|
EZchip Semiconductor Ltd. Selected Condensed Consolidated Cash Flow Data on a Non-GAAP Basis (U.S. Dollars in thousands) (Unaudited) | ||||||||
|
| ||||||||
|
|
|
Three Months Ended |
| |||||
|
|
|
March 31, |
|
December 31, |
|
March 31, |
| |
|
|
|
2015 |
|
2014 |
|
2014 |
| |
|
Cash flows from operating activities: |
|
|
|
|
|
|
| |
|
Net income (loss) |
|
$ (8,266) |
|
$ (7,341) |
|
$ 6,086 |
| |
|
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
|
|
|
|
|
|
| |
|
Repayment of OCS grants* |
|
9,636 |
|
-- |
|
-- |
| |
|
Depreciation and Amortization |
|
1,783 |
|
2,752 |
|
168 |
| |
|
Increase in trade and other receivables, net |
|
(1,105) |
|
(5,321) |
|
(1,471) |
| |
|
Decrease (increase) in inventory |
|
879 |
|
(152) |
|
(102) |
| |
|
Decrease in trade payables and other accrued liabilities, net |
|
(29) |
|
(992) |
|
(164) |
| |
|
Stock-based compensation |
|
4,802 |
|
6,934 |
|
3,925 |
| |
|
Net cash provided by (used in) operating activities |
|
7,700 |
|
(4,120) |
|
8,442 |
| |
|
|
|
|
|
|
|
|
| |
|
Cash flows from investing activities: |
|
|
|
|
|
|
| |
|
Purchase of property and equipment |
|
(83) |
|
(160) |
|
(196) |
| |
|
Purchase of technology |
|
-- |
|
(2,641) |
|
(1,348) |
| |
|
Long term investment and others |
|
-- |
|
(31,580) |
|
-- |
| |
|
Net cash used in investing activities |
|
(83) |
|
(34,381) |
|
(1,544) |
| |
|
|
|
|
|
|
|
|
| |
|
Cash flows from financing activities: |
|
|
|
|
|
|
| |
|
Proceeds from exercise of options |
|
317 |
|
1,117 |
|
216 |
| |
|
|
|
|
|
|
|
|
| |
|
Net cash provided by financing activities |
|
317 |
|
1,117 |
|
216 |
| |
|
|
|
|
|
|
|
|
| |
|
Repayment of OCS grants* |
|
(9,636) |
|
-- |
|
-- |
| |
|
Cash adjustment of marketable securities, net** |
|
66 |
|
(299) |
|
(7) |
| |
|
|
|
|
|
|
|
|
| |
|
Increase (decrease) in cash, cash equivalents, marketable securities and deposits |
|
(1,636) |
|
(37,683) |
|
7,107 |
| |
|
|
|
|
|
|
|
|
| |
|
Cash, cash equivalents, marketable securities and deposits at the beginning of the period |
|
185,757 |
|
223,440 |
|
202,865 |
| |
|
|
| |||||||
|
Cash, cash equivalents, marketable securities and deposits at the end of the period |
|
$ 184,121 |
|
$ 185,757 |
|
$ 209,972 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
During February 2015 we have made a one-time early payment of $9.6 million to the Israeli Office of Chief Scientist, representing the full balance of the contingent liability related to the NP-5 grants received. Upon making this payment, we have eliminated all future royalty obligations related to our anticipated NP-5 revenues and saved the associated future interest payments related to such obligations. This amount was excluded from the non-GAAP operating cash flow as it represents future royalty obligations. |
|
|
|
|
** |
Including unrealized gain (loss) on marketable securities, accumulated interest accretion and amortization of discount and premium on marketable securities. |
