RELEASE DATE: 2006年10月24日
アルテラ、2006年度第2四半期決算を発表：
米国証券取引委員会(SEC)への書類提出を完了
アルテラ・コーポレーション（本社：米国カリフォルニア州サンノゼ、社長兼CEO：ジョン・デイナ、日本法人： 東京都新宿区西新宿、代表取締役社長：日隈 寛和、NASDAQ：ALTR）は本年10月24日、2006年度第2四半期のGAAP（一般会計原則）ベースの純利益が、2005年度第2四半期実績の6,760万ドル（希釈化後1株当り0.18ドル）に対して、7,730万ドル（希釈化後1株当り0.21ドル）であったことを発表しました。また、株式に基づく報酬費用の影響を除外した非GAAP基準の2006年度第2四半期の純利益は、9,100万ドル（希釈化後1株当り0.25ドル）でした。
2006年度第2四半期の売上は、以前発表した通り、2006度第1四半期実績の14％増、また2005年度第2四半期実績の17％増となる、3億3,410万ドルでした。新製品の売上は、前四半期実績の49％増、また前年同期実績の138％増となりました。
当四半期のGAAPベースの粗利益率は66.1％で、営業経費は1億4,070万ドルでした。当四半期の株式に基づく報酬費用の影響を除外した非GAAP基準の粗利益率は66.2％で、営業経費は1億2,250万ドルでした。
アルテラは、本年5月に自社株再購入プログラムを一時停止する以前に、当四半期中に自社普通株式44万8千株を940万ドルで買い戻しました。アルテラの保有現金および投資額は、第2四半期末で15億ドルでした。
また、アルテラは本日、同社の2005年度のForm 10-K/A 年次決算報告書、第1四半期 Form 10-Q 四半期決算報告書、および第2四半期 Form 10-Q 四半期決算報告書を、米国証券取引委員会（SEC）に提出します。
アルテラの社長、CEO（最高経営責任者）、兼会長のジョン・デイナ（John Daane）は、「当社は、本日SECに書類を提出したことで、先日発表した決算結果の追加報告を完了し、通常の四半期決算を再開することになりました。当社は、当社の財務報告が“正確で、透明性を持ち、タイムリーに報告され、法令に遵守している”という本来あるべき姿に戻すために必要な措置を講じてきました。その結果、過去の財務諸表を修正しなければならなくなったことについて、株主の皆様にお詫び申し上げます。今後も、引き続き内部統制を改善し、当社がSECに提出した報告書で確認されている重大な弱点を修正するよう努力してまいります」と述べています。
Third Quarter Results
第3四半期の決算は、米国時間11月6日、マーケット終了後に発表される予定です。
Forward-Looking Statements
Statements in this press release that are not historical are "forward-looking statements" as the term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally written in the future tense and/or preceded by words such as "will," "expects," "anticipates," or other words that imply or predict a future state. Forward-looking statements include statements relating to today's filing of Altera's periodic reports with the SEC, the timing of our third quarter earnings release, the adequacy of Altera's subsequent periodic reports, and Altera's efforts to improve internal controls and remediate an identified material weakness in the company's internal controls. Investors are cautioned that all forward-looking statements in this release involve risks and uncertainty that can cause actual results to differ from those currently anticipated, due to a number of factors, including without limitation, technical difficulties with the SEC and EDGAR system, a delay in the release of our third quarter earnings or future periodic reports, judgments required in the application of accounting standards, and delays or difficulties in improvement of our internal controls or remediation of the company's material weakness, as well as other risk factors discussed in documents filed by the company with the SEC from time to time. Copies of Altera's SEC filings are posted on the company's web site and are available from the company without charge. Forward-looking statements are made as of the date of this release, and, except as required by law, the company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
Use of Non-GAAP Financial Information
In addition to disclosing financial results calculated in accordance with U.S. GAAP, this release and accompanying financial tables contain non-GAAP financial measures to exclude the effects of the non-cash stock-based compensation expense and the related tax effects of SFAS 123R, "Share-based Payment." The non-GAAP financial measures are neither in accordance with, nor an alternative for, generally accepted accounting principles and may be different from similarly titled non-GAAP financial measures used by other companies. Accordingly, the reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures included below should be carefully evaluated. Altera believes that the use of these non-GAAP financial measures, when shown in conjunction with corresponding GAAP financial measures, provide useful information to management and investors regarding financial and business trends relating to Altera's financial condition and results of operations. Altera management uses these non-GAAP financial measures, in addition to the corresponding GAAP financial measures, to review Altera's financial performance. Non-GAAP reporting represents relevant and useful information that is widely used by financial analysts, investors and other interested parties in our industry. Altera's management believes this presentation is useful to investors in evaluating performance on a basis that is consistent and comparable with periods prior to the adoption of SFAS 123R. Since expensing stock-based compensation expense does not require cash expenditures by the company, the company's non-GAAP presentation that excludes these expenses may be a useful measure of the company's performance. A reconciliation between GAAP and non-GAAP financial results is provided on pages 4 to 6 of this release.
