- Equity-based compensation expense.
- Legal judgments, awards, or governmental fines or penalties.
- Income from IP agreements.
- Restructuring and related costs.
- Write-offs (recoveries) related to Auction Rate Securities.
- Tax effects of non-GAAP adjustments.
- Diluted weighted average shares non-GAAP adjustment - for purposes of calculating non-GAAP diluted earnings per share, the GAAP diluted weighted average shares outstanding is adjusted to exclude the benefits of equity-based compensation expense attributable to future services not yet recognized in the financial statements that are treated as proceeds assumed to be used to repurchase shares under the GAAP treasury stock method.
Comparability. The above criteria has been consistently applied when calculating the non-GAAP financial measures for all periods presented in this press release and accompanying tables.
|
Intersil Corporation | ||||||
|
Condensed Consolidated Statements of Income | ||||||
|
Unaudited | ||||||
|
(In thousands, except percentages and per share amounts) | ||||||
|
|
|
|
|
|
| |
|
|
Quarter Ended | |||||
|
|
Apr. 1, |
|
Jan. 1, |
|
Apr. 3, | |
|
|
2016 |
|
2016 |
|
2015 | |
|
|
Q1 2016 |
|
Q4 2015 |
|
Q1 2015 | |
|
|
|
|
|
|
| |
|
Revenue |
$ 129,279 |
|
$ 126,626 |
|
$ 134,153 | |
|
Cost of revenue |
53,319 |
|
53,707 |
|
53,827 | |
|
Gross profit |
75,960 |
|
72,919 |
|
80,326 | |
|
Gross margin % |
58.8% |
|
57.6% |
|
59.9% | |
|
Expenses: |
|
|
|
|
| |
|
Research and development |
33,678 |
|
29,983 |
|
32,017 | |
|
Selling, general and administrative |
23,549 |
|
22,784 |
|
25,453 | |
|
Amortization of purchased intangibles |
3,528 |
|
4,261 |
|
5,561 | |
|
Provision for TAOS litigation |
- |
|
- |
|
81,100 | |
|
Total expenses |
60,755 |
|
57,028 |
|
144,131 | |
|
Operating income (loss) |
15,205 |
|
15,891 |
|
(63,805) | |
|
Other income (expense) |
(481) |
|
(257) |
|
516 | |
|
Income (loss) before income taxes |
14,724 |
|
15,634 |
|
(63,289) | |
|
Income tax (benefit) expense |
2,973 |
|
(5,668) |
|
5,535 | |
|
Net income (loss) |
$ 11,751 |
|
$ 21,302 |
|
$ (68,824) | |
|
|
|
|
|
|
| |
|
Earnings per share: |
|
|
|
|
| |
|
Basic |
$ 0.09 |
|
$ 0.16 |
|
$ (0.53) | |
|
Diluted |
$ 0.09 |
|
$ 0.16 |
|
$ (0.53) | |
|
|
|
|
|
|
| |
|
Weighted average shares outstanding: |
|
|
|
|
| |
|
Basic |
132,857 |
|
132,608 |
|
130,513 | |
|
Diluted |
135,267 |
|
134,288 |
|
130,513 | |
