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Ok.. That one brought tears to my eyes.. ROFLOLOLOLOLOL!!!!!
MtnLady.. <Prejudice (prejudging without understanding) is man's (and satan's) creation - not God's.>
Amen..
I saw a great documentary on the History of Religions on A&E the other night. One discovery in particular emphasises on man's manipulation of the sacred writings. Apparently, king Ptolemy (II?) disapproved of the circulation (content) of Christ's teachings written by his disciples at the time, and quickly outlawed the text. What is now the New Testament is Ptolemy's edited version of the New Testament. He found it at his leisure to make whatever changes he deemed fit.
Adding support to your statement, the variances of the bible interpretations is evident as we have so many subdivisions of Christianity. Lutheran, Baptist, Mormon, etc... and not least Catholicism.
mlsoft... Bush's drug abuse is well known.. I'm not surprised you chose not to know.
IS BUSH NUTS?
by William Thomas
Senior reporter Lifeboat News (http://www.lifeboatnews.com/)
Feb. 12, 2003
What drives a man to go against the wishes of his countryfolk and the entire world community - including the presidents of Russia, China, France and Germany?
How can a professed Christian continue to defy church leaders worldwide - including the Bishops of Britain and the Pope? How does he rationalize breaking the commandments of his God, which clearly prohibit coveting another´s property, theft of their oil, and mass murder of defenseless populations?
How can he ignore his own generals when they complain, "We´re advocating a policy that says we will invade another nation that is not currently attacking us or invading any of our allies." [Capitol Hill Blue Jan, 22, 2003]
To those who deem it unseemly to count the brick´s on one man´s load, let us recall that this unelected President is one brick short of killing what the UN fears could be up to a half-million people in Iraq. This massacre could easily see Pakistan´s government - and its 30 to 40 nukes - falling to an al Qaeda/Taliban majority. Bush´s announced plans to attack North Korea and Iran have already prompted both countries to hit the nuclear gas pedal, virtually assuring a "nuclear event". And his $5 trillion blowout has taken the American economy to a $2 trillion deficit in two short years. As ignored global warming triggers Extreme Weather Events, rightened Nobel price-winning economists warn that GW´s proposed $600 billion tax cut is "fiscal madness" - "a very serious economic error" that will collapse the country in exactly the same way the ex-Soviet Empire went bust buying and deploying so many arms in so many places. Ditto Imperial Rome.
Are these the acts of a rational person? Not since Nixon´s famous freak-outs in the White House, which saw National Security Adviser Henry Kissinger ordering military commanders to ignore
nuclear launch orders from their Commander-In-Chief, is it so urgent that we examine a president´s cognitive capacities. [The Trial of Henry Kissinger]
It might be useful to scrutinize the following findings. While everyone "goes nuts" from time to time, the salient question is whether traits described below dominate and drive today´s presidential decisions. Is a man called by other government reps, "an idiot" "an imbecile" "dangerously incompetent" and "a moron" competent, capable and qualified to direct America´s unchallenged military might?
Read on. If you dare.
PATTERN RECOGNITION
"Is The ´President´ Nuts?" asks Carol Wolman, M.D. "Many people, inside and especially outside this country, believe that the American president is nuts, and is taking the world on a suicidal path." [Counterpunch Oct. 2, 2002]
A board-certified psychiatrist in practice for 30 years, Dr. Wolman feels compelled to understand the "psychopathology" of man "under tremendous pressure from both his family/junta, and from the world at large." Dr. Wolman wonders if GW is suffering from Antisocial Personality Disorder, as described in the Diagnostic and Statistical Manual Fourth Edition: "There is a pervasive pattern of disregard for and violation of the rights
of others: 1) failure to conform to social norms with respect to lawful behaviors as indicated by repeatedly performing acts that are grounds for arrest; 2) deceitfulness, as indicated by repeated lying, use of aliases, or conning others for personal profit or pleasure; 5) reckless disregard for safety of self or others; 7) lack of remorse by being indifferent to or rationalizing having hurt, mistreated or stolen from others."
DRY DRUNK
GW Bush is highly regarded for "kicking" the twin demons of cocaine and alcohol addiction. If he is still off both wagons - and there is no proof that isn´t - such a triumph, encouraged and aided by his wife, is commendable. When probing the mysteries of GW´s brain chemistry, a key point to ponder is that damage done to brain cells from drug abuse is permanent and irreversible.
