-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, B4OmisO9bYEoC9wzy2jw6tNkkG3HwOyy3KR06vPO8f/fD8XgM3Xu8ZNK/+erntBa C5sIe7UPDgPcnOkTwyy5Bg== 0000950135-96-005247.txt : 19961210 0000950135-96-005247.hdr.sgml : 19961210 ACCESSION NUMBER: 0000950135-96-005247 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19961026 FILED AS OF DATE: 19961209 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITRODE CORP CENTRAL INDEX KEY: 0000101911 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 042271186 STATE OF INCORPORATION: MD FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-05609 FILM NUMBER: 96677678 BUSINESS ADDRESS: STREET 1: 7 CONTINENTAL BLVD CITY: MERRIMACK STATE: NH ZIP: 03054 BUSINESS PHONE: 6034298770 MAIL ADDRESS: STREET 1: 7 CONTINENTAL BLVD CITY: MERRIMACK STATE: NH ZIP: 03054 10-Q 1 FORM 10-Q QUARTERLY REPORT 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended OCTOBER 26, 1996 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-5609 UNITRODE CORPORATION (Exact name of registrant as specified in its charter) MARYLAND 04-2271186 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 7 CONTINENTAL BOULEVARD, MERRIMACK, NEW HAMPSHIRE 03054 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (603) 424-2410 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No --- --- There were 11,555,473 shares of common stock outstanding as of October 26, 1996. -1- 2 PART I. FINANCIAL INFORMATION Item 1. Financial Statements Unitrode Corporation Consolidated Balance Sheets
October 26, 1996 January 31, 1996 Assets (Unaudited) - -------------------------------------------------------------------------------- Current assets: Cash and cash equivalents $ 42,658,496 $ 36,228,314 Accounts receivable, net of allowance of $368,977 in October, 1996 and $367,804 in January, 1996 15,946,034 17,904,537 Notes receivable 899,447 884,645 Inventories: Raw materials 1,545,063 1,698,344 Work in process 6,684,416 5,384,901 Finished goods 3,556,903 2,888,182 ------------ ------------ Total inventory 11,786,382 9,971,427 ------------ ------------ Deferred income taxes 3,501,000 4,112,000 Prepaid expenses and other current assets 2,099,457 2,241,077 ------------ ------------ Total current assets 76,890,816 71,342,000 ------------ ------------ Property, plant and equipment, at cost 92,678,010 79,078,555 Less accumulated depreciation 51,757,012 43,789,869 ------------ ------------ Property, plant and equipment, net 40,920,998 35,288,686 ------------ ------------ Notes and other receivables, net of unamortized discount of $60,952 in October, 1996 and $78,095 in January, 1996 3,662,283 4,341,604 Deferred income taxes 321,000 102,000 Restricted cash and investments 645,847 437,285 Excess of cost over net assets acquired, net of accumulated amortization of $2,039,206 in October, 1996 and $1,826,203 in January, 1996 2,051,123 2,264,126 Other investments 2,500,000 1,000,000 Other assets 3,054,023 3,648,505 ------------ ------------ Total assets $130,046,090 $118,424,206 ============ ============
The accompanying notes are an integral part of the financial statements. -2- 3 Unitrode Corporation Consolidated Balance Sheets
October 26, 1996 January 31, 1996 Liabilities and Stockholders' Equity (Unaudited) - ------------------------------------------------------------------------------------ Current liabilities: Accounts payable $ 6,415,792 $ 8,401,521 Income taxes payable 3,020,573 2,000,229 Accrued employee compensation and benefits 4,114,857 7,794,635 Other current liabilities 6,538,349 5,998,299 ------------ ------------ Total current liabilities 20,089,571 24,194,684 ------------ ------------ Deferred income taxes 1,300,000 1,340,000 Other long-term liabilities 626,111 472,348 ------------ ------------ Total liabilities 22,015,682 26,007,032 ------------ ------------ Stockholders' equity: Common stock, $.20 par value; Authorized - 30,000,000 shares Issued - 11,555,473 in October, 1996 and 11,467,948 in January, 1996 2,311,095 2,293,590 Additional paid-in capital 26,341,626 25,582,283 Retained earnings 79,531,874 64,838,832 ------------ ------------ 108,184,595 92,714,705 Less: Deferred compensation 154,187 297,531 ------------ ------------ Total stockholders' equity 108,030,408 92,417,174 ------------ ------------ Total liabilities and stockholders' equity $130,046,090 $118,424,206 ============ ============
The accompanying notes are an integral part of the financial statements. -3- 4 Unitrode Corporation Consolidated Statements of Operations (Unaudited)
