| Three-Month Period Ended | Six-Month Period Ended | |||||||||||||||||||
|
September 24,
2021 |
June 25,
2021 |
September 25,
2020 |
September 24,
2021 |
September 25,
2020 | ||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| Reconciliation of EBITDA and Adjusted EBITDA | ||||||||||||||||||||
| GAAP Net Income | $ | 33,223 | $ | 27,707 | $ | 9,618 | $ | 60,930 | $ | 14,472 | ||||||||||
| Interest expense (income), net | 1,150 | 345 | (350 | ) | 1,495 | (663 | ) | |||||||||||||
| Income tax provision | 6,143 | 4,263 | 2,082 | 10,406 | 2,610 | |||||||||||||||
| Depreciation & amortization | 12,339 | 12,172 | 12,487 | 24,511 | 24,026 | |||||||||||||||
| EBITDA | $ | 52,855 | $ | 44,487 | $ | 23,837 | $ | 97,342 | $ | 40,445 | ||||||||||
| Non-core (gain) loss on sale of equipment | (296 | ) | (35 | ) | 331 | (331 | ) | 293 | ||||||||||||
| Voxtel inventory impairment | 271 | 2,835 | — | 3,106 | — | |||||||||||||||
| Foreign currency translation (gain) loss | (202 | ) | 254 | 1,318 | 52 | 1,186 | ||||||||||||||
| Income in earnings of equity investment | (226 | ) | (279 | ) | (246 | ) | (505 | ) | (458 | ) | ||||||||||
| Unrealized gains on investments | (978 | ) | — | — | (978 | ) | — | |||||||||||||
| Stock-based compensation | 6,196 | 4,831 | 580 | 11,027 | 1,025 | |||||||||||||||
| AMTC Facility consolidation one-time costs | 158 | 463 | 1,766 | 621 | 3,471 | |||||||||||||||
| COVID-19 related expenses | 875 | 730 | 471 | 1,605 | 4,471 | |||||||||||||||
| Change in fair value of contingent consideration | 300 | 300 | — | 600 | — | |||||||||||||||
| Transaction fees | 6 | 23 | 1,871 | 29 | 1,988 | |||||||||||||||
| Severance | — | 168 | — | 168 | 337 | |||||||||||||||
| PSL and Sanken distribution agreement | — | — | 2,815 | — | 6,198 | |||||||||||||||
| Adjusted EBITDA* | $ | 58,959 | $ | 53,777 | $ | 32,743 | $ | 112,736 | $ | 58,956 | ||||||||||
| Adjusted EBITDA Margin* (% of net sales) |
30.5
| % |
28.6
| % |
24.0
| % |
29.5
| % |
23.4
| % | ||||||||||
* Adjusted EBITDA and the corresponding calculation of Adjusted EBITDA Margin do not include adjustments for the following components of our net income: (i) additional AMTC related costs of $—, $—, and $2,330 for the three months ended September 24, 2021, June 25, 2021, and September 25, 2020, respectively, and (ii) additional AMTC related costs of $— and $5,728 for the six months ended September 24, 2021 and September 25, 2020, respectively, and labor savings costs of $— and $109 for the six months ended September 24, 2021 and September 25, 2020, respectively.
