Exhibit 99.4
Supplemental Operating Performance and Manufacturing Ramp Information
November 11, 2010
Please Note:
All data in millions of dollars except earnings per share and as noted
Guidance is as of November 11, 2010 and the company assumes no responsibility to update guidance in the future.
Non-GAAP to GAAP reconcilliations for each quarterly period is available in each respective quarters' earnings release and investor presentation issued concurrently which can be found by clicking the links provided below the posting of this document
GAAP (in millions $ except EPS) | | | | | | | | | | |
| | | Q3 2010 | | | | Q2 2010 | | | | Q1 2010 | | | | Q4 2009 | | | | Q3 2009 | |
Revenue | | $ | 550.6 | | | $ | 384.2 | | | $ | 347.3 | | | $ | 547.9 | | | $ | 465.4 | |
Gross Margin | | | 20.4 | % | | | 22.9 | % | | | 20.7 | % | | | 20.3 | % | | | 21.5 | % |
Operating Income | | $ | 8.2 | | | $ | (1.7 | ) | | $ | (2.9 | ) | | $ | 42.7 | | | $ | 46.2 | |
EPS (diluted) | | $ | 0.21 | | | $ | (0.07 | ) | | $ | 0.13 | | | $ | 0.09 | | | $ | 0.20 | |
Tax rate | | | 21.0 | % | | | 152.3 | % | | | -144.1 | % | | | 81.9 | % | | | 54.2 | % |
Share Count (m) | | | 105.6 | | | | 95.6 | | | | 96.5 | | | | 96.4 | | | | 105.0 | |
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Non-GAAP (in millions $ except EPS) | | | | | | | | | | | | | |
| | | Q3 2010 | | | | Q2 2010 | | | | Q1 2010 | | | | Q4 2009 | | | | Q3 2009 | |
Revenue | | $ | 553.8 | | | $ | 392.1 | | | $ | 347.3 | | | $ | 547.9 | | | $ | 465.4 | |
Gross Margin | | | 22.3 | % | | | 26.3 | % | | | 22.5 | % | | | 21.7 | % | | | 23.1 | % |
Operating Income | | $ | 45.2 | | | $ | 33.0 | | | $ | 13.5 | | | $ | 60.3 | | | $ | 63.8 | |
EPS (diluted) | | $ | 0.26 | | | $ | 0.15 | | | $ | 0.05 | | | $ | 0.47 | | | $ | 0.46 | |
Tax rate | | | 15.4 | % | | | 20.3 | % | | | 25.9 | % | | | 20.3 | % | | | 25.3 | % |
Share Count (m) | | | 105.6 | | | | 96.8 | | | | 96.5 | | | | 96.4 | | | | 105.0 | |
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Business Units (Non-GAAP, in millions $)* | | | | | | | | | |
| | | Q3 2010 | | | | Q2 2010 | | | | Q1 2010 | | | | Q4 2009 | | | | Q3 2009 | |
Revenue | | | | | | | | | | | | | | | | | | | | |
UPP | | $ | 261.0 | | | $ | 127.9 | | | $ | 144.1 | | | $ | 224.9 | | | $ | 195.1 | |
R&C | | $ | 292.8 | | | $ | 264.2 | | | $ | 203.2 | | | $ | 323.1 | | | $ | 270.2 | |
GM | | | | | | | | | | | | | | | | | | | | |
UPP | | | 20.0 | % | | | 26.1 | % | | | 24.3 | % | | | 24.1 | % | | | 27.9 | % |
R&C | | | 24.3 | % | | | 26.5 | % | | | 21.3 | % | | | 19.9 | % | | | 19.6 | % |
Capex | | $ | 4.3 | | | $ | 62.0 | | | $ | 43.7 | | | $ | 18.2 | | | $ | 38.0 | |
(All financial data reflects restated financial results)
(*Business Units information reflects change in segmentation initiated in Q2 2010)
Guidance ** (in millions $ except EPS) | | | | |
GAAP | | | Q4 2010 | | | FY2010 | |
Revenue | | $ | 870-970 | | | $ | 2.15 - $2.25B | |
Gross Margin | | | 19-21 | % | | | 20-21 | % |
EPS (diluted) | | $ | 0.45-$0.60 | | | $ | 0.75-$0.90 | |
Tax rate | | | 24-28 | % | | | 34-42 | % |
Share Count (m) | | | 106 | | | | 106 | |
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Non-GAAP | | | | | | | | |
Revenue | | $ | 870-970 | | | $ | 2.15 - $2.25B | |
Gross Margin | | | 20-22 | % | | | 22-23 | % |
EPS (diluted) | | $ | 0.95-$1.15 | | | $ | 1.45 - $1.65 | |
Tax rate | | | 12-14 | % | | | 13-16 | % |
Share Count (m) | | | 106 | | | | 106 | |
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Capex | | | | | | $ | 125-$150 | |
Fab Manufacturing Ramp (Capacity)
| | Line | | | MW | | | Fab MW | | | Year | | | MW CAP | |
