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Solectron buys back $132 million LYONs
New York, March 20 - Solectron Corp. said it bought back $132 million of its Liquid Yield Option Notes during the fiscal second quarter.
The repurchases were made through open-market purchases, the Milpitas, Calif. electronic manufacturing services company said.
The buybacks of the LYONs resulted in a pre-tax gain of $4 million.
Solectron said it used its "strong cash generation" to fund the repurchases.
During the quarter, Solectron generated $292 million of operating cash flow and $272 million of free cash flow.
"We continue to strengthen our balance sheet, generating cash and reducing debt," said chief financial officer Kiran Patel during the company's earnings conference call.
As previously reported, during the first quarter Solectron bought back $216 million of its LYONs.
Solectron has two series of the zero-coupon convertibles outstanding.
Lattice Semiconductor buys back $32.8 million convertibles
New York, March 20 - Lattice Semiconductor Corp. said it bought back $32.8 million of its 4¾% convertible subordinated notes due 2006 in the first quarter.
The Hillsboro, Ore. programmable logic device manufacturer said in a filing with the Securities and Exchange Commission that it paid $29.9 million in cash for the securities, resulting in a gain of $2.9 million.
The repurchase follows buybacks of $51.9 million during 2002 for $42.8 million in cash. At Dec. 31, 2002, the end of fiscal 2002, Lattice had $208.1 million of the notes outstanding.
The company originally issued $260 million of the convertibles in 1999.
Lattice said it may buy back more convertibles, depending on availability, pricing, market conditions and other factors.
Solectron buys back $132 million LYONs
New York, March 20 - Solectron Corp. said it bought back $132 million of its Liquid Yield Option Notes during the fiscal second quarter.
The repurchases were made through open-market purchases, the Milpitas, Calif. electronic manufacturing services company said.
The buybacks of the LYONs resulted in a pre-tax gain of $4 million.
Solectron said it used its "strong cash generation" to fund the repurchases.
During the quarter, Solectron generated $292 million of operating cash flow and $272 million of free cash flow.
"We continue to strengthen our balance sheet, generating cash and reducing debt," said chief financial officer Kiran Patel during the company's earnings conference call.
As previously reported, during the first quarter Solectron bought back $216 million of its LYONs.
Solectron has two series of the zero-coupon convertibles outstanding.
Lattice Semiconductor buys back $32.8 million convertibles
New York, March 20 - Lattice Semiconductor Corp. said it bought back $32.8 million of its 4¾% convertible subordinated notes due 2006 in the first quarter.
The Hillsboro, Ore. programmable logic device manufacturer said in a filing with the Securities and Exchange Commission that it paid $29.9 million in cash for the securities, resulting in a gain of $2.9 million.
The repurchase follows buybacks of $51.9 million during 2002 for $42.8 million in cash. At Dec. 31, 2002, the end of fiscal 2002, Lattice had $208.1 million of the notes outstanding.
The company originally issued $260 million of the convertibles in 1999.
Lattice said it may buy back more convertibles, depending on availability, pricing, market conditions and other factors.
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