PDF Solutions® Reports Fourth Fiscal Quarter and Fiscal Year

PDF Solutions® Reports Fourth Fiscal Quarter and Fiscal Year 2017 Results

PDF SOLUTIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except per share amounts)

	Three months ended									Twelve months ended
	December 31,			September 30,			December 31,			December 31,			December 31,
	2017			2017			2016			2017			2016

Revenues:
Design-to-silicon-yield solutions	$	19,010		$	19,229		$	19,458	$	74,436		$	77,162
Gainshare performance incentives		7,766			7,288			8,975		27,435			30,299
Total revenues		26,776			26,517			28,433		101,871			107,461

Costs of Design-to-silicon-yield solutions:
Direct costs of Design-to-silicon-yield solutions		12,137			12,295			12,040		47,050			44,074
Amortization of acquired technology		144			136			96		471			374
Total costs of Design-to-silicon-yield solutions		12,281			12,431			12,136		47,521			44,448
Gross profit		14,495			14,086			16,297		54,350			63,013

Operating expenses:
Research and development		7,646			7,875			7,171		30,078			27,559
Selling, general and administrative		5,909			5,680			6,290		23,684			22,056
Amortization of other acquired intangible assets		107			107			92		398			432
Total operating expenses		13,662			13,662			13,553		54,160			50,047

Income from operations		833			424			2,744		190			12,966
Interest and other income (expense), net		42			(104	)		378		(264	)		(10	)
Income (loss) before income taxes		875			320			3,122		(74	)		12,956
Income tax provision (benefit)		3,509			(270	)		197		1,263			3,853
Net income (loss)	$	(2,634	)	$	590		$	2,925	$	(1,337	)	$	9,103

Net income (loss) per share:
Basic	$	(0.08	)	$	0.02		$	0.09	$	(0.04	)	$	0.29
Diluted	$	(0.08	)	$	0.02		$	0.09	$	(0.04	)	$	0.28

Weighted average common shares:
Basic		31,971			32,078			31,636		32,038			31,373
Diluted		31,971			32,969			33,293		32,038			32,431