FORMFACTOR, INC.
RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME
(In thousands, except per share amounts)
(Unaudited)
| Three Months Ended | |||||||||||
| March 31, 2018 | December 30, 2017 | April 1, 2017 | |||||||||
| GAAP net income | $ | 2,125 | $ | 5,588 | $ | 5,185 | |||||
| Adjustments: | |||||||||||
| Stock-based compensation | 3,756 | 4,952 | 3,302 | ||||||||
| Restructuring and impairment charges, net | — | 481 | 269 | ||||||||
| Acquisition and integration related expenses | — | 782 | 588 | ||||||||
| Amortization of intangibles | 7,194 | 7,515 | 8,540 | ||||||||
| Contingencies | — | — | (206 | ) | |||||||
| Benefit from U.S. tax reform | — | (2,053 | ) | — | |||||||
| Income tax effect of non-GAAP adjustments | (425 | ) | 715 | (427 | ) | ||||||
| Non-GAAP net income | $ | 12,650 | $ | 17,980 | $ | 17,251 | |||||
| Non-GAAP net income per share: | |||||||||||
| Basic | $ | 0.17 | $ | 0.25 | $ | 0.24 | |||||
| Diluted | $ | 0.17 | $ | 0.24 | $ | 0.24 | |||||
| Weighted-average number of shares used in per share calculations: | |||||||||||
| Basic | 72,826 | 72,846 | 71,423 | ||||||||
| Diluted | 74,342 | 74,756 | 72,922 | ||||||||
FORMFACTOR, INC.
RECONCILIATION OF GAAP GROSS MARGIN TO NON-GAAP GROSS MARGIN
(Dollars in thousands)
(Unaudited)
|
Three Months Ended
March 31, 2018 |
Three Months Ended
December 30, 2017 |
Three Months Ended
April 1, 2017 | |||||||||||||||
| Gross Profit | Gross Margin | Gross Profit | Gross Margin | Gross Profit | Gross Margin | ||||||||||||
| GAAP Gross Profit/Margin | $ | 45,129 | 38.2% | $ | 48,629 | 36.9% | $ | 47,571 | 36.9% | ||||||||
| Adjustments: | |||||||||||||||||
| Amortization of intangibles | 5,157 | 4.3% | 5,473 | 4.1% | 6,515 | 5.0% | |||||||||||
| Stock-based compensation | 920 | 0.8% | 1,000 | 0.7% | 854 | 0.7% | |||||||||||
| Acquisition and integration related expenses | — | —% | 68 | 0.1% | — | —% | |||||||||||
| Contingencies | — | —% | — | —% | (30 | ) | —% | ||||||||||
| Non-GAAP Gross Profit/Margin | $ | 51,206 | 43.3% | $ | 55,170 | 41.8% | $ | 54,940 | 42.6% | ||||||||
