Peregrine Semiconductor Announces Third Quarter 2014 Financial Results

 


Peregrine Semiconductor Corporation
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
(in thousands, except per share data)
(unaudited)






Three Months Ended


Nine Months Ended


September 27,
2014


September 28,
2013


September 27,
2014


September 28,
2013

















Gross profit - GAAP

$ 17,092


39.6%


$ 25,253


42.1%


$  49,907


38.0%


$ 65,789


41.4%

Non-cash compensation expense (1)

277


0.7


238


0.4


807


0.6


652


0.4

















Gross profit - Non-GAAP

$ 17,369


40.3%


$ 25,491


42.5%


$  50,714


38.6%


$ 66,441


41.8%

















Income (loss) from operations - GAAP

$ (3,251)


(7.5)%


$   4,266


7.1%


$ (19,178)


(14.6)%


$   2,885


1.8%

Non-cash compensation expense (1)

1,816


4.2


1,728


2.9


5,782


4.4


4,854


3.1

















Income (loss) from operations - Non-GAAP

$ (1,435)


(3.3)%


$   5,994


10.0%


$ (13,396)


(10.2)%


$   7,739


4.9%

















Net income (loss) - GAAP

$ (3,148)


(7.3)%


$   4,433


7.4%


$ (19,105)


(14.5)%


$   2,777


1.7%

Non-cash compensation expense (1)

1,816


4.2


1,728


2.9


5,782


4.4


4,854


3.1

















Net income (loss) - Non-GAAP

$ (1,332)


(3.1)%


$   6,161


10.3%


$ (13,323)


(10.1)%


$   7,631


4.8%

















Diluted net income (loss) per share  - GAAP

$   (0.09)




$     0.12




$     (0.57)




$     0.08



Non-cash compensation expense

0.05




0.05




0.17




0.13



















Diluted net income (loss) per share - Non-GAAP

$   (0.04)




$     0.17




$     (0.40)




$     0.21



















Shares used to compute diluted net income (loss) per share - GAAP and Non-GAAP

33,572




35,804




33,261




35,738



















(1) Includes stock-based compensation as follows:

















Three Months Ended


Nine Months Ended


September 27,
2014


September 28,
2013


September 27,
2014


September 28,
2013

Cost of net revenue

$                      277


$                      238


$                          807


$                      652

Research and development

574


537


1,869


1,534

Selling, general and administrative

965


953


3,106


2,668

Total

$                   1,816


$                   1,728


$                       5,782


$                   4,854


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