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1997strugglingfirm.pdf-CONSOLIDATED BALANCE SHEETS (DOLLARS IN MILLIONS)
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1997strugglingfirm.pdf-CONSOLIDATED BALANCE SHEETS (DOLLARS IN MILLIONS)
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CONSOLIDATED STATEMENTS OF OPERATIONS
(DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
See accompanying notes to consolidated financial statements.
32
THREE FISCAL YEARS ENDED SEPTEMBER 26, 1997
1997
1996
1995
---------------------------------------------------------------------------------
---------
---------
---------
Net sales
........................................................................
$
7,081
$
9,833
$
11,062
---------
---------
---------
Costs and expenses:
Cost of sales
..................................................................
5,713
8,865
8,204
Research and development
.......................................................
485
604
614
Selling, general and administrative
............................................
1,286
1,568
1,583
Special charges:
In-process research and development
..........................................
375
--
--
Restructuring costs
..........................................................
217
179
(23)
Termination of license agreement
.............................................
75
--
--
---------
---------
---------
8,151
11,216
10,378
---------
---------
---------
Operating income (loss)
..........................................................
(1,070)
(1,383)
684
Interest and other income (expense), net
25
88
(10)
---------
---------
---------
Income (loss) before provision (benefit) for income taxes
........................
(1,045)
(1,295)
674
Provision (benefit) for income taxes
.............................................
--
(479)
250
---------
---------
---------
Net income (loss)
................................................................
$
(1,045) $
(816) $
424
---------
---------
---------
---------
---------
---------
Earnings (loss) per common and common equivalent share
...........................
$
(8.29) $
(6.59) $
3.45
---------
---------
---------
---------
---------
---------
Common and common equivalent shares used in the calculations of earnings (loss)
per share (in thousands)
.......................................................
126,062
123,734
123,047
---------
---------
---------
---------
---------
---------


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