Overview of FY2006 Third Quarter Financial Results (Consolidated)
(Prepared in accordance with U.S. GAAP)
January 26, 2007
Company name Advantest Corporation (Stock code number: 6857, TSE 1st Section)
(URL http://www.advantest.co.jp/investors/) (Ticker Symbol: ATE, NYSE)
Company representative: Toshio Maruyama, Representative Board Director, President and CEO
Contact Person: Hiroshi Nakamura, Executive Officer, Vice President of the Corporate Affairs Group
(TEL (03) 3214-7500)
1. Notes to the Quarterly Financial Results:
(1) Use of simplified accounting method: Yes
Simplified tax effect accounting is used for the calculation of
tax expenses for the purpose of the quarterly financial results.
(2) Changes in accounting method from the most recent fiscal year: No
(3) Changes in scope of consolidation and equity method (as compared to March 31, 2006): Yes
Number of consolidated subsidiaries: 40
(Newly included) 0
(Excluded) 0
Number of unconsolidated subsidiaries: 0
Number of affiliates accounted for under the equity method: 1
(Newly included) 1
(Excluded) 0
(4) Advantest's independent outside auditor has not been involved in the preparation of
these consolidated quarterly financial statements.
2. Consolidated Financial Results of FY2006 3Q (April 1, 2006 through December 31, 2006)
(1)Consolidated Financial Results
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Net sales Operating income Income before income taxes Net income
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Million yen % increase Million yen % increase Million yen % increase Million yen % increase
(decrease) (decrease) (decrease) (decrease)
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FY2006 Q3 166,222 (5.0) 40,100 (0.9) 43,309 0.6 27,791 7.1
FY2005 Q3 174,906 (7.6) 40,453 (21.9) 43,065 (18.6) 25,941 (18.9)
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(For reference) FY2005 253,922 64,458 67,454 41,374
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Net income per share Net income per share
(basic) (diluted)
Yen Yen
FY2006 Q3 148.62 147.66
FY2005 Q3 140.17 139.59
(For reference) FY2005 223.17 221.98
(Notes)
1. The percentages shown in the above items including net sales and operating
income are changes in comparison to the corresponding period of the
previous fiscal year.
2. On October 1, 2006, a one to two stock split was made to shares of the
common stock in respect of shareholders recorded in the register as of
September 30, 2006. Basic net income per share and diluted net income per
share for this third quarter were calculated based on the number of issued
and outstanding shares after such stock split. Accordingly, per share
information for the third quarter ended March 31, 2006 and for the fiscal
year ended March 31, 2006 have been recalculated for adjustment.
(Qualitative Information Regarding Consolidated Financial Results)
During this third quarter (a period of nine months from April 1, 2006 to
December 31, 2006), although there were inventory adjustment of LCD panels and
reduction of capital expenditures by some semiconductor manufactures,
Advantest's operating environment remained steady, as supported by capital
expenditures for personal computers and digital consumer devices. During the
first half of this fiscal period, capital expenditures for digital consumer
devices such as flat-panel TVs and game players were favorable, and capital
expenditures increased for DRAM semiconductors used in personal computers for a
new operating system during the latter half of this fiscal period.
Under this environment, Advantest made concentrated effort to increase
order input received and expand sales with a focus of providing overall test
solutions with the best products and services that meet various customers'
demands. In addition, Advantest continued to make efforts to improve the quality
of products and to reduce costs by promoting further the just-in-time production
system in its manufacturing process. As a result of the above, in the third
quarter, orders input received was (Y) 173.1 billion (12.2% decrease in
comparison to the corresponding third quarter of the previous fiscal year),
sales was (Y) 166.2 billion (0.5% decrease), net income before income taxes was
(Y) 43.3 billion (0.6% increase), and net income was 27.8 billion (7.1%
increase). Overseas sales as a percentage of total sales was 63.9%, as compared
with 68.9% in the corresponding third quarter of the previous fiscal year.
