Applied Micro Circuits Corporation Reports Third Quarter Fiscal

Applied Micro Circuits Corporation Reports Third Quarter Fiscal 2016 Financial Results

APPLIED MICRO CIRCUITS CORPORATION
RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET LOSS
(in thousands, except per share data)
(unaudited)

	Three Months Ended									Nine Months Ended
	December 31,			September 30,			December 31,			December 31,			December 31,
		2015			2015			2014			2015			2014

GAAP net loss	$	(8,199	)	$	(8,061	)	$	(12,131	)	$	(23,664	)	$	(36,913	)
Adjustments:
Stock-based compensation expense		6,141			5,934			4,857			18,167			14,303
Amortization of purchased intangible assets		-			-			-			-			105
Veloce acquisition consideration		-			-			-			-			7,140
Restructuring		(29	)		15			221			82			1,322
Impairment of a strategic investment		-			-			-			-			2,500
Reversals of impairment charges upon sales of marketable securities		-			(267	)		(129	)		(1,694	)		(158	)
Income tax effect on non-GAAP adjustments		(30	)		(25	)		62			(677	)		(307	)
Total GAAP to non-GAAP adjustments		6,082			5,657			5,011			15,878			24,905
Non-GAAP net loss	$	(2,117	)	$	(2,404	)	$	(7,120	)	$	(7,786	)	$	(12,008	)

Diluted non-GAAP net loss per share	$	(0.03	)	$	(0.03	)	$	(0.09	)	$	(0.09	)	$	(0.15	)

Shares used in calculating diluted non-GAAP net loss per share		83,191			82,176			78,920			82,186			78,442

Diluted net loss per share:
GAAP diluted net loss per share	$	(0.10	)	$	(0.10	)	$	(0.15	)	$	(0.29	)	$	(0.47	)
GAAP to non-GAAP adjustments		0.07			0.07			0.06			0.19			0.32
Non-GAAP diluted net loss per share	$	(0.03	)	$	(0.03	)	$	(0.09	)	$	(0.09	)	$	(0.15	)

Reconciliation of shares used in calculating non-GAAP net loss per share:
Shares used in calculating the basic net loss per share		83,191			82,176			78,920			82,186			78,442
Adjustment for dilutive securities		-			-			-			-			-
Shares used in calculating diluted non-GAAP net loss per share		83,191			82,176			78,920			82,186			78,442