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ATI Technologies, Inc. Ticker: ATYT CUSIP: 001941103
BRIEF
ATI Technologies, Inc. is principally enaged in the
design and manufacture of video, 2D/3D graphics and
multimedia hardware and software products for the desktop,
mobile and workstation PC markets. For the comparable 6
months ended 2/28/99, sales rose 79% to $624.6M. Net
income according to U.S. GAAP fell 26% to $42M. Results
reflect increasing sales for RAGE LT-PRO based products,
offset by a $49.3M write-off of purchased in-process R&D.
RATIOS AND STATISTICS AT A GLANCE
(As of 04/16/99)
Price $ 14.44 Avg Monthly Vol. 6.152 Mil.
52W High $ 18.50 Avg Daily Vol. 0.222 Mil.
52W Low $ 9.19
Beta NA
TTM EPS $ 0.47 Ann. Div. Rate $ 0.00
P/E 30.59 Div. Yield 0.00 %
5 Yr High P/E NA 5 Yr Avg Yield 0.00 %
5 Yr Low P/E NA Last Dividend Decl. $ NA
Last Div Ex-Date NA
Last Div Pay Date NA
INSTITUTIONAL OWNERSHIP
# of Institutions 68
% Shares Out. Owned 19.73 %
3 Month Net purchases 24.04 Mil.
COMPANY COMPARISON
TO THE COMPUTERS & OFFICE EQUIPMENT AND S&P 500 AGGREGATES
COMPANY INDUSTRY % S&P 500
PROFITABILITY RATIOS:
Net Profit Margin 12.65 7.67 164.9% 10.88
Return on Equity 38.01 26.52 143.4% 21.86
Interest Coverage 490.84 16.68 2,943.0% 7.96
VALUATION RATIOS:
P/E Ratio 30.59 42.69 71.7% 35.66
Dividend Yield 0.00 0.31 0.0% 1.22
Price to Tangible Book 10.28 14.82 69.4% 11.46
Price to Book 8.69 14.42 60.3% 8.31
Price to Free Cash Flow 85.94 60.31 142.5% 46.01
FINANCIAL STRENGTH RATIOS:
Current Ratio 2.12 2.06 103.2% 1.44
LT Debt to Equity 0.00 0.35 0.0% 0.88
Total Debt to Equity 0.00 0.55 0.2% 1.06
GROWTH STATISTICS:
3 Yr Rev Growth 47.61 27.29 174.4% 15.18
3 Yr EPS Growth 108.27 30.85 351.0% 15.39
3 Yr Div Growth NM 16.71 NM% 10.85
Reinvestment Rate 100.00 91.02 109.9% 70.00
EQUITY
Common Stock no Par, 11/98, unlim. auth., 199,606,903 issd.
Insiders control approx. 17%. (As of 8/98) The Company
reports no short term or long term debt. 4/98, 4-for-1
stock split. *NOTE: Company changed reporting currency
from Canadian to US dollars with 11/30/98 Quarter, Summ.
Q's translated into US dollars at $1 = C$1.57.
ANALYST FOOTNOTES
Summ. Q's prior to FY'99 do not reflect U.S. GAAP
Adjustments.
