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| Three Months Ended June 29, 2024 | ||||||||||
Non-GAAP Loss Per Share |
| GAAP Measure |
| Stock Compensation Expense* |
| Intangible Asset Amortization* |
| Termination Costs* |
| Income Tax Adjustments |
| Non- GAAP Measure |
Net income (loss) |
| $ (82,157) |
| $ 15,844 |
| $ 6,080 |
| $ 1,008 |
| $ 41,176 |
| $ (18,049) |
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Diluted shares outstanding |
| 32,124 |
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| 32,124 |
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Diluted loss per share |
| $ (2.56) |
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| $ (0.56) |
* Represents pre-tax amounts |
Unaudited Forward-Looking Statements Regarding Business Outlook | ||||||
(In millions, except per share data) | ||||||
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| Three Months Ended
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Business Outlook |
| GAAP Measure |
| Non-GAAP Adjustments** |
| Non-GAAP Measure |
Gross margin |
| 54% to 56% |
| — % |
| 54% to 56% |
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Operating expenses |
| $123 to $125 |
| $(22) |
| $101 to $103 |
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Diluted loss per share |
| $(0.95) to $(1.25) |
| $0.85 to $0.95 |
| $(0.10) to $(0.30) |
| ** | Non-GAAP adjustments include the following estimates: stock compