EX-99.1 3 p15456_ex991.txt CONDENSED STATEMENTS OF OPERATIONS EXHIBIT 99.1 CALIFORNIA MICRO DEVICES CORPORATION Condensed Statements of Operations (Amounts in thousands, except per share data) (Unaudited)
Three Months Ended Year Ended March 31, March 31, ----------------------------------------------------------------------- 2002 2001 2002 2001 --------------- ---------------- ---------------- --------------------- Net sales $ 8,156 $ 12,039 $ 29,944 $ 57,534 Costs and expenses: Cost of sales 9,833 9,965 38,153 39,366 Research and development 966 803 3,884 3,405 Selling, marketing and administrative 3,468 2,670 11,521 11,364 Special charges - - 4,155 - ---------------- --------------- ----------------- -------------------- Total costs and expenses 14,267 13,438 57,713 54,135 ---------------- --------------- ----------------- -------------------- Operating income (loss) (6,111) (1,399) (27,769) 3,399 Other expense, net 235 98 836 811 ---------------- --------------- ----------------- -------------------- Income (loss) before income taxes (6,346) (1,497) (28,605) 2,588 Income taxes - (31) - 52 ---------------- --------------- ----------------- -------------------- Net income (loss) $ (6,346) $ (1,466) $ (28,605) $ 2,536 ================ =============== ================= ==================== Net income (loss) per share - basic $ (0.46) $ (0.13) $ (2.33) $ 0.23 ================ =============== ================= ==================== Net income (loss) per share - diluted $ (0.46) $ (0.13) $ (2.33) $ 0.20 ================ =============== ================= ==================== Weighted average common shares outstanding - basic 13,777 11,383 12,272 11,243 ================ =============== ================= ==================== Weighted average common shares outstanding - diluted 13,777 11,383 12,272 12,384 ================ =============== ================= ====================
CALIFORNIA MICRO DEVICES CORPORATION Condensed Balance Sheets (Amounts in thousands, except share data)
March 31, March 31, 2002 2001 ----------------- ------------------ ASSETS: Current assets: Cash and short-term securities $ 7,240 $ 6,597 Accounts receivable, less allowance for doubtful accounts of $161 and $279 4,561 8,068 Inventories 2,784 11,716 Other assets 679 1,451 ----------------- ------------------ Total current assets 15,264 27,832 Property, plant and equipment, net 10,853 14,372 Restricted cash 888 914 Other long-term assets 1,232 1,151 ----------------- ------------------ Total assets $ 28,237 $ 44,269 ================= ================== LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 5,085 $ 3,471 Accrued salaries and benefits 1,224 1,135 Other accrued liabilities 3,121 657 Deferred margin on shipments to distributors 1,193 772 Current maturities of long-term debt and capital lease obligations 2,256 1,594 ----------------- ------------------ Total current liabilities 12,879 7,629 Long-term debt, less current maturities 7,069 8,947 Other long-term liabilities 509 533 ----------------- ------------------ Total liabilities 20,457 17,109 ----------------- ------------------ Shareholders' equity Common stock - no par value; authorized 25,000,000; 67,732 58,509 issued and outstanding 13,850,765 shares Accumulated other comprehensive income (loss) 2 - Accumulated deficit (59,954) (31,349) ----------------- ------------------ Total shareholders' equity 7,780 27,160 ----------------- ------------------ Total liabilities and shareholders' equity $ 28,237 $ 44,269 ================= ==================