(Results by Business Segment)
With respect to the semiconductor and component test system segment, in the
memory semiconductor test system market, demand for test systems for DRAM
semiconductors was positive because the price of DRAM semiconductors was stable
and investment in DDR2-DRAM semiconductors used in personal computers for a new
operating system increased rapidly in Korea and Taiwan, among other countries,
from the latter half of this fiscal period. Demand for test systems for flash
memory semiconductors, however, was low due to restrained capital expenditures
resulting from a significant price decline of flash memory semiconductors.
In the market of non-memory semiconductor test system, sales of the SOC
semiconductor test systems for devices used in consumer digital products was
steady in Japan. However, capital expenditures were low with respect to the test
systems for non-memory semiconductors used in MPU or LCD driver IC. As a result
of the above, orders input received was (Y) 121.5 billion, sales was (Y) 117.3
billion and operating income was (Y) 34.6 billion. In the mechatronics system
segment, due to a strong demand especially for handlers for DRAM semiconductors
and devise interface products, orders input received was (Y) 42.6 billion, sales
was (Y) 37.9 billion and operating income was (Y) 10.0 billion. In the services,
support and others segment, orders input received was (Y) 13.7 billion, sales
was (Y) 13.8 billion and operating income was (Y) 1.7 billion.
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(2)Changes in Consolidated Financial Position
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Net assets
Total assets Net assets Equity-to-assets ratio per share
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Million yen Million yen % Yen
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FY2006 Q3 348,293 283,224 81.3 1,512.13
FY2005 Q3 323,901 238,324 73.6 1,282.07
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(For reference) FY2005 350,776 257,927 73.5 1,381.85
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(Note) On October 1, 2006, a one to two stock split was made to shares of the
common stock in respect of shareholders recorded in the register as of September
30, 2006. Net assets per share for this third quarter was calculated based on
the number of issued and outstanding shares after such stock split. Accordingly,
net assets per share for the third quarter ended March 31, 2006 and for the
fiscal year ended March 31, 2006 have been recalculated for adjustment.
(Consolidated Cash Flows)
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Cash flows from Cash flows from Cash flows from Cash and cash equivalents
operating activities investing activities financing activities at end of period
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Million yen Million yen Million yen Million yen
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FY2006 Q3 29,251 (6,214) (4,839) 178,043
FY2005 Q3 30,009 (6,217) (21,001) 127,851
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(For reference) FY2005 59,480 (8,542) (18,336) 157,925
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(Qualitative Information Regarding Changes in Consolidated Financial Position)
At the end of this third quarter, total assets decreased by (Y) 2.5 billion
from the end of the previous fiscal year to (Y) 348.3 billion, mainly due to the
decrease of trade accounts receivable by (Y) 24.2 billion despite the increase
of cash and cash equivalents by (Y) 20.1 billion. Total liabilities decreased by
(Y) 27.8 billion from the end of the previous fiscal year to (Y) 65.1 billion,
mainly due to the decrease of accounts payable by (Y) 6.4 billion and other
current liabilities by (Y) 20.0 billion as a result of the payment of corporate
tax, among other things. Net assets was (Y) 283.2 billion and equity-to-assets
ratio increased by 7.8 percentage points from the end of the previous fiscal
year to 81.3%.
(Cash Flow Statements)
Cash and cash equivalents at the end of this third quarter increased by (Y)
20.1 billion from the end of the previous fiscal year to (Y) 178.0 billion.
Significant cash flows during this third quarter and their causes are described
below.
Cash flows from operating activities was an inflow of (Y) 29.3 billion,
which consisted primarily of proceeds from a decrease of trade accounts
receivable ((Y) 24.7 billion) and an expenditure due to a decrease of income
taxes payable ((Y) 14.7 billion), in addition to the net income for this quarter
period of (Y) 27.8 billion.
