CONSOLIDATED BALANCE SHEET INFORMATION | |||
(unaudited) | |||
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| December 29, 2012 |
| March 31, 2012 |
| (in thousands) | ||
ASSETS |
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Cash and cash equivalents | $ 16,844 |
| $ 19,860 |
Short term investments | 120,034 |
| 111,137 |
Trade accounts receivable, net | 5,743 |
| 8,021 |
Inventories | 11,427 |
| 14,438 |
Deferred tax assets | 7,450 |
| 7,529 |
Prepaid income taxes | 3,231 |
| 3,032 |
Prepaid expenses and other current assets | 5,123 |
| 6,786 |
Total current assets | 169,852 |
| 170,803 |
Long term investments | 13,500 |
| 25,900 |
Property, plant and equipment, net | 4,416 |
| 4,941 |
Other assets | 818 |
| 621 |
Deferred tax assets, noncurrent | 5,291 |
| 5,375 |
TOTAL ASSETS | $ 193,877 |
| $ 207,640 |
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LIABILITIES |
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Trade accounts payable | $ 2,916 |
| $ 1,994 |
Accrued salaries and employee benefits | 12,688 |
| 12,434 |
Other accrued liabilities | 818 |
| 615 |
Deferred revenue | 2,069 |
| 2,560 |
Income taxes payable | 90 |
| 23 |
Total current liabilities | 18,581 |
| 17,626 |
Income taxes payable, noncurrent | 3,702 |
| 4,161 |
Deferred tax liabilities, noncurrent | 127 |
| - |
Other accrued liabilities, noncurrent | 571 |
| 561 |
Total liabilities | 22,981 |
| 22,348 |
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SHAREHOLDERS' EQUITY |
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Common stock | 67,696 |
| 68,031 |
Accumulated other comprehensive loss | (808) |
| (1,345) |
Retained earnings | 104,008 |
| 118,606 |
Total shareholders' equity | 170,896 |
| 185,292 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 193,877 |
| $ 207,640 |
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SUPERTEX, INC. | ||||||||||||||||||
CONSOLIDATED INCOME STATEMENT INFORMATION | ||||||||||||||||||
(unaudited) | ||||||||||||||||||
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| Three Months Ended |
| Nine Months Ended | |||||||||||||||
| (in thousands, except per share amounts) | |||||||||||||||||
| December 29, 2012 |
| September 29, 2012 |
| December 31, 2011 |
| December 29, 2012 |
| December 31, 2011 | |||||||||
Net sales | $ 14,373 |
| $ 15,919 |
| $ 14,066 |
| $ 46,351 |
| $ 49,084 | |||||||||
Cost of sales(1) | 7,057 |
| 8,571 |
| 8,708 |
| 24,193 |
| 26,132 | |||||||||
Gross profit | 7,316 |
| 7,348 |
| 5,358 |
| 22,158 |
| 22,952 | |||||||||
Research and development(1) | 3,440 |
| 3,556 |
| 3,480 |
| 10,482 |
| 10,514 | |||||||||
Selling, general and administrative(1) | 3,113 |
| 3,449 |
| 3,269 |
| 9,946 |
| 9,226 | |||||||||
Income (loss) from operations | 763 |
| 343 |
| (1,391) |
| 1,730 |
| 3,212 | |||||||||
Interest and other income, net | 412 |
| 616 |
| 784 |
| 1,230 |
| 567 | |||||||||
Income (loss) before income taxes | 1,175 |
| 959 |
| (607) |
| 2,960 |
| 3,779 | |||||||||
(Benefit from) Provision for income taxes | (256) |
| 269 |
| (703) |
| 242 |
| 303 | |||||||||
Net income | $ 1,431 |
| $ 690 |
| $ 96 |
| $ 2,718 |
| $ 3,476 | |||||||||
Net income per share: |
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Basic | $ 0.12 |
| $ 0.06 |
| $ 0.01 |
| $ 0.23 |
| $ 0.28 | |||||||||
Diluted | $ 0.12 |
| $ 0.06 |
| $ 0.01 |
| $ 0.23 |
| $ 0.28 | |||||||||
Shares used in per share computation: |
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Basic | 11,567 |
| 11,779 |
| 12,063 |
| 11,782 |
| 12,439 | |||||||||
Diluted | 11,568 |
| 11,782 |
| 12,066 |
| 11,783 |
| 12,450 | |||||||||
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(1) Includes amortization of employee stock-based |
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Cost of sales | $ 108 |
| $ 130 |
| $ 161 |
| $ 372 |
| $ 434 | |||||||||
Research and development | $ 318 |
| $ 335 |
| $ 352 |
| $ 1,002 |
| $ 928 | |||||||||
Selling, general and administrative | $ 222 |
| $ 304 |
| $ 308 |
| $ 788 |
| $ 881 | |||||||||
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SUPERTEX, INC. | |||||||||
SUPPLEMENTAL RECONCILIATIONS OF GAAP TO NON-GAAP RESULTS | |||||||||
(unaudited) | |||||||||
| Three Months Ended |
| Nine Months Ended | ||||||
| (in thousands, except per share amounts) | ||||||||
| December 29, 2012 |
| September 29, 2012 |
| December 31, 2011 |
| December 29, 2012 |
| December 31, 2011 |
GAAP net income | $ 1,431 |
| $ 690 |
| $ 96 |
| $ 2,718 |
| $ 3,476 |
Adjustment for stock-based compensation included in: |
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Cost of sales | 108 |
| 130 |
| 161 |
| 372 |
| 434 |
Research and development | 318 |
| 335 |
| 352 |
| 1,002 |
| 928 |
Selling, general and administrative | 222 |
| 304 |
| 308 |
| 788 |
| 881 |
Subtotal | 648 |
| 769 |
| 821 |
| 2,162 |
| 2,243 |
Tax effect of stock-based compensation | (11) |
| (18) |
| (19) |
| (47) |
| (67) |
Non-GAAP net income excluding | $ 2,068 |
| $ 1,441 |
| $ 898 |
| $ 4,833 |
| $ 5,652 |
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Non-GAAP net income per share: |
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Basic | $ 0.18 |
| $ 0.12 |
| $ 0.07 |
| $ 0.41 |
| $ 0.45 |
Diluted | $ 0.18 |
| $ 0.12 |
| $ 0.07 |
| $ 0.41 |
| $ 0.45 |
Shares used in per share computation: |
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Basic | 11,567 |
| 11,779 |
| 12,063 |
| 11,782 |
| 12,439 |
Diluted | 11,568 |
| 11,782 |
| 12,066 |
| 11,783 |
| 12,450 |
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SUPERTEX, INC. | |||||||||
SUPPLEMENTAL RECONCILIATIONS OF GAAP TO NON-GAAP INCOME PER SHARE | |||||||||
(unaudited) | |||||||||
| Three Months Ended |
| Nine Months Ended | ||||||
| (in thousands, except per share amounts) | ||||||||
| December 29, 2012 |
| September 29, 2012 |
| December 31, 2011 |
| December 29, 2012 |
| December 31, 2011 |
Shares used in per share computation: | 11,568 |
| 11,782 |
| 12,066 |
| 11,783 |
| 12,450 |
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DILUTED: |
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GAAP net income per share | $ 0.12 |
| $ 0.06 |
| $ 0.01 |
| $ 0.23 |
| $ 0.28 |
Adjustments to reconcile net income to non-GAAP net income per share: |
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Employee stock-based compensation effects included in: |
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Cost of sales | 0.01 |
| 0.01 |
| 0.01 |
| 0.03 |
| 0.03 |
Research and development | 0.03 |
| 0.03 |
| 0.03 |
| 0.08 |
| 0.08 |
Selling, general and administrative | 0.02 |
| 0.02 |
| 0.02 |
| 0.07 |
| 0.07 |
Provision for income taxes | (0.00) |
| (0.00) |
| (0.00) |
| (0.00) |
| (0.01) |
Non-GAAP net income per share excluding employee stock-based compensation | $ 0.18 |
| $ 0.12 |
| $ 0.07 |
| $ 0.41 |
| $ 0.45 |
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