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| Three Months Ended December 30, 2023 | ||||||||||||
Non-GAAP Earnings (Loss) Per Share |
| GAAP Measure |
| Stock Compensation
|
| Intangible
|
| Termination
|
| Equity-Method Investment
|
| Income Tax Adjustments |
| Non- GAAP Measure |
Net income (loss) |
| $(69,787) |
| $11,041 |
| $6,212 |
| $9,115 |
| $14,880 |
| $(9,409) |
| $(37,948) |
|
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|
Diluted shares outstanding |
| 31,848 |
|
|
|
|
|
|
|
|
|
|
| 31,848 |
|
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|
Diluted earnings (loss) per share |
| $(2.19) |
|
|
|
|
|
|
|
|
|
|
| $(1.19) |
|
|
* Represents pre-tax amounts |
Unaudited Forward-Looking Statements Regarding Business Outlook | ||||||
(In millions, except per share data) | ||||||
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Business Outlook |
| Three Months Ending March 30, 2024 | ||||
|
|
| GAAP Measure |
| Non-GAAP Adjustments** |
| Non-GAAP Measure |
Gross margin |
| 52 % |
| 0 % |
| 52 % |
|
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|
Operating expenses |
| $118 |
| $22 |
| $96 |
|
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Diluted loss per share - low |
| $(2.05) |
| $1.01 |
| $(1.04) |
|
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|
| Diluted loss per share - high |
| $(1.89) |
| $0.97 |
| $(0.92) |
|
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| ** Non-GAAP adjustments include the following estimates: stock compensation expense of $15.9 million, intangible asset amortization of $6.1 million, termination costs of $0.5 million, and the associated tax impact from the aforementioned items. |
