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Previous: TELLABS INC, 8-K, 1999-12-17 |
Next: FIRST TRUST OF INSURED MUNICIPAL BONDS SERIES 55, 24F-2NT, 1999-12-17 |
Restated Condensed Consolidated Statements of Earnings - 1999
(In thousands, except per-share data) |
Quarter 1 |
Quarter 2 |
Quarter 3 |
9 Mos. Ended 10/1/99 |
| Net Sales | 469,651 | 540,400 | 594,505 | 1,604,556 |
| Cost of sales |
194,134 |
211,055 |
243,657 |
648,846 |
| Gross Profit | 275,517 | 329,345 | 350,848 | 955,710 |
| Operating Expenses | ||||
| Marketing, general & administrative expense | 67,511 | 82,102 | 75,522 | 225,135 |
| Research and development expense | 63,527 | 72,086 | 76,969 | 212,582 |
| Goodwill amortization | 1,473 | 1,427 | 1,902 | 4,802 |
| Merger costs |
- |
- |
1,929 |
1,929 |
| 132,511 | 155,615 | 156,322 | 444,448 | |
| Operating Profit | 143,006 | 173,730 | 194,526 | 511,262 |
| Other income (expense) | ||||
| Interest income | 7,502 | 8,960 | 8,865 | 25,327 |
| Interest expense | (181) | (232) | (102) | (515) |
| Other, net |
886 |
(1,239) |
5,105 |
4,752 |
| 8,207 | 7,489 | 13,868 | 29,564 | |
| Earnings Before Income Taxes | 151,213 | 181,219 | 208,394 | 540,826 |
| Income taxes |
49,017 |
56,989 |
64,354 |
170,360 |
| Net Earnings |
102,196 |
124,230 |
144,040 |
370,466 |
| Earnings per Share | 0.26 | 0.31 | 0.36 | 0.93 |
| Earnings per Share, Assuming Dilution | 0.25 | 0.30 | 0.35 | 0.90 |
| Average number of common shares outstanding | 398,693 | 400,877 | 401,807 | 400,459 |
| Average number of common shares outstanding, | ||||
| assuming dilution | 410,179 | 412,500 | 413,323 | 412,001 |
Restated Condensed Consolidated Statements of Earnings - 1998
(In thousands, except per-share data) |
Quarter 1 |
Quarter 2 |
Quarter 3 |
Quarter 4 |
Year Ended 1/1/99 |
| Net Sales | 346,769 | 407,721 | 428,387 | 521,333 | 1,704,210 |
| Cost of sales |
145,681 |
169,157 |
180,392 |
209,736 |
704,966 |
| Gross Profit | 201,088 | 238,564 | 247,995 | 311,597 | 999,244 |
| Operating Expenses | |||||
| Marketing, general & administrative expense | 53,194 | 57,970 | 57,828 | 74,881 | 243,873 |
| Research and development expense | 47,136 | 53,301 | 57,566 | 62,023 | 220,026 |
| Asset impairment | - | 24,793 | - | - | 24,793 |
| Merger costs | - | - | 12,991 | - | 12,991 |
| Goodwill amortization |
1,533 |
1,430 |
1,363 |
1,529 |
5,855 |
| 101,863 | 137,494 | 129,748 | 138,433 | 507,538 | |
| Operating Profit | 99,225 | 101,070 | 118,247 | 173,164 | 491,706 |
| Other income (expense) | |||||
| Interest income | 4,615 | 5,742 | 7,300 | 6,854 | 24,511 |
| Interest expense | (95) | (89) | (101) | (76) | (361) |
| Other, net |
1,248 |
72,395 |
(3,853) |
(889) |
68,901 |
| 5,768 | 78,048 | 3,346 | 5,889 | 93,051 | |
| Earnings Before Income Taxes | 104,993 | 179,118 | 121,593 | 179,053 | 584,757 |
| Income taxes |
34,098 |
57,991 |
38,512 |
58,036 |
188,637 |
| Net Earnings |
70,895 |
121,127 |
83,081 |
121,017 |
396,120 |
| Earnings per Share | $ 0.18 | $ 0.31 | $ 0.21 | $ 0.31 | $ 1.00 |
| Earnings per Share, Assuming Dilution | $ 0.18 | $ 0.30 | $ 0.21 | $ 0.30 | $ 0.98 |
| Average number of common shares outstanding | 392,854 | 394,145 | 395,300 | 395,881 | 394,546 |
| Average number of common shares outstanding, | |||||
| assuming dilution | 403,418 | 404,717 | 404,912 | 405,984 | 404,760 |
The financial information presented above has been restated to reflect the Company's August 30, 1999, merger with NetCore Systems, Inc., accounted for as a pooling of interests, as well as its August 3, 1998, merger with Coherent Communications Systems Corporation, which was originally accounted for as an immaterial pooling of interests. For more information on these restatements see Tellabs' Form 10-Q for the quarter ended October 1, 1999, filed with the Securities and Exchange Commission,("the SEC") on November 10, 1999, as well as its Form 8-K filed with the SEC on November 12, 1999.
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