Atmel Reports First Quarter 2015 Financial Results

 


ATMEL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except for per share data)

(Unaudited)














Three Months Ended


March 31,


December 31,


March 31,


2015


2014


2014







Net revenue

$  318,288


$         345,954


$  337,361







Operating expenses






Cost of revenue

170,991


205,395


197,371

Research and development

59,129


64,817


69,752

Selling, general and administrative

62,073


67,845


64,079

Acquisition-related charges 

4,403


3,480


1,628

Restructuring charges (credits)

1,147


14,849


(224)

Recovery of receivables from foundry suppliers

-


(485)


-

Gain on sale of assets

-


(4,364)


-

Total operating expenses

297,743


351,537


332,606

Income (loss) from operations

20,545


(5,583)


4,755

Interest and other income, net

3,700


3,851


77

Income (loss) before income taxes

24,245


(1,732)


4,832

Provision for income taxes

(7,699)


(1,712)


(2,666)

Net income (loss)

16,546


(3,444)


2,166

Less: net income attributable to noncontrolling interest

(51)


(3,013)


-

Net income (loss) attributable to Atmel Corporation

$    16,495


$            (6,457)


$      2,166







Basic net income (loss) per share attributable to Atmel Corporation:






Net income (loss) per share

$         0.04


$              (0.02)


$         0.01

Weighted-average shares used in basic net income (loss) per share calculations

417,038


417,797


425,390

Diluted net income (loss) per share attributable to Atmel Corporation:






Net income (loss) per share

$         0.04


$              (0.02)


$         0.01

Weighted-average shares used in diluted net income (loss) per share calculations

418,462


417,797


427,276

Cash dividends declared and paid per share

$         0.04


$                     -


$             -


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