Quaker and university professor Katherine van Wormer co-authored the definitive, 2002, Addiction Treatment. This expert writes that "George W. Bush manifests all the classic patterns of what alcoholics in recovery call ´the dry drunk´. His behavior is consistent with being brought on by years of heavy drinking and possible cocaine use." [Counterpunch Oct. 11, 2002]
"Dry drunk," explains the professor, "is a slang term used by members and supporters of Alcoholics Anonymous and substance abuse counselors to describe the recovering alcoholic who is no longer drinking - one who is dry, but whose thinking is clouded."
Such an individual is ´dry´ but not truly sober. Such individuals tend to go to overboard. A good example of Bush´ "polarized thinking" is his call for "crusades" based on "infinite justice" for "evil-doers" comprising an "axis of evil".
Bush´s "obsessive repetition" also remind this professor, "of many of the recovering alcoholics/addicts I had treated." Van Wormer worriers, "His power, in fact, is such that if he collapses into paranoia, a large part of the world will collapse with him."
Paranoia? Impatience? Rigid judgmental outlook? Grandiose behavior? Childish behavior? Irresponsible behavior? Irrational rationalization? Projection? Overreaction? - these are all "dry drunk" traits.
Van Wormer observers that Bush´s pompous pledge: "We must be prepared to stop rogue states and their terrorist clients before they are able to threaten or use weapons of mass destruction" is a projection from the world´s leading rogue state preparing to attack with nuclear weapons.
"Bush´s tendency to dichotomize reality" should be emphasized. Prof. van Wormer describes this is as either/or reasoning - "either you are with us or against us". A White House spokesperson puts it this way: "The President considers this nation to be at war, and, as such, considers any opposition to his policies to be no less than an act of treason.´´ [Capitol Hill Blue Jan, 22, 2003]
BUSH´S BINGES - HISTORY IMPACTS THE PRESENT
Bush´s binges were legendary. Van Wormer describes "years of binge drinking starting in college, at least one conviction for DUI in 1976 in Maine, and one arrest before that for a drunken episode involving theft of a Christmas wreath." She adds:
"The Bush biography reveals the story of a boy named for his father, sent to the exclusive private school in the East where his father´s reputation as star athlete and later war hero were still remembered. The younger George´s achievements were dwarfed in the school´s memory of his father.
Athletically he could not achieve his father´s laurels, being smaller and perhaps less strong. His drinking bouts and lack of intellectual gifts held him back as well. His military record was mediocre as compared to his father´s as well. [He went AWOL] "
In Fortunate Son, Bush himself explained: "Alcohol began to compete with my energies ... I´d lose focus". Though he once said he couldn´t remember a day he hadn´t had a drink, he quickly added the giveaway phrase that he didn´t believe he was "clinically alcoholic".
Van Wormer notes that "Bush drank heavily for over 20 years until he made the decision to abstain at age 40. About this time he became a ´born again Christian´ - going as usual from one extreme to the other." When asked in an interview about his reported cocaine use, he answered reasonably, "I´m not going to talk about what I did 20 to 30 years ago".
One motive driving Dubya could be his need "to prove himself to his father - to achieve what his father failed to do - to finish the job of the Gulf War, to get the ´evildoer´ Saddam." Adds van Wormer, "His drive to finish his father´s battles is of no small significance, psychologically."
BRAIN DAMAGE
According to Van Wormer, "scientists can now observe changes that occur in the brain as a result of heavy alcohol and other drug abuse. Some of these changes may be permanent."
Van Wormer characterizes this damage as "barely noticeable but meaningful." Researchers have found that brain chemistry irregularities caused by long bouts of drinking or drug abuse cause "messages in one part of the brain to become stuck there. This leads to maddening repetition of thoughts."
One of these powerful "stuck" thoughts, says van Wormer, is that "President Bush seems unduly focused upon getting revenge on Saddam Hussein (´He tried to kill my Dad´), leading the country and the world into war, accordingly."
Grandiosity is another major trait of former addicts brain-damaged by their addiction. Bush has reversed the successful, five-decade old U.S. policy of containment and no first strikes. Now he says, Americans can attack anyone, anywhere at any time with any weapons of their choosing - including banned
cluster bomb munitions, radioactive explosives and nuclear bombs.
AN AGENT OF ARMAGEDDON?
According to the Diagnostic and Statistical Manual, a person suffering from Narcissistic Personality Disorder, "Has a grandiose sense of self-importance-exaggerates achievements and talents, expects to be recognized as superior without commensurate achievements."
Sound familiar?
This personality is preoccupied with fantasies of power and being loved. Such a person requires "automatic compliance". He or she is "exploitative" of others, "lacks empathy, is unwilling to recognize or identify with the feelings and needs of others." And also "shows arrogant, haughty behavior or attitudes."
"This set of characteristics," says Dr. Wolman, not too reassuringly, "may describe Rumsfeld and Cheney better than Dubya." For those who, like Nobel Prize winner Joseph Stieglitz, warn that Bush "has been captured by a small group of ideologues," Dependent Personality Disorder describes someone who "has difficulty making everyday decisions without an excessive amount of advice and reassurance from others." [CBC
Feb. 10, 2003]
From a Jungian perspective, writes Dr. Wolman, "Dubya may be identifying with an archetype - something out of Revelations, perhaps, whereby he sees himself as an instrument of God´s will to bring about Armageddon." Concurs Katherine van Wormer, "To fight evil, Bush is ready to take on the world, in almost a Biblical sense."
A PRESIDENTIAL PATHOLOGY
Is Bush´s belligerence bent on securing another oil fix? Katherine van Wormer believes that a Portland peace protestor´s sign, "Drunk on Power" nailed it. Says this quiet Quaker, "The drive for power can be an unquenchable thirst, addictive in itself."
Senator William Fulbright agrees. His bestseller, The Arrogance of Power defined power politics as the pursuit of power. "The causes and consequences of war may have more to do with pathology than with politics," Fulbright wrote.
A key "dry drunk" trait is impatience. Bush, who often describes himself as "a patient man", is not. Just four weeks after inspectors went into Iraq, he called for obliterating Baghdad. "If we wait for threats to fully materialize", Bush pointed out to West Pointers, "we will have waited too long". Translations: It´s okay to attack projections of our own fearful imaginings - in case those phantom threats someday become real.
Alan Bisbort´s "Dry Drunk - Is Bush Making a Cry for Help?" appeared in American Politics Journal. Bisbort believes that Bush´s "incoherence" when speaking away from prepared scripts is a classic sign of addicted brain damage. For Bisbort, another "dry drunk" tip-off is Dubya´s irritability with
anyone who dares disagree with him - including Germany´s new leader, who insists he is opposing Bush´s folly in Iraq as a concerned long-time friend of America. (Schroeder´s wife is American.)
Another "Dry drunk" sign says van Wormer, is Dubya´s "dangerous obsessing about only one thing (Iraq) to the exclusion of all other things." Van Wormer´s bottom line prognosis: "George W. Bush seems to possess the traits characteristic of addictive persons who still have the thought
patterns that accompany substance abuse. The fact that some residual effects from his earlier substance abuse - however slight - might cloud the U.S. President´s thinking and judgment is frightening, however, in the context of the current global crisis."
DON´T LAUGH
The Toronto Star recounts how NYU author and media critic Mark Crispin Miller attempted to catalogue GW´s verbal gaffes. Some favorites: "The vast majority of our imports come from outside the country." "If we don´t succeed, we run the risk of failure." "The future will be better tomorrow." "He meant it for a laugh," wrote the Star. "Not now."
The author of Boxed In: The Culture of TV believes "Bush is not an
imbecile. He´s not a puppet. I think that Bush is a sociopathic
personality. I think he´s incapable of empathy. He has an inordinate sense of his own entitlement, and he´s a very skilled manipulator. And in all the snickering about his alleged idiocy, this is what a lot of people miss."
Miller´s judgment - that an unelected president might suffer from a
clinical personality disorder - is much heavier than being called the
global village idiot. "He has no trouble speaking off the cuff when he´s speaking punitively, when he´s talking about violence, when he´s talking about revenge. When he struts and thumps his chest, his syntax and grammar are fine," Miller mentions. "It´s only when he leaps into the wild blue yonder of compassion, or idealism, or altruism, that he makes these hilarious mistakes."
Bush even has trouble repeating comforting clichés. "Fool me once, shame... shame on ... you," Long, uncomfortable pause. "Fool me - can´t get fooled again!" While the world was laughing, Miller saw something darker. "What´s revealing about this is that Bush could not say, ´Shame on me´ to save his
life. That´s a completely alien idea to him. This is a guy who is
absolutely proud of his own inflexibility and rectitude," wrote Miller.
Miller says that Bush saying, "I know how hard it is to put food on your family" is not ´cause he´s stupid, but "because he doesn´t care about people who can´t put food on the table."
When Bush is envisioning "a foreign-handed foreign policy," Miller contends it´s because he can´t keep his focus on things that mean nothing to him. "When he tries to talk about what this country stands for, or about democracy, he can´t do it," Miller observes.
According to Miller, this is why GW is so closely watched by his handlers. "Not because he´ll say something stupid," the Star paraphrased, "but because he´ll overindulge in the language of violence and punishment at which he excels."
"He´s a very angry guy, a hostile guy," Miller says. "He´s much like Nixon. So they´re very, very careful to choreograph every move he makes. They don´t want him anywhere near protestors, because he would lose his temper."
Adds this media expert, "It would be a grave mistake to just play him for laughs."
DEPRESSION CAN BE DANGEROUSLY DEPRESSING
Confronted by a man who will not listen to anyone but a few "chickenhawks" urging worldwide war, why shouldn´t we feel depressed? Not surprisingly, we do.
Seventy percent of U.S. pastors constantly fight depression. Right now, almost three million Canadians are seriously depressed. (Multiply by four or five for approximate U.S. figures.) We can´t blame GW for this. Or the fact that suicide is the 3rd leading cause of death in 15 to 24 year olds.
But as the man responsible for perpetrating a worldwide bummer, George isn´t helping! [www.tonycooke.org; National Institute of Mental Health]
If it´s politically incorrect to ask these questions, how "correct" is it
to launch 800 cruise missiles and thousands of one-ton bombs on a captive urban population already suffering the ravages of deliberately imposed hunger and disease?
CHOKA COLA?
Another big clue to Dubya´s displays of dementia comes in "photo-ops" showing him slugging back diet Coke with other Aspartame addicts, like Chicago´s mayor Richard Daley. Their beet red faces spell either embarrassment over Bush´s hijacking of America, or aspartame poisoning.
[Chicago Sun Times, Sept. 27, 2002]
According to Carol Guilford, an Aspartame expert and support worker, the President-Select´s "pretzel" pratfall was most likely an Aspartame seizure. Bush, like Carter, Al Gore and millions of Americans, is addicted to this constant caffeine hit. Among the FDA´s listed 92 symptoms for Aspartame poisoning are: "Difficulty Swallowing", "Fainting" and "Unconsciousness". Bush´s facial lesions, removed as a result of "Too much sun" is another
sign of Aspartame poisoning. So was his recent knee surgery: Aspartame depletes synovial fluid lubricating the joints.
Would you drink 6 to 12 cans of formaldehyde a day? It turns out that methanol in Aspartame converts to formaldehyde in the tissues. As Guildford wrote to USN Captain Eleanor Marino, Physician to the President (Feb. 21, 2002): 10% of a 200mg can of diet soda is straight methanol wood alcohol! Methanol is such a gross cumulative poison, the EPA´s limit for drinking
water is 7.8 mg daily. For serious addicts like Bush, the methanol intake can exceed 32 times the EPA´s recommended limit..
Now the punch line: Clinical case studies shows that, among other symptoms, Aspartame ingestion results in "mind fog", feeling "unreal", poor memory, confusion, anxiety, irritability, depression, mania, and slurred speech.
[Neurology 1994]
Alcohol-related brain damage is not helped by chugging formaldehyde. James Turner, consumer protection lawyer and author of The Chemical Feast learned that an Oct. 1980 FDA inquiry found that the formaldehyde formed by Aspartame actually eats microscopic holes and triggers tumors in the brain.
That finding banned Aspartame from the food supply. But three months later, Searle CEO Donald Rumsfeld told that pharma giant´s sales staff he would get Aspartame approved pronto. The next month, the FDA commissioner was replaced by Dr. Arthur Hayes. In Nov. 1983 the FDA approved aspartame for soft drinks. Under fire for accepting corporate bribes, Hayes went to work
for Searle´s public-relations firm. Searle lawyer Robert Shapiro coined the name NutraSweet. Monsanto bought Searle. Rumsfeld received $12 million for his help. Shapiro now heads Monsanto.
