AMIS Holdings, Inc. Reports Second Quarter 2006 Financial Results; Revenue Increased 9% Sequentially, Surpassing $150 Million for the First Time; Six Month Backlog Increased 9% Sequentially to a Record $184 Million

                         AMIS Holdings, Inc.
                Condensed Consolidated Balance Sheets
                            (In Millions)

                                               July 1,    December 31,
                                                2006         2005
                                             (unaudited)
                                             ------------ ------------
Assets
------
Current assets:
    Cash and cash equivalents                     $108.5        $96.7
    Accounts receivable, net                       110.2         99.9
    Inventories                                     76.0         64.3
    Deferred tax assets                              3.5          4.5
    Prepaid expenses and other current assets       28.8         31.7
                                             ------------ ------------
Total current assets                               327.0        297.1

Property, plant and equipment, net                 203.5        203.8
Goodwill, net                                       85.0         72.6
Other intangibles, net                              88.5         92.5
Deferred tax assets                                 54.4         50.3
Other long-term assets                              20.0         23.4
                                             ------------ ------------

Total assets                                      $778.4       $739.7
                                             ============ ============

Liabilities and Stockholders' Equity
Current liabilities:
    Current portion of long-term debt               $3.2         $3.2
    Accounts payable                                45.0         48.8
    Accrued expenses                                60.9         62.7
    Foreign deferred tax liability                   1.9          2.7
    Income taxes payable                             1.3          0.7
                                             ------------ ------------
Total current liabilities                          112.3        118.1

Long-term debt, less current portion               313.1        314.7
Other long-term liabilities                          5.6          8.2
                                             ------------ ------------
Total liabilities                                  431.0        441.0

Stockholder's equity:
Common stock                                         0.9          0.9
Additional paid-in capital                         548.3        534.4
Accumulated deficit                               (233.5)      (250.0)
Deferred stock-based compensation                      -                 (0.2)
Accumulated  other  comprehensive  income                            31.7                  13.6
                                                                                          ------------  ------------
Total  stockholders'  equity                                                  347.4                298.7

Total  liabilities  and  stockholders'  equity                $778.4              $739.7
                                                                                          ============  ============

                                                  AMIS  Holdings,  Inc.
                      Condensed  Consolidated  Statements  of  Cash  Flows
                                                        (In  Millions)

                                                                                                  Six  Months  Ended:
                                                                                            ------------------------
                                                                                                July  1,            July  2,
                                                                                                  2006                  2005
                                                                                            (unaudited)    (unaudited)
                                                                                            ------------  -----------

Cash  flows  from  operating  activities
Net  income                                                                                  $16.5                  $0.2
  Adjustments  to  reconcile  net  income  to  net
    cash  provided  by  (used  in):
      Depreciation  and  amortization                                        33.0                  24.0
      Amortization  of  deferred  financing  costs                    0.4                    0.5
      Stock-based  compensation  expense                                    3.9                    0.2
      Write-off  of  deferred  financing  costs                              -                    6.7
      Benefit  from  deferred  income  taxes                              (2.2)              (10.3)
      Loss  on  disposition  of  property,  plant  and
        equipment                                                                                0.1                        -
      Noncash  impact  of  change  in  value  of
        derivative                                                                            (0.7)                      -
      Changes  in  operating  assets  and
        liabilities:
                Accounts  receivable                                                  (6.7)                (3.5)
                Inventories                                                                  (8.8)                (4.4)
                Prepaid  expenses  and  other  assets                        1.5                  (2.1)
                Accounts  payable  and  other  accrued
                  expenses                                                                      (9.7)              (19.6)
                                                                                            -----------    -----------
Net  cash  provided  by  (used  in)  operating
  activities                                                                                  27.3                  (8.3)
Cash  flows  from  investing  activities
  Purchases  of  property,  plant  and  equipment                (17.6)              (14.1)
  Deposit  on  pending  purchase  of  a  business                          -                  (5.0)
  Change  in  restricted  cash                                                          -                  (1.4)
  Change  in  other  assets                                                          (2.0)                (5.0)
                                                                                            -----------    -----------
Net  cash  used  in  investing  activities                            (19.6)              (25.5)
Cash  flows  from  financing  activities
  Payments  on  long-term  debt                                                  (1.6)            (254.0)
  Proceeds  from  bank  borrowings                                                  -                210.0
  Debt  issuance  costs                                                                (0.1)                      -
  Deferred  financing  costs                                                            -                  (2.9)
          Proceeds  from  derivative                                                0.6                        -
  Proceeds  from  exercise  of  stock  options                          1.4                    2.1
                                                                                            -----------    -----------
Net  cash  provided  by  (used  in)  financing
  activities                                                                                    0.3                (44.8)

Effect  of  exchange  rate  changes  on  cash  and
  cash  equivalents                                                                        3.8                  (7.3)
                                                                                            -----------    -----------
Net  increase  (decrease)  in  cash  and  cash
  equivalents                                                                                11.8                (85.9)
Cash  and  cash  equivalents  at  beginning  of
  period                                                                                          96.7                161.7
                                                                                            -----------    -----------
Cash  and  cash  equivalents  at  end  of  period                $108.5                $75.8
                                                                                            ===========    ===========
 





Review Article Be the first to review this article

EMA:

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Retail Therapy: Jump starting Black Friday
Peggy AycinenaIP Showcase
by Peggy Aycinena
REUSE 2016: Addressing the Four Freedoms
More Editorial  
Jobs
Principal Circuit Design Engineer for Rambus at Sunnyvale, CA
FAE FIELD APPLICATIONS SAN DIEGO for EDA Careers at San Diego, CA
Development Engineer-WEB SKILLS +++ for EDA Careers at North Valley, CA
Manager, Field Applications Engineering for Real Intent at Sunnyvale, CA
AE-APPS SUPPORT/TMM for EDA Careers at San Jose-SOCAL-AZ, CA
ACCOUNT MANAGER MUNICH GERMANY EU for EDA Careers at MUNICH, Germany
Upcoming Events
2016 IEEE International Electron Devices Meeting at Hilton San Francisco Union Square 333 O’Farrell Street San Francisco CA - Dec 3 - 7, 2016
Zuken Innovation World 2017, April 24 - 26, 2017, Hilton Head Marriott Resort & Spa in Hilton Head Island, SC at Hilton Head Marriott Resort & Spa Hilton Head Island NC - Apr 24 - 26, 2017
CST Webinar Series



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy