Non-GAAP Earnings Per Share
|
| Three Months Ended
| ||||||||||||||
|
|
| GAAP Measure |
| Stock Compensation
|
| Intangible
|
| Disposition
|
| Investment
|
| Interest
Adjustments* |
| Income Tax Adjustments |
| Non-
|
Net income |
| $19,932 |
| $13,644 |
| $11,562 |
| $3,195 |
| $(236) |
| $4,992 |
| $(4,818) |
| $48,271 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted shares outstanding |
| 45,756 |
|
|
|
|
|
|
|
|
|
|
|
|
| 45,756 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share |
| $ 0.44 |
|
|
|
|
|
|
|
|
|
|
|
|
| $ 1.05 |
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
* Represents pre-tax amounts |
|
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|
|
Unaudited Forward-Looking Statements Regarding Business Outlook | ||||||
(In millions, except per share data) | ||||||
|
| ||||||
Business Outlook |
| Three Months Ending October 2, 2021 | ||||
|
|
| GAAP Measure |
| Non-GAAP Adjustments* |
| Non-GAAP Measure |
Gross margin |
| 57% - 57.5% |
| 0% - 0.5% |
| 57% - 58% |
|
|
|
|
|
|
|
|
Operating expenses |
| $116 |
| $23 |
| $93 |
|
|
|
|
|
|
|
|
Effective tax rate |
| (11)% |
| 25% |
| 14% |
|
|
|
|
|
|
|
|
| Diluted earnings (loss) per share - low |
| $(0.56) |
| $0.66 |
| $0.10 |
|
|
|
|
|
|
|
|
| Diluted earnings (loss) per share - high |
| $(0.46) |
| $0.66 |
| $0.20 |
|
|
| * Non-GAAP adjustments include the following estimates: stock compensation expense of $12.8 million, intangible asset amortization of $11.1 million, interest expense adjustments of $5.1 million and the associated tax impact from the aforementioned items. |
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