Cash flows from investing activities was an outflow of (Y) 6.2 billion,
which consisted primarily of capital expenditures on tangible fixed assets
including lease assets ((Y) 5.7 billion).
Cash flows from financing activities was an outflow of (Y) 4.8 billion,
which consisted primarily of dividends paid ((Y) 7.3 billion) and proceeds from
sales of treasury shares ((Y) 2.5 billion).
3. Projected Results for FY2006 (April 1, 2006 through March 31, 2007)
With respect to its earnings forecast for the fourth quarter and beyond,
Advantest anticipates that investment in DDR2-DRAM semiconductors used in
personal computers for a new operating system will increase. Advantest also
anticipates that capital expenditures on digital consumer devices including
flat-panel TVs will remain steady. On the other hand, it is Advantest's concern
that capital expenditures of some flash memory semiconductor manufacturers will
remain low, due to a decline in the price of flash memory semiconductors. In
addition, some MPU manufacturers are behind in making recoveries with respect to
their capital expenditures, and capital expenditures for LCD driver IC have not
been fully recovered due to a declined demand resulting from an inventory
adjustment of LCD panels. Accordingly, Advantest projects that it will be
difficult to achieve its previous earnings forecast for the fiscal year ending
March 31, 2007 that was released on October 27, 2006, and therefore hereby
revise the forecast, as below.
[Consolidated]
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Income before income
Net sales taxes Net income
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Million yen Million yen Million yen
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Previous forecast (A)
(As of October 27, 2006) 255,000 68,000 43,000
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Revised forecast (B) 240,000 64,000 41,000
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Difference (B)-(A) (15,000) (4,000) (2,000)
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[Non-Consolidated] (Parent Company only)
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Income before
Net sales income taxes Net income
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Million yen Million yen Million yen
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Previous forecast (A)
(As of October 27, 2006) 215,000 49,000 33,000
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Revised forecast (B) 205,000 46,000 31,000
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Difference (B)-(A) (10,000) (3,000) (2,000)
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(Note) Figures presented in the Quarterly Financial Results have been rounded to the nearest million yen.
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Cautionary Statement with Respect to Forward-Looking Statements
This document contains "forward-looking statements" that are based on
Advantest's current expectations, estimates and projections. These
forward-looking statements are subject to known and unknown risks, uncertainties
and other factors that may cause Advantest's actual results, levels of activity,
performance or achievements to be materially different from those expressed or
implied by such forward-looking statements. These factors include: (i) changes
in demand for the products and services produced and offered by Advantest's
customers, including semiconductors, communications services and electronic
goods; (ii) circumstances relating to Advantest's investment in technology,
including its ability to timely develop products that meet the changing needs of
semiconductor manufacturers and communications network equipment and components
makers and service providers; (iii) significant changes in the competitive
environment in the major markets where Advantest purchases materials, components
and supplies for the production of its products or where its products are
produced, distributed or sold; and (iv) changes in economic conditions, currency
exchange rates or political stability in the major markets where Advantest
