ADT 2000 Annual Report Download - page 64

SIXTY TWO
[2 3 ] Summarized Quarterly Financial Data (Unaudited)
Summarized quarterly financial data is presented below.
YEAR ENDED SEPTEMBER 3 0 , 20 00
(I N MILLI ONS, EXCEPT PER SHARE DATA) 1 ST QTR.(1 ) 2 N D QTR.(2 ) 3 RD QTR.(3 ) 4 TH QTR.( 4 )
Net sales $ 6 ,6 3 8 .8 $ 7 , 0 7 0 .0 $ 7 ,4 1 7 .8 $ 7 , 8 0 5 .3
Gross profit 2 ,4 4 6 .9 2 , 6 1 4 .7 2 ,8 6 8 .0 3 , 0 7 1 .1
(Loss) income before extraordinary items 7 5 7 .2 8 5 5 .5 9 9 7 .3 1 ,9 1 0 .1
Net income(9) 7 5 7 .0 8 5 5 .5 9 9 7 .3 1 ,9 1 0 . 1
Basic income per common share:
Income before extraordinary items $ 0 .4 5 $ 0 .5 1 $ 0 .5 9 $ 1 .1 3
Net income per common share 0 .4 5 0 .5 1 0 .5 9 1 .1 3
Diluted income per common share:
Income before extraordinary items $ 0 .4 4 $ 0 .5 0 $ 0 .5 8 $ 1 .1 2
Net income per common share 0 .4 4 0 .5 0 0 .5 8 1 .1 2
YEAR ENDED SEPTEMBER 3 0 , 19 99
(I N MILLI ONS, EXCEPT PER SHARE DATA) 1 ST QTR.(5 ) 2 N D QTR.(6 ) 3 RD QTR.(7 ) 4 TH QTR.( 8 )
Net sales $5,213.5 $5,238.7 $5,819.8 $6,224.5
Gross profit 1,796.9 1,849.0 2,036.5 2,381.0
(Loss) income before extraordinary items (89.6) 164.3 212.2 780.8
Net (loss) income(9) (92.0) 121.8 211.7 780.5
Basic (loss) income per common share:
(Loss) income before extraordinary items $ (0.06) $ 0.10 $ 0.13 $ 0.47
Net (loss) income per common share (0.06) 0.07 0.13 0.47
Diluted (loss) income per common share:
(Loss) income before extraordinary items $ (0.06) $ 0.10 $ 0.13 $ 0.46
Net (loss) income per common share (0.06) 0.07 0.13 0.46
(1) Includes charges for the impairment of long-lived assets of $99.0 million and restructuring and other non-recurring charges of $7.9 million, of which $6.4 million is included in cost of sales, related
to exiting USSC’s interventional cardiology business; restructuring and other non-recurring charges of $7.7 million related to USSC’s suture business; and a restructuring charge of $6.5 million related
to AMP’s Brazilian operations. Also includes a credit of $94.7 million representing a revision in estimates of merger, restructuring and other non-recurring accruals, consisting of $57.8 million related to
the merger with AMP and AMP’s profit improvement plan, $15.5 million related primarily to the merger with USSC and $21.4 million related to the Company’s 1997 restructuring accruals.
(2) Includes merger, restructuring and other non-recurring charges of $10.4 million, of which $0.9 million is included in cost of sales, primarily related to activities in AMP’s wireless communications
business and restructuring and other non-recurring charges of $0.5 million related to USSC’s suture business. Also includes a credit of $12.7 million, of which $6.3 million is included in cost of sales,
primarily representing a revision of estimates of merger, restructuring and other non-recurring accruals related to the merger with AMP and AMP’s profit improvement plan.
(3) Includes restructuring and other non-recurring charges of $2.9 million related to USSC’s suture business. Also includes a merger, restructuring and other non-recurring credit of $9.8 million repre-
senting a revision of estimates of merger, restructuring and other non-recurring accruals related to the merger with AMP and AMP’s profit improvement plan.
(4) Includes non-recurring charges of $275.0 million as a reserve for certain claims relating to a merged company in the Healthcare business, $13.1 million related to a non-recurring charge incurred in
connection with the TyCom IPO and $1.2 million of other non-recurring charges. Also includes credits of $27.5 million and $4.2 million representing a revision of estimates of merger, restructuring and
other non-recurring accruals related to the merger with AMP and AMP’s profit improvement plan and the merger with USSC, respectively.
(5) Includes merger, restructuring and other non-recurring charges of $412.6 million and charges for the impairment of long-lived assets of $76.0 million, primarily related to the merger with USSC, and
restructuring and other non-recurring charges of $116.5 million, of which $28.3 million is included in cost of sales, and charges for the impairment of long-lived assets of $65.6 million related to AMP’s
profit improvement plan. Also includes a credit of $3.0 million representing a revision of estimates related to Tyco’s 1997 merger, restructuring and other non-recurring accruals.
(6) Includes restructuring and other non-recurring charges of $158.8 million, of which $26.9 million is included in cost of sales, and charges for the impairment of long-lived assets of $171.1 million
related to AMP’s profit improvement plan. Also includes restructuring and other non-recurring charges of $2.0 million related to the merger with USSC and a credit of $5.3 million representing a revi-
sion of estimates related to Tyco’s 1997 merger, restructuring and other non-recurring accruals.
(7) Includes merger, restructuring and other non-recurring charges of $368.0 million, of which $51.2 million is included in cost of sales, and charges for the impairment of long-lived assets of $194.8
million, related to the merger with AMP and AMP’s profit improvement plan. Also includes restructuring and other non-recurring charges of $2.8 million related to the merger with USSC and a credit of
$19.7 million representing a revision of estimates related to Tyco’s 1997 merger, restructuring and other non-recurring accruals.
(8) Includes restructuring and other non-recurring charges of $6.4 million related to the merger with USSC. Also includes a credit of $3.9 million representing a revision of estimates related to Tyco’s
1997 merger, restructuring and other non-recurring accruals.
(9) Extraordinary items relate principally to the Company’s debt tender offers and the write-off of net unamortized deferred refinancing costs relating to the early extinguishment of debt.