3Ware 2000 Annual Report Download - page 16

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14 2000
AMCC
SUPPLEMENTARY FINANCIAL INFORMATION (UNAUDITED)
QUARTERLY FINANCIAL INFORMATION FOR FISCAL 1999 AND FISCAL 2000
Fiscal Year Ended March 31,
(in thousands, except per share data) 1999 2000
Fiscal quarter Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Net revenues $23,814 $25,472 $26,972 $28,742 $31,643 $37,898 $45,762 $57,049
Cost of revenues 9,399 9,347 9,669 9,522 10,283 11,326 13,209 15,400
Gross profit 14,415 16,125 17,303 19,220 21,360 26,572 32,553 41,649
% of revenues 61% 63% 64% 67% 68% 70% 71% 73%
Operating expenses:
Research and
development 4,893 5,454 5,847 6,278 6,354 7,194 8,281 10,986
Selling, general
and administrative 4,164 4,296 4,573 5,292 5,569 6,548 7,061 9,021
Merger-related costs — — — 2,350 ————
Total operating expenses 9,057 9,750 10,420 13,920 11,923 13,742 15,342 20,007
% of revenues 38% 38% 39% 48% 38% 36% 34% 35%
Operating income 5,358 6,375 6,883 5,300 9,437 12,830 17,211 21,642
% of revenues 22% 25% 26% 18% 30% 34% 38% 38%
Interest income, net 853 877 883 837 884 1,005 1,225 9,758
Income before
income taxes 6,211 7,252 7,766 6,137 10,321 13,835 18,436 31,400
% of revenues 26% 28% 29% 21% 33% 37% 40% 55%
Provision for
income taxes 2,227 2,584 2,646 2,776 3,535 4,738 6,324 10,770
Effective income
tax rate 36% 36% 34% 45% 34% 34% 34% 34%
Net income $ 3,984 $ 4,668 $ 5,120 $ 3,361 $ 6,786 $ 9,097 $12,112 $20,630
% of revenues 17% 18% 19% 12% 21% 24% 26% 36%
Diluted earnings
per share $ 0.04 $ 0.04 $ 0.05 $ 0.03 $ 0.06 $ 0.08 $ 0.10 $ 0.16
Shares used in calculating
diluted earnings per share 106,660 109,184 110,476 112,560 114,112 115,864 117,608 129,024
MARKET PRICE OF COMMON STOCK
Stock Prices
High $ 7.50 $ 7.50 $ 10.16 $ 11.69 $ 21.25 $ 33.50 $ 64.19 $158.87
Low $ 4.41 $ 3.22 $ 3.06 $ 8.22 $ 10.28 $ 19.06 $ 27.19 $ 50.53
End $ 6.47 $ 3.72 $ 8.47 $ 10.69 $ 20.56 $ 28.50 $ 62.63 $150.06
The Company’s common stock is traded on the Nasdaq Market System (“Nasdaq”) under the symbol AMCC. The table above
sets forth, for the fiscal quarters indicated, the high, low and quarter-end market prices of the common stock as reported
by Nasdaq (rounded to the nearest cent). The Company has never paid dividends on its common stock and presently intends
to continue this policy.