Thursday January 21, 4:31 pm Eastern Time
C-Cube Microsystems Q4 results
MILPITAS, Calif., Jan. 21 (Reuters) -
C-CUBE MICROSYSTEMS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)
Quarter Ended Dec. 31, Year Ended Dec. 31,
1998 1997 1998 1997
Net revenues $ 95,800$ 90,065 $ 351,797 $ 337,012
Costs and expenses:
Cost of revenues 44,071 42,330 160,839 151,333
Research and
development 18,897 16,344 74,031 64,204
Selling, general
and administrative 16,756 13,767 60,512 52,732
Total 79,724 72,441 295,382 268,269
Income from
operations 16,076 17,624 56,415 68,743
Other income
(expense), net 1,692 (122) 4,239 (1,757)
Income before
income taxes,
minority
interest and
extraordinary item 17,768 17,502 60,654 66,986
Income tax expense 5,327 6,030 18,196 22,895
Income before
minority
interest and
extraordinary
item 12,441 11,472 42,458 44,091
Minority interest
in net income
(loss) of
subsidiary 17 (125) (337) (248)
Income before
extraordinary item 12,424 11,597 42,795 44,339
Extraordinary
gain on buyback of
convertible
notes -- -- 3,494 --
Net income 12,424 11,597 46,289 44,339
Income per
diluted share
before
extraordinary
item 0.31 0.30 1.11 1.15
Extraordinary item
per diluted share -- -- 0.09 --
Net income per
diluted share 0.31 0.30 1.19 1.15
Shares used in
computation 40,708 42,023 40,754 41,683
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