|
Three months ended |
Nine months ended |
||||
|---|---|---|---|---|---|
|
Description |
Sept. 30, 2005 |
June 30, 2005 |
Sept. 30, 2004 |
Sept. 30, 2005 |
Sept. 30, 2004 |
|
(unaudited) |
(unaudited) |
(unaudited) |
(unaudited) |
(unaudited) |
|
|
Revenue |
$53,390 |
$52,396 |
$57,281 |
$157,069 |
$177,291 |
|
Costs and expenses: |
|||||
|
Costs of products sold |
23,398 |
22,862 |
24,848 |
68,431 |
75,799 |
|
Research and development |
22,719 |
24,483 |
23,213 |
71,759 |
68,071 |
|
Selling, general and administrative |
13,558 |
16,433 |
13,630 |
44,324 |
40,786 |
|
Amortization of intangible assets (1)(2) |
3,968 |
4,113 |
5,785 |
12,497 |
41,490 |
|
Total costs and expenses |
63,643 |
67,891 |
67,476 |
197,011 |
226,146 |
|
Loss from operations |
(10,253) |
(15,495) |
(10,195) |
(39,942) |
(48,855) |
|
Other income, net |
3,405 |
7,436 |
3,989 |
14,250 |
10,232 |
|
Loss before provision for |
|||||
|
income taxes |
(6,848) |
(8,059) |
(6,206) |
(25,692) |
(38,623) |
|
Provision for income taxes |
237 |
100 |
118 |
437 |
218 |
|
Net loss |
($7,085) |
($8,159) |
($6,324) |
($26,129) |
($38,841) |
|
Basic net loss per share |
($0.06) |
($0.07) |
($0.06) |
($0.23) |
($0.34) |
|
Diluted net loss per share |
($0.06) |
($0.07) |
($0.06) |
($0.23) |
($0.34) |
|
Shares used in per share calculations: |
|||||
|
Basic |
113,544 |
113,469 |
113,181 |
113,495 |
112,871 |
|
Diluted (3) |
113,544 |
113,469 |
113,181 |
113,495 |
112,871 |
Notes:
(1) Intangible assets subject to amortization aggregate $30.0 million, net, at September 30, 2005 and relate to the acquisition of Cerdelinx Technologies, Inc. on August 26, 2002 and the acquisition of the FPGA business of Agere Systems, Inc. on January 18, 2002. These intangible assets are amortized to expense generally over three to seven years on a straight-line basis.
(2) Includes $0.4 million, $0.6 million and $0.7 million of deferred stock compensation expense for the quarters ended September 30, 2005, June 30, 2005, and September 30, 2004, respectively, attributable to Research and Development activities. Includes $1.6 million and $2.8 million of deferred stock compensation expense for the nine months ended September 30, 2005 and September 30, 2004, respectively, attributable to Research and Development activities.
(3) For all periods presented, the computation of diluted net loss per share excludes the effect of stock options and our Zero Coupon Convertible Subordinated Notes, as they are antidilutive.
|
Description |
September 30, 2005 | December 31, 2004 |
|---|---|---|
|
Assets |
||
|
Current assets: |
||
|
Cash and marketable securities |
$263,773 |
$296,295 |
|
Accounts receivable, net |
26,408 |
19,587 |
|
Inventories |
32,259 |
38,634 |
|
Other current assets |
28,517 |
46,527 |
|
Total current assets |
350,957 |
401,043 |
|
Property and equipment, net |
45,170 |
47,586 |
|
Foundry investments, advances and other assets |
82,780 |
97,877 |
|
Goodwill and other intangible assets, net (1) |
253,539 |
264,400 |
|
$732,446 |
$810,906 |
|
|
Liabilities and Stockholders' Equity |
||
|
Current liabilities: |
||
|
Accounts payable and other accrued |
||
|
liabilities |
$42,794 |
$61,161 |
|
Deferred income on sales to distributors |
12,955 |
11,399 |
|
Total current liabilities |
55,749 |
72,560 |
|
Zero Coupon Convertible Subordinated Notes due in 2010 |
133,500 |
169,000 |
|
Other long-term liabilities |
24,903 |
26,755 |
|
158,403 |
195,755 |
|
|
Stockholders' equity |
518,294 |
542,591 |
|
$732,446 |
$810,906 |
Note: (1) At September 30, 2005, includes approximately $223.6 million in Goodwill and $30.0 million of other intangible assets, net, related to previous acquisitions. The other intangible assets are being amortized to expense generally over three to seven years. Goodwill is not amortized effective with the March 2002 quarter.
© Lattice Semiconductor Corporation 2012
