Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 UNDER
THE
SECURITIES EXCHANGE ACT OF 1934
For
the Month of May 2007
Commission
file number: 000-30910
O2MICRO
INTERNATIONAL LIMITED
(Translation
of registrant’s name into English)
Grand
Pavilion Commercial Centre, West Bay Road
P.O.
Box 32331 SMB, George Town
Grand
Cayman, Cayman Islands
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
Form
20-F x Form
40-F ¨
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ¨
Note:
Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form
6-K
if submitted solely to provide an attached annual report to security holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ¨
Note:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form
6-K
if submitted to furnish a report or other document that the registrant foreign
private issuer must furnish and make public under the laws of the jurisdiction
in which the registrant is incorporated, domiciled or legally organized (the
registrant’s “home country”), or under the rules of the home country exchange on
which the registrant’s securities are traded, as long as the report or other
document is not a press release, is not required to be and has not been
distributed to the registrant’s security holders, and, if discussing a material
event, has already been the subject of a Form 6-K submission or other Commission
filing on EDGAR.
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of
1934. Yes ¨ No x
If
“Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-
Information
furnished on this Form 6-K:
On
May 2,
2007, O2 Micro International Limited (the “Company”) issued a press release
announcing its financial results for the first quarter ended March 31, 2007.
A
copy of the Company’s press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
(a)
Exhibits:
The
Exhibit Index attached hereto is hereby incorporated by reference to this Item.
(b)
EXHIBIT
INDEX
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Exhibit
Number
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Exhibit
Title
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99.1
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Press
release announcing financial results for the first quarter ended
March 31,
2007.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this Report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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O2MICRO
INTERNATIONAL LIMITED
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May
18, 2007
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By:
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Sterling
Du
Chief
Executive Officer
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O2Micro(R)
Reports First Quarter Financial Results
Wednesday
May 2, 4:00 pm ET
First
Quarter Net Sales up 20% Over Prior Year
Outlook
for Growth in All Key Markets
GEORGE
TOWN, Grand Cayman, May 2 /PRNewswire-FirstCall/ -- O2Micro® International
Limited (Nasdaq: OIIM
-
News;
SEHK:
0457
-
News),
a
leading supplier of innovative power management, and security components and
systems, reported its financial results today for the first quarter ended March
31, 2007.
Net
sales
for the first quarter of 2007 were $35.0 million, which was down 4% from the
preceding quarter, but up more than 20% from the first quarter of the prior
year. First quarter net sales reflected a normal seasonal slowdown and the
impact of the Chinese New Year.
First
quarter research and development (R&D) expenditures were $8.0 million or 23%
of net sales. The Company now employs over 605 engineers working on R&D
worldwide. In the first quarter, O2Micro's intellectual properties (IP)
portfolio expanded by 10%, with the granting of 27 new patents and their related
claims.
Net
income for the first quarter of 2007 was $99,000 or zero cents per fully diluted
American Depositary Share (ADS). First quarter net income was reduced by pre-tax
litigation expense of $3.3 million and $602,000 of pre-tax stock-based
compensation.
Sterling
Du, Chairman and CEO of O2Micro, commented, "Demand for improved battery
efficiency, better graphics, larger LCD displays and LCD HDTV are all benefiting
O2Micro. We are very encouraged by our position in the notebook computer and
hand-held electronics markets. As a result, the Company expects sales to grow
6
to 10% in the second quarter of 2007 as compared to the first quarter."
Mr.
Du
added, "The Company's long-term strategy is clear. O2Micro will continue to
leverage its large portfolio of IP and the benefits of the patent protection
program are now becoming apparent. In addition, we are using our significant
pool of engineering resources to develop new products and to secure additional
design wins with world-class manufacturers, many of which are based in Asia."
Conference
Call: O2Micro will hold its first quarter conference call today at 2:00 p.m.
PST, 5:00 p.m. EST, and 5:00 a.m. (May 3, 2007) Hong Kong time. You may
participate using the following dial-in information.
