Brooktree reports results for fiscal 1995.SAN DIEGO--(BUSINESS WIRE)--Oct. 25, 1995--Brooktree Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BTRE BTRE Bureau of Transport and Regional Economics (formerly Bureau of Transport Economics; Australia) BTRE Broadcast Television Recording Engineers ) Wednesday Wednesday: see week. announced financial results for the fiscal year and fourth quarter ended Sept. 30, 1995. Revenues for fiscal 1995 were $137.7 million, up 26 percent from the $109 million reported in fiscal 1994. Revenues for the fourth quarter were $42.5 million, up 48 percent from the $28.8 million reported in the fourth quarter a year ago. Net income for fiscal 1995 was $12.5 million, or 69 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis, which included an after-tax af·ter-tax also af·ter·tax adj. Relating to or being that which remains after payment, especially of income taxes: after-tax profits. gain of $8.1 million, or 45 cents per share, from the sale of a portion of the company's stock holdings in PairGain Technologies Inc. and an after-tax charge of $1.9 million, or 11 cents per share, for the settlement of two securities class action lawsuits class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax . Fiscal 1994 net income was $2 million, or 12 cents per share, which included an after-tax gain of $2.3 million, or 14 cents per share, from the sale of a portion of Brooktree's holdings in PairGain. Net income for the fourth quarter of fiscal 1995 was $4.3 million, or 23 cents per share, on a fully diluted basis, which included $1.8 million, or 10 cents per share, from the sale of PairGain stock. Net income in the fourth quarter of fiscal 1994 was $0.7 million, or 4 cents per share, and included $0.9 million, or 5 cents per share, from the sale of PairGain stock. "Fiscal 1995 was a year of significant advancements in multimedia and communications efforts for Brooktree," said James James, person in the Bible James, in the Gospel of St. Luke, kinsman of St. Jude. The original does not specify the relationship. James, rivers, United States James. A. Bixby Bixby can refer to:
"On the communications front, our HDSL See DSL. HDSL - High bit-rate Digital Subscriber Line chipset was integrated into equipment for more than 20 of the world's telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. equipment suppliers." Brooktree designs, develops and markets high-performance Adj. 1. high-performance - modified to give superior performance; "a high-performance car" superior - of high or superior quality or performance; "superior wisdom derived from experience"; "superior math students" digital and mixed-signal integrated circuits A mixed-signal integrated circuit combines analog circuits with digital signal processing (DSP) circuits on a single semiconductor die. An integrated circuit that includes both analog and digital circuitry (but no DSP), like a 555 timer, is generally not considered a mixed-signal for computer graphics, multimedia and communications applications. The company, which has its headquarters in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , employs more than 600 people worldwide. More information on Brooktree is available from the company's SEC filings, or by contacting the company directly. -0-
BROOKTREE CORP.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
Three Months Ended Twelve Months Ended
Sept. 30, Sept. 24, Sept. 30, Sept. 24,
1995 1994 1995 1994
Revenues $42,453 $28,767 $137,662 $108,964 Cost of sales 22,880 16,402 71,322 58,804 Gross margin 19,573 12,365 66,340 50,160
Operating expenses:
Research & development 7,637 6,768 28,332 26,131
Sales & marketing 5,854 4,267 20,964 16,955
General & administrative 2,683 1,899 8,870 5,951
Restructuring charge -- -- -- 2,815
Total 16,174 12,934 58,166 51,852
Operating income (loss) 3,399 (569) 8,174 (1,692) Litigation settlement -- -- (3,050) -- Gain on sale of investment 2,898 1,061 12,911 3,125 Interest income -- net 458 381 1,877 1,324 Income before income taxes 6,755 873 19,912 2,757 Provision for income taxes 2,500 155 7,368 730 Net income $4,255 $718 $12,544 $2,027
Earnings per share:
Primary $0.23 $0.04 $0.72 $0.12
Fully diluted $0.23 $0.04 $0.69 $0.12
Weighted average common
and common equivalent shares:
Primary 18,326 16,263 17,418 16,432
Fully diluted 18,381 16,623 18,181 16,539
-0-
BROOKTREE CORPORATION
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
Sept. 30, Sept. 24,
1995 1994
ASSETS
Current assets:
Cash and cash equivalents $ 13,509 $ 11,288
Short-term investments 29,949 27,545
Receivables 23,757 15,742
Inventories 20,805 15,571
Deferred income taxes 4,752 4,083
Prepaid and other current assets 9,464 2,940
Total current assets 102,236 77,169
Property and equipment 49,137 42,517
Other assets 36,669 22,727
$188,042 $142,413
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term obligation $ 3,602 $ 1,333
Accounts payable 16,245 5,725
Accrued payroll and benefits 5,029 3,241
Accrued expenses 3,917 1,392
Income taxes payable 1,306 1,592
Deferred revenue 5,099 3,182
Total current liabilities 35,198 16,465
Long-term obligations 8,870 3,013
Shareholders' equity:
Common stock 74,249 69,928
Gain on available-for-sale securities 4,174 --
Retained earnings 65,551 53,007
Total shareholders' equity 143,974 122,935
$188,042 $142,413
CONTACT: Brooktree Corp. David Russian Russian associated in some way with Russia. Russian blue a breed of cats with short, dense, silver-tipped blue-colored coat and vivid green eyes. , 619/535-3205 or Stapleton Communications Inc. Deborah Stapleton, 415/988-9207 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion