Consolidated Statements of Operations
     

(In millions, except per share data)
Year ended
December 31,
2000
Seven months ended
December 26,
1999
Year ended
May 30,
1999
May 31,
1998
Revenue:      
   Net sales - trade
$ 1,681.6
$ 714.0
$ 654.1
$ 635.8
   Contract manufacturing
101.6
72.2
81.0
153.4
      Total revenue
1,783.2
786.2
735.1
789.2
Operating expenses:
   Cost of sales - trade
1,078.7
499.9
518.4
441.6
   Cost of contract manufacturing
65.3
51.4
64.4
117.1
   Research and development
83.9
35.0
39.3
35.7
   Selling, general and administrative
224.0
117.4
105.1
92.0
   Purchased in-process research and development
9.0
-
34.0
15.5
   Restructuring and impairments
(5.6)
-
21.3
-
      Total operating expenses
1,455.3
703.7
782.5
701.9
Operating income (loss)
327.9
82.5
(47.4)
87.3
Interest expense
81.3
56.5
72.3
56.5
Interest income
(23.3)
(0.3)
(0.5)
(2.0)
Other (income) expense, net
(0.8)
-
-
-
Income (loss) before income taxes
270.7
26.3
(119.2)
32.8
Provision (benefit) for income taxes
(2.4)
5.0
(5.1)
10.7
Income (loss) before cumulative effect of change in accounting principle
273.1
21.3
(114.1)
22.1
Cumulative effect of change in accounting principle, net of tax effect of $0.8 million
-
-
-
(1.5)
Net income (loss)
$ 273.1
$ 21.3
$ (114.1)
$ 20.6
Net income (loss) applicable to common stockholders
$ 273.1
$ 19.3
$ (123.9)
$ 11.9
Basic earnings (loss) per common share:
   Income (loss) before cumulative effect of change in accounting principle
$ 2.80
$ 0.24
$ (1.97)
$ 0.21
   Cumulative effect of change in accounting principle
-
-
-
(0.02)
 
$ 2.80
$ 0.24
$ (1.97)
$ 0.19
Diluted earnings (loss) per common share:
   Income (loss) before cumulative effect of change in accounting principle
$ 2.69
$ 0.23
$ (1.97)
$ 0.20
   Cumulative effect of change in accounting principle
-
-
-
(0.02)
 
$ 2.69
$ 0.23
$ (1.97)
$ 0.18
Weighted average common shares:
   Basic
97.5
80.0
62.9
62.8
   Diluted
101.4
83.7
62.9
65.0
See accompanying notes to consolidated financial statements.