The same "revolving door" swings wide for arms makers and the oil mafia.
The Big Question is: Why hasn´t Dick warned George that the diet drinks he´s swilling are eating his brain and making him crazy?
Crazy? Am I calling the President-Select of the Excited States crazy? Not me. As a journalist, I can only point out that published medical evidence goes frighteningly far in explaining GW´s behavior. For certain, this good ol´ boy should go in for a brain scan before being allowed to command more firepower than the next 11 nations combined. If George W. Bush is not crazy
- he´s sure acting like it.
<Which one is it.>
Both.. If you read the article again, I think he said he had more reasons, but didn't want to ruin the journalist's lunch.
Sylvester...
I must agree with Greg's opinion. The "deserve one another" statement has negative connotation particularly in referrence to Zeev, which I too, find ill deserved.
Good... That means less weight on our current deficit.
jbennett...
People of Islam are also descendents of Abraham.
mlsoft. <I am not aware of those charges being true?>
Of course you wouldn't. Though, I do wonder if you did as much research to Bush' charges as you did with Clinton's.
<contempt for any moral values whatsoever >
Despite Clinton's inability to think with just one head, I think he did more for this nation's majority (middle class and lower) than Bush ever attempted. For that, I think your opinion is flawed.
John 8:7
"Let he who has not sin throw the first stone."
BullnBear..
A solid 66% majority of Americans favor the use of military force against Iraq, as long as the U.S. has sufficient backing for military action from major allies. But there is a growing belief that the U.S. does not yet have enough international support to conduct the war following the Feb. 14 report by U.N. weapons inspectors Hans Blix and Mohamed ElBaradei and the mixed reception it received from members of the U.N. Security Council – as well as weekend antiwar protests around the world.
We don't have sufficient backing from major allies.
mlsoft...<clinton's lack of moral values>
Does Bush's record of adultery, illegal drug abuse and suspicious insider sales qualify as lack of morals in your eyes?
Just for the record, I wasn't crazy about Clinton either.
mlsoft,
I'm not referring to polls. I mean a real vote count in each county with the American people. That way, we will know which side will lose or win.
<I think you forget that the job of leaders is to lead>
Lead us to greater good, then I couldn't agree with you more. But I see Bush leading us to disasters and I myself do not wish to be a lemming & follow him over his cliff.
< only the US should decide what is in our best interests.>
You mean US as in BUSH or US as in the American citizens of the United States US? Lets have a democratic vote on whether we (American citizens) should bring Democracy to Iraq and her people.
<Taking out iraq does nothing at all about terrorism.>
It has little to do with terrorism. Much to do with greed for power and black gold IMO.
If he isn't, I am.
Yes, unfortunate isn't it that God forbids abortions yet allows killing in his name.
The disprepancies of man's interpretation of the bible is why I'm agnostic.
How do you spell wannabe dictators ?
1..B-U-S-H,
2..R-U-M-S-F-E-L-D,
3..A-S-H-C-R-O-F-T
4..All of the above
<N Korea blackmail>
Now that's the pot calling the kettle black. Who threatened an embargo on N Korea's energy supply ?
China's markets is booming, haven't you noticed? As for who supplies their technology, they're stealing it for now. But don't underestimate them.
One of the main reasons why US economy boomed during WWII is because we sat on the sideline producing other countries goods while they squander their economy away to WAR. What do you think China is doing now?
If you think China will succumb to US bullying, you're dead wrong. China is independent of US powers and Bush knows it. Why do you think Bush is hesitant in being so harsh with N Korea?
Why would the world's largest army not able to reign N Korea? Besides, why would they want to when playing brotherhood with Korea is more politically beneficial? I think your hypothesis is farfetched...
Try
http://ttrader.com
Free. charts have to be less than 100kb to post.
Yes, I heard the below %50 last night. Its about time!!
ROFLMAO!!!!
<there seems to be a generalized lack of will to speak out against the war>
If you mean with the Dems leaders, I agree. I surmise they're waiting for the pro Bush poll numbers to sway below the 50% before displaying what little backbones they have. Its all about the votes.
Frankly, I'm fed up with both parties. Disgusted with BUSH.