procures materials, components and supplies for the production of its principal
products or where its products are produced, distributed or sold. A discussion
of these and other factors which may affect Advantest's actual results, levels
of activity, performance or achievements is contained in the "Operating and
Financial Review and Prospects", "Key Information - Risk Factors" and
"Information on the Company" sections and elsewhere in Advantest's annual report
on Form 20-F, which is on file with the United States Securities and Exchange
Commission
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Quarterly Consolidated Financial Statements (Summary)
1. Quarterly Consolidated Balance Sheets (Summary)
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Q3 of FY2006 FY2005 Q3 of FY2005
(As of (As of Increase (As of
December 31, 2006) March 31, 2006) (Decrease) December 31, 2005)
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Amount Amount Amount Amount
(in million Percentage (in million Percentage (in million (in million Percentage
Item Notes yen) (%) yen) (%) yen) yen) (%)
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(Assets)
Cash and cash equivalents 178,043 157,925 20,118 127,851
Trade accounts receivable,
less allowance for doubtful accounts *1 45,337 69,567 (24,230) 64,815
Inventories 35,820 29,911 5,909 37,574
Other current assets 16,572 18,230 (1,658) 20,865
-------- -------- --------- --------
Total current assets 275,772 79.2 275,633 78.6 139 251,105 77.5
Investment securities 11,342 3.3 12,273 3.5 (931) 10,803 3.3
Property, plant and equipment, net *2 49,482 14.2 50,793 14.5 (1,311) 50,298 15.5
Intangible assets, at cost,
less accumulated amortization 2,890 0.8 2,858 0.8 32 2,796 0.9
Other assets 8,807 2.5 9,219 2.6 (412) 8,899 2.8
-------- -------- --------- --------
Total assets 348,293 100.0 350,776 100.0 (2,483) 323,901 100.0
======== ======== ========= ========
====================================================================================================================================
(Liabilities)
Current portion of long-term debt 10 30 (20) 47
Trade accounts payable 26,145 32,584 (6,439) 31,940
Other current liabilities 24,143 44,131 (19,988) 37,520
-------- -------- --------- --------
Total current liabilities 50,298 14.5 76,745 21.9 (26,447) 69,507 21.5
Long-term debt, excluding current portion 5 0.0 10 0.0 (5) 15 0.0
Accrued pension and severance cost 11,193 3.2 12,292 3.5 (1,099) 12,440 3.8
Other liabilities 3,573 1.1 3,802 1.1 (229) 3,615 1.1
-------- -------- --------- --------
Total liabilities 65,069 18.7 92,849 26.5 (27,780) 85,577 26.4
-------- -------- --------- --------
(Stockholders' equity)
Common stock 32,363 9.3 32,363 9.2 - 32,363 10.0
Capital surplus 38,303 11.0 37,147 10.6 1,156 36,769 11.4
Retained earnings 265,126 76.1 245,090 69.9 20,036 230,255 71.1
Accumulated other comprehensive income (loss) *3 2,549 0.7 1,344 0.3 1,205 380 0.1
Treasury stock (55,117) (15.8) (58,017) (16.5) 2,900 (61,443) (19.0)
-------- -------- --------- --------
Total stockholders' equity 283,224 81.3 257,927 73.5 25,297 238,324 73.6
-------- -------- --------- --------
Total liabilities and stockholders' equity 348,293 100.0 350,776 100.0 (2,483) 323,901 100.0
======== ======== ========= ========
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(Notes)
1. Allowance for doubtful accounts 2,028 2,117 (89) 2,184
2. Accumulated depreciation on property,
plant and equipment 75,394 72,131 3,263 72,729
3. Accumulated other comprehensive income (loss)
Foreign currency translation adjustment 239 (1,378) 1,617 (1,563)
Net unrealized gain(loss) on securities 2,310 2,722 (412) 1,943
- 5 -
2. Quarterly Consolidated Statements of Income (Summary)
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Q3 of Q3 of
FY2006 FY2005 FY2005
April 1, 2006 April 1, 2005 April 1, 2005
through through Increase through
December 31, 2006 December 31, 2005 (Decrease) March 31, 2006
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Amount Amount Amount Amount
(in million Percentage (in million Percentage (in million (in million Percentage
Item yen) (%) yen) (%) yen) yen) (%)
