* Our non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP
operating expenses, non-GAAP net income (loss) and non-GAAP net income
(loss) per share differs from GAAP gross profit, GAAP operating
expenses, GAAP net income (loss) and GAAP net income (loss) per share
due to the exclusion of restructuring charges, stock-based compensation
expense and additional amortization of a non-cancelable prepaid royalty.
Pixelworks' management believes the presentation of non-GAAP gross
profit, non-GAAP operating expenses, non-GAAP net income (loss) and
non-GAAP net income (loss) per share provides useful information to
investors regarding Pixelworks' results of operations which allows
investors an alternative evaluation of underlying cash flow dynamics.
Pixelworks' management also uses each of these non-GAAP measures
internally as an alternative evaluation of underlying cash flow
dynamics. Pixelworks, however, cautions investors to consider these
non-GAAP financial measures in addition to, and not as a substitute for,
our GAAP financial measures.
|
|
|
|
|
PIXELWORKS, INC.
|
|
RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL INFORMATION *
|
|
(In thousands)
|
|
(Unaudited)
|
|
|
|
|
|
|
Three Months Ended
|
|
|
Twelve Months Ended
|
|
|
|
|
December 31,
|
|
|
September 30,
|
|
|
December 31,
|
|
|
December 31,
|
|
|
December 31,
|
|
|
|
|
|
2016
|
|
|
|
|
2016
|
|
|
|
|
2015
|
|
|
|
|
2016
|
|
|
|
|
2015
|
|
|
Reconciliation of GAAP net income (loss) and adjusted EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income (loss)
|
|
|
$
|
337
|
|
|
|
$
|
(1,242
|
)
|
|
|
$
|
(3,167
|
)
|
|
|
$
|
(11,107
|
)
|
|
|
$
|
(10,570
|
)
|
|
Stock-based compensation
|
|
|
|
806
|
|
|
|
|
784
|
|
|
|
|
931
|
|
|
|
|
2,662
|
|
|
|
|
3,921
|
|
|
Restructuring
|
|
|
|
7
|
|
|
|
|
30
|
|
|
|
|
|
|
|
4,392
|
|
|
|
|
—
|
|
|
Additional amortization of non-cancelable prepaid royalty
|
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
(14
|
)
|
|
Tax effect of non-GAAP adjustments
|
|
|
|
8
|
|
|
|
|
(10
|
)
|
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
—
|
|
|
Non-GAAP net income (loss)
|
|
|
$
|
1,158
|
|
|
|
$
|
(438
|
)
|
|
|
$
|
(2,236
|
)
|
|
|
$
|
(4,053
|
)
|
|
|
$
|
(6,663
|
)
|
|
EBITDA adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
$
|
828
|
|
|
|
$
|
816
|
|
|
|
$
|
1,038
|
|
|
|
$
|
3,466
|
|
|
|
$
|
4,263
|
|
|
Interest expense and other, net
|
|
|
|
101
|
|
|
|
|
99
|
|
|
|
|
129
|
|
|
|
|
406
|
|
|
|
|
446
|
|
|
Non-GAAP provision (benefit) for income taxes
|
|
|
|
(10
|
)
|
|
|
|
193
|
|
|
|
|
128
|
|
|
|
|
355
|
|
|
|
|
320
|
|
|
Adjusted EBITDA
|
|
|
$
|
2,077
|
|
|
|
$
|
670
|
|
|
|
$
|
(941
|
)
|
|
|
$
|
174
|
|
|
|
$
|
(1,634
|
)
|
