TUNE » Topics » Comprehensive Income

This excerpt taken from the TUNE 10-Q filed Apr 23, 2009.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive loss at March 31, 2009 and December 31, 2008 included foreign currency translation adjustments of $1.0 million related to changing the functional currency of our German subsidiaries from the German Mark to the United States Dollar in 2000.

These excerpts taken from the TUNE 10-K filed Feb 20, 2009.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive loss at December 31, 2008 included foreign currency translation adjustments of $1.0 million related to changing the functional currency of our German subsidiaries from the German Mark to the United States Dollar in 2000.

Comprehensive Income

SFAS
No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive loss at December 31, 2008
included foreign currency translation adjustments of $1.0 million related to changing the functional currency of our German subsidiaries from the German Mark to the United States Dollar in 2000.

STYLE="margin-top:18px;margin-bottom:0px">Risk Concentrations

Financial instruments that
potentially expose Microtune to concentrations of credit risk consist primarily of trade accounts receivable. At December 31, 2008, approximately 56% of our net accounts receivable were due from five of our customers. We periodically evaluate
the creditworthiness of our customers’ financial condition and generally do not require collateral. We evaluate the collectibility of our accounts receivable based on several factors. In circumstances when we are aware of a specific
customer’s inability to meet its financial obligations to

 


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MICROTUNE, INC.

FACE="Times New Roman" SIZE="2">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

December 31, 2008

STYLE="margin-top:0px;margin-bottom:0px"> 



us, we record a specific reserve for bad debts against amounts due to us and reduce the net recorded receivable to the amount we reasonably believe will be
collected. For all other customers, we recognize allowances for doubtful accounts based on the length of time the receivables are outstanding, industry and geographic concentrations, the current business environment and our historical experience. If
the financial condition of our customers deteriorates or if economic conditions worsen, additional allowances may be required in the future. Historically, our bad debts have been insignificant and we are not currently aware of any significant
uncollectible accounts.

We depend on third-party foundries, primarily IBM, Jazz Semiconductor and X-FAB, to manufacture all of our
integrated circuit products. We do not have long-term supply agreements with our foundries but obtain integrated circuit products on a purchase order basis. The inability of a third-party foundry to continue manufacturing our integrated circuits
would have a material adverse effect on our operations. Our integrated circuit products are primarily manufactured in the United States, South Korea and the Philippines.

FACE="Times New Roman" SIZE="2">We use Ionics EMS, Inc. (Ionics) for nearly all assembly and calibration functions for our subsystem module solutions. On May 24, 2005, we entered into a five-year Manufacturing Agreement with Ionics. No purchase
commitments were included in the agreement. Ionics manufactures our products on a purchase order basis. We expect to continue to use a single provider for nearly all assembly and calibration functions for our subsystem module solutions. The
unanticipated or sudden loss of this single provider would have a material adverse effect on our results of operations. We are also dependent upon third-parties, some of whom are competitors, for the supply of components used in subsystem module
manufacturing. Our failure to obtain components for module manufacturing would significantly impact our ability to ship subsystem modules to customers in a timely manner.

FACE="Times New Roman" SIZE="2">Commitments and Contingencies

We may be subject to the possibility of loss contingencies for various
legal matters. Our discussion of legal matters includes pending litigation and matters in which any party has manifested a present intention to commence litigation related to such matters. There can be no assurance that additional contingencies of a
legal nature or having legal aspects will not be asserted against us in the future. Such matters could relate to prior transactions or events or future transactions and events. See Note 8. We regularly evaluate current information available to us to
determine whether any provisions for loss should be made. If we ultimately determine that a provision for loss should be made for a legal matter, the provision for loss could have a material adverse effect on our results of operations and financial
condition.

Our future cash commitments are primarily for long-term facility leases. See Note 8.

STYLE="margin-top:18px;margin-bottom:0px">Recent Accounting Pronouncements

In September 2006,
the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards No. 157, Fair Value Measurements (SFAS No. 157). SFAS No. 157 introduced a framework for measuring fair value and expanded
required disclosure about fair value measurements of assets and liabilities. On February 6, 2008 the FASB issued final FASB Staff Position (FSP) No. FAS 157-b, Effective Date of FASB Statement No. 157. This FSP delayed the
effective date of SFAS No. 157 for all nonfinancial assets and nonfinancial liabilities, except those that are recognized or disclosed at fair value in the financial statements on a recurring basis. In addition, the FSP removed certain
leasing transactions from the scope of SFAS No. 157.

 


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MICROTUNE, INC.

FACE="Times New Roman" SIZE="2">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

December 31, 2008

STYLE="margin-top:0px;margin-bottom:0px"> 



The effective date of SFAS No. 157 for nonfinancial assets and liabilities has been delayed by one year to fiscal years beginning after
November 15, 2008 and interim periods within those fiscal years. SFAS No. 157 for financial assets and liabilities was effective for fiscal years beginning after November 15, 2007. We do not have any transactions or balances
that were impacted by adopting SFAS No. 157.