For the three months ended October 26, 1996 October 28, 1995 - --------------------------------------------------------------------------------- Net sales $32,074,698 $29,427,264 Cost of sales 15,229,237 14,023,335 ----------- ----------- Gross profit 16,845,461 15,403,929 ----------- ----------- Operating expenses: Research and development 4,266,775 3,842,443 Selling, general and administrative 5,534,090 5,559,844 ----------- ----------- Total operating expenses 9,800,865 9,402,287 ----------- ----------- Income from operations 7,044,596 6,001,642 ----------- ----------- Other income (expense): Royalty income 832,030 689,153 Non-operating income (expense), net (254,430) 102,951 Interest income 496,642 405,172 Interest expense (24,479) (21,274) ----------- ----------- Total other income 1,049,763 1,176,002 ----------- ----------- Income before income tax provision 8,094,359 7,177,644 Income tax provision 3,109,000 2,634,000 ----------- ----------- Net income $ 4,985,359 $ 4,543,644 =========== =========== Earnings per common share: Net income $ .42 $ .38 =========== =========== Average common and common equivalent shares outstanding 11,775,319 11,897,040 ========== ==========
The accompanying notes are an integral part of the financial statements. -4- 5 Unitrode Corporation Consolidated Statements of Operations (Unaudited)
For the nine months ended October 26, 1996 October 28, 1995 - --------------------------------------------------------------------------------- Net sales $96,303,823 $83,051,792 Cost of sales 45,347,734 39,633,452 ----------- ----------- Gross profit 50,956,089 43,418,340 ----------- ----------- Operating expenses: Research and development 12,747,064 10,328,072 Selling, general and administrative 17,169,612 16,245,093 ----------- ----------- Total operating expenses 29,916,676 26,573,165 ----------- ----------- Income from operations 21,039,413 16,845,175 ----------- ----------- Other income (expense): Royalty income 2,087,184 1,811,881 Non-operating expense, net (229,182) (54,570) Interest income 1,406,998 1,233,892 Interest expense (71,526) (65,442) ----------- ----------- Total other income 3,193,474 2,925,761 ----------- ----------- Income before income tax provision 24,232,887 19,770,936 Income tax provision 9,279,000 7,254,000 ----------- ----------- Net income $14,953,887 $12,516,936 =========== =========== Earnings per common share: Net income $ 1.26 $ 1.05 =========== =========== Average common and common equivalent shares outstanding 11,822,707 11,920,763 ========== ==========
The accompanying notes are an integral part of the financial statements. -5- 6 Unitrode Corporation Consolidated Statements of Cash Flows (Unaudited)
For the nine months ended October 26, 1996 October 28, 1995 - ------------------------------------------------------------------------------------------ Cash flows from operating activities: Net income $ 14,953,887 $ 12,516,936 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 8,402,705 6,451,370 Deferred compensation 102,094 159,531 Deferred income taxes 352,000 (32,000) Other, net 336,213 158,919 (Increase) decrease in assets: Accounts receivable 1,968,503 (5,077,605) Inventories (1,814,955) (1,647,169) Other current and long-term assets 103,875 (1,587,874) Increase (decrease) in liabilities: Accounts payable (1,985,729) 952,083 Income taxes payable 1,020,344 (113,514) Accrued employee compensation and benefits (3,679,778) 1,874,120 Other current and long-term liabilities 693,813 290,474 ------------ ------------ Total adjustments 5,499,085 1,428,335 ------------ ------------ Net cash provided by operating activities 20,452,972 13,945,271 ------------ ------------ Cash flows from investing activities: Purchase of property, plant and equipment (13,788,981) (6,238,220) Proceeds on sale of assets 261,819 419,449 Repayment of notes receivable 681,662 667,588 Restricted cash and investments (208,562) -- Other investments (1,501,528) (84,581) Accrued disposal costs -- (245,617) Maturities of short-term investments 4,345,200 14,200,750 Purchases of short-term investments (4,369,653) (1,289,427) ------------ ------------ Net cash provided (used) by investing activities (14,580,043) 7,429,942 ------------ ------------ Cash flows from financing activities: Principal payments on debt -- (173,077) Proceeds from exercise of common stock options 907,443 911,682 Purchase of common stock (350,190) (10,025,275) ------------ ------------ Net cash provided (used) by financing activities 557,253 (9,286,670) ------------ ------------ Net increase in cash and cash equivalents 6,430,182 12,088,543 Cash and cash equivalents at beginning of period 36,228,314 17,752,008 ------------ ------------ Cash and cash equivalents at end of period $ 42,658,496 $ 29,840,551 ============ ============ Supplemental information: Interest paid $ 67,000 $ 68,000 Income taxes paid, net of tax refunds 7,904,000 7,400,000