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Net sales 166,222 100.0 174,906 100.0 (8,684) 253,922 100.0
Cost of sales 75,822 45.6 83,980 48.0 (8,158) 121,429 47.8
------ ------ ------ -------
Gross profit 90,400 54.4 90,926 52.0 (526) 132,493 52.2
Research and development expenses 21,984 13.2 20,014 11.4 1,970 26,927 10.6
Selling, general and administrative
expenses 28,316 17.1 30,459 17.5 (2,143) 41,108 16.2
------ ------ ------ -------
Operating income 40,100 24.1 40,453 23.1 (353) 64,458 25.4
Other income (expense):
Interest and dividend income 2,178 1,185 993 1,760
Interest expense (12) (288) 276 (290)
Other 1,043 3,209 1.9 1,715 2,612 1.5 (672) 597 1,526 2,996 1.2
----- ------ ----- ------ ----- ----- ----- ------
Income before income taxes 43,309 26.0 43,065 24.6 244 67,454 26.6
Income taxes 15,513 9.3 17,124 9.8 (1,611) 26,080 10.3
Equity in net income (loss) of
an affiliated company (5) 0.0 - - (5) - -
------ ------ ----- ------
Net income 27,791 16.7 25,941 14.8 1,850 41,374 16.3
------ ------ ----- ------
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Q3 of Q3 of
FY2006 FY2005 FY2005
April 1, 2006 April 1, 2005 April 1, 2005
through through Increase through
December 31, 2006 December 31, 2005 (Decrease) March 31, 2006
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Item Amount Amount Amount Amount
(in yen) (in yen) (in yen) (in yen)
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Net income per share
Basic 148.62 140.17 8.45 223.17
Diluted 147.66 139.59 8.07 221.98
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- 6 -
3. Quarterly Consolidated Statements of Cash Flows (Summary)
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Q3 of FY2006 Q3 of FY2005 FY2005
April 1, 2006 through April 1, 2005 through April 1, 2005 through
December 31, 2006 December 31, 2005 March 31, 2006
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Amount Amount Amount
Item (in million yen) (in million yen) (in million yen)
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I Cash flows from operating activities:
Net income 27,791 25,941 41,374
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 6,105 6,158 8,275
Changes in assets and liabilities:
Trade accounts receivable 24,686 (6,298) (11,072)
Inventories (5,906) (7,362) 108
Trade accounts payable (6,621) 7,001 7,627
Income taxes payable (14,699) 4,997 12,506
Other (2,105) (428) 662
------- ------- -------
Net cash provided by operating activities 29,251 30,009 59,480
------- ------- -------
II Cash flows from investing activities:
Purchases of property, plant and equipment (5,666) (4,952) (7,071)
Other (548) (1,265) (1,471)
------- ------- -------
Net cash used in investing activities (6,214) (6,217) (8,542)
------- ------- -------
III Cash flows from financing activities:
Principal payments on long-term debt (25) (20,021) (20,043)
Dividends paid (7,300) (4,499) (4,622)
Other 2,486 3,519 6,329
------- ------- -------
Net cash used in financing activities (4,839) (21,001) (18,336)
------- ------- -------
IV Net effect of exchange rate changes on cash and cash equivalents 1,920 4,074 4,337
------- ------- -------
V Net change in cash and cash equivalents 20,118 6,865 36,939
VI Cash and cash equivalents at beginning of period 157,925 120,986 120,986
------- ------- -------
VII Cash and cash equivalents at end of period 178,043 127,851 157,925
------- ------- -------
- 7 -
Supplemental Information to FY2006 Third Quarter Financial Results
1. Business Segment Operating Income
(Rounded to the nearest million yen)
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Q3 of FY2006 Q3 of FY2005 Increase FY2005
April 1, 2006 through April 1, 2005 through (Decrease) April 1, 2005
December 31, 2006 December 31, 2005 through March 31, 2006
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Amount (in Percentage Amount (in Percentage Amount Amount (in Percentage
million yen) (%) million yen) (%) million yen) (%)
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Semiconductor
and Component
Test System
Sales to unaffiliated customers 114,736 97.8 127,868 97.8 (13,132) 187,136 97.8
