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NOVELLUS SYSTEMS INC (NVLS)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-11Dec-31-10Dec-31-09Dec-31-08Dec-31-07Dec-31-06Dec-31-05Dec-31-04
   10-K10-K10-K10-K10-K10-K10-K10-K
Revenues:  
    Semiconductor Group  1,243.71,284.5569.3837.71,395.71,547.51,236.51,299.9
    Asia  1,219.51,379.0550.3773.51,162.6369.4304.6295.0
    United States  390.0313.6189.3312.2    
    Europe  112.367.681.7189.7188.6125.7119.372.0
Total revenues  1,352.91,349.2639.21,011.01,570.01,658.51,340.51,357.3
            Revenue growth   [+]0.3%111.1%-36.8%-35.6%-5.3%23.7%-1.2%46.7%
Cost of goods sold  688.1683.8398.1575.1800.9834.2741.3692.2
Gross profit  664.7665.3241.1435.9769.2824.3599.1665.1
            Gross margin  49.1%49.3%37.7%43.1%49.0%49.7%44.7%49.0%
Selling, general and administrative  177.6189.5164.1224.2266.0261.4206.9194.7
Research and development  186.0174.7149.1219.7241.0244.2247.3252.1
Other operating expenses  -0.1   -8.010.7  
EBITDA   [+]336.2341.1-25.355.4337.1377.8227.6307.6
            EBITDA margin  24.9%25.3%-4.0%5.5%21.5%22.8%17.0%22.7%
Depreciation  32.236.442.263.366.969.782.889.2
EBITA  304.0304.7-67.4-7.9270.2308.0144.9218.4
            EBITA margin  22.5%22.6%-10.6%-0.8%17.2%18.6%10.8%16.1%
Amortization of intangibles  2.83.64.7     
EBIT   [+]301.2301.1-72.1-7.9270.2308.0144.9218.4
            EBIT margin  22.3%22.3%-11.3%-0.8%17.2%18.6%10.8%16.1%
Non-recurring items   [+]-0.41.43.8104.1 3.39.213.0
Interest income, net   [+]-10.15.67.510.632.023.517.29.4
Other income (expense), net  1.7-0.7-0.9-5.712.610.75.78.4
Pre-tax income  293.1304.7-69.4-107.1314.8338.9158.6223.2
Income taxes  42.542.315.98.6101.1149.948.566.5
            Tax rate  14.5%13.9%  32.1%44.2%30.6%29.8%
Net income  250.7262.3-85.2-115.7213.7190.0110.1156.7
            Net margin  18.5%19.4%-13.3%-11.4%13.6%11.5%8.2%11.5%
   
Basic EPS   [+]$3.29$2.83($0.88)($1.18)$1.78$1.52$0.80$1.07
Diluted EPS   [+]$3.20$2.79($0.88)($1.18)$1.75$1.50$0.80$1.06
   
Shares outstanding (basic)   [+]76.292.796.598.1120.1125.2137.6146.4
Shares outstanding (diluted)   [+]78.394.196.598.1122.1126.9137.6147.8
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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