|
PMC-Sierra, Inc. |
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| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||
| (in thousands) | ||||||||||||
| (unaudited) | ||||||||||||
| March 28, | December 27, | |||||||||||
| 2015 | 2014 | |||||||||||
| ASSETS: | ||||||||||||
| Current assets: | ||||||||||||
| Cash and cash equivalents | $ | 64,548 | $ | 112,570 | ||||||||
| Short-term investments | 45,580 | 45,885 | ||||||||||
| Cash, cash equivalents and short-term investments | 110,128 | 158,455 | ||||||||||
| Accounts receivable, net | 62,156 | 55,414 | ||||||||||
| Inventories, net | 35,685 | 37,949 | ||||||||||
| Prepaid expenses and other current assets | 14,348 | 16,473 | ||||||||||
| Income taxes receivable | 1,966 | 1,968 | ||||||||||
| Prepaid tax expense | - | 51 | ||||||||||
| Deferred tax assets | 5,255 | 5,442 | ||||||||||
| Total current assets | 229,538 | 275,752 | ||||||||||
| Investment securities | 120,052 | 107,509 | ||||||||||
| Investments and other assets | 7,332 | 7,683 | ||||||||||
| Prepaid tax expense | 93 | 42 | ||||||||||
| Property and equipment, net | 37,370 | 37,311 | ||||||||||
| Goodwill | 283,239 | 283,239 | ||||||||||
| Intangible assets, net | 133,344 | 143,680 | ||||||||||
| Deferred tax assets | 13,123 | 13,412 | ||||||||||
| Long-term income tax receivable | 465 | 457 | ||||||||||
| $ | 824,556 | $ | 869,085 | |||||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY: | ||||||||||||
| Current liabilities: | ||||||||||||
| Accounts payable | $ | 20,357 | $ | 23,360 | ||||||||
| Accrued liabilities | 53,788 | 74,135 | ||||||||||
| Credit facility | 10,000 | - | ||||||||||
| Income taxes payable | 1,109 | 1,062 | ||||||||||
| Liability for unrecognized tax benefit | 14,820 | 16,076 | ||||||||||
| Deferred tax liabilities | 7,644 | 7,644 | ||||||||||
| Deferred income | 3,944 | 4,530 | ||||||||||
| Total current liabilities | 111,662 | 126,807 | ||||||||||
| Long-term obligations | 25,008 | 36,305 | ||||||||||
| Deferred tax liabilities | 54,209 | 53,493 | ||||||||||
| Liability for unrecognized tax benefit | 25,768 | 25,244 | ||||||||||
|
PMC special shares convertible into 205 (2014 - 278) shares of common stock |
480 | 745 | ||||||||||
| Stockholders' equity: | ||||||||||||
| Common stock and additional paid in capital | 1,603,586 | 1,595,809 | ||||||||||
| Accumulated other comprehensive loss | (2,185 | ) | (2,355 | ) | ||||||||
| Accumulated deficit | (993,972 | ) | (966,963 | ) | ||||||||
| Total stockholders' equity | 607,429 | 626,491 | ||||||||||
| $ | 824,556 | $ | 869,085 | |||||||||
PMC Reports First Quarter 2015 Results
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