Linear Technology Reports Record Quarterly Revenues and Continues to Guide for Strong Sales Growth in the Fourth Quarter

For further information contact Paul Coghlan at Linear Technology Corporation, 1630 McCarthy Blvd., Milpitas, California 95035-7417, (408) 432-1900.

LINEAR TECHNOLOGY CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share amounts)

GAAP (unaudited)

         
Three Months Ended Nine Months Ended
Mar. 28,     Dec. 27,     Mar. 29, Mar. 28,     Mar. 29,
  2010     2009   2009*   2010   2009*
Revenues $ 311,324 $ 256,364 $ 200,933 $ 803,823 $ 760,480
Cost of sales (1)   68,801     61,621     52,662     190,005     184,412  
Gross profit   242,523     194,743     148,271     613,818     576,068  
 
Expenses:
Research & development (1) 51,885 46,682 44,724 143,907 141,377
Selling, general & administrative (1) 36,710 32,459 30,430 100,828 100,110
Restructuring   -     -     -     -     1,564  
  88,595     79,141     75,154     244,735     243,051  
Operating income 153,928 115,602 73,117 369,083 333,017
Interest expense (11,701 ) (11,617 ) (12,529 ) (35,210 ) (40,182 )
Amortization of debt discount (2) (7,399 ) (7,296 ) (7,424 ) (21,924 ) (23,482 )
Interest income 2,996 3,358 5,397 10,210 18,484
Gain on early retirement of convertible
senior notes   -     -     1,015     -     15,659  
 
Income before income taxes 137,824 100,047 59,576 322,159 303,496
Provision for income taxes   37,212     24,511     10,274     85,324     65,647  
 
Net income $ 100,612   $ 75,536   $ 49,302   $ 236,835   $ 237,849  
 
Earnings per share:
Basic $ 0.44   $ 0.33   $ 0.22   $ 1.04   $ 1.05  
Diluted $ 0.44   $ 0.33   $ 0.22   $ 1.04   $ 1.05  
 
Shares used in the calculation of earnings per share:
Basic   227,764     227,265     226,523     227,363     226,174  
Diluted   229,024     228,366     226,527     228,449     227,151  
 
Includes the following non-cash charges:
(1) Stock-based compensation
Cost of sales $ 2,292 $ 2,220 $ 2,288 $ 6,807 $ 6,107
Research & development 9,871 9,521 9,541 29,111 25,763
Sales, general & administrative 5,479 5,301 5,444 16,255 14,541

(2) Amortization of debt discount (non-cash interest expense)

7,399 7,296 7,424 21,924 23,482
 

* As adjusted for the adoption of FSP APB14-1 and EITF 03-6-1.



« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »



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
AE-APPS SUPPORT/TMM for EDA Careers at San Jose-SOCAL-AZ, CA
Manager, Field Applications Engineering for Real Intent at Sunnyvale, CA
ACCOUNT MANAGER MUNICH GERMANY EU for EDA Careers at MUNICH, Germany
Development Engineer-WEB SKILLS +++ for EDA Careers at North Valley, CA
FAE FIELD APPLICATIONS SAN DIEGO for EDA Careers at San Diego, CA
Upcoming Events
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