In December 2007, the FASB issued Statement No. 141(R), Business
Combinations
(SFAS No. 141(R)) and Statement No. 160, Accounting and Reporting of Noncontrolling Interests in Consolidated Financial Statements, an amendment of ARB No. 51 (SFAS No. 160). These standards change
the financial accounting and reporting of business combination transactions and noncontrolling (or minority) interests in consolidated financial statements. SFAS No. 141(R) is required to be adopted concurrently with Statement 160 and is
effective for business combination transactions for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008. These statements did not impact our financial condition or
results of operations for past transactions.

This excerpt taken from the TUNE 10-Q filed Oct 23, 2008.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive loss at September 30, 2008 included foreign currency translation adjustments of $1.0 million related to changing the functional currency of our German subsidiaries from the German Mark to the United States Dollar in 2000.

This excerpt taken from the TUNE 10-Q filed Jul 28, 2008.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive loss at June 30, 2008 included foreign currency translation adjustments of $1.0 million related to changing the functional currency of our German subsidiaries from the German Mark to the United States Dollar in 2000.

This excerpt taken from the TUNE 10-Q filed Apr 30, 2008.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive loss at March 31, 2008 included foreign currency translation adjustments of $1.0 million related to changing the functional currency of our German subsidiaries from the German Mark to the United States Dollar in 2000.

These excerpts taken from the TUNE 10-K filed Feb 28, 2008.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive loss at December 31, 2007 included foreign currency translation adjustments of $1.0 million related to changing the functional currency of our German subsidiaries from the German Mark to the United States Dollar in 2000.

Comprehensive Income

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in
the consolidated financial statements. Accumulated other comprehensive loss at December 31, 2007 included foreign currency translation adjustments of $1.0 million related to changing the functional currency of our German subsidiaries from the
German Mark to the United States Dollar in 2000.

This excerpt taken from the TUNE 10-Q filed Oct 25, 2007.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive loss at September 30, 2007 includes foreign currency translation adjustments of $1.0 million related to changing the functional currency of our German subsidiaries from the German Mark to the United States Dollar in 2000.

This excerpt taken from the TUNE 10-Q filed Jul 26, 2007.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) at June 30, 2007 includes foreign currency translation adjustments of $1.0 million related to changing the functional currency of our German subsidiaries from the German Mark to the U.S. Dollar in 2000.

This excerpt taken from the TUNE 10-Q filed Apr 27, 2007.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) at March 31, 2007 includes foreign currency translation adjustments of $1.0 million related to changing the functional currency from the German Mark to the U.S. Dollar in 2000.

This excerpt taken from the TUNE 10-K filed Jan 22, 2007.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) at December 31, 2005 includes foreign currency translation adjustments of $1.0 million and unrealized gains or losses on investments.

This excerpt taken from the TUNE 10-Q filed Jan 22, 2007.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) at September 30, 2006 includes foreign currency translation adjustments of $1.0 million and unrealized gains or losses on investments.

 

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Table of Contents

MICROTUNE, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2006

(unaudited)

 

This excerpt taken from the TUNE 10-Q filed Jan 22, 2007.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) at March 31, 2006 includes foreign currency translation adjustments of $1.0 million and unrealized gains or losses on investments.

This excerpt taken from the TUNE 10-Q filed Jan 22, 2007.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) at June 30, 2006 includes foreign currency translation adjustments of $1.0 million and unrealized gains or losses on investments.

 

11


Table of Contents

MICROTUNE, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2006

(unaudited)

This excerpt taken from the TUNE 10-Q filed Apr 28, 2006.

Comprehensive Income

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) at March 31, 2006 includes foreign currency translation adjustments of $1.0 million and unrealized gains or losses on investments.

 

11


Table of Contents

MICROTUNE, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2006

(unaudited)

This excerpt taken from the TUNE 10-K filed Mar 3, 2006.

Comprehensive Income

 

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) at December 31, 2005 includes foreign currency translation adjustments of $1.0 million and unrealized gains or losses on investments.

 

This excerpt taken from the TUNE 10-Q filed Oct 27, 2005.

Comprehensive Income

 

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) includes foreign currency translation adjustments and unrealized gains or losses on investments.

 

This excerpt taken from the TUNE 10-Q filed Aug 1, 2005.

Comprehensive Income

 

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) includes foreign currency translation adjustments and unrealized gains or losses on investments.

 

This excerpt taken from the TUNE 10-Q filed May 2, 2005.

Comprehensive Income

 

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) includes foreign currency translation adjustments and unrealized gains or losses on investments.

 

This excerpt taken from the TUNE 10-K filed Mar 11, 2005.

Comprehensive Income

 

SFAS No. 130, Reporting Comprehensive Income, establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. Accumulated other comprehensive income (loss) includes foreign currency translation adjustments and unrealized gains or losses on investments.

 

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