Applied Micro Circuits Corporation Reports First Quarter Fiscal 2017 Financial Results
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APPLIED MICRO CIRCUITS CORPORATION | |
SCHEDULE OF SELECTED GAAP TO NON-GAAP ADJUSTMENTS | |
(in thousands) | |
(unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Three Months Ended | | | | | | |
June 30, | |
March 31, | |
June 30, | | | | | | | |
2016 | | | |
2016 | | | |
2015 | | |
GROSS PROFIT: | | | | | | | | GAAP gross profit | | $ | 25,469 | | | $ | 24,174 | | | | 21,007 | | | Stock-based compensation expense | | | 158 | | | | 172 | | | | 93 | | | Non-GAAP gross profit | | $ | 25,627 | | | $ | 24,346 | | | $ | 21,100 | | | | | | | | | | | | | |
OPERATING EXPENSES: | | | | | | | | GAAP operating expenses | | $ | 36,184 | | | $ | 33,194 | | | $ | 30,477 | | | Stock-based compensation expense | | | (8,007 | ) | | | (7,465 | ) | | | (5,999 | ) | | Restructuring | | | - | | | | 57 | | | | (96 | ) | | Non-GAAP operating expenses | | $ | 28,177 | | | $ | 25,786 | | | $ | 24,382 | | | | | | | | | | | | | |
INTEREST AND OTHER INCOME, NET | | | | | | | | GAAP interest and other income, net | | $ | 247 | | | $ | 229 | | | $ | 1,644 | | | Reversals of impairment charges upon sales of marketable securities | | | - | | | | - | | | | (1,427 | ) | | Non-GAAP interest and other income, net | | $ | 247 | | | $ | 229 | | | $ | 217 | | | | | | | | | | | | | |
INCOME TAX EXPENSE: | | | | | | | | GAAP income tax expense | | $ | 71 | | | $ | 116 | | | $ | (422 | ) | | Income tax adjustment | | | 129 | | | | 84 | | | | 622 | | | Non-GAAP income tax expense | | $ | 200 | | | $ | 200 | | | $ | 200 | | | | | | | | | | | | | |
RESEARCH AND DEVELOPMENT: | | | | | | | | GAAP research and development | | $ | 27,485 | | | $ | 25,113 | | | $ | 21,617 | | | Stock-based compensation expense | | | (5,993 | ) | | | (5,503 | ) | | | (4,060 | ) | | Non-GAAP research and development | | $ | 21,492 | | | $ | 19,610 | | | $ | 17,557 | | | | | | | | | | | | | |
SELLING, GENERAL AND ADMINISTRATIVE: | | | | | | | | GAAP selling, general and administrative | | $ | 8,699 | | | $ | 8,138 | | | $ | 8,764 | | | Stock-based compensation expense | | | (2,014 | ) | | | (1,962 | ) | | | (1,939 | ) | | Non-GAAP selling, general and administrative | | $ | 6,685 | | | $ | 6,176 | | | $ | 6,825 | | | | | | | | | | | | |
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