In
the US and CANADA:
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866-409-1555,
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pass
code
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#
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6475249
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In
HONG KONG:
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800-965-503,
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pass
code
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#
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6475249
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Other
INTERNATIONAL participants:
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913-312-1235,
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pass
code
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#
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6475249
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A
replay
of the call will be available by phone until May 9th using the following dial-in
information.
In
the US and CANADA:
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888-203-1112,
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pass
code
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#
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6475249
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In
HONG KONG:
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800-908-709,
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pass
code
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#
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6475249
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Other
INTERNATIONAL participants:
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719-457-0820,
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pass
code
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#
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6475249
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A
live
simulcast will also be available on the company website at www.o2micro.com,
and an
online replay will be available on the website for one week.
About
O2Micro
Founded
in April 1995, O2Micro develops and markets innovative power management, and
security components and systems for the Computer, Consumer, Industrial, and
Communications markets. Products include Intelligent Lighting, Battery
Management, Power Management, SmartCardBus® and Security products, such as
VPN/Firewall system solutions.
O2Micro
International maintains an extensive portfolio of intellectual property with
7,211 patent claims granted, and over 8,000 more pending. The company maintains
offices worldwide. Additional company and product information can be found
on
the company website at www.o2micro.com.
O2Micro,
the O2Micro logo, SmartCardBus and combinations thereof are registered
trademarks of O2Micro. All other trademarks are the property of their respective
owners.
Certain
statements in this release are forward-looking statements within the meaning
of
the Private Securities Litigation Reform Act of 1995. They include statements
regarding O2Micro's future growth, long term profitability, increases in
shareholder value, expansion of O2Micro's product and patent portfolios, legal
expenditures, litigation activity and other statements regarding O2Micro's
or
management's intentions, hopes, beliefs, expectations, representations,
projections, plans or predictions of the future. Such statements involve risks
and uncertainties that may cause actual results to differ materially from those
set forth in these statements. Factors that could cause actual results to differ
materially include risks and uncertainties such as reduced demand for products
of electronic equipment manufacturers which include O2Micro's products due
to
adverse economic conditions in general or specifically affecting O2Micro's
markets, technical difficulties and delays in the development process, and
errors in the products. You are also referred to the Form F-1 in connection
with
the company's initial public offering in August 2000, Form F-3 in connection
with the company's public offering in November 2001, and the annual reports
on
Form 20-F, which identify important risk factors that could cause actual results
to differ from those contained in the forward-looking statements. The company
assumes no obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise.
Contact
Information:
Mitchell
Benus
Director
of Investor Relations, O2Micro
Phone:
408.332.1749
O2Micro
International Limited and Subsidiaries
Consolidated
Statements of Operations and Comprehensive Income (Unaudited)
(In
Thousand U.S. Dollars, Except Per Share Amounts)
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Three
Months Ended
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March
31
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2007
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2006
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NET
SALES
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$
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35,037
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$
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29,109
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COST
OF SALES
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15,922
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12,807
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GROSS
PROFIT
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19,115
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16,302
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OPERATING
EXPENSES
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Research
and development (a)
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7,954
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7,116
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Selling,
general and
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administrative
(a)
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8,128
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6,584
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Patent
related litigation
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3,255
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2,261
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Total
Operating Expenses
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19,337
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15,961
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(LOSS)
INCOME FROM OPERATIONS
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(222
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)
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341
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NON-OPERATING
INCOME
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Interest
income
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814
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899
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Foreign
exchange gain (loss)
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(256
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)
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31
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Other
- net
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2
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43
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Total
Non-operating Income
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560
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973
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INCOME
BEFORE INCOME TAX
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338
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1,314
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INCOME
TAX EXPENSE
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239
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283
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NET
INCOME
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99
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1,031
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OTHER
COMPREHENSIVE INCOME
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Foreign
currency translation adjustments
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(11
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230
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Unrealized
gain (loss) on
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available-for-sale
securities
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707
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(85
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)
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Total
Other Comprehensive Income
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696
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145
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COMPREHENSIVE
INCOME
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$
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795
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$
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1,176
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EARNINGS
PER SHARE:
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Basic
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$
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0.0001
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$
