hot off the press...but why now?
.
.
.Item 1. Consolidated Financial Statements
CABLETRON SYSTEMS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
(unaudited)
August 31, 1999 February 28, 1999
---------------- -----------------
Assets
Current Assets:
Cash and cash equivalents ......................................... $ 111,003 $ 159,422
Short-term investments ............................................ 85,689 113,932
Accounts receivable, net .......................................... 230,513 216,793
Inventories, net .................................................. 227,411 229,512
Deferred income taxes ............................................. 53,522 60,252
Prepaid expenses and other assets ................................. 64,650 60,510
----------- -----------
Total current assets ..................................... 772,788 840,421
----------- -----------
Long-term investments ............................................. 207,770 202,984
Long-term deferred income taxes ................................... 155,140 135,197
Property, plant and equipment, net ................................ 160,075 188,479
Intangible assets, net ............................................ 181,311 199,419
----------- -----------
Total assets ............................................. $ 1,477,084 $ 1,566,500
=========== ===========
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable .................................................. $ 115,339 $ 121,580
Current portion of long-term obligation ........................... 36,198 129,747
Accrued expenses .................................................. 213,787 218,149
----------- -----------
Total current liabilities ................................ 365,324 469,476
----------- -----------
Long-term deferred income taxes ................................... 10,321 7,191
----------- -----------
Total liabilities ........................................ 375,645 476,667
----------- -----------
Stockholders' equity:
Preferred stock, $1.00 par value. Authorized
2,000 shares; none issued .................................. --- ---
Common stock $0.01 par value. Authorized
240,000 shares; issued and outstanding
174,811 and 172,184, respectively .......................... 1,748 1,722
Additional paid-in capital ........................................ 575,026 551,232
Retained earnings ................................................. 526,971 536,487
----------- -----------
1,103,745 1,089,441
Accumulated other comprehensive income ............................ (2,306) 392
----------- -----------
Total stockholders' equity ............................... 1,101,439 1,089,833
----------- -----------
Total liabilities and stockholders' equity ............... $ 1,477,084 $ 1,566,500
=========== =========== |
