Now Compare CIEN's results with TLAB:
CONSOLIDATED STATEMENTS OF CASH FLOW
Year Year Year
Ended Ended Ended
(In Thousands) 01/01/99 01/02/98 12/27/96
-------- -------- --------
Operating Activities
Net earnings $398,328 $263,689 $117,965
Adjustments to reconcile net earnings
to net cash provided by operating
activities:
Depreciation and amortization 56,085 46,892 32,648
Provision for doubtful receivables 7,572 1,494 2,157
Deferred income taxes 3,344 (3,260) (23,486)
Gain on the sale of investments (74,398) (21,098) (289)
Asset impairment charge 24,793 --- ---
Merger costs 12,991 --- ---
Acquired in-process research
and development --- --- 74,658
Net changes in assets and liabilities,
net of effects from acquisitions:
Accounts receivable (188,670) (126,835) (43,535)
Inventories (25,877) (14,129) (7,434)
Other current assets 1,289 (117) (1,206)
Long-term assets (38,975) (24,513) (10,272)
Accounts payable 9,937 14,518 6,348
Accrued liabilities 7,918 7,468 14,801
Income taxes 11,790 38,351 (2,221)
Long-term liabilities 3,018 2,836 (120)
------ ------ ------
Net Cash Provided by Operating Activities 209,145 185,296 160,014
Investing Activities
Acquisition of property, plant and
equipment, net (75,870) (84,717) (64,831)
Payments for purchases of marketable
securities (682,458) (315,947) (122,679)
Proceeds from sales and maturities of 616,119 212,274 99,931
marketable securities
Payments for acquisitions,
net of cash acquired 8,778 (7,821) (91,732)
Origination of loan receivable --- --- (5,822)
------- ------- -------
Net Cash Used for Investing Activities (133,431) (196,211) (185,133)
Financing Activities
Common stock sold through stock option plans* 47,906 34,759 22,480
Proceeds from notes payable --- --- 40,000
Payments of notes payable --- --- (40,000)
------ ------ ------
Net Cash Provided by Financing Activities 47,906 34,759 22,480
Effect of Exchange Rate Changes on Cash 2,050 (5,242) 600
Net Increase (Decrease) in Cash
And Cash Equivalents 125,670 18,602 (2,039)
Cash and Cash Equivalents At Beginning of Year 109,048 90,446 92,485
------- ------- -------
Cash and Cash Equivalents At End of Year $234,718 $109,048 $90,446
======= ======= =======
Other Information
Interest paid $187 $326 $1,165
Income taxes paid $148,188 $78,717 $67,887 |
