2,231,000
2,423,000
Accrued Expenses:
1,724,000
1,857,000
2,698,000
2,548,000
Other Current Liab.:
4,243,000
4,353,000
3,459,000
3,498,000
Total Current Liab.:
11,562,000
12,441,000
10,428,000
10,196,000
Long-term Debt:
3,716,000
2,404,000
2,409,000
1,899,000
Other Long-term Liab.:
8,511,000
8,359,000
8,349,000
8,262,000
Total Liabilities:
23,789,000
23,204,000
21,186,000
20,357,000
Preferred Stock:
0
4,728,000
0
0
Common Stock Net:
27,000
13,000
13,000
13,000
Capital Surplus:
4,996,000
0
4,485,000
4,251,000
Retained Earnings:
4,350,000
3,965,000
1,364,000
1,028,000
Other Equities:
-322,000
-269,000
-328,000
-370,000
Shareholders' Equity:
9,051,000
8,437,000
5,534,000
4,922,000
Total Liab. and Worth:
32,840,000
31,641,000
26,720,000
25,279,000
Haim |