<mountain out of a mole hill >
Perhaps in the story, but the principal is large IMO.
Maine...
<``They were hearing comments like, 'The pending war in Iraq is unethical' and 'Anybody who would fight that war is also unethical,''' >
That sounds lke a biased political statement to me. As a parent, I would be upset.
Lets say you were called to serve, but yet you share the views that we shouldn't be there, does that make you unethical?
Best,
Ditto..
Maine... Despite my anti war stance, I agree with Baldacci. Political views should be preempted from schoolgrounds, the same goes with religion. Children are too young to intellectualize such difficult topics to form an objective opinion of their own, thus are easily influenced by authory figures. Such matters should be left to parents. JMHO
Finishing an ED from recent low of 10ish. I think a revisit to that level is in the cards. Hourly MACD crossing over now.
How do spell imperialism? B U S H
<because it has no weapons-and not because it has.>
Precisely. You don't see Bush in a hurry to attack N Korea. Aside to being a real threat, Kim Jong has big sticks and big brother China to meddle with.
<But my wife has also lived through revolutions and riots>
I'm sorry to hear that. I too lived through revolutions and riots, and I did not care for the horror. I'm surprised your wife's views is different despite her experiences. Perhaps the difference between us is, I have young children.
I realize it would be unrealistic to wish for a Utopia of some kind in this world, but a step towards that idealism is far better in my eyes than to chose the War path. Eespecially when it has yet proved to be the only solution.
<the "war" is more like doing income taxes, something necessary but rotten.>
I disagree. Besides being a poor comparison, both are not always necessary. You don't have to file income taxes if you don't have any form of income.
<The role of governments is to defend their countries.>
Agreed, IF we are attacked. We have not been attacked by Iraq. We were attacked by Osama Bin Laden and his Al Quaeda network. I have no problems declaring war on Al Quaeda. Kill the SOBs.
Do you have children that's prime to serve in the military?
mike_m.. Our exchange was civil until you gave me "baloney" instead of proof. And now you're calling me a buffoon. Now really, who is the REAL buffoon here? Oh rightous holier than thou one.
<Still it's better than you deserved.>
Why? Because I disagree with you? Oh.. rightous holier than thou one.
must be the MRVL flu .
Congrats if you're short.
Call for Popeye.. or Greenie
mrvl..
Marvell Technology Group Ltd.
Consolidated Statements of Operations
(Unaudited)
(In thousands, except per share amounts)
Three Months Ended Year Ended
--------------------- ---------------------
February 1, February 2, February 1, February 2,
2003 2002 2003 2002
-------- --------- -------- ---------
Net revenue $150,847 $ 82,816 $505,285 $ 288,795
Cost of goods sold 70,301 35,736 233,039 130,807
-------- --------- -------- ---------
Gross profit 80,546 47,080 272,246 157,988
Operating expenses:
Research and
development 42,697 27,441 145,722 93,422
Selling and marketing 12,860 10,542 48,491 40,170
General and
administrative 3,556 3,143 14,303 13,191
Amortization of stock-
based compensation 830 2,763 7,491 15,022
Amortization and
write-off of goodwill
and acquired
intangible assets 43,676 104,508 107,645 418,032
Facilities
consolidation charge - - 19,562 -
-------- --------- -------- ---------
Total operating
expenses 103,619 148,397 343,214 579,837
-------- --------- -------- ---------
Operating loss (23,073) (101,317) (70,968) (421,849)
Interest and other
income, net 1,603 2,751 7,318 9,994
-------- --------- -------- ---------
Loss before income taxes (21,470) (98,566) (63,650) (411,855)
Provision for
income taxes 2,764 1,304 8,524 3,299
-------- --------- -------- ---------
Net loss $(24,234) $ (99,870) $(72,174) $(415,154)
======== ========= ======== =========
Basic and diluted net
loss per share $ (0.20) $ (0.86) $ (0.61) $ (3.63)
======== ========= ======== =========
Weighted average shares
-- basic and diluted 120,410 116,395 119,240 114,353
-------- --------- -------- ---------
Marvell Technology Group Ltd.
