Dallas Semiconductor Corporation reports record net sales and net income for the third quarter 1995.DALLAS--(BUSINESS WIRE)--Oct. 12, 1995--Dallas Semiconductor Corporation (DS/NYSE) reported a record $60,512,000 net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the third quarter of 1995, up 34% compared with $45,201,000 net sales for the third quarter of 1994. Net income for the third quarter of 1995 was also a record $9,547,000 ($0.34 per share), up 30% compared with $7,367,000 ($0.27 per share) for the third quarter of 1994. "Growth was supported by contributions from six different product families, including Microcontrollers, Timekeeping, System Extension, NVSRAMs, Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , and Silicon Timed Circuits," said Mr. C Mr C (aka Mr. Chuggs, born Richard West on January 2 1964) is a British DJ, musician and rapper. Best known for fronting The Shamen during their most commercially successful era, Mr C is also an acclaimed house music DJ and co-owner/co-founder of London's The End nightclub .V. Prothro, Chairman and Chief Executive Officer. "We are pleased that our progress is supported by multiple product initiatives and markets as we continue to focus our activities on achieving sustainable, broadly supported and profitable growth," said Mr. Prothro. Dallas Semiconductor Dallas Semiconductor, now a subsidiary of Maxim Integrated Products, designs and manufactures analog, digital, and mixed-signal semiconductors (integrated circuits, or ICs). Corporation develops, manufactures and markets high performance Complementary Metal Oxide Semiconductor See CMOS. (integrated circuit) Complementary Metal Oxide Semiconductor - (CMOS) A semiconductor fabrication technology using a combination of n- and p-doped semiconductor material to achieve low power dissipation. (CMOS (Complementary Metal Oxide Semiconductor) Pronounced "c-moss." The most widely used integrated circuit design. It is found in almost every electronic product from handheld devices to mainframes. ) integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. and semiconductor-based systems that provide innovative and cost- effective solutions to electronic design problems in a wide range of existing and emerging markets. -0-
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Thousands except per share amounts)
(Unaudited)
Three Months Ended Nine Months Ended
---------------------------- ------------------
Oct. 1, July 2, Oct. 2, Oct. 1, Oct. 2,
1995 1995 1994 1995 1994
-------- -------- -------- -------- --------
Net sales $ 60,512 $ 57,036 $ 45,201 $169,582 $133,425
Cost of sales 30,429 28,818 22,556 85,292 66,248
Research and
development 7,436 6,957 5,663 20,925 16,536
Selling, general and
administrative 9,292 8,738 6,596 25,934 19,456
-------- -------- -------- -------- --------
Total costs and
expenses 47,157 44,513 34,815 132,151 102,240
-------- -------- -------- -------- --------
Operating income 13,355 12,523 10,386 37,431 31,185
Interest income, net 894 789 776 2,417 2,446
-------- -------- -------- -------- --------
Income before income
taxes 14,249 13,312 11,162 39,848 33,631
Provision for income
taxes 4,702 4,459 3,795 13,278 11,435
-------- -------- -------- -------- --------
Net income $ 9,547 $ 8,853 $ 7,367 $ 26,570 $ 22,196
======== ======== ======== ======== ========
Net income per share $ 0.34 $ 0.32 $ 0.27 $ 0.96 $ 0.81
======== ======== ======== ======== ========
Weighted average
common and common
equivalent shares
outstanding 28,083 27,674 27,231 27,667 27,391
======== ======== ======== ======== ========
Dividends declared
per share $ .025 $ .025 $ -- $ 0.075 $ --
======== ======== ======== ======== ========
Effective Tax Rate 33.0% 33.5% 34.0% 33.3% 34.0%
Percentage of Sales
Gross margin 49.7% 49.5% 50.1% 49.7% 50.3%
Research &
development 12.3% 12.2% 12.5% 12.3% 12.4%
Selling, general
& admin. 15.4% 15.3% 14.6% 15.3% 14.6%
Income from
operations 22.1% 22.0% 23.0% 22.1% 23.4%
Net income 15.8% 15.5% 16.3% 15.7% 16.6%
CONDENSED CONSOLIDATED BALANCE SHEETS
(Thousands)
(Unaudited)
Oct. 1, 1995 Jan. 1, 1995
------------ ------------
Assets
Current assets:
Cash and cash investments $ 79,197 $ 64,520
Accounts receivable 32,794 28,330
Inventories 43,179 40,453
Other current assets 5,865 6,291
-------- --------
Total current assets 161,035 139,594
Property, plant and equipment, net 92,994 78,842
Other assets 4,300 2,791
-------- --------
$258,329 $221,227
======== ========
Liabilities and Stockholders' Equity
Current liabilities 32,721 26,474
Stockholders' equity 225,608 194,753
-------- --------
$258,329 $221,227
======== ========
Additional quarterly information: Q395
----
Annualized return on equity 17.4%
Depreciation expense $ 5,402
Capital expenditures $ 13,769
Dividends paid $ 657
CONTACT: Alan A`lan´ n. 1. A wolfhound. P. Hale, Vice President, Finance, Dallas Semiconductor Corporation, 214/450-0968, or fax: 214/450-3748 |
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