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NOTE 19 - UNAUDITED QUARTERLY FINANCIAL INFORMATION
The following is a summary of unaudited quarterly financial
information for Calendar 2000, Stub Year 1999 and Fiscal 1999 (in millions,
except per share amounts):
| |
Calendar 2000
|
|
 |
| |
First
|
Second
|
Third
|
Fourth
|
|
| Total revenue |
$ 401.7
|
$ 436.7
|
$ 476.0
|
$ 468.8
|
| Gross profit |
137.2
|
160.6
|
173.7
|
167.7
|
| Net income(a)(b) |
50.0
|
59.7
|
69.7
|
93.7
|
| Net income applicable to common stockholders(a)(b) |
50.0
|
59.7
|
69.7
|
93.7
|
| Basic earnings per common share |
$ 0.53
|
$ 0.61
|
$ 0.70
|
$ 0.94
|
| Diluted earnings per common share |
$ 0.51
|
$ 0.59
|
$ 0.68
|
$ 0.92
|
| |
|
|
| |
Stub Year 1999
|
|
|
|
|
| |
First
|
Second
|
Third(f)
|
|
|
| Total revenue |
$ 324.5
|
$ 356.8
|
$ 104.9
|
|
| Gross profit |
95.5
|
113.3
|
26.1
|
|
| Net income (loss)(c) |
(8.0)
|
22.5
|
6.8
|
|
| Net income (loss) applicable to common stockholders(c) |
(10.0)
|
22.5
|
6.8
|
|
| Basic earnings (loss) per common share |
$ (0.15)
|
$ 0.25
|
$ 0.08
|
|
| Diluted earnings (loss) per common share |
$ (0.15)
|
$ 0.24
|
$ 0.07
|
|
| |
|
| |
Fiscal 1999
|
|
|
| |
First
|
Second
|
Third
|
Fourth
|
|
| Total revenue(e) |
$ 151.3
|
$ 167.9
|
$ 169.4
|
$ 246.5
|
| Gross profit(c) |
36.7
|
35.6
|
41.0
|
45.3
|
| Net loss(d)(e) |
(16.2)
|
(9.9)
|
(11.1)
|
(76.9)
|
| Net loss applicable to common stockholders(d)(e) |
(18.5)
|
(12.3)
|
(13.6)
|
(79.5)
|
| Basic loss per common share |
$ (0.29)
|
$ (0.20)
|
$ (0.22)
|
$ (1.26)
|
| Diluted loss per |
|
|
|
|
| common share |
$ (0.29)
|
$ (0.20)
|
$ (0.22)
|
$ (1.26)
|
| Note: Amounts may not add due to rounding
|
|
(a)
|
In the second and third quarters of Calendar
2000, the Company recorded a gain of $11.0 million for the adjustment
of reserves related to the restructuring of its memory product lines
and additional proceeds from the sale of the Mountain View, California
facility and charges of $9.0 million for purchased in-process research
and development and $3.6 million for the write-off of deferred financing
fees. |
|
(b)
|
In the fourth quarter of Calendar 2000,
the Company recorded a gain of $26.3 million for the reduction of
deferred tax valuation allowances. |
|
(c)
|
During the first quarter of Stub Year 1999,
the Company recorded a charge of $8.3 million for the forgiveness
of certain loans made to the Company's management investors for payment
of individual income tax liabilities resulting from their ownership
of Fairchild International's common stock. (See Note
10.) |
|
(d)
|
During the first, third and fourth quarters
of Fiscal 1999, the Company recorded charges of $4.5 million, $2.7
million and $48.1 million, respectively, for restructuring charges
and purchased in-process research and development. (See Notes
11 and 16.) |
|
(e)
|
In the fourth quarter of Fiscal 1999, the
Company recorded charges to write-off inventories ($9.9 million) and
to increase sales reserves ($5.5 million) in connection with the Memory
Division product line restructuring plan. (See Note
11.) |
|
(f)
|
The third quarter represents the period
beginning November 29, 1999 and ending December 26, 1999. |
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