Atmel Reports Fourth Quarter and Full Year 2015 Financial Results

Investor Contact: 
Peter Schuman
Senior Director, Investor Relations
(408) 437-2026 

 

ATMEL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except for per share data)

(Unaudited)






















Three Months Ended


Twelve Months Ended


December 31,


September 30,


December 31,


December 31,


December 31,


2015


2015


2014


2015


2014











Net revenue

$         261,282


$           286,533


$         345,954


$       1,172,456


$      1,413,334











Operating expenses










Cost of revenue

140,222


153,177


205,395


629,429


794,704

Research and development

55,253


55,832


64,817


230,212


274,568

Selling, general and administrative

59,747


64,817


67,845


246,559


262,031

Acquisition-related charges 

1,926


2,390


3,480


12,526


13,767

Restructuring (credits) charges 

(850)


(584)


14,849


4,595


13,882

Recovery of receivables from foundry supplier

-


-


(485)


-


(485)

Loss (gain) on sale of assets

-


427


(4,364)


(1,626)


(4,364)

Total operating expenses

256,298


276,059


351,537


1,121,695


1,354,103

Income (loss) from operations

4,984


10,474


(5,583)


50,761


59,231

Interest and other income (expense), net

2,617


55


3,851


7,534


(2,005)

Income (loss) before income taxes

7,601


10,529


(1,732)


58,295


57,226

Provision for income taxes

(2,867)


(11,134)


(1,712)


(31,393)


(22,018)

Net income (loss) 

4,734


(605)


(3,444)


26,902


35,208

Less: net income attributable to noncontrolling interest

(36)


(9)


(3,013)


(11)


(3,013)

Net income (loss) attributable to Atmel 

$              4,698


$                 (614)


$            (6,457)


$             26,891


$            32,195











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










Net income (loss) per share

$                0.01


$                       -


$              (0.02)


$                 0.06


$                0.08

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

420,798


419,293


417,797


418,759


419,103

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










Net income (loss) per share

$                0.01


$                       -


$              (0.02)


$                 0.06


$                0.08

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

422,239


419,293


417,797


420,287


420,910

Cash dividends declared and paid per share

$                     -


$                  0.04


$                     -


$                 0.12


$                     -


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