Intersegment sales 2,609 2.2 2,926 2.2 (317) 4,279 2.2
Net sales 117,345 100.0 130,794 100.0 (13,449) 191,415 100.0
Operating expenses 82,789 70.6 93,172 71.2 (10,383) 133,898 70.0
Operating income 34,556 29.4 37,622 28.8 (3,066) 57,517 30.0
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Mechatronics
System
Sales to unaffiliated customers 37,688 99.5 32,479 99.5 5,209 47,724 98.9
Intersegment sales 201 0.5 164 0.5 37 536 1.1
Net sales 37,889 100.0 32,643 100.0 5,246 48,260 100.0
Operating expenses 27,859 73.5 24,959 76.5 2,900 36,294 75.2
Operating income 10,030 26.5 7,684 23.5 2,346 11,966 24.8
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Services,
Support and
Others
Sales to unaffiliated customers 13,798 100.0 14,559 100.0 (761) 19,062 100.0
Intersegment sales - - - - - - -
Net sales 13,798 100.0 14,559 100.0 (761) 19,062 100.0
Operating expenses 12,107 87.7 11,726 80.5 381 15,209 79.8
Operating income 1,691 12.3 2,833 19.5 (1,142) 3,853 20.2
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Elimination and
Corporate
Sales to unaffiliated customers - - - - - - -
Intersegment sales (2,810) 100.0 (3,090) 100.0 280 (4,815) 100.0
Net sales (2,810) 100.0 (3,090) 100.0 280 (4,815) 100.0
Operating expenses 2,068 - 3,090 - (1,022) 2,179 -
Operating income (loss) (4,878) - (6,180) - 1,302 (6,994) -
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Consolidated
Sales to unaffiliated customers 166,222 100.0 174,906 100.0 (8,684) 253,922 100.0
Intersegment sales - - - - - - -
Net sales 166,222 100.0 174,906 100.0 (8,684) 253,922 100.0
Operating expenses 124,823 75.1 132,947 76.0 (8,124) 187,580 73.9
Operating income 41,399 24.9 41,959 24.0 (560) 66,342 26.1
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(Notes)
1. Adjustments to operating income (loss) included in Corporate mainly consist of research and development expenses for basic
research activities, which are not allocated to corporate general administrative expenses and segment by business sector.
2. Stock option compensation expense of (Y)1,299 million, (Y)1,506 million and (Y)1,884 million in this third quarter of FY2005
and FY 2005, respectively are not included in operating income in the business segment information. Therefore, these
operating income do not match with the operating income in the consolidated statements of income. Such exclusion was made
since such items are not included in the performance review of each business segment by management.
- 8 -
2. Geographic Segment Net Sales
Net sales to unaffiliated customers
(Rounded to the nearest million yen)
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Q3 of FY2006 Q3 of FY2005 FY2005
April 1, 2006 through April 1, 2005 through Increase April 1, 2005
December 31, 2006 December 31, 2005 (Decrease) through March 31, 2006
- ------------------------------------------------------------------------------------------------------------------------------------
Amount (in Percentage Amount (in Percentage Amount (in Percentage
million yen) (%) million yen) (%) Amount million yen) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Americas 8,439 5.1 18,223 10.4 (9,784) 25,516 10.0
Europe 7,905 4,8 10,166 5.8 (2,261) 14,558 5.7
Asia 89,912 54.0 92,195 52.7 (2,283) 132,708 52.3
Total Overseas 106,256 63.9 120,584 68.9 (14,328) 172,782 68.0
Japan 59,966 36.1 54,322 31.1 5,644 81,140 32.0
Consolidated 166,222 100.0 174,906 100.0 (8,684) 253,922 100.0
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3. Consolidated Net Sales by Business Segment
(Rounded to the nearest million yen)
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Q3 of FY2006 Q3 of FY2005 FY2005
April 1, 2006 through April 1, 2005 through Increase April 1, 2005
December 31, 2006 December 31, 2005 (Decrease) through March 31, 2006
- -----------------------------------------------------------------------------------------------------------------------------------
Semiconductor and Component Test System 117,345 130,794 (13,449) 191,415
Mechatronics System 37,889 32,643 5,246 48,260
Services, Support and Others 13,798 14,559 (761) 19,062
