linear tech dividend policy

25
Exhibit 2 Selected Linear Financial Data in Millions of June Fiscal Year 1992 1993 1994 1995 1996 Income Statement Sales 119.4 150.9 200.5 265 377.8 -Cost of Goods Sold 49.5 57 67.6 83.3 106.8 -Research and Development Expense 12.3 14.8 18.4 23.9 31.1 -Other Expenses 19.1 23.3 28 29.4 36 Income Before Taxes 38.5 55.7 86.5 128.5 203.9 -GAAP Income Taxes 13.5 19.3 29.7 43.8 69.9 Net Income 25 36.4 56.8 84.7 134 Common Shares Outstanding 280.2 285.4 290.5 294.3 298.6 Earnings Per Share $0.09 $0.13 $0.20 $0.29 $0.45 Dividends Paid – Preferred 0.0 0.0 0.0 0.0 0.0 Dividends Paid - Common 0.0 5.3 8.3 9.8 11.9 Share Price, Fiscal Year Close $2.36 $3.61 $5.50 $8.25 $7.50 DIVIDEND POLICY Payout Ratio 0.00% 14.59% 14.56% 11.61% 8.85% Dividends Per Share $0.00 $0.02 $0.03 $0.03 $0.04 Profitability Net Inocme Margin ratio (as % of sales) 21% 24% 28% 32% 35% Operating Cash Flow Ratio (as % of Sales) 16% 23% 23% 31% 25% Investment CAPEX ( as % of sales) 8.2% 5.0% 8.1% 8.3% 18.6% Cash Flow Statement Net Income 25 36.4 56.8 84.7 134 +Depreciation and Amortization 4.5 5.8 6.3 8.6 10.3 -Capital Expenditure 9.8 7.6 16.2 22.1 70.4 -Working Capital Investments 7.2 2.6 6.8 -4.5 -9.1 6.4 2.8 6.1 6.2 11.3 Operating Cash Flow 19 34.8 46.3 81.8 94.3 +Stock Issuance 11.7 9.1 13.7 7.6 12.7 -Stock Purchases 0.7 1.2 1.3 6.1 22.9 -Dividends Paid 0 5.3 8.3 9.8 11.9 0 4.7 1.5 0 0 Net Cash Flow 30 32.6 48.9 73.4 72.3 Cash and Short-Term Investments 95.3 127.9 176.8 250.2 322.5 +Tax Adjustment b -Other Items c a First thee quarters of FY2003. b The difference between the exercise price and the market value of LLTC stock could be expensed for tax

Upload: adarsh-chhajed

Post on 28-Sep-2015

12 views

Category:

Documents


2 download

DESCRIPTION

dividend policy

TRANSCRIPT

Exhibit 2Exhibit 2Selected Linear Financial Data in Millions of Dollars (Except Share Data), 19922003June Fiscal Year199219931994199519961997199819992000200120022003a$ 0.01 changeIncome StatementSales119.4150.9200.5265377.8379.3484.8506.7705.9972.6512.3440.8-Cost of Goods Sold49.55767.683.3106.8109.8137.8139.8179231.1144.7114.6-Research and Development Expense12.314.818.423.931.135.446.254.778.3102.579.867-Other Expenses19.123.32829.43629.629.626.531.428.49.418.9Income Before Taxes38.555.786.5128.5203.9204.5271.3285.7417.3610.7278.4240.3-GAAP Income Taxes13.519.329.743.869.970.290.491.4129.4183.280.769.7Net Income2536.456.884.7134134.4180.9194.3287.9427.5197.6170.6227.5