| CONDENSED CONSOLIDATED STATEMENTS OF INCOME
|
|
|
|
| Year ended December 31 (In thousands except per share data) |
|
1998 |
|
|
1997 |
|
|
1996 |
|
|
| Net sales |
$ |
699,307 |
|
$ |
758,919 |
|
$ |
618,735 |
|
| Cost of sales |
|
364,467 |
|
|
342,237 |
|
|
249,443 |
|
|
| Gross profit |
|
334,840 |
|
|
416,682 |
|
|
369,292 |
|
| Selling, general and administrative expenses |
|
236,521 |
|
|
245,585 |
|
|
202,140 |
|
| Research and development expenses |
|
53,578 |
|
|
55,899 |
|
|
38,429 |
|
| Purchased research and development expense |
|
- |
|
|
114,091 |
|
|
68,311 |
|
| Restructuring charges |
|
33,641 |
|
|
- |
|
|
- |
|
| Settlement of litigation |
|
11,766 |
|
|
- |
|
|
- |
|
|
| Operating (loss) income |
|
( 666 |
) |
|
1,107 |
|
|
60,412 |
|
| Gain on sale of equity securities |
|
35,594 |
|
|
8,330 |
|
|
5,329 |
|
| Interest income |
|
3,090 |
|
|
2,937 |
|
|
2,780 |
|
| Interest expense |
|
( 29,474 |
) |
|
( 30,484 |
) |
|
( 11,498 |
) |
|
| Income (loss) from continuing operations before income taxes |
|
8,544 |
|
|
( 18,110 |
) |
|
57,023 |
|
| (Benefit) provision for income taxes |
|
( 1,320 |
) |
|
20,674 |
|
|
13,401 |
|
|
| Net income (loss) from continuing operations |
|
9,864 |
|
|
( 38,784 |
) |
|
43,622 |
|
| Net loss on disposal of discontinued operations |
|
5,847 |
|
|
- |
|
|
- |
|
|
| Net income (loss) |
$ |
4,017 |
|
$ |
( 38,784 |
) |
$ |
43,622 |
|
|
| Basic net income (loss) per share |
|
|
|
|
|
|
|
|
|
| Income (loss) from continuing operations |
$ |
0.22 |
|
$ |
( 0.89 |
) |
$ |
1.00 |
|
| Net income (loss) per share |
$ |
0.09 |
|
$ |
(0.89 |
) |
$ |
1.00 |
|
| Diluted net income (loss) per share |
|
|
|
|
|
|
|
|
|
| Income (loss) from continuing operations |
$ |
0.22 |
|
$ |
( 0.89 |
) |
$ |
0.98 |
|
| Net income (loss) per share |
$ |
0.09 |
|
$ |
( 0.89 |
) |
$ |
0.98 |
|
| Weighted average shares outstanding |
|
|
|
|
|
|
|
|
|
| Basic |
|
43,864 |
|
|
43,527 |
|
|
43,602 |
|
| Diluted |
|
44,289 |
|
|
43,527 |
|
|
44,457 |
|
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