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Item 6. Selected Financial Data
The following selected financial data for each year of the five-year period ended September 30, 2012, has been derived from the audited consolidated financial statements. The information set forth below is not necessarily indicative of results of future operations and should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and the consolidated financial statements and notes to those statements included in Items 7 and 8 of Part II of this Form 10-K, as well as Risk Factors included in Item 1A of Part I of this Form 10-K.
CABOT MICROELECTRONICS CORPORATION
SELECTED FINANCIAL DATA—FIVE YEAR SUMMARY
(Amounts in thousands, except per share amounts)
Year Ended September 30, 2012* Consolidated Statement of Income Data: Revenue Cost of goods sold Gross profit Operating expenses: Research, development and technical Selling and marketing General and administrative Purchased in-process research and development Total operating expenses Operating income Interest expense Other income (expense), net Income before income taxes Provision for income taxes Net income Basic earnings per share Weighted average basic shares outstanding Diluted earnings per share Weighted average diluted shares outstanding Cash dividends per share $ $ $ $ 427,657 223,630 204,027 58,642 29,516 49,345 — 137,503 66,524 2,309 (1,344) 62,871 22,045 $ 40,826 1.81 22,506 1.75 23,280 15.00 $ $ $ 2011 $ 445,442 231,336 214,106 58,035 29,758 45,928 — 133,721 80,385 155 (1,318) 78,912 27,250 $ 51,662 2.26 22,896 2.20 23,435 — $ $ $ 2010 $ 408,201 204,704 203,497 51,818 26,885 50,783 — 129,486 74,011 233 (501) 73,277 23,819 $ 49,458 2.14 23,084 2.13 23,273 — $ $ $ 2009 $ 291,372 162,918 128,454 48,150 22,239 40,632 1,410 112,431 16,023 365 964 16,622 5,435 $ 11,187 0.48 23,079 0.48 23,096 — $ $ $ 2008 $ 375,069 200,596 174,473 49,155 28,281 47,595 — 125,031 49,442 395 5,843 54,890 16,552 $ 38,338 1.64 23,315 1.64 23,348 —
As of September 30, 2012* Consolidated Balance Sheet Data: Current assets Property, plant and equipment, net Other assets Total assets Current liabilities Long-term debt Other long-term liabilities Total liabilities Stockholders’ equity Total liabilities and stockholders’ equity $ 317,888 125,020 74,917 $ 517,825 $ 63,219 161,875 9,140 234,234 283,591 $ 517,825 2011 $ 430,405 130,791 67,033 $ 628,229 $ 55,550 — 6,325 61,875 566,354 $ 628,229 2010 $ 381,029 115,811 74,916 $ 571,756 $ 53,330 — 4,083 57,413 514,343 $ 571,756 2009 $ 316,852 122,782 75,510 $ 515,144 $ 39,536 — 4,879 44,415 470,729 $ 515,144 2008 $ 330,592 115,843 31,002 $ 477,437 $ 37,801 — 5,403 43,204 434,233 $ 477,437
*In fiscal 2012, in conjunction with a new capital management initiative, we completed a leveraged recapitalization and paid a special cash dividend of $15.00 per share, or $347.1 million in the aggregate. The dividend was funded with a $175.0 million term loan and $172.1 million of existing Company cash balances.
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