Exhibit 99.1
Item 6. Selected Financial Data
Five-Year Financial Summary
| | | | | | | | | | | | | | | | | | | | | |
| | | Years Ended December 31, | |
| | | 2008 | | | 2007 | | | 2006 | | | 2005 | | | 2004 | |
| | | (In thousands) | |
Operating Data | | | | | | | | | | | | | | | | | | | | |
| Revenue | | $ | 766,645 | | | $ | 850,617 | | | $ | 833,734 | | | $ | 668,667 | | | $ | 639,402 | |
| Expenses: | | | | | | | | | | | | | | | | | | | | |
| Cost of revenue | | | 525,047 | | | | 531,230 | | | | 543,502 | | | | 429,302 | | | | 398,704 | |
| Selling and administrative | | | 208,374 | | | | 242,118 | | | | 224,011 | | | | 187,151 | | | | 193,195 | |
| Depreciation | | | 28,491 | | | | 27,205 | | | | 25,397 | | | | 25,646 | | | | 25,372 | |
| Amortization | | | 4,606 | | | | 1,638 | | | | 534 | | | | — | | | | — | |
| Restructuring charges, integration costs and asset impairment charges | | | 39,329 | | | | 17,001 | | | | 14,159 | | | | 10,410 | | | | 7,738 | |
| Gain on sale of building | | | — | | | | — | | | | — | | | | — | | | | 896 | |
| Purchased in-process research and development | | | — | | | | — | | | | 958 | | | | — | | | | — | |
| | | | | | | | | | | | | | | | |
| Operating (loss) income | | | (39,202 | ) | | | 31,425 | | | | 25,173 | | | | 16,158 | | | | 15,289 | |
| Interest expense | | | (8,495 | ) | | | (8,320 | ) | | | (8,046 | ) | | | (7,434 | ) | | | (12,452 | ) |
| Loss on extinguishment of debt | | | — | | | | — | | | | — | | | | — | | | | (8,815 | ) |
| Loss on sale of marketable securities | | | — | | | | — | | | | — | | | | (7,890 | ) | | | — | |
| Gain on sale of equity investment | | | — | | | | 9,210 | | | | — | | | | — | | | | — | |
| Other income (expense), net | | | 5,561 | | | | 1,127 | | | | 3,340 | | | | 1,537 | | | | (39 | ) |
| | | | | | | | | | | | | | | | |
| (Loss) income from continuing operations before income taxes | | | (42,136 | ) | | | 33,442 | | | | 20,467 | | | | 2,371 | | | | (6,017 | ) |
| Income tax benefit (expense) | | | 11,728 | | | | (7,890 | ) | | | (9,811 | ) | | | (3,623 | ) | | | 796 | |
| | | | | | | | | | | | | | | | |
| (Loss) income from continuing operations | | $ | (30,408 | ) | | $ | 25,552 | | | $ | 10,656 | | | $ | (1,252 | ) | | $ | (5,221 | ) |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| | | Years Ended December 31, |
| | | 2008 | | 2007 | | 2006 | | 2005 | | 2004 |
| | | (In thousands, except per share data and current ratio) |
Balance Sheet Data | | | | | | | | | | | | | | | | | | | | |
| Current assets | | $ | 202,453 | | | $ | 310,222 | | | $ | 298,291 | | | $ | 369,995 | | | $ | 308,299 | |
| Current liabilities | | $ | 109,884 | | | $ | 198,385 | | | $ | 128,527 | | | $ | 139,100 | | | $ | 157,387 | |
| Working capital | | $ | 92,569 | | | $ | 111,837 | | | $ | 169,764 | | | $ | 230,895 | | | $ | 150,912 | |
| Current ratio | | | 1.84:1 | | | | 1.56:1 | | | | 2.32:1 | | | | 2.66:1 | | | | 1.96:1 | |
| Plant and equipment, net | | $ | 130,149 | | | $ | 121,848 | | | $ | 132,784 | | | $ | 106,944 | | | $ | 93,997 | |
| Total assets | | $ | 480,749 | | | $ | 508,002 | | | $ | 513,055 | | | $ | 559,255 | | | $ | 656,249 | |
| Total debt | | $ | 89,194 | | | $ | 74,870 | | | $ | 71,073 | | | $ | 66,115 | | | $ | 62,395 | |
| Stockholders’ equity | | $ | 186,583 | | | $ | 251,952 | | | $ | 238,483 | | | $ | 315,085 | | | $ | 384,861 | |
Per Share Data | | | | | | | | | | | | | | | | | | | | |
| (Loss) earnings per share from continuing operations: | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | (1.11 | ) | | $ | 0.91 | | | $ | 0.34 | | | $ | (0.04 | ) | | $ | (0.15 | ) |
| Diluted | | $ | (1.11 | ) | | $ | 0.88 | | | $ | 0.34 | | | $ | (0.04 | ) | | $ | (0.15 | ) |
| Dividends | | $ | 0.22 | | | $ | 0.22 | | | $ | 0.22 | | | $ | 0.22 | | | $ | 0.22 | |
As of December 31, 2008, the remaining portion of the Company’s $75.0 million convertible subordinated debentures (the “Notes” — approximately $8.3 million) are classified as noncurrent liabilities. The Notes were included in current liabilities as of December 31, 2007 as a result of the redemption and repurchase features that were able to occur on October 1, 2008, as discussed in more detail in Note 11 to the Consolidated Financial Statements. Excluding this classification in 2007, working capital would have been $183,949, and the current ratio would have been 2.46 to 1. This amount is classified as a noncurrent liability for 2004 through 2006. The classification of the debentures is discussed in more detail in Note 11 to the Consolidated Financial Statements.
Also refer to Items Affecting Comparability in Management’s Discussion and Analysis of Financial Condition and Results of Operations for other items affecting the comparability of the financial information presented above.
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