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CYPRESS SEMICONDUCTOR CORPORATION | ||||||||||||
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RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES (a) | ||||||||||||
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(In thousands, except per-share data) | ||||||||||||
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(Unaudited) | ||||||||||||
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Table A |
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Q1 2016 |
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Q4 2015 | ||||||||
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GAAP |
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Adjustments (Table B) |
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Non-GAAP |
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GAAP |
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Adjustments (Table C) |
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Non-GAAP |
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Revenue (b) |
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$ 418,964 |
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$ 6,250 |
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$ 425,214 |
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$ 450,128 |
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$ 6,250 |
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$ 456,378 |
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Costs and expenses: |
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Cost of revenues |
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293,179 |
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(24,807) |
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268,372 |
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306,880 |
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(31,935) |
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274,945 |
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Research and development |
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73,967 |
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(7,737) |
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66,230 |
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73,682 |
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(7,352) |
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66,330 |
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Selling, general and administrative |
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74,501 |
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(15,820) |
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58,681 |
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85,386 |
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(22,185) |
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63,201 |
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Amortization of intangible assets |
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35,187 |
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(35,187) |
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- |
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33,960 |
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(33,959) |
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- |
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Impairment of acquisition-related intangible assets |
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33,944 |
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(33,944) |
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- |
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- |
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- |
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- |
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Restructuring costs |
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270 |
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(270) |
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- |
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1,405 |
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(1,406) |
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- |
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Total costs and expenses |
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511,048 |
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(117,765) |
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393,283 |
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501,313 |
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(96,837) |
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404,476 |
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Operating (loss) income |
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(92,084) |
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124,015 |
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31,931 |
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(51,185) |
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103,087 |
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51,902 |
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Interest and other expense, net |
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(8,329) |
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2,832 |
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(5,497) |
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(5,886) |
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2,118 |
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(3,768) |
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(Loss) income before income taxes |
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(100,412) |
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126,847 |
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26,434 |
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(57,071) |
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105,205 |
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48,134 |
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Income tax benefit (provision) |
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(3,742) |
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161 |
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(3,581) |
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(15,726) |
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12,653 |
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(3,073) |
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(Loss) income, net of taxes |
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(104,154) |
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127,008 |
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22,853 |
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(72,797) |
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117,858 |
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45,061 |
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Net loss attributable to noncontrolling interest |
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132 |
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- |
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132 |
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467 |
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- |
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467 |
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Net (loss) income attributable to Cypress |
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$ (104,022) |
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$ 127,008 |
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$ 22,985 |
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$ (72,330) |
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$ 117,858 |
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$ 45,528 |
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Net (loss) income per share attributable to Cypress: |
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Basic |
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$ (0.32) |
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$ 0.07 |
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$ (0.22) |
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$ 0.14 |
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Diluted |
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$ (0.32) |
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$ 0.07 |
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$ (0.22) |
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$ 0.13 |
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Cash dividend declared per share |
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$ 0.11 |
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$ 0.11 |
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$ 0.11 |
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$ 0.11 |
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Shares used in net (loss) income per share calculation: |
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Basic |
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320,351 |
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- |
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320,351 |
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334,447 |
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- |
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334,447 |
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Diluted |
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320,351 |
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20,462 |
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340,813 |
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334,447 |
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27,782 |
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362,229 |
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Cypress Reports First Quarter 2016 Results
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