MaxLinear, Inc. Announces Fourth Quarter and Fiscal Year 2015 Financial Results
|
MAXLINEAR, INC. |
|
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES |
| |
| |
Years Ended December 31, |
| |
2015 | |
2014 |
| GAAP cost of net revenue | 48.3 | % | | 38.4 | % |
| Stock based compensation | (0.1 | )% | | (0.1 | )% |
| Performance based equity | (0.1 | )% | | — | % |
| Amortization of inventory step-up | (4.7 | )% | | — | % |
| Amortization of purchased intangible assets | (1.4 | )% | | — | % |
| Impairment of production masks | (0.1 | )% | | — | % |
| Non-GAAP cost of net Revenue | 41.9 | % | | 38.3 | % |
| | | | |
| GAAP R&D expenses | 28.4 | % | | 42.5 | % |
| Stock based compensation | (3.9 | )% | | (7.3 | )% |
| Incentive Award Compensation | (0.5 | )% | | — | % |
| Performance based equity | (1.3 | )% | | (1.5 | )% |
| Amortization of purchased intangible assets | (0.1 | )% | | — | % |
| Severance charges | (0.3 | )% | | — | % |
| Restricted merger proceeds and contingent consideration | (0.3 | )% | | (0.1 | )% |
| Non-GAAP R&D expenses | 22.0 | % | | 33.7 | % |
| | | | |
| GAAP SG&A expenses | 26.0 | % | | 25.7 | % |
| Stock based compensation | (1.9 | )% | | (3.9 | )% |
| Incentive Award Compensation | — | % | | — | % |
| Performance based equity | (0.7 | )% | | (1.0 | )% |
| Amortization of purchased intangible assets | (8.3 | )% | | — | % |
| Acquisition and integration costs | (1.8 | )% | | (0.2 | )% |
| Restricted merger proceeds and contingent consideration | — | % | | — | % |
| Severance charges | (0.2 | )% | | — | % |
| IP litigation costs, net | (0.5 | )% | | (2.4 | )% |
| Non-GAAP SG&A expenses | 12.5 | % | | 18.2 | % |
| | | | |
| GAAP Restructuring Expenses | 11.9 | % | | — | % |
| Impairment Losses | (7.2 | )% | | — | % |
| Restructuring Charges | (4.7 | )% | | — | % |
| Non-GAAP Restructuring Expenses | — | % | | — | % |
| | | | |
| GAAP income tax benefit | (0.2 | )% | | (1.3 | )% |
| Release of valuation allowance due to net deferred liability acquired | 0.6 | % | | 1.8 | % |
| Non-GAAP income tax expense | 0.4 | % | | 0.5 | % |
| | | | |
| GAAP net loss | (14.1 | )% | | (5.3 | )% |
| Total Adjustments | (37.5 | )% | | (14.7 | )% |
| Non-GAAP net income | 23.4 | % | | 9.4 | % |
| | | | | | |
MaxLinear, Inc. Investor Relations Contact:
Brian Nugent, CFA
Finance and Investor Relations Manager
Tel: 949-333-0237
MaxLinear, Inc. Corporate Contact:
Adam Spice
Chief Financial Officer
Tel: 949-333-0092