HISTORICAL QUARTERLY RESULTS
REVENUE
(Thousands of U.S. Dollars)
1996 1997 1998 1999
1st Qtr NOV 76,051 104,555 167,826 327,388
2nd Qtr FEB 73,845 96,520 181,957 297,180
3rd Qtr MAY 73,374 86,063 182,758
4th Qtr AUG 74,078 97,030 204,726
EARNINGS PER SHARE
(U.S. Dollars per share)
1st Qtr NOV 0.025 0.045 0.115 0.010
2nd Qtr FEB 0.025 0.038 0.127 0.180
3rd Qtr MAY 0.025 0.032 0.127
4th Qtr AUG 0.025 0.038 0.134
SELECTED INCOME STATEMENT ITEMS
(Thousands of U.S. Dollars)
ANNUAL YEAR TO DATE
12 MONTHS 12 MONTHS 6 MONTHS 6 MONTHS
ENDING ENDING ENDING ENDING
08/31/97 08/31/98 02/28/98 02/28/99
Revenue 405,066 777,370 368,810 624,568
Operating Expenses 359,077 622,989 291,818 522,801
Operating Income 45,989 154,381 76,992 101,767
Non-Operating Income 2,508 3,970 1,707 2,288
Non-Operating Expenses -257 -104 -28 -288
Income Before Taxes 48,241 158,247 78,672 103,767
Income Taxes 16,197 45,078 24,388 31,983
Income After Taxes 32,044 113,169 54,283 71,784
Adjustments to Income -249 -765 0 -29,751
Inc. for Primary EPS 31,795 112,404 54,283 42,033
EPS Excl. Xord Items 0.166 0.572 0.279 0.209
Disc Opns + Xord Items 0 0 0 0
EPS Incl. Xord Items 0.166 0.572 0.279 0.209
Avg Primary Shs Out. 191,576.00 196,479.00 194,671.70 200,184.00
Common Dividends/Shr 0.000 0.000 0.000 0.000
F.D. EPS Excl. Xord 0.161 0.542 0.256 0.197
F.D. EPS Incl. Xord 0.161 0.542 0.256 0.197
SELECTED BALANCE SHEET ITEMS
(Thousands of U.S. Dollars)
YEAR ENDING QUARTER ENDING
08/31/97 08/31/98 02/28/98 02/28/99
Cash & ST Investments 48,220 46,296 69,896 73,890
Receivables 76,428 158,429 114,197 185,137
Other Current Assets 32,026 129,276 93,152 135,112
Total Current Assets 156,674 334,001 277,244 394,139
LT Investments 18,465 30,080 23,730 31,764
Fixed Assets 20,887 37,202 28,057 47,774
Other LT Assets 0 0 0 51,624
Total Assets 196,026 401,282 329,031 525,301
Accounts Payable 37,317 77,117 100,277 104,993
ST Debt & Curr LTD 0 0 9,585 316
Other Current Liab. 16,931 56,866 20,177 80,306
Total Current Liab. 54,248 133,982 130,039 185,615
LT Debt & Cap Leases 0 0 0 0
Other LT Liabilities 3,360 5,711 2,352 5,700
Total Liabilities 57,608 139,694 132,391 191,315
Preferred Stock 0 0 0 0
Common & Paid In Capital 73,745 83,747 77,684 85,261
Retained Earnings 64,673 177,842 118,956 240,451
Other Equity 0 0 0 8,274
Total Equity 138,418 261,588 196,640 333,986
Shares Outstanding 193,998 199,174 195,993 200,967
SELECTED STATEMENT OF CASH FLOWS ITEMS
INDIRECT METHOD (Thousands of U.S. Dollars)
ANNUAL YEAR TO DATE
12 MONTHS 12 MONTHS 6 MONTHS 6 MONTHS
ENDING ENDING ENDING ENDING
08/31/97 08/31/98 02/28/98 02/28/99
Net Income 32,044 113,169 54,283 71,784
Depreciation & Amort. 4,476 7,278 2,936 24,837
Non Cash Items 4,683 2,352 -1,008 283
Other Operating CF -22,030 -99,517 -32,688 -32,150
Total Operating CF 19,173 23,282 23,523 64,754
Capital Expenditures -8,349 -23,593 -10,106 -15,249
Other Investing CF -12,157 -52,939 -5,265 13,518
Total Investing CF -20,506 -76,531 -15,371 -1,731
Dividends Paid 0 0 0 0
Sale (Purch.) of Stock 6,828 10,002 3,939 5,835
Net Borrowings -6,901 0 0 316
Other Financing CF 0 0 0 0
Total Financing CF -73 10,002 3,939 6,151
Exchange Rate Effect 0 0 0 0
Net Change In Cash -1,406 -43,247 12,091 69,174
COMPANY CONTACT, ADDRESS & PHONE #:
Director of Investor Relations
ATI Technologies, Inc.
33 Commerce Valley Drive East
Thornhill, Ontario
L3T 7N6
Canada
PHONE: (905) 882-2600 |
