Additional details reconciling the selected non-GAAP financial measure to the selected GAAP financial measure may be found in "Notes on Non-GAAP Financial Measures."
|
Summary of Schedule Reconciling Selected Non-GAAP Financial Measures | ||||||||||||
|
(unaudited, in millions, except for per share amounts) | ||||||||||||
|
| ||||||||||||
|
|
|
Quarter Ended January 3, 2016 | ||||||||||
|
|
|
GAAP |
|
Non-GAAP Adjustments |
|
Non-GAAP | ||||||
|
Net sales |
|
$ |
329.2 |
|
|
$ |
— |
|
|
$ |
329.2 |
|
|
Gross profit |
|
$ |
187.9 |
|
|
$ |
— |
|
|
$ |
187.9 |
|
|
Operating income |
|
$ |
36.6 |
|
|
$ |
47.2 |
|
|
$ |
83.8 |
|
|
Net income |
|
$ |
23.7 |
|
|
$ |
45.6 |
|
|
$ |
69.3 |
|
|
Diluted earnings per share |
|
$ |
0.25 |
|
|
$ |
0.47 |
|
|
$ |
0.72 |
|
Additional details reconciling the selected non-GAAP financial measure to the selected GAAP financial measure may be found in the "Schedule Reconciling Selected Non-GAAP Financial Measures" and "Notes on Non-GAAP Financial Measures."
|
Consolidated Condensed Statements of Income | ||||||||||||
|
(unaudited, in millions, except for per share amounts) | ||||||||||||
|
| ||||||||||||
|
|
|
Quarter Ended | ||||||||||
|
|
|
Jan 3,
|
|
Sep 27,
|
|
Dec 28,
| ||||||
|
Net sales |
|
$ |
329.2 |
|
|
$ |
328.8 |
|
|
$ |
303.6 |
|
|
Cost of sales |
|
141.3 |
|
|
154.0 |
|
|
135.5 |
| |||
|
Gross profit |
|
$ |
187.9 |
|
|
$ |
174.8 |
|
|
$ |
168.1 |
|
|
|
|
|
|
|
|
| ||||||
|
Operating expenses |
|
|
|
|
|
| ||||||
|
Selling, general and administrative |
|
$ |
63.3 |
|
|
$ |
61.0 |
|
|
$ |
60.0 |
|
|
Research and development |
|
54.9 |
|
|
54.0 |
|
|
47.6 |
| |||
|
Amortization of intangible assets |
|
25.4 |
|
|
25.4 |
|
|
23.6 |
| |||
|
Restructuring and severance charges |
|
1.7 |
|
|
1.4 |
|
|
7.1 |
| |||
|
Acquisition related costs |
|
6.0 |
|
|
0.7 |
|
|
0.1 |
| |||
|
Total operating expenses |
|
$ |
151.3 |
|
|
$ |
142.5 |
|
|
$ |
138.4 |
|
|
|
|
|
|
|
|
| ||||||
|
Operating income |
|
$ |
36.6 |
|
|
$ |
32.3 |
|
|
$ |
29.7 |
|
|
|
|
|
|
|
|
| ||||||
|
Interest and other (expense), net |
|
(8.8) |
|
|
(4.8) |
|
|
(6.6) |
| |||
|
Income before income taxes |
|
$ |
27.8 |
|
|
$ |
27.5 |
|
|
$ |
23.1 |
|
|
Provision for income taxes |
|
4.1 |
|
|
2.2 |
|
|
3.4 |
| |||
|
Net income |
|
$ |
23.7 |
|
|
$ |
25.3 |
|
|
$ |
19.7 |
|
|
|
|
|
|
|
|
| ||||||
|
Earnings per share |
|
|
|
|
|
| ||||||
|
Basic |
|
$ |
0.25 |
|
|
$ |
0.27 |
|
|
$ |
0.21 |
|
|
Diluted |
|
$ |
0.25 |
|
|
$ |
0.26 |
|
|
$ |
0.21 |
|
|
|
|
|
|
|
|
| ||||||
|
Weighted-average common shares outstanding |
|
|
|
|
|
| ||||||
|
Basic |
|
95.1 |
|
|
94.3 |
|
|
93.9 |
| |||
|
Diluted |
|
96.5 |
|
|
96.5 |
|
|
95.1 |
| |||
