International Rectifier Corporation and Subsidiaries
Unaudited Consolidated Statement of Income
(In thousands except per share amounts) |
| Q3 FY03 |
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
| |
|
2003 |
|
2002 |
|
2003 |
|
2002 |
| Revenues |
$ |
214,377 |
$ |
178,633 |
$ |
636,074 |
$ |
519,212 |
| Cost of sales |
|
142,506 |
|
115,988 |
|
427,830 |
|
336,073 |
| Gross profit |
|
71,871 |
|
62,645 |
|
208,244 |
|
183,139 |
| Selling and administrative expense |
|
35,491 |
|
31,171 |
|
109,084 |
|
92,443 |
| Research and development expense |
|
19,578 |
|
16,646 |
|
57,671 |
|
50,523 |
| Amortization of acquisition-related intangibles |
|
1,342 |
|
968 |
|
3,996 |
|
2,904 |
| Impairment of assets, restructuring and severance charges |
|
6,389 |
|
- |
|
180,205 |
|
- |
| Operating profit |
|
9,071 |
|
13,860 |
|
(142,712) |
|
37,269 |
| Other income (expense): |
|
|
|
|
|
|
|
|
| Interest, net |
|
448 |
|
1,055 |
|
(86) |
|
5,308 |
| Other, net |
|
33 |
|
1,581 |
|
192 |
|
1,450 |
| Income before income taxes |
|
9,552 |
|
16,496 |
|
(142,606) |
|
44,027 |
| Provision for income taxes |
|
2,101 |
|
4,289 |
|
(39,730) |
|
11,447 |
| Net income |
$ |
7,451 |
$ |
12,207 |
$ |
(102,876) |
$ |
32,580 |
| Net income per common share basic: |
$ |
0.12 |
$ |
0.19 |
$ |
(1.61) |
$ |
0.51 |
| Net income per common share diluted: |
$ |
0.11 |
$ |
0.19 |
$ |
(1.61) |
$ |
0.50 |
| Average common shares outstanding - Basic |
|
64,054 |
|
63,415 |
|
63,916 |
|
63,321 |
Average common shares and potentially dilutive
securities outstanding - Diluted |
|
64,850 |
|
65,453 |
|
63,916 |
|
65,105 |
|
|
