gspn uses those bad pro forma earnings numbers.
Fully taxed, pro forma net income was $13,597,000 or pro forma diluted earnings per share of $0.18, compared to a pro forma net loss of $258,000 or a pro forma basic loss per share of $0.01 in the 1999 period.
Including acquisition related items, which consist of amortization of intangible assets, non-cash compensation, non-cash interest expense, and the gain on the redemption of the beneficial conversion feature, the reported net loss for the third quarter ended September 30, 2000 was $6,947,000, or a basic and diluted loss per share of $0.10.
GlobeSpan Inc. 3Q Pro Forma Net 18c/Shr vs. this Net income (.10) (.01)
Figures in parentheses are losses.
GlobeSpan Pro Forma Figures Adjusted For Tax, Chgs
GlobeSpan 3Q Rev $110.4M Vs $17M
GlobeSpan 3Q Loss Before Extrd Item 74c/Shr
GlobeSpan Inc. Results -2: 3Q Fincl Table
3rd Quar Sept. 30:
2000 1999
Revenue $110,353,000 $17,032,000
Inc bef item (50,386,000) (258,000)
Extrd item a 43,439,000 ....
Net income (6,947,000) (258,000)
Avg shrs (basic) 68,491,000 55,397,000
Shr earns (basic)
Inc bef item (.74) (.01)
Extrd item a .64 ....
Net income (.10) (.01)
Figures in parentheses are losses.
a. For redeeming beneficial conversion feature.
On a pro forma basis, which excludes acquisition-related expenses of amortization of intangibles, noncash compensation, in-process research and development, noncash interest expense, and the gain on redeeming the beneficial conversion feature, the company had income of $13.6 million, or 18 cents a diluted share, compared with a loss of $258,000, or 1 cent a share.
GlobeSpan Inc. Results -3: 9 Mos Fincl Table, Comment
9 Months Sept. 30:
2000 1999
Revenue $217,314,000 $35,107,000
Inc bef item (161,985,000) (6,491,000)
Extrd item a 43,439,000 ....
Net income (118,546,000) (6,491,000)
Avg shrs (basic) 63,185,000 43,951,000
Shr earns (basic)
Inc bef item (2.57) (.23)
Extrd item a .69 ....
Net income (1.88) b (.23)
Figures in parentheses are losses.
a. For redeeming beneficial conversion feature.
b. Reflects preferred stock deemed dividend and accretion of $3.47 million.
On a pro forma basis, which excludes acquisition-related expenses of amortization of intangibles, noncash compensation, in-process research and development, noncash interest expense, and the gain on redeeming the beneficial conversion feature, the company had net income of $23.3 million, or 33 cents a diluted share, compared with a loss of $5.37 million, or 12 cents a share.
GlobeSpan Inc. (GSPN) sells integrated circuit, software and systems designs for digital subscriber line applications. |
