MOLX » Topics » Financing Activities

These excerpts taken from the MOLX 10-K filed Aug 6, 2008.
Financing Activities
 
In order to fund the cash portion of our investment in Woodhead made during fiscal 2007, we entered into two term notes aggregating 15 billion Japanese yen ($141.3 million) and borrowed $44.0 million on our unsecured revolving credit line that was repaid the same year. The term notes are due in September 2009, with weighted-average fixed interest rates approximating 1.3%. In order to fund stock repurchases during fiscal 2008, we borrowed $125.0 million on our unsecured revolving line of credit, $75.0 million of which was repaid during fiscal 2008.
 
We purchased shares of Common Stock and Class A Common Stock totaling 8.0 million shares, 1.2 million shares and 6.0 million shares during fiscal years 2008, 2007 and 2006, respectively. The aggregate cost of these purchases was $199.6 million, $34.9 million and $165.3 million in fiscal years 2008, 2007 and 2006, respectively.
 
Our Board of Directors authorized the repurchase of up to an aggregate $200.0 million of common stock through June 30, 2008. Substantially all funds were used under the authorization as of June 30, 2008. On August 1, 2008, our Board of Directors authorized a repurchase of up to an aggregate $200.0 million of common stock through June 30, 2009.
 
We have sufficient cash balances and cash flow to support our planned growth. As part of our growth strategy, we may, in the future, acquire other companies in the same or complementary lines of business, and pursue other business ventures. The timing and size of any new business ventures or acquisitions we complete may impact our cash requirements and debt balances.


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Table of Contents

Financing
Activities



 



In order to fund the cash portion of our investment in Woodhead
made during fiscal 2007, we entered into two term notes
aggregating 15 billion Japanese yen ($141.3 million)
and borrowed $44.0 million on our unsecured revolving
credit line that was repaid the same year. The term notes are
due in September 2009, with weighted-average fixed interest
rates approximating 1.3%. In order to fund stock repurchases
during fiscal 2008, we borrowed $125.0 million on our
unsecured revolving line of credit, $75.0 million of which
was repaid during fiscal 2008.


 



We purchased shares of Common Stock and Class A Common
Stock totaling 8.0 million shares, 1.2 million shares
and 6.0 million shares during fiscal years 2008, 2007 and
2006, respectively. The aggregate cost of these purchases was
$199.6 million, $34.9 million and $165.3 million
in fiscal years 2008, 2007 and 2006, respectively.


 



Our Board of Directors authorized the repurchase of up to an
aggregate $200.0 million of common stock through
June 30, 2008. Substantially all funds were used under the
authorization as of June 30, 2008. On August 1, 2008,
our Board of Directors authorized a repurchase of up to an
aggregate $200.0 million of common stock through
June 30, 2009.


 



We have sufficient cash balances and cash flow to support our
planned growth. As part of our growth strategy, we may, in the
future, acquire other companies in the same or complementary
lines of business, and pursue other business ventures. The
timing and size of any new business ventures or acquisitions we
complete may impact our cash requirements and debt balances.





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Table of Contents







This excerpt taken from the MOLX 10-Q filed Oct 31, 2006.

Financing Activities


Due to the cash investments made during the three months ended September 30, 2006, we adjusted our capital structure by increasing our cash and debt balances by $171.7 million. We entered into two borrowing agreements aggregating approximating 15 billion Japanese yen ($127.7 million).  Both agreements have three-year terms with weighted-average fixed interest rates approximating 1.3%. We also borrowed $44.0 million on our unsecured revolving line of credit with a floating rate of interest.


We purchased 162,500 shares of Common Stock and Class A Common Stock during the three months ended September 30, 2006, at an aggregate cost of $5.0 million and 1,973,000 shares of Common Stock and Class A Common Stock during the three months ended September 30, 2005, at an aggregate cost of $50.1 million. We use shares repurchased to replenish stock used for exercises of employee stock options, employee stock awards and our Employee Stock Purchase Plan.


Our Board of Directors previously authorized the repurchase of up to an aggregate $250.0 million of common stock though December 31, 2006.  On October 27, 2006, the Board of Directors extended this authorization through September 30, 2007.  Approximately $45 million was remaining under the authorization as of September 30, 2006.


We have a strong cash balance and cash flow.  As part of our growth strategy, in the future we may acquire other companies in the same or complementary lines of business and pursue other business ventures.  The timing and size of any new business ventures or acquisitions we complete may impact our cash requirements.


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This excerpt taken from the MOLX 10-K filed Aug 3, 2006.

Financing Activities


Cash was used primarily for the payment of dividends and the purchase of treasury stock.  We purchased shares of Common Stock and Class A Common Stock totaling 6.0 million shares, 2.4 million shares and 2.7 million shares during fiscal years 2006, 2005 and 2004, respectively. The aggregate cost of these purchases was $165.3 million, $58.2 million and $70.2 million in fiscal years 2006, 2005 and 2004, respectively.


Our Board of Directors previously authorized the repurchase of up to an aggregate $250.0 million of common stock though December 31, 2006. Approximately $50.1 million was remaining under the authorization as of June 30, 2006.


