Consolidated Statements


Consolidated Balance Sheets


March 31,

In thousands except per share amounts 1997 1996
ASSETS
Current assets:
  Cash and cash equivalents $215,903 $110,893
  Short-term investments 209,944 267,068
Accounts receivable, net of allowance for doubtful accounts and customer returns of $5,734 and $5,199 in 1997 and 1996, respectively 72,248 79,528
  Inventories 62,367 39,238
  Deferred income taxes 36,420 28,146
  Advances for wafer purchases -- 9,034
  Other current assets 4,799 4,673
      Total current assets 601,555 538,706
Property, plant and equipment at cost:
  Land 3,111 2,426
  Building 26,840 18,029
  Machinery and equipment 114,525 95,463
  Furniture and fixtures 9,967 7,457
  Construction in progress -- 4,908
154,443 128,283
  Accumulated depreciation and amortization (67,863) (45,645)
Net property, plant and equipment 86,580 82,638
Restricted investments 36,257 36,212
Investment in joint venture 35,286 34,316
Advances for wafer purchases 60,000 --
Other assets 28,015 29,008
$847,693 $720,880
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable $ 16,758 $ 30,673
  Accrued payroll and payroll related liabilities 13,769 9,526
  Interest payable 5,364 5,012
  Income tax payable 10,858 5,175
  Deferred income on shipments to distributors 36,355 37,568
  Other accrued liabilities 14,149 14,682
Total current liabilities 97,253 102,636
Long-term debt 250,000 250,000
Deferred tax liabilities 9,760 --
Commitments and contingencies
Stockholders' equity:
  Preferred Stock, $.01 par value; 2,000 shares authorized; none issued and outstanding -- --
Common Stock, $.01 par value; 200,000 shares authorized; 73,383 and 71,933 shares issued;
  73,342 and 71,933 shares outstanding at March 31, 1997 and 1996, respectively 733 719
  Additional paid-in capital 114,447 99,588
  Retained earnings 377,881 267,505
  Unrealized gain on available-for-sale securities, net of tax 83 432
  Treasury Stock, at cost (1,847) --
Cumulative translation adjustment (617) --
Total stockholders' equity 490,680 368,244
$847,693 $720,880
See accompanying notes.

| Statements of Income | Balance Sheets |
| Statement of Cash Flows | Statement of Stockholders' Equity |

| Annual Report 1997 |
| Letter to Shareholders | Financial Highlights | MD&A | Consolidated Statements |
| Notes to Consolidated Statements | Selected Consolidated Information |