Linear Technology Reports Quarterly and Year over Year Increases in Revenues and Earnings Per Share and Increases Its Quarterly Cash Dividend From $0.18 to $0.21 Per Share

                    LINEAR TECHNOLOGY CORPORATION
       RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME
               (In thousands, except per share amounts)

                 Three Months Ended             Six Months Ended
          ---------------------------------   ---------------------
          Dec. 30,    Sep. 30,   Dec. 31,     Dec. 30,    Dec. 31,
            2007        2007       2006         2007        2006
          ---------   --------- -----------   ---------   ---------

Reported
 net
 income
 (GAAP
 basis)   $ 93,755    $ 91,475    $105,012    $185,230    $217,401

 Stock-
  based
  comp-
 ensation
  (1)       14,682      13,944      17,761      28,626     34,8477

 Income
  tax
  effect
  of non-
  GAAP
  adjust-
 ments      (4,405)     (4,044)     (4,973)     (8,447)    (10,308)
          ---------   --------- -----------   ---------   ---------

Non-GAAP
 net
 income   $104,032    $101,375    $117,800    $205,409    $241,940
          =========   ========= ===========   =========   =========

Non-GAAP earnings per share excluding the effects of stock-based
 compensation:
 Basic    $   0.47    $   0.45    $   0.39    $   0.92    $   0.81
          =========   =========   =========   =========   =========
 Diluted  $   0.46    $   0.45    $   0.39    $   0.91    $   0.80
          =========   =========   =========   =========   =========

Shares used in the calculation of Non-GAAP earnings per share:
 Basic     223,494     224,093     299,724     223,137     300,385
          =========   =========   =========   =========   =========
 Diluted   225,647 (2) 227,591 (2) 303,005 (2) 226,075 (3) 303,845 (3)
          =========   =========   =========   =========   =========


1) Linear began expensing stock options in the first quarter of fiscal year 2006.

2) Excludes 1,472, 1,639 and 1,954 shares for the three months ended December 30, 2007, September 30, 2007 and December 31, 2006, respectively, to conform diluted outstanding shares calculated under FAS123R to diluted shares calculated under prior accounting standards.

3) Excludes 1,612 and 1,929 shares for the six months ended December 30, 2007 and December 31, 2006, respectively, to conform diluted outstanding shares calculated under FAS123R to diluted shares calculated under prior accounting standards.

The Company's non-GAAP measures set forth above exclude charges related to stock-based compensation. The Company's management uses non-GAAP net income and non-GAAP net income per diluted share to evaluate the Company's current operating results and financial results and to compare them against historical financial results. The Company excludes stock-based compensation expenses and the related tax effects primarily because they are significant non-cash expense estimates which management separates for consideration when evaluating and managing business operations.

In addition, the Company believes that providing investors with these non-GAAP measurements enhances their ability to compare the Company's business against that of its many competitors who employ and disclose similar non-GAAP measures. This financial measure may be different from non-GAAP methods of accounting and reporting used by the Company's competitors to the extent their non-GAAP measures include other items. The presentation of this additional information should not be considered a substitute for net income or net income per diluted share prepared in accordance with GAAP.

Contact:

Linear Technology Corporation
Paul Coghlan, 408-432-1900
Vice President, Finance



« Previous Page 1 | 2 | 3             



Review Article Be the first to review this article
Rand3D

SolidCAM: Cutting Webinar

Editorial
Jeff RoweJeff's MCAD Blogging
by Jeff Rowe
First Look At SOLIDWORKS 2018
Jobs
Analyst Programmer for Palm Beach County at West Palm Beach, FL
Architectural Designer for Champion Home Builders at Troy, MI
Mapping & GIS Sales Rep for California Surveying & Drafting Supply at Sacramento, CA
Upcoming Events
ATE SOLIDWORKS Innovation Day 2017 at LIFELONG LEARNING INSTITUTE LEVEL 2 @ 11 EUNOS ROAD 8 SINGAPORE Singapore - Oct 5, 2017
Additive Manufacturing Conference 2017 at Knoxville Convention Center 701 Henley Street Knoxville TN - Oct 10 - 12, 2017
ASSESS 2017 CONGRESS at Bolger Center Potomac MD - Nov 1 - 3, 2017
FABTECH 2017 at McCormick Place Chicago IL - Nov 6 - 9, 2017
MasterCAM



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise