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Altera 2008第一季度财务报表

助工
2008-06-03 10:05:09     打赏
          ALTERA CORPORATION
             CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                (In thousands, except per share data)
                             (Unaudited)

                                              THREE MONTHS ENDED
                                         -----------------------------
                                         March 28   Dec. 28  March 30
                                           2008      2007      2007
                                         --------- --------- ---------

Net sales                               $336,071  $323,167  $304,916
Cost of sales (2)                        117,250   116,051   104,512
                                         --------- --------- ---------

Gross margin                             218,821   207,116   200,404
                                         --------- --------- ---------

Operating expenses (1) & (2)
    Research and development               58,261    72,705    58,455
    Selling, general, and administrative   61,037    69,280    71,784
                                         --------- --------- ---------
Total operating expenses                 119,298   141,985   130,239
                                         --------- --------- ---------

Income from operations (Operating
  Margin)                                  99,523    65,131    70,165
Interest and other income (2)              4,122    12,831    17,212
Interest expense                          (3,137)   (1,434)      (99)
                                         --------- --------- ---------

Income before income taxes               100,508    76,528    87,278
Provision for income taxes                16,584    11,051    12,219
                                         --------- --------- ---------

Net income                              $ 83,924  $ 65,477  $ 75,059
                                         ========= ========= =========

Net income per share:
    Basic                                $   0.27  $   0.20  $   0.21
                                         ========= ========= =========
    Diluted                              $   0.27  $   0.20  $   0.21
                                         ========= ========= =========

Shares used in computing per share
  amounts:
    Basic                                 307,418   328,084   357,594
                                         ========= ========= =========
    Diluted                               310,010   331,807   363,648
                                         ========= ========= =========

Cash dividends per common share         $   0.04  $   0.04  $      -
                                         ========= ========= =========

Tax rate                                    16.5%     14.4%     14.0%
% of Net sales:
      Gross margin                           65.1%     64.1%     65.7%
      Research and development               17.3%     22.5%     19.2%
      Selling, general, and
       administrative                        18.2%     21.4%     23.5%
      Income from operations (Operating
       Margin)                               29.6%     20.2%     23.0%
      Net income                             25.0%     20.3%     24.6%

Notes:
----------------------------------------
(1)  Includes restructuring expenses as
       follows:

      Research and development           $      -  $  1,767  $      -
      Selling, general, and
       administrative                    $      -  $  3,472  $      -
                                         --------- --------- ---------
      Total                              $      -  $  5,239  $      -
                                         ========= ========= =========

(2)  Includes benefit in R&D, SG&A & COGS of $2.9 million, $2.1
       million and $0.1 million respectively for losses related to the
       company's non-qualified deferred compensation plan, which was
       fully offset by charges in interest and other income
ALTERA CORPORATION
                CONDENSED CONSOLIDATED BALANCE SHEETS
                            (In thousands)
                             (Unaudited)

                                                 March 28     Dec. 28
                                                   2008        2007
                                                ----------  ----------

 Assets

 Current assets:
   Cash and short-term investments              $  994,632  $1,021,379
   Accounts receivable, net                        231,370     198,889
   Inventories                                      71,013      74,110
   Deferred compensation plan assets                67,828      74,768
   Deferred income taxes and other current
    assets                                         148,136     164,942
                                                ----------  ----------
 Total current assets                            1,512,979   1,534,088
 Property and equipment, net                       165,558     169,850
 Deferred income taxes and other assets, net        71,767      65,980
                                                ----------  ----------
                                                $1,750,304  $1,769,918
                                                ==========  ==========

 Liabilities and Stockholders' Equity

 Current liabilities:
   Accounts payable and current liabilities     $  134,262  $  134,450
   Deferred compensation plan obligations           67,828      74,768
   Deferred income and allowances on sales to
    distributors                                   349,228     280,440
                                                ----------  ----------
 Total current liabilities                         551,318     489,658
 Income taxes payable non-current                  159,093     152,010
 Long-term credit facility                         350,000     250,000
 Other non-current liabilities                      17,151      16,800
 Stockholders' equity                              672,742     861,450
                                                ----------  ----------
                                                $1,750,304  $1,769,918
                                                ==========  ==========


 Key Ratios & Information

 Current Assets/Current Liabilities                    3:1         3:1
 Liabilities/Equity                                    2:1         1:1
 TTM Return on Equity                                  26%         21%
 Quarterly Depreciation Expense                 $    8,005  $    7,693
 Quarterly Capital Expenditures                 $    3,713  $    9,545
 Annualized Net Sales per Employee              $      509  $      473
 Number of Employees                                 2,632       2,651
 Inventory MSOH (a): Altera                            1.8         1.9
 Inventory MSOH (a): Distribution                      1.2         1.1
 Days Sales Outstanding                                 63          56

 (a) MSOH: Months Supply On Hand
ALTERA CORPORATION
                           REVENUE SUMMARY
                             (Unaudited)


                                                         Q-Q     Y-Y
                                     Q1'08 Q4'07 Q1'07 Growth  Growth
                                     ----- ----- ----- ------- -------
Geography
---------------------------------
North America                          23%   24%   22%      0%     15%
                                     ----- ----- -----
Asia Pacific                           32%   34%   33%     -2%      8%
Europe                                 23%   23%   25%      8%      1%
Japan                                  22%   19%   20%     15%     19%
                                     ----- ----- -----
International                          77%   76%   78%      5%      9%
                                     ----- ----- -----
Total                                 100%  100%  100%      4%     10%
                                     ===== ===== =====


Product Category
---------------------------------
New                                    40%   37%   25%     14%     77%
Mainstream                             27%   27%   32%      2%     -8%
Mature & Other                         33%   36%   43%     -5%    -15%
                                     ----- ----- -----
Total                                 100%  100%  100%      4%     10%
                                     ===== ===== =====


Market Segment
---------------------------------
Communications                         41%   41%   39%      4%     14%
Industrial                             35%   34%   37%      8%      5%
Consumer                               15%   16%   15%     -2%     14%
Computer & Storage                      9%    9%    9%      0%     12%
                                     ----- ----- -----
Total                                 100%  100%  100%      4%     10%
                                     ===== ===== =====


FPGAs and CPLDs
---------------------------------
FPGA                                   72%   71%   72%      6%     12%
CPLD                                   19%   19%   19%      6%     10%
Other                                   9%   10%    9%    -11%      0%
                                     ----- ----- -----
Total                                 100%  100%  100%      4%     10%
                                     ===== ===== =====



Product Category Description
---------------------------------
 Category                         Products
 New                              Stratix II, Stratix III, Stratix II
                                   GX, Arria GX, Cyclone II, Cyclone
                                   III, MAX II, HardCopy and HardCopy
                                   II
 Mainstream                       Stratix, Stratix GX, Cyclone, and
                                   MAX 3000A
 Mature & Other                   Classic, MAX 7000, MAX 7000A, MAX
                                   7000B, MAX 7000S, MAX 9000, FLEX
                                   series, APEX series, ACEX 1K,
                                   Mercury, Excalibur, configuration
                                   and other devices, intellectual
                                   property cores, and software and
                                   other tools



关键词: Altera     第一季度     财务     报表     -------    

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