The accompanying notes are an integral part of the financial statements. -6- 7 Unitrode Corporation Notes to Consolidated Financial Statements October 26, 1996 (Unaudited) NOTE 1 - BASIS OF PRESENTATION - ------------------------------ The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes included in the annual report on Form 10-K of Unitrode Corporation (the "Company") for the year ended January 31, 1996. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the nine-month period ended October 26, 1996 are not necessarily indicative of the results that may be expected for the year ending January 31, 1997. Certain amounts for fiscal year 1996 have been reclassified to conform with presentation of similar amounts in fiscal year 1997. NOTE 2 - NEW ACCOUNTING STANDARDS - --------------------------------- Effective February 1, 1996, the Company adopted "Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed of" ("SFAS No. 121"). The adoption of SFAS No. 121 had no material effect on the Company's financial statements. In October 1995, Statement of Financial Accounting Standards No. 123, "Accounting for Stock-Based Compensation" ("SFAS No. 123"), was issued and will require the Company to elect either expense recognition or a disclosure-only alternative for stock-based employee compensation. SFAS No. 123 must be adopted in the Company's fiscal year 1997 financial statements with comparable disclosures for the prior year. The Company has determined that it will elect the disclosure-only alternative. The Company will be required to disclose pro forma net income and earnings per share in the notes to the financial statements using the fair-value-based method beginning in fiscal year 1997 with comparable disclosures for fiscal year 1996. The Company has not yet determined the impact of these pro forma adjustments to its net income or earnings per share. NOTE 3 - ACQUISITIONS AND DISPOSITIONS OF ASSETS - ------------------------------------------------ On February 28, 1996, the Company made an additional $1.5 million investment in GMT Microelectronics Corporation ("GMT") redeemable preferred stock. GMT is a foundry in which the Company has a minority investment and has a right to a certain percentage of its capacity. -7- 8 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations RESULTS OF OPERATIONS - --------------------- Three Months Ended October 26, 1996 versus Three Months Ended October 28, 1995 Net sales for the quarter ended October 26, 1996 increased $2.6 million, or 9%, to $32.1 million when compared to the previous year's third quarter. This increase in sales was primarily due to the increase in demand for products in the computer peripherals segment of the electronic data processing markets. Product sales to one of the Company's customers represented approximately 33% and 23% of sales for the third quarter of fiscal years 1997 and 1996, respectively. Approximately 74% of sales in the third quarter were international compared with 64% in the prior year. Gross profit as a percentage of net sales was 52.5% for the third quarter of fiscal year 1997 compared to 52.3% for the same quarter in the prior year. Research and development expenses were approximately 13% of net sales in the third quarters of both fiscal years 1997 and 1996. Selling, general and administrative expenses were 17% of net sales, or $5.5 million, compared with 19%, or $5.6 million, in the previous year's third quarter. This percentage decrease was primarily due to the Company controlling costs while sales volume increased. The consolidated effective tax rate for the quarter ended October 26, 1996 was 38.4% compared with 36.7% for the quarter ended October 28, 1995. This increase was due primarily to the absence in fiscal year 1997 of benefits related to tax credits and deferred tax assets that were available in fiscal year 1996. Net income was $5.0 million, or $.42 per share, in the third quarter of fiscal year 1997 compared to $4.5 million, or $.38 per share, in the third quarter of fiscal year 1996, an increase of 10%. Bookings in the third quarter decreased 1%, or approximately $0.4 million to $32.1 million as compared with the prior year's third quarter. Backlog at October 26, 1996 increased 8% to $38.7 million compared with $36.0 million at October 28, 1995, and remained level with the previous quarter. The book-to-bill ratio for the third quarter was 1.00 compared to 1.10 in the prior year's third quarter. The decrease in bookings and the lower book-to-bill ratio reflect current conditions in the marketplace, such as smaller quantity orders due to sufficient customer inventories, shorter order lead times due to expanded vendor capacity, and slower market growth rates for certain computer and communication products. Nine Months Ended October 26, 1996 versus Nine Months Ended October 28, 1995 Net sales for the nine months ended October 26, 1996 were $96.3 million, an increase of 16%, compared with $83.1 million in the prior year's first nine months. This sales increase was primarily due to the increase in demand for products in the computer peripherals segment of the electronic data processing markets. Product sales to one of the Company's customers represented approximately 28% and 21% of sales for the nine months ended October 26, 1996 and October 28, 1995, respectively. International sales accounted for approximately 68% of total sales for the nine months ended October 26, 1996 compared to 62% for the nine months ended October 28, 1995. -8- 9 RESULTS OF OPERATIONS (CONTINUED) - --------------------- Gross profit as a percentage of net sales was 52.9% for the nine months ended October 26, 1996, compared with 