Fab 1 | | | 1 | | | | 25 | | | | | | | 2004 | | | | 25 | |
| | | 2 | | | | 25 | | | | | | | 2005 | | | | 50 | |
| | | 3 | | | | 25 | | | | | | | | | | | | |
| | | 4 | | | | 33 | | | | 108 | | | | 2006 | | | | 108 | |
Fab 2 | | | 5 | | | | 33 | | | | | | | | | | | | | |
| | | 6 | | | | 33 | | | | | | | | | | | | | |
| | | 7 | | | | 40 | | | | | | | | | | | | | |
2007 Total | | | | | | | 106 | | | | | | | | 2007 | | | | 214 | |
| | | 8 | | | | 40 | | | | | | | | | | | | | |
| | | 9 | | | | 40 | | | | | | | | | | | | | |
| | | 10 | | | | 40 | | | | | | | | | | | | | |
| | | 11 | | | | 40 | | | | | | | | | | | | | |
| | | 12 | | | | 40 | | | | | | | | | | | | | |
2008 Total | | | | | | | 200 | | | | | | | | 2008 | | | | 414 | |
| | | 13 | | | | 40 | | | | | | | | | | | | | |
| | | 14 | | | | 40 | | | | | | | | | | | | | |
| | | 15 | | | | 40 | | | | | | | | | | | | | |
| | | 16 | | | | 40 | | | | | | | | | | | | | |
2009 Total | | | | | | | 160 | | | | 466 | | | | 2009 | | | | 574 | |
Fab 3 | | | | | | | | | | | | | | | | | | | | |
2010 | | | | | | | 5 | | | | 5 | | | | 2010 | | | | 580 | |
2011 | | | | | | | 350 | | | | 355 | | | | 2011 | | | | 930 | |
2012 | | | | | | | 650 | | | | 1,000 | | | | 2012 | | | | 1,580 | |
2013 | | | | | | | 355 | | | | 1,355 | | | | 2013 | | | | 1,935 | |
2014 | | | | | | | 40 | | | | 1,400 | | | | 2014 | | | | 1,975 | |
Total | | | | | | | | | | | | | | | | | | | 1,975 | |
Geographies | | | Q3 2010 | | | | Q2 2010 | | | | Q1 2010 | | | | Q4 2009 | | | | Q3 2009 | |
US | | | 32 | % | | | 34 | % | | | 30 | % | | | 37 | % | | | 32 | % |
EU | | | 61 | % | | | 56 | % | | | 60 | % | | | 57 | % | | | 63 | % |
ROW | | | 7 | % | | | 10 | % | | | 10 | % | | | 6 | % | | | 5 | % |
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Balance Sheet | | | Q3 2010 | | | | Q2 2010 | | | | Q1 2010 | | | | Q4 2009 | | | | Q3 2009 | |
Cash** | | $ | 438 | | | $ | 737 | | | $ | 877 | | | $ | 927 | | | $ | 802 | |
Depreciation | | $ | 26.4 | | | $ | 24.6 | | | $ | 24.7 | | | $ | 24.3 | | | $ | 21.4 | |
DSO | | | 44 | | | | 46 | | | | 58 | | | | 41 | | | | 48 | |
Inv Days | | | 60 | | | | 84 | | | | 83 | | | | 43 | | | | 58 | |
Headcount | | | 5,573 | | | | 5,358 | | | | 5,264 | | | | 5,178 | | | | 5,160 | |
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Manufacturing Metrics | | | Q3 2010 | | | | Q2 2010 | | | | Q1 2010 | | | | Q4 2009 | | | | Q3 2009 | |
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Grams / Watt | | | 5.3 | | | | 5.3 | | | | 5.5 | | | | 5.5 | | | | 5.6 | |
MW Produced | | | 152.1 | | | | 137.9 | | | | 135.4 | | | | 130.2 | | | | 110.0 | |
**Cash includes Cash, Cash Equivilents, Restricted Cash and Investments | | | | | |
** This supplementary information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements, which do not represent historical facts, include statements regarding (a) expected GAAP and non-GAAP revenue, gross margins, earnings per share, tax rate, share count and capital expenditures, and (b) expected ramp up of manufacturing capacity. Such forward-looking statements are based on information available to the company as of the date of this presentation and involve a number of risks and uncertainties, some beyond the company's control that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties described in the company's investor presentation of 11/11/2010, earnings release dated 11/11/2010 and Annual Report for the year ended 1/3/2010, and Quarterly Report for the quarter ended 7/4/2010, and other filin gs with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date, and the company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.