EXHIBIT 99.1
CALIFORNIA MICRO DEVICES CORPORATION
Condensed Statements of Operations
(Amounts in thousands, except per share data)
(Unaudited)
Three Months Ended Year Ended
March 31, March 31,
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2002 2001 2002 2001
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Net sales $ 8,156 $ 12,039 $ 29,944 $ 57,534
Costs and expenses:
Cost of sales 9,833 9,965 38,153 39,366
Research and development 966 803 3,884 3,405
Selling, marketing and administrative 3,468 2,670 11,521 11,364
Special charges - - 4,155 -
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Total costs and expenses 14,267 13,438 57,713 54,135
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Operating income (loss) (6,111) (1,399) (27,769) 3,399
Other expense, net 235 98 836 811
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Income (loss) before income taxes (6,346) (1,497) (28,605) 2,588
Income taxes - (31) - 52
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Net income (loss) $ (6,346) $ (1,466) $ (28,605) $ 2,536
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Net income (loss) per share - basic $ (0.46) $ (0.13) $ (2.33) $ 0.23
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Net income (loss) per share - diluted $ (0.46) $ (0.13) $ (2.33) $ 0.20
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Weighted average common shares
outstanding - basic 13,777 11,383 12,272 11,243
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Weighted average common shares
outstanding - diluted 13,777 11,383 12,272 12,384
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CALIFORNIA MICRO DEVICES CORPORATION
Condensed Balance Sheets
(Amounts in thousands, except share data)
March 31, March 31,
2002 2001
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ASSETS:
Current assets:
Cash and short-term securities $ 7,240 $ 6,597
Accounts receivable, less allowance
for doubtful accounts of $161 and $279 4,561 8,068
Inventories 2,784 11,716
Other assets 679 1,451
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Total current assets 15,264 27,832
Property, plant and equipment, net 10,853 14,372
Restricted cash 888 914
Other long-term assets 1,232 1,151
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Total assets $ 28,237 $ 44,269
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LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable $ 5,085 $ 3,471
Accrued salaries and benefits 1,224 1,135
Other accrued liabilities 3,121 657
Deferred margin on shipments to distributors 1,193 772
Current maturities of long-term debt and
capital lease obligations 2,256 1,594
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Total current liabilities 12,879 7,629
Long-term debt, less current maturities 7,069 8,947
Other long-term liabilities 509 533
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Total liabilities 20,457 17,109
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Shareholders' equity
Common stock - no par value; authorized 25,000,000; 67,732 58,509
issued and outstanding 13,850,765 shares
Accumulated other comprehensive income (loss) 2 -
Accumulated deficit (59,954) (31,349)
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Total shareholders' equity 7,780 27,160
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Total liabilities and shareholders' equity $ 28,237 $ 44,269
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