International Rectifier Reports Fourth Quarter and Full Year Fiscal 2014 Results

For the fiscal years ended June 29, 2014, and June 30, 2013, stock-based compensation was as follows (in thousands):

  Fiscal Year Ended
June 29, 2014   June 30, 2013
Cost of sales $ 5,242 $ 4,393
Selling, general and administrative expense 13,144 11,166
Research and development expense 8,108   6,001
Total stock-based compensation expense $ 26,494   $ 21,560
 

INTERNATIONAL RECTIFIER CORPORATION AND SUBSIDIARIES

NON-GAAP RESULTS

(In thousands, except per share and gross profit-percentage data)

Reconciliation of GAAP to Non-GAAP Gross Profit:

  Three Months Ended   Fiscal Year Ended
June 29, 2014   March 30, 2014   June 30, 2013 June 29, 2014   June 30, 2013
GAAP Gross profit $ 105,798 $ 100,134 $ 83,067 $ 399,208 $ 257,105
Adjustments to reconcile GAAP to Non-GAAP gross profit:
Impairment of long-lived assets 2,792
Accelerated depreciation 509 507 417 2,097 1,683
Product litigation reserve release   (2,790 )   (2,790 )  
Non-GAAP gross profit $ 106,307   $ 97,851   $ 83,484   $ 398,515   $ 261,580  
Non-GAAP gross profit-percentage 35.7 % 36.3 % 30.2 % 36.0 % 26.8 %
 

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