Pro Forma Consolidated Statements of Operations
(Unaudited)
(In thousands, except per share amounts)
Three Months Ended Year Ended
--------------------- ---------------------
February 1, February 2, February 1, February 2,
2003 2002 2003 2002
-------- --------- -------- ---------
Net revenue $150,847 $ 82,816 $ 505,285 $ 288,795
Cost of goods sold 70,301 35,736 233,039 130,011
-------- --------- -------- ---------
Gross profit 80,546 47,080 272,246 158,784
Operating expenses:
Research and
development 42,697 27,441 145,722 93,422
Selling and marketing 12,860 10,542 48,491 40,170
General and
administrative 3,556 3,143 14,303 13,191
-------- --------- -------- ---------
Total operating
expenses 59,113 41,126 208,516 146,783
-------- --------- -------- ---------
Operating income 21,433 5,954 63,730 12,001
Interest and other
income, net 1,603 2,751 7,318 9,994
-------- --------- -------- ---------
Income before
income taxes 23,036 8,705 71,048 21,995
Provision for
income taxes 2,764 1,304 8,524 3,299
-------- --------- -------- ---------
Pro forma net income $ 20,272 $ 7,401 $ 62,524 $ 18,696
======== ========= ======== =========
Basic pro forma net
income per share $ 0.17 $ 0.06 $ 0.52 $ 0.16
======== ========= ======== =========
Diluted pro forma net
income per share $ 0.16 $ 0.06 $ 0.48 $ 0.15
======== ========= ======== =========
Weighted average
shares -- basic 120,410 116,395 119,240 114,353
-------- --------- -------- ---------
Weighted average
shares -- diluted 129,327 131,265 129,750 127,779
-------- --------- -------- ---------
Reconciliation to GAAP
net loss:
Pro forma net income $ 20,272 $ 7,401 $ 62,524 $ 18,696
Amortization of stock-
based compensation (830) (2,763) (7,491) (15,022)
Amortization and
write-off of goodwill
and acquired
intangible assets (43,676) (104,508) (107,645) (418,032)
Facilities
consolidation charge - - (19,562) -
Amortization of
inventory fair value
adjustment - - - (796)
-------- --------- -------- ---------
GAAP net loss $(24,234) $ (99,870) $ (72,174) $(415,154)
======== ========= ======== =========
The above pro forma statements of operations are for informational
purposes only and are provided for understanding our operating
results. The pro forma statements of operations have not been prepared
in accordance with GAAP, should not be considered a substitute for our
historical financial information prepared in accordance with GAAP and
may be different from pro forma measures used by other companies. The
pro forma income has been derived by adjusting the net loss under
generally accepted accounting principles with the impact of non cash
stock-based compensation charges, charges associated with purchase
accounting, charges for facilities consolidation and the write-off of
a trade name.
Marvell Technology Group Ltd.
Consolidated Balance Sheets
(Unaudited)
(In thousands)
February 1, February 2,
Assets 2003 2002
---------- ----------
Current assets:
Cash and cash equivalents $ 125,316 $ 114,483
Short-term investments 139,912 135,761
Accounts receivable, net 86,175 42,150
Inventory, net 39,712 23,600
Prepaid expenses and other current assets 19,979 23,422
---------- ----------
Total current assets 411,094 339,416
Property and equipment, net 69,246 52,924
Goodwill and acquired intangible assets 1,570,643 1,680,740
Other noncurrent assets 49,313 17,975
---------- ----------
Total assets $2,100,296 $2,091,055
========== ==========
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable $ 47,672 $ 30,990
Accrued liabilities 26,955 25,838
Income taxes payable 2,247 17,744
Deferred revenue 12,481 8,907
Current portion of capital
lease obligations 5,019 1,039
---------- ----------
Total current liabilities 94,374 84,518
Capital lease obligations 13,755 10,017
Other long-term liabilities 42,029 6,793
---------- ----------
Total liabilities 150,158 101,328
---------- ----------
Shareholders' equity:
Common stock 243 238
Additional paid-in capital 2,674,095 2,646,757
Deferred stock-based compensation (5,899) (10,099)
Accumulated other comprehensive income 1,988 946
Accumulated deficit (720,289) (648,115)
---------- ----------
Total shareholders' equity 1,950,138 1,989,727
---------- ----------
Total liabilities and
shareholders' equity $2,100,296 $2,091,055
========== ==========
CONTACT: Marvell Technology Group Ltd.
Mike Tate, 408/222-9291
<Baloney>
Didn't expect any better response than that from you.