MILPITAS, Calif, Jan 28 (Reuters) -
Consolidated Condensed Statements of Operations
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended Year Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
1998 1997 1998 1997
Revenues $445,385 $323,036 $1,490,701 $1,290,275
Costs and expenses:
Cost of revenues 287,498 178,305 867,278 675,153
Research and development
79,620 60,021 286,041 226,219
Selling, general and
administrative 66,169 47,312 219,566 190,680
Total costs and expenses
before goodwill, special
charges, net interest
and other 433,287 285,638 1,372,885 1,092,052
Net interest (expense)/income
and other (1,780) 8,625 10,808 32,535
Income from operations before
goodwill and special items
10,318 46,023 128,624 230,758
Goodwill and special
income/(expense), net *
7,145 (1,284) (327,395) (7,322)
Income/(loss) before income
taxes and cumulative effect
of change in accounting
principle 17,463 44,739 (198,771) 223,436
Provision for income taxes
4,330 12,575 8,445 62,748
Income/(loss) before
cumulative effect of change
in accounting principle
13,133 32,164 (207,216) 160,688
Cumulative effect of change
in accounting principle -- (1,440) -- (1,440)
Net income/(loss) 13,133 30,724 ( 207,216) 159,248
Earnings (loss) per share:
Basic 0.09 0.22 ( 1.47) 1.15
Diluted ** 0.09 0.22 ( 1.47) 1.11
Shares used in computing per
share amounts:
Basic 141,279 140,752 140,799 138,576
Diluted *** 141,978 142,526 140,799 144,027
Three Months Ended Year Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
1998 1997 1998 1997
* Goodwill and special items:
Acquired in-process research
and development -- -- (224,800) (2,850)
Amortization of goodwill
(9,526) (1,284) (18,124) (4,472)
Restructuring of operations -- -- (75,400) --
Other special
income/(expense) 16,671 -- (9,071) --
Total goodwill and
special income/(expense)
7,145 (1,284) (327,395) (7,322)
** Diluted earnings per share are based on average common
and common equivalent shares outstanding. In computing diluted
earnings per share for the periods presented, net income is
increased for interest (net of tax effect) on the convertible
debentures ($0 and $1,279 for the year ended December 31, 1998
and 1997, respectively) considered dilutive common stock
equivalents.
*** For the year ended December 31, 1998, common equivalent
shares of 965 were excluded from the computation of diluted
shares as a result of their antidilutive effect on earnings per
share.
REUTERS
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