We have a strong cash balance and cash flow and a low level of debt.  We believe at this time that share repurchases are a good investment as compared with investing our cash in short-term money instruments or marketable securities, particularly with the current low interest rates.  We also use shares repurchased to replenish stock used for exercises of employee stock options and employee stock awards.


As part of our growth strategy, we may, in the future, acquire other companies in the same or complementary lines of business, and pursue other business ventures.  The timing and size of any new business ventures or acquisitions we complete may impact our cash and borrowing requirements.


35




This excerpt taken from the MOLX 10-Q filed May 2, 2006.

Financing Activities


Cash was used primarily for the payment of dividends and the purchase of treasury stock.  We purchased 5,083,000 shares of Common Stock and Class A Common Stock during the nine months ended March 31, 2006, at an aggregate cost of $135.0 million and 940,000 shares of Class A Common Stock during the nine months ended March 31, 2005, at an aggregate cost of $23.6 million.


Our Board of Directors previously authorized the repurchase of up to an aggregate $250.0 million of common stock though December 31, 2006. Approximately $80.4 million was remaining under the authorization as of March 31, 2006.


We have a strong cash balance and cash flow and very little debt.  We believe at this time that share repurchases are a good investment as compared with investing our cash in short-term money instruments or marketable securities, particularly with the current low interest rates.  We also use shares repurchased to replenish stock used for exercises of employee stock options, employee stock awards and our Employee Stock Purchase Plan.


As part of our growth strategy, in the future we may acquire other companies in the same or complementary lines of business and pursue other business ventures.  The timing and size of any new business ventures or acquisitions we complete may impact our cash requirements.


This excerpt taken from the MOLX 10-Q filed Feb 2, 2006.

Financing Activities


Cash was used primarily for the payment of dividends and the purchase of treasury stock.  We purchased 3,683,000 shares of Common Stock and Class A Common Stock during the six months ended December 31, 2005, at an aggregate cost of $95.1 million and 940,000 shares of Class A Common Stock during the six months ended December 31, 2004, at an aggregate cost of $23.6 million.


Our Board of Directors previously authorized the repurchase of up to an aggregate $250.0 million of common stock though December 31, 2006. Approximately $120.3 million was remaining under the authorization as of December 31, 2005.


We have a strong cash balance and cash flow and very little debt.  We believe at this time that share repurchases are a good investment as compared with investing our cash in short-term money instruments or marketable securities, particularly with the current low interest rates.  We also use shares repurchased to replenish stock used for exercises of employee stock options, employee stock awards and our Employee Stock Purchase Plan.


As part of our growth strategy, in the future we may acquire other companies in the same or complementary lines of business and pursue other business ventures.  The timing and size of any new business ventures or acquisitions we complete may impact our cash requirements.


This excerpt taken from the MOLX 10-Q filed Nov 4, 2005.

Financing Activities


Cash was used primarily for the payment of dividends and the purchase of treasury stock.  We purchased 1,973,000 shares of Common Stock and Class A Common Stock during the three months ended September 30, 2005, at an aggregate cost of $50.1 million and 875,000 shares of Class A Common Stock during the three months ended September 30, 2004, at an aggregate cost of $21.9 million.


Our Board of Directors previously authorized the repurchase of up to an aggregate $250.0 million of common stock though December 31, 2006. Approximately $165.3 million was remaining under the authorization as of September 30, 2005.


We have a strong cash balance and cash flow and very little debt.  We believe at this time that share repurchases are a good investment as compared with investing our cash in short-term money instruments or marketable securities, particularly with the current low interest rates.  We also use shares repurchased to replenish stock used for exercises of employee stock options, employee stock awards and our Employee Stock Purchase Plan.


As part of our growth strategy, we may, in the future, acquire other companies in the same or complementary lines of business, and pursue other business ventures.  The timing and size of any new business ventures or acquisitions we complete may impact our cash requirements.




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This excerpt taken from the MOLX 10-K filed Sep 12, 2005.

Financing Activities

Cash was used primarily for the payment of dividends and the purchase of treasury stock. The Company purchased 2,395,000 shares of Common and Class A Common Stock during fiscal 2005 at an aggregate cost of $58.2 million and 2,740,000 shares during fiscal 2004 at an aggregate cost of $70.2 million.

The Company’s Board of Directors previously authorized the discretionary purchase of up to $100.0 million of Common Stock and/or Class A Common Stock during fiscal 2005. On April 25, 2005, the Company’s Board of Directors replaced this $100 million authorization with a new authorization of a discretionary purchase program that expires December 31, 2006 and increased the aggregate value of any future purchases to $250 million.

Molex has a strong cash balance and cash flow and very little debt. The Company believes at this time that share repurchases are a good investment as compared with investing its cash in short-term money instruments or marketable securities, particularly with the current low interest rates. The Company also uses shares repurchased to replenish stock used for exercises of employee stock options, employee stock awards and the Employee Stock Purchase Plan.

As part of its growth strategy, the Company may, in the future, acquire other companies in the same or complementary lines of business, and pursue other business ventures. The timing and size of any new business ventures or acquisitions the Company completes may impact its cash requirements.

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