52.3% for the prior year. This improvement was primarily due to favorable product mix increasing the overall average selling prices. Research and development expenses were approximately 13% of net sales for the first nine months of fiscal year 1997 compared with approximately 12% in fiscal year 1996. This increase of $2.4 million relates primarily to increased staffing and additional product and process development efforts to support opportunities in the Company's markets. Selling, general and administrative expenses were approximately 18% of net sales for the nine months ended October 26, 1996 compared to approximately 20% for the nine months ended October 28, 1995. The percentage decrease was principally due to the Company controlling costs while sales volume increased. The consolidated effective tax rate for the nine months ended October 26, 1996 was 38.3% compared with 36.7% for the nine months ended October 28, 1995. This increase was due primarily to the absence in fiscal year 1997 of benefits related to tax credits and deferred tax assets that were available in fiscal year 1996. Net income for the nine months ended October 26, 1996 was $15.0 million, or $1.26 per share, compared with $12.5 million, or $1.05 per share, in the prior fiscal year, an increase of 19%. Bookings for the first nine months of fiscal year 1997 were approximately $97.3 million which represents an increase of 7%, or $6.3 million, from the comparable period in the prior year. New orders increased primarily due to the growth of the electronic data processing market during the first quarter, although partially offset by lower bookings in the second and third quarters. The book-to-bill ratio for the nine months ended October 26, 1996 was 1.01 compared to 1.10 in the prior year. FINANCIAL CONDITION - ------------------- Cash and cash equivalents at October 26, 1996 increased by $6.4 million since the beginning of fiscal year 1997. The principal sources of cash were $20.5 million from operating activities and $0.9 million in proceeds from exercises of employee stock options under the Company's Stock Option Plans. The principal uses of cash were $13.8 million in capital expenditures and a $1.5 million investment in the redeemable preferred stock of GMT Microelectronics Corporation, a wafer fabrication foundry in which the Company maintains a minority interest. The ratio of current assets to current liabilities improved to 3.83:1 at October 26, 1996 compared with 2.95:1 at January 31, 1996. Working capital of $56.8 million at October 26, 1996 increased by $9.7 million from January 31, 1996. It is anticipated that the Company's cash needs for fiscal year 1997, including planned capital expenditures, will be met by internally generated funds and available cash. -9- 10 FINANCIAL CONDITION (continued) - ------------------- The Company has begun a new wafer fabrication expansion program which is expected to be completed in various phases over the next several years at a cost of approximately $59 million. The initial phase is currently expected to cost approximately $40 million. Actual timing of expenditures may vary depending on the demand for the Company's products and costs for construction and equipment. In fiscal year 1997, the Company expects to spend a total of approximately $22 million in capital expenditures consisting of $8 million to support ongoing operations and $14 million under the Company's wafer fabrication expansion program. Accounts receivable at October 26, 1996 decreased by $2.0 million from January 31, 1996 to $15.9 million. Receivable day sales outstanding were 49 days at October 26, 1996 compared to 48 days at January 31, 1996. Inventory has increased by $1.8 million since January 31, 1996. Accrued employee compensation and benefits has decreased by $3.7 million since year-end primarily due to incentive compensation benefit payments relating to fiscal year 1996 performance, such as profit sharing awards and management, sales and employee bonuses. The Board of Directors of the Corporation had previously authorized the repurchase of 4,000,000 shares of its common stock of which 3,425,300 shares were repurchased at a cost of $38.4 million, or an average price of $11.22 per share. Effective October 23, 1996, the Board of Directors rescinded the authorization to repurchase the remaining 574,700 shares. NEW ACCOUNTING STANDARDS - ------------------------ See Note 2 in the Company's consolidated financial statements for a discussion of recently issued accounting standards. FORWARD-LOOKING INFORMATION - --------------------------- The Private Securities Litigation Reform Act of 1995 ("the Act") provides a new "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those discussed in the statement. The Company desires to take advantage of the new "safe harbor" provisions of the Act. Certain information contained herein, particularly the information appearing under the headings "Results of Operations" and "Financial Condition" are forward-looking. Information regarding certain