International Rectifier Corporation and Subsidiaries
Unaudited Consolidated Statement of Operations
(In thousands except per share amounts) |
| Q3 FY01 |
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
| |
|
2001 |
|
2000 |
|
2001 |
|
2000 |
| Revenues |
$ |
275,994 |
$ |
197,959 |
$ |
793,498 |
$ |
521,296 |
| Cost of sales |
|
161,044 |
|
125,530 |
|
470,739 |
|
342,446 |
| Gross profit |
|
114,950 |
|
72,429 |
|
322,759 |
|
178,850 |
| Selling and administrative expense |
|
35,111 |
|
28,816 |
|
103,602 |
|
82,556 |
| Research and development expense |
|
18,169 |
|
11,795 |
|
49,805 |
|
33,455 |
| Amortization of goodwill and other intangibles |
|
2,663 |
|
- |
|
3,354 |
|
- |
| Operating profit |
|
59,007 |
|
31,818 |
|
165,998 |
|
62,839 |
| Other income (expense): |
|
|
|
|
|
|
|
|
| Interest, net |
|
5,039 |
|
(2,138) |
|
16,820 |
|
(9,458) |
| Other, net |
|
542 |
|
475 |
|
1,517 |
|
1,075 |
| Income before income taxes |
|
64,588 |
|
30,155 |
|
184,335 |
|
54,456 |
| Provision for income taxes |
|
16,729 |
|
8,460 |
|
47,863 |
|
15,248 |
| Income before extraordinary charge |
|
47,859 |
|
21,695 |
|
136,472 |
|
39,208 |
Extraordinary charge on early repayment of debt,
net of income tax benefit of $1,856 |
|
- |
|
4,772 |
|
- |
|
4,772 |
| Net income |
$ |
47,859 |
$ |
16,923 |
$ |
136,472 |
$ |
34,436 |
| Net Income per share Basic: |
|
|
|
|
|
|
|
|
| Income before extraordinary charge |
$ |
0.77 |
$ |
0.40 |
$ |
2.20 |
$ |
0.75 |
| Effect of extraordinary charge |
|
- |
|
(0.09) |
|
- |
|
(0.10) |
| Net income per common share basic: |
$ |
0.77 |
$ |
0.31 |
$ |
2.20 |
$ |
0.65 |
| Net Income per share Diluted: |
|
|
|
|
|
|
|
|
| Income before extraordinary charge |
$ |
0.73 |
$ |
0.38 |
$ |
2.07 |
$ |
0.71 |
| Effect of extraordinary charge |
|
- |
|
(0.09) |
|
- |
|
(0.08) |
| Net income per common share basic: |
$ |
0.73 |
$ |
0.29 |
$ |
2.07 |
$ |
0.63 |
| Average common shares outstanding - Basic |
|
62,248 |
|
53,808 |
|
62,028 |
|
52,585 |
Average common shares and potentially dilutive
securities outstanding - Diluted |
|
65,943 |
|
57,742 |
|
66,034 |
|
54,977 |
|
|
