| Analog Devices, First Quarter, Fiscal 2016 | |||||||||||||||
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Schedule E |
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| Reconciliation from GAAP to Non-GAAP Revenue and Earnings Measures (In thousands, except per-share amounts) (Unaudited) | |||||||||||||||
| See "Non-GAAP Financial Information" in this press release for a description of the items excluded from our non-GAAP measures. | |||||||||||||||
| Three Months Ended | |||||||||||||||
| 1Q 16 | 4Q 15 | 1Q 15 | |||||||||||||
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Jan. 30,
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Oct. 31,
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Jan. 31,
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| GAAP Gross Margin | $ | 477,293 | $ | 641,796 | $ | 503,607 | |||||||||
| Gross Margin Percentage | 62.0 | % | 65.6 | % | 65.2 | % | |||||||||
| Acquisition-Related Expenses | 1,445 | 1,399 | 2,973 | ||||||||||||
| Stock-Based Compensation Expense | — | — | 113 | ||||||||||||
| Non-GAAP Gross Margin | $ | 478,738 | $ | 643,195 | $ | 506,693 | |||||||||
| Gross Margin Percentage | 62.2 | % | 65.7 | % | 65.6 | % | |||||||||
| GAAP Operating Expenses | $ | 282,248 | $ | 533,166 | $ | 295,673 | |||||||||
| Percent of Revenue | 36.7 | % | 54.5 | % | 38.3 | % | |||||||||
| Other Operating Expense | — | (223,672 | ) | — | |||||||||||
| Acquisition-Related Expenses | (17,457 | ) | (17,682 | ) | (24,132 | ) | |||||||||
| Acquisition-Related Transaction Costs | — | — | (3,057 | ) | |||||||||||
| Stock-Based Compensation Expense | — | — | (4,164 | ) | |||||||||||
| Non-GAAP Operating Expenses | $ | 264,791 | $ | 291,812 | $ | 264,320 | |||||||||
| Percent of Revenue | 34.4 | % | 29.8 | % | 34.2 | % | |||||||||
| GAAP Operating Income/Margin | $ | 195,045 | $ | 108,630 | $ | 207,934 | |||||||||
| Percent of Revenue | 25.3 | % | 11.1 | % | 26.9 | % | |||||||||
| Other Operating Expense | — | 223,672 | — | ||||||||||||
| Acquisition-Related Expenses | 18,902 | 19,081 | 27,105 | ||||||||||||
| Acquisition-Related Transaction Costs | — | — | 3,057 | ||||||||||||
| Stock-Based Compensation Expense | — | — | 4,277 | ||||||||||||
| Non-GAAP Operating Income/Margin | $ | 213,947 | $ | 351,383 | $ | 242,373 | |||||||||
| Percent of Revenue | 27.8 | % | 35.9 | % | 31.4 | % | |||||||||
| GAAP Other Expense (Income) | $ | 12,868 | $ | 3,953 | $ | 7,164 | |||||||||
| Percent of Revenue | 1.7 | % | 0.4 | % | 0.9 | % | |||||||||
| Loss on Extinguishment of Debt | (3,289 | ) | — | — | |||||||||||
| Non-GAAP Other Expense | $ | 9,579 | $ | 3,953 | $ | 7,164 | |||||||||
| Percent of Revenue | 1.2 | % | 0.4 | % | 0.9 | % | |||||||||
| GAAP Diluted EPS | $ | 0.52 | $ | 0.30 | $ | 0.57 | |||||||||
| Other Operating Expense | — | 0.71 | — | ||||||||||||
| Acquisition-Related Expenses | 0.06 | 0.06 | 0.08 | ||||||||||||
| Acquisition-Related Transaction Costs | — | — | 0.01 | ||||||||||||
| Acquisition-Related Tax Impact | — | — | (0.01 | ) | |||||||||||
| Stock-Based Compensation Expense | — | — | 0.01 | ||||||||||||
| Loss on Extinguishment of Debt | 0.01 | — | — | ||||||||||||
| Impact of Reversal of Prior Period Tax Liabilities | — | (0.04 | ) | — | |||||||||||
| Impact of the Reinstatement of the R&D Tax Credit | (0.02 | ) | — | (0.02 | ) | ||||||||||
| Non-GAAP Diluted EPS (1) | $ | 0.56 | $ | 1.03 | $ | 0.63 | |||||||||
| (1) The sum of the individual per share amounts may not equal the total due to rounding | |||||||||||||||
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Analog Devices Reports First Quarter 2016 Results
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