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0.0005
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Diluted
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$
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0.0001
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$
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0.0005
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EARNINGS
PER ADS
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Basic
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$
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-
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$
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0.03
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Diluted
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$
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-
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$
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0.03
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SHARES
USED IN EARNINGS PER SHARE
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CALCULATION:
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Basic
(in thousands)
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1,907,216
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1,963,634
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Diluted
(in thousands)
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1,914,363
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1,994,263
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ADS
UNITS USED IN EARNINGS PER ADS
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CALCULATION:
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Basic
(in thousands)
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38,144
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39,273
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Diluted
(in thousands)
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38,287
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39,885
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(a)
INCLUDES STOCK-BASED
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COMPENSATION
CHARGE AS FOLLOWS:
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Research
and development
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$
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252
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$
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328
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Selling,
general and administrative
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$
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350
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$
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361
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O2Micro
International Limited and
Subsidiaries
Consolidated
Balance Sheets
(In
Thousand U.S. Dollars, Except Share Amounts)
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March
31,
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December
31,
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2007
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2006
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A
S
S E T S
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Unaudited
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CURRENT
ASSETS
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Cash
and cash equivalents
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$
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39,319
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$
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45,438
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Restricted
cash
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7,927
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8,342
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Short-term
investments
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21,889
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19,697
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Accounts
receivable - net
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23,022
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18,987
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Inventories
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15,192
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14,076
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Prepaid
expenses and other current assets
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7,451
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7,379
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Total
Current Assets
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114,800
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113,919
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LONG-TERM
INVESTMENTS
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24,760
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24,059
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PROPERTY
AND EQUIPMENT - NET
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42,234
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41,427
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OTHER
ASSETS
|
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|
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Restricted
assets - net
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13,
960
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14,540
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Other
Assets
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3,195
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3,075
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TOTAL
ASSETS
|
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$
|
198,949
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$
|
197,020
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LIABILITIES
AND SHAREHOLDERS' EQUITY
|
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CURRENT
LIABILITIES
|
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|
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Notes
and accounts payable
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$
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10,543
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$
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9,851
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Income
tax payable
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|
902
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|
991
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Accrued
expenses and other current
|
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12,391
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12,212
|
|
liabilities
|
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Total
Current Liabilities
|
|
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23,836
|
|
|
23,054
|
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|
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OTHER
LONG-TERM LIABILITIES
|
|
|
|
|
|
|
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Accrued
pension liabilities
|
|
|
441
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|
455
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Long-term
Interpretation 48 tax liabilities
|
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117
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-
|
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Total
Liabilities
|
|
|
24,394
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23,509
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COMMITMENTS
AND CONTINGENCIES
|
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SHAREHOLDERS'
EQUITY
|
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Preference
shares at $0.00002 par value
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per
share
|
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Authorized
- 250,000,000 shares
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-
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-
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Ordinary
shares at $0.00002 par value
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per
share
|
|
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Authorized
- 4,750,000,000 shares
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Issued
-1,904,990,200 and
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|
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|
|
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1,906,969,950
shares as of
|
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|
|
|
March
31, 2007 and December 31,
|
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|
|
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|
|
2006,
respectively
|
|
|
38
|
|
|
38
|
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Additional
paid-in capital
|
|
|
140,777
|
|
|
140,224
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Retained
earnings
|
|
|
33,672
|
|
|
33,877
|
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Accumulated
other comprehensive income (loss)
|
|
|
68
|
|
|
(628
|
)
|
Total
Shareholders' Equity
|
|
|
174,555
|
|
|
173,511
|
|
|
|
|
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|
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TOTAL
LIABILITIES AND SHAREHOLDERS' EQUITY
|
|
$
|
198,949
|
|
$
|
197,020
|
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