Intercompany transactions elimination (2,810) (3,090) 280 (4,815)
Total net sales 166,222 174,906 (8,684) 253,922
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4. Consolidated Orders input received and Orders Backlog by Business Segment
(Rounded to the nearest million yen)
- -----------------------------------------------------------------------------------------------------------------------------------
Q3 of FY2006 Q3 of FY2005 FY2005
April 1, 2006 through April 1, 2005 through Increase April 1, 2005
December 31, 2006 December 31, 2005 (Decrease) through March 31, 2006
- -----------------------------------------------------------------------------------------------------------------------------------
Semiconductor and Component Test System 121,540 149,689 (28,149) 195,585
Mechatronics System 42,585 36,026 6,559 49,491
Services, Support and Others 13,739 15,658 (1,919) 19,251
Intercompany transactions elimination (4,718) (4,101) (617) (4,892)
Total orders input received 173,146 197,272 (24,126) 259,435
- -----------------------------------------------------------------------------------------------------------------------------------
Q3 of FY2006 Q3 of FY2005 FY2005
(As of (As of Increase (As of
December 31, 2006) December 31, 2005) (Decrease) March 31, 2006)
- -----------------------------------------------------------------------------------------------------------------------------------
Semiconductor and Component Test System 40,410 50,941 (10,531) 36,215
Mechatronics System 12,588 10,044 2,544 7,891
Services, Support and Others 979 1,948 (969) 1,038
Intercompany transactions elimination (2,002) (1,028) (974) (93)
Total orders backlog 51,975 61,905 (9,930) 45,051
(Note) The amount of orders input received for any given period consists of the sum of the revenues for such period and the amount
of orders backlog at the end of such period less the orders backlog at the end of the previous fiscal year. Orders input
received are recorded upon receipt of a written customer order.
- 9 -
5. Consolidated Cash Flows
(Rounded to the nearest million yen)
- -----------------------------------------------------------------------------------------------------------------------------------
Q3 of FY2006 Q3 of FY2005 FY2005
April 1, 2006 through April 1, 2005 through April 1, 2005 through
December 31, 2006 December 31, 2005 March 31, 2006
- -----------------------------------------------------------------------------------------------------------------------------------
Operating activities 29,251 30,009 59,480
Investing activities (6,214) (6,217) (8,542)
(Free cash flows) 23,037 23,792 50,938
Financing activities (4,839) (21,001) (18,336)
Total cash flows 18,198 2,791 32,602
Cash and cash equivalents at end of period 178,043 127,851 157,925
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6. Consolidated Capital Expenditures, Depreciation and Amortization and Research and Development Expenses
(Rounded to the nearest million yen)
- -----------------------------------------------------------------------------------------------------------------------------------
Q3 of FY2006 Q3 of FY2005 FY2005
April 1, 2006 through April 1, 2005 through Increase April 1, 2005 through
December 31, 2006 December 31, 2005 (Decrease) March 31, 2006
- -----------------------------------------------------------------------------------------------------------------------------------
Capital expenditures 5,257 5,195 62 8,323
Depreciation and amortization 6,105 6,158 (53) 8,275
Research and development expenses 21,984 20,014 1,970 26,927
7. Number of Employees (Advantest Corporation and Consolidated Subsidiaries)
(Persons)
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Q3 of FY2006 FY2005 Increase Q3 of FY2005
(As of December 31, 2006) (As of March 31, 2006) (Decrease) (As of December 31, 2005)
- -----------------------------------------------------------------------------------------------------------------------------------
Non-Consolidated (Parent Company only) 1,466 1,445 21 1,445
Consolidated subsidiaries 2,178 2,150 28 2,146
Consolidated full-time employee total 3,644 3,595 49 3,591
- 10 -