アルテラ・コーポレーションについて
アルテラのプログラマブル・ソリューションは、顧客企業に迅速かつコスト効率に優れた技術革新、他社製品との差別化をもたらし、顧客最終製品の市場におけるシェア拡大を実現します。アルテラに関する詳細情報は、同社Webサイト（ www.altera.com 日本語： www.altera.co.jp ）に掲載されています。
ALTERA CORPORATION
GAAP AND NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data and note)
(Unaudited)
THREE MONTHS ENDED
-----------------------------------------
June 30 July 1
2006 2005
------------------------------- ---------
GAAP (2) Adjustments Non-GAAP GAAP (2)
(1) (2)
--------- -------------------------------
Net sales $334,100 $- $334,100 $285,477
Cost of sales 113,335 (554) 112,781 90,592
--------- ----------- --------- ---------
Gross margin 220,765 554 221,319 194,885
--------- ----------- --------- ---------
Operating expenses:
Research and development 63,904 (7,977) 55,927 55,340
Selling, general, and
administrative 76,749 (10,158) 66,591 55,895
--------- ----------- --------- ---------
Total operating expenses 140,653 (18,135) 122,518 111,235
--------- ----------- --------- ---------
Income from operations 80,112 18,689 98,801 83,650
Interest and other income,
net 10,781 - 10,781 8,058
--------- ----------- --------- ---------
Income before income taxes 90,893 18,689 109,582 91,708
Provision for income taxes 13,633 4,996 18,629 24,142
--------- ----------- --------- ---------
Net income $77,260 $13,693 $90,953 $67,566
========= =========== ========= =========
Net income per share:
Basic $0.21 $0.25 $0.18
========= ========= =========
Diluted $0.21 $0.25 $0.18
========= ========= =========
Shares used in computing per
share amounts:
Basic 360,501 360,501 373,040
========= ========= =========
Diluted (as restated, for
2005) 367,092 367,092 379,693
========= ========= =========
Tax rate 15.0% 17.0% 26.3%
% of Net Sales:
Gross margin 66.1% 66.2% 68.3%
Research and development 19.1% 16.7% 19.4%
Selling, general, and
administrative 23.0% 19.9% 19.6%
Income from operations 24.0% 29.6% 29.3%
Net income 23.1% 27.2% 23.7%
Notes:
----------------------------
(1) Adjustments consist of non-cash stock-based compensation expenses
and related tax effects.
(2) The GAAP and Non-GAAP income statements above include amounts
related to our Nonqualified Deferred Compensation Plan (NQDC Plan).
The NQDC Plan had a loss of $1.0 million and a gain of $0.7 million,
respectively, for the three month periods ended June 30, 2006 and
July 1, 2005. Gains or (losses) were included in interest and other
income, net, as well as operating expenses. There was no net impact
in any period presented on income before income taxes or net income
arising from this plan.
THREE MONTHS ENDED
---------------------
NQDC Plan Impact (In June 30 July 1
Millions) 2006 2005
--------------------------- --------- -----------
(Decrease)/Increase in R&D
Expense $(0.4) $0.4
(Decrease)/Increase in SG&A
Expense (0.6) 0.3
--------- -----------
(Decrease)/Increase in
Interest and other income $(1.0) $0.7
========= ===========
ALTERA CORPORATION
GAAP AND NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data and note)
(Unaudited)
THREE MONTHS ENDED
-----------------------------------------
March 31 April 1
2006 2005
------------------------------- ---------
GAAP (2) Adjustments Non-GAAP GAAP (2)
(1) (2)
--------- -------------------------------
Net sales $292,830 $- $292,830 $264,822
Cost of sales 97,106 (523) 96,583 83,890
--------- ----------- --------- ---------
Gross margin 195,724 523 196,247 180,932
--------- ----------- --------- ---------
Operating expenses:
Research and development 62,857 (7,924) 54,933 51,389
Selling, general, and
administrative 76,249 (10,466) 65,783 54,334
--------- ----------- --------- ---------
Total operating expenses 139,106 (18,390) 120,716 105,723
--------- ----------- --------- ---------
Income from operations 56,618 18,913 75,531 75,209
Interest and other income,
net 12,433 - 12,433 4,498
--------- ----------- --------- ---------
Income before income taxes 69,051 18,913 87,964 79,707
Provision for income taxes 10,358 4,588 14,946 15,941
--------- ----------- --------- ---------
Net income $58,693 $14,325 $73,018 $63,766
========= =========== ========= =========
Net income per share:
Basic $0.16 $0.20 $0.17
========= ========= =========
Diluted $0.16 $0.20 $0.17
========= ========= =========
Shares used in computing per
share amounts:
Basic 359,479 359,479 372,881
========= ========= =========
Diluted (as restated, for
2005) 367,047 367,047 379,569
========= ========= =========
Tax rate 15.0% 17.0% 20.0%
% of Net Sales:
Gross margin 66.8% 67.0% 68.3%
Research and development 21.5% 18.8% 19.4%
Selling, general, and
administrative 26.0% 22.5% 20.5%
Income from operations 19.3% 25.8% 28.4%
Net income 20.0% 24.9% 24.1%
Notes:
----------------------------
(1) Adjustments consist of non-cash stock-based compensation expenses
and related tax effects.
