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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) April 10, 1998
INTEGRATED SILICON SOLUTION, INC.
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(Exact name of Registrant as specified in its charter)
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<CAPTION>
<S> <C> <C>
DELAWARE 0-23084 77-0199971
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(State or other jurisdiction of Commission File No. (I.R.S. Employer Identification No.)
incorporation or organization)
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2231 Lawson Lane, Santa Clara, California 95054.
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(Address of principal executive offices) zip code
Registrant's telephone number, including area code (408) 588-0800
Not applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
Registrant is filing this Form 8-K solely for the purpose of
disclosing the effect of the adoption of FAS 128, "Earnings per Share", on its
Annual Report on Form 10-K for the fiscal year ended September 30, 1997 (the
1997 Form 10-K) and the related restatement of earnings per share thereon, so
that such information may be incorporated by reference into future filings.
Restatement of selected financial data is for the fiscal quarters in each of the
years ended September 30, 1997 and September 30, 1996 and the five fiscal years
ended September 30, 1997, and related disclosures as prescribed by FAS 128 for
the three years ended September 30, 1997.
Restatement of selected data as relates to the adoption of FAS 128
"Earnings per Share" is attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Restatement of selected data as relates to the
adoption of FAS 128, "Earnings per Share".
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
INTEGRATED SILICON SOLUTION, INC.
/s/ Gary L. Fischer
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Gary L. Fischer
Executive Vice President,
Office of the President and
Chief Financial Officer
Date: April 10, 1998
1
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EXHIBIT INDEX
EXHIBIT
NO. DESCRIPTION
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99.1 Restatement of selected data as relates to the adoption of
FAS 128, "Earnings per share".
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EXHIBIT 99.1
In 1997, the Financial Accounting Standards Board issued Statement No.
128, "Earnings Per Share" (FAS 128). FAS 128 replaced the calculation of primary
and fully diluted earnings per share with basic and diluted earnings per share.
Unlike primary earnings per share, basic earnings per share excludes any
dilutive effects of options, warrants and convertible securities. Diluted
earnings per share is very similar to the previously reported fully diluted
earnings per share. Earnings per share amounts for all periods have been
restated to conform to FAS 128 requirements.
QUARTERLY FINANCIAL INFORMATION
The following information restates income (loss) per share amounts
under Item 8 of the Company's 1997 Form 10-K.
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<CAPTION>
Dec. 31, Mar. 31, June 30, Sept. 30,
1996 1997 1997 1997
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<S> <C> <C> <C> <C>
Net loss per share
as previously reported $ (0.09) $ (0.08) $ (0.22) $ (0.03)
Net loss per share restated:
Basic and diluted loss per share $ (0.09) $ (0.08) $ (0.22) $ (0.03)
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<CAPTION>
Dec. 31, Mar. 31, June 30, Sept. 30,
1995 1996 1996 1996
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<S> <C> <C> <C> <C>
Net income (loss) per share
as previously reported $ 0.56 $ 0.28 $ (0.60) $ (0.22)
Net income (loss) per share restated:
Basic income (loss) per share $ 0.59 $ 0.29 $ (0.60) $ (0.22)
Diluted income (loss) per share $ 0.56 $ 0.28 $ (0.60) $ (0.22)
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FISCAL YEAR INFORMATION
The following information restates net income (loss) per share amounts
under Item 6 of the Company's 1997 Form 10-K.
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<CAPTION>
Fiscal Year Ended September 30,
1997 1996 1995 1994 1993
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<S> <C> <C> <C> <C> <C>
Net income (loss) per share
as previously reported (1) $ (0.43) $ 0.06 $ 1.79 $ 0.34 --
Net income (loss) per share restated:
Basic income (loss) per share (1) $ (0.43) $ 0.06 $ 1.98 $ 0.37 --
Diluted income (loss) per share $ (0.43) $ 0.06 $ 1.80 $ 0.34 --
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(1) Prior to 1994, Statements of Operations omit net income per share as it
was not presented in the Company's initial public offering registration
statement. Pro forma basic income per share is presented for fiscal 1994
and 1995.
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FAS 128 DISCLOSURE
The calculation of Basic and Diluted income (loss) per share for each
of the three years ended September 30, 1997 are as follows:
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<CAPTION>
Years Ended September 30,
1997 1996 1995
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In thousands, except per share data
<S> <C> <C> <C>
Net income (loss) $ (7,686) $ 1,015 $ 29,653
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Denominator for basic and proforma basic income (loss) per share:
Weighted average common shares
outstanding 17,748 17,457 12,140
Preferred stock (Proforma for 1995) -- -- 2,805
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Denominator for basic and proforma basic
income (loss) per share 17,748 17,457 14,945
Dilutive options and warrants:
Options -- 899 1,472
Warrants -- -- 30
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Denominator for diluted income (loss) per share 17,748 18,356 16,447
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Basic income (loss) per share (Proforma in 1995) $ (0.43) $ 0.06 $ 1.98
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Diluted income (loss) per share $ (0.43) $ 0.06 $ 1.80
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