important factors that could cause actual results of operations or outcomes of other events to differ materially from any such forward-looking statement appear together with such statement, and/or elsewhere herein. This information should be read in conjunction with the Company's annual report on Form 10-K for the year ended January 31, 1996, particularly the information appearing under the heading "Factors Affecting Future Results" in the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of the report. -10- 11 PART II. OTHER INFORMATION Unitrode Corporation October 26, 1996 Item 1. Legal Proceedings - ------------------------- None. Item 2. Changes in the Rights of the Company's Security Holders - --------------------------------------------------------------- None. Item 3. Defaults upon Senior Securities - --------------------------------------- Not Applicable. Item 4. Submission of Matters to a Vote of Security Holders - ----------------------------------------------------------- None. Item 5. Other Information - ------------------------- None Item 6. Exhibits and Reports on Form 8-K - ---------------------------------------- (a) Exhibits Exhibit 11 - Computation of Primary and Fully Diluted Earnings per Share Exhibit 27 - Financial Data Schedule (b) REPORTS ON FORM 8-K: No reports on Form 8-K were filed by the Registrant during the third quarter of the fiscal year ended January 31, 1997. -11- 12 Unitrode Corporation October 26, 1996 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. UNITRODE CORPORATION December 6, 1996 /s/ Robert L. Gable - -------------------- ------------------------------------- Date Robert L. Gable Chairman, and Chief Executive Officer December 6, 1996 /s/ Cosmo S. Trapani - -------------------- ------------------------------------- Date Cosmo S. Trapani Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer) -12- EX-11 2 COMPUTATION OF EARNINGS PER SHARE 1 Exhibit 11 Unitrode Corporation Computation of Primary and Fully Diluted Earnings per Share
Three months ended October 26, 1996 October 28, 1995 - ----------------------------------------------------------------------------------- Net income $ 4,985,359 $ 4,543,644 =========== =========== Primary earnings per share: - -------------------------- Weighted average of common shares outstanding 11,547,148 11,431,701 Equivalent shares arising from the assumed exercise of stock options 228,171 465,339 ----------- ----------- Weighted average of common and common equivalent shares outstanding 11,775,319 11,897,040 =========== =========== Net income $ .42 $ .38 =========== =========== Fully diluted earnings per share: - -------------------------------- Weighted average of common and common equivalent shares outstanding (as determined for Primary earnings per share above) 11,775,319 11,897,040 Incremental shares to reflect full dilution 49,900(1) 1(1) ----------- ----------- Weighted average of common and common equivalent shares outstanding, as adjusted 11,825,219 11,897,041 =========== =========== Net income $ .42 $ .38 =========== =========== (1) This calculation is submitted in accordance with Regulation S-K item 601(b)(11) although not required by footnote 2 to paragraph 14 of APB Opinion No. 15 because it results in dilution of less than 3%.
2 Exhibit 11 Unitrode Corporation Computation of Primary and Fully Diluted Earnings per Share
Nine months ended October 26, 1996 October 28, 1995 - --------------------------------------------------------------------------------- Net income $14,953,887 $12,516,936 =========== =========== Primary earnings per share: - -------------------------- Weighted average of common shares outstanding 11,511,996 11,511,953 Equivalent shares arising from the assumed exercise of stock options 310,711 408,810 ----------- ----------- Weighted average of common and common equivalent shares outstanding 11,822,707 11,920,763 =========== =========== Net income $ 1.26 $ 1.05 =========== =========== Fully diluted earnings per share: - -------------------------------- Weighted average of common and common equivalent shares outstanding (as determined for Primary earnings per share above) 11,822,707 11,920,763 Incremental shares to reflect full dilution 16,633(1) 35,584(1) ----------- ----------- Weighted average of common and common equivalent shares outstanding, as adjusted 11,839,340 11,956,347 =========== =========== Net income $ 1.26 $ 1.05 =========== =========== (1) This calculation is submitted in accordance with Regulation S-K item 601(b)(11) although not required by footnote 2 to paragraph 14 of APB Opinion No. 15 because it results in dilution of less than 3%.
EX-27 3 FINANCIAL DATA SCHEDULE
5 1 U.S. DOLLARS 9-MOS JAN-31-1997 FEB-01-1996 OCT-26-1996 1 42,658,496 0 16,315,011 368,977 11,786,382 76,890,816 92,678,010 51,757,012 130,046,090 20,089,571 0 2,311,095 0 0 105,719,313 130,046,090 96,303,823 96,303,823 45,347,734 45,347,734 0 0 71,526 24,232,887 9,279,000 14,953,887 0 0 0 14,953,887 1.26 1.26
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