(2) The GAAP and Non-GAAP income statements above include amounts
related to our Nonqualified Deferred Compensation Plan (NQDC Plan).
The NQDC Plan had a gain of $2.3 million and a loss of $1.2 million,
respectively, for the three month periods ended March 31, 2006 and
April 1, 2005. Gains or (losses) were included in interest and other
income, net, as well as operating expenses. There was no net impact
in any period presented on income before income taxes or net income
arising from this plan.
THREE MONTHS ENDED
---------------------
NQDC Plan Impact (In March 31 April 1
Millions) 2006 2005
--------------------------- --------- -----------
Increase/(Decrease) in R&D
Expense $0.9 $(0.4)
Increase/(Decrease) in SG&A
Expense 1.4 (0.8)
--------- -----------
Increase/(Decrease) in
Interest and other income $2.3 $(1.2)
========= ===========
ALTERA CORPORATION
GAAP AND NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data and note)
(Unaudited)
SIX MONTHS ENDED
-----------------------------------------
June 30 July 1
2006 2005
------------------------------- ---------
GAAP (2) Adjustments Non-GAAP GAAP (2)
(1) (2)
--------- -------------------------------
Net sales $626,930 $- $626,930 $550,299
Cost of sales 210,441 (1,077) 209,364 174,482
--------- ----------- --------- ---------
Gross margin 416,489 1,077 417,566 375,817
--------- ----------- --------- ---------
Operating expenses:
Research and development 126,761 (15,901) 110,860 106,729
Selling, general, and
administrative 152,998 (20,624) 132,374 110,229
--------- ----------- --------- ---------
Total operating expenses 279,759 (36,525) 243,234 216,958
--------- ----------- --------- ---------
Income from operations 136,730 37,602 174,332 158,859
Interest and other income,
net 23,214 - 23,214 12,556
--------- ----------- --------- ---------
Income before income taxes 159,944 37,602 197,546 171,415
Provision for income taxes 23,991 9,584 33,575 40,083
--------- ----------- --------- ---------
Net income $135,953 $28,018 $163,971 $131,332
========= =========== ========= =========
Net income per share:
Basic $0.38 $0.46 $0.35
========= ========= =========
Diluted $0.37 $0.45 $0.35
========= ========= =========
Shares used in computing per
share amounts:
Basic 359,990 359,990 372,961
========= ========= =========
Diluted (as restated, for
2005) 367,070 367,070 379,631
========= ========= =========
Tax rate 15.0% 17.0% 23.4%
% of Net Sales:
Gross margin 66.4% 66.6% 68.3%
Research and development 20.2% 17.7% 19.4%
Selling, general, and
administrative 24.4% 21.1% 20.0%
Income from operations 21.8% 27.8% 28.9%
Net income 21.7% 26.2% 23.9%
Notes:
----------------------------
(1) Adjustments consist of non-cash stock-based compensation expenses
and related tax effects.
(2) The GAAP and Non-GAAP income statements above include amounts
related to our Nonqualified Deferred Compensation Plan (NQDC Plan).
The NQDC Plan had a gain of $1.3 million and a loss of $0.5 million,
respectively, for the six month periods ended June 30, 2006 and July
1, 2005. Gains or (losses) were included in interest and other
income, net, as well as operating expenses. There was no net impact
in any period presented on income before income taxes or net income
arising from this plan.
SIX MONTHS ENDED
---------------------
NQDC Plan Impact (In June 30 July 1
Millions) 2006 2005
--------------------------- --------- -----------
Increase/(Decrease) in R&D
Expense $0.5 $-
Increase/(Decrease) in SG&A
Expense 0.8 (0.5)
--------- -----------
Increase/(Decrease) in
Interest and other income $1.3 $(0.5)
========= ===========
ALTERA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
(Unaudited)
June 30 March 31 December 30
2006 2006 2005
----------- ----------- -----------
(b) (as
restated)
Assets
Current assets:
Cash and short-term investments $1,256,809 $1,087,546 $1,166,588
Accounts receivable, net 200,604 169,957 80,509
Inventories 77,819 66,766 70,711
Deferred compensation plan assets 63,004 66,487 61,567
Other current assets 133,272 114,577 115,826
----------- ----------- -----------
Total current assets 1,731,508 1,505,333 1,495,201
Long-term investments 203,841 172,328 115,965
Property and equipment, net 171,951 171,307 165,999
Deferred income taxes and other
assets, net 53,454 53,713 50,531
----------- ----------- -----------
$2,160,754 $1,902,681 $1,827,696
=========== =========== ===========
Liabilities and Stockholders'
Equity
Current liabilities:
Accounts payable and current
liabilities $284,988 $233,832 $244,385
Deferred compensation plan
obligations 63,004 66,487 61,567
Deferred income and allowances on
sales to distributors 367,806 280,833 258,285
----------- ----------- -----------
Total current liabilities 715,798 581,152 564,237
Capital lease obligations 3,484 3,678 3,871
Stockholders' equity 1,441,472 1,317,851 1,259,588
----------- ----------- -----------
$2,160,754 $1,902,681 $1,827,696
=========== =========== ===========
Key Ratios & Information
Current Assets/Current Liabilities 2:1 3:1 3:1
Liabilities/Equity 1:2 1:2 1:2
Annualized YTD Return on Equity 20% 18% 21%
Quarterly Depreciation Expense $7,418 $7,070 $7,038
Quarterly Capital Expenditures $8,062 $12,378 $7,665
Annualized Sales per Employee $508 $487 $498
Number of Employees 2,594 2,451 2,361
Inventory MSOH (a): Altera 2.1 2.1 2.3
Inventory MSOH (a): Distribution 1.5 1.4 1.4
Days Sales Outstanding 55 53 26
(a) MSOH: Months Supply On Hand
(b) These numbers have been adjusted from those previously announced
to reflect the cumulative restatement adjustments made to the
consolidated balance sheet as of December 30, 2005. Refer to 2005
10K/A for details.
ALTERA CORPORATION
REVENUE SUMMARY
(Unaudited)
Q-Q Y-Y
Q2'06 Q1'06 Q2'05 Growth Growth
--------- --------- --------- -------- --------
Geography
---------------------
North America 25% 26% 24% 12% 26%
--------- --------- ---------
Europe 24% 25% 25% 9% 13%
Japan 24% 25% 25% 8% 10%
Asia Pacific 27% 24% 26% 29% 20%
--------- --------- ---------
International 75% 74% 76% 15% 14%
--------- --------- ---------
Total 100% 100% 100% 14% 17%
========= ========= =========
Product Category
---------------------
New 17% 13% 8% 49% 138%
Mainstream 36% 36% 32% 15% 32%
Mature & Other 47% 51% 60% 5% -8%
--------- --------- ---------
Total 100% 100% 100% 14% 17%
========= ========= =========
Market Segment
---------------------
Communications 44% 44% 43% 13% 19%
Industrial 34% 33% 31% 16% 27%
Consumer 13% 13% 16% 19% -2%
Computer & Storage 9% 10% 10% 9% 8%
--------- --------- ---------
Total 100% 100% 100% 14% 17%
========= ========= =========
FPGAs and CPLDs
---------------------
FPGA 70% 71% 69% 12% 18%
CPLD 21% 19% 20% 27% 25%
Other 9% 10% 11% 4% -3%
--------- --------- ---------
Total 100% 100% 100% 14% 17%
========= ========= =========
Product Category Description
-------------------------------
Category Products
New Stratix II, Stratix II GX, Cyclone II, MAX II,
HardCopy and HardCopy II
Mainstream Stratix, Stratix GX, Cyclone, and MAX 3000A
Mature & Other Classic, MAX 7000, MAX 7000A, MAX 7000B, MAX
7000S, MAX 9000, FLEX 6000, FLEX 8000, FLEX
10K, FLEX 10KA, FLEX 10KE, APEX 20K, APEX 20KE,
APEX 20KC, APEX II, ACEX 1K, Mercury,
Excalibur, configuration and other devices,
intellectual property cores, and software and
other tools
| プレスコンタクト： | ||
|
Investor Relations, Scott Wylie Altera Corporation (408) 544-6996 swylie@altera.com Corporate Communications Altera Corporation (408) 544-6397 newsroom@altera.com |
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