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<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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): July 2, 1995
SILICONIX INCORPORATED
(Exact name of registrant as specified in its charter)
DELAWARE 0-3698 94-1527868
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
2201 LAURELWOOD ROAD, SANTA CLARA, CALIFORNIA 95054
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (408) 988-8000
Page 1 of 5
<PAGE>
INFORMATION TO BE INCLUDED IN REPORT
ITEM 5. OTHER EVENTS
Filed herewith are the following financial statements:
(a) Condensed consolidated statements of operations for the
three and six months ended July 2, 1995 and July 3, 1994
(b) Condensed consolidated balance sheets as of July 2, 1995 and
December 31, 1994
Page 2 of 5
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
<TABLE>
<CAPTION>
SILICONIX INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
- --------------------------------------------------------------------------------------------------------------------
(Dollars in thousands 3 Months Ended 6 Months Ended
except per share amounts)
July 2, July 3, July 2, July 3,
1995 1994 1995 1994
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Net sales $61,125 $51,725 $112,474 $94,195
Cost of sales 38,216 32,780 70,289 57,958
--------------------------------------------------------------------
Gross profit 22,909 18,945 42,185 36,237
Research and development 4,937 3,926 9,240 7,947
Selling, marketing and administration 12,045 11,137 23,533 22,083
--------------------------------------------------------------------
Operating income 5,927 3,882 9,412 6,207
Interest expense 621 543 1,267 934
Other (income) expense - net (126) 265 (318) 347
--------------------------------------------------------------------
Income before taxes 5,432 3,074 8,463 4,926
Income taxes 890 225 1,387 450
--------------------------------------------------------------------
Net income after taxes $4,542 $2,849 $7,076 $4,476
--------------------------------------------------------------------
--------------------------------------------------------------------
Per share amounts:
Net income $0.46 $0.29 $0.71 $0.45
--------------------------------------------------------------------
--------------------------------------------------------------------
Shares used to compute earnings per share 9,960 9,960 9,960 9,960
--------------------------------------------------------------------
--------------------------------------------------------------------
</TABLE>
See accompanying notes to condensed consolidated financial statements.
Page 3 of 5
<PAGE>
SILICONIX INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
July 2, December 31,
1995 1994
(Unaudited)
- --------------------------------------------------------------------------------
(000's omitted)
Assets
- --------------------------------------------------------------------------------
<S> <C> <C>
Current assets:
Cash and equivalents $11,100 $10,743
Accounts receivable, less allowances 35,686 30,379
Accounts receivable from affiliates 7,730 5,312
Inventories 28,047 31,033
Other current assets 7,252 5,456
----------------------------
Total current assets 89,815 82,923
----------------------------
----------------------------
Property, plant and equipment, at cost:
Land 279 279
Buildings and improvements 35,574 34,633
Machinery and equipment 150,077 142,641
----------------------------
----------------------------
185,930 177,553
Less accumulated depreciation (113,485) (109,641)
----------------------------
Net property, plant and equipment 72,445 67,912
----------------------------
Other assets 4,834 4,200
----------------------------
Total assets $167,094 $155,035
----------------------------
----------------------------
Liabilities and Shareholders' Equity
- --------------------------------------------------------------------------------
Current liabilities:
Current portion of debt obligations $584 $612
Accounts payable 13,121 15,194
Accounts payable to affiliates 7,082 4,980
Accrued payroll and related compensation 8,411 7,752
Accrued liabilities 22,709 19,781
----------------------------
Total current liabilities 51,907 48,319
Long-term related party debt 34,570 34,570
Long-term debt, less current portion 6,642 6,264
----------------------------
Total liabilities 93,119 89,153
----------------------------
Shareholders' equity:
Common stock 100 100
Additional paid-in-capital 59,256 59,193
Retained earnings (deficit) 14,413 7,337
Accumulated translation adjustments 206 (748)
----------------------------
----------------------------
Total shareholders' equity 73,975 65,882
----------------------------
----------------------------
Total liabilities and shareholders' equity $167,094 $155,035
----------------------------
----------------------------
</TABLE>
Note: The balance sheet at December 31, 1994 has been derived from the audited
financial statements at that date but does not include all of the information
and footnotes required by generally accepted accounting principles for complete
financial statements.
See accompanying notes to condensed consolidated financial statements.
Page 4 of 5
<PAGE>
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 thereunto duly authorized.
Date: July 2_, 1995 SILICONIX INCORPORATED
By /s/Jurgen F. Biehn
---------------------
Jurgen F. Biehn
Chief Financial Officer
Page 5 of 5
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> JUL-02-1995
<CASH> 11,100
<SECURITIES> 0
<RECEIVABLES> 41,806
<ALLOWANCES> (6,120)
<INVENTORY> 28,047
<CURRENT-ASSETS> 89,815
<PP&E> 185,930
<DEPRECIATION> (113,485)
<TOTAL-ASSETS> 167,094
<CURRENT-LIABILITIES> 51,907
<BONDS> 0
<COMMON> 100
0
0
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 167,094
<SALES> 112,474
<TOTAL-REVENUES> 112,474
<CGS> 70,289
<TOTAL-COSTS> 32,773
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,267
<INCOME-PRETAX> 8,463
<INCOME-TAX> 1,387
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 7,076
<EPS-PRIMARY> .71
<EPS-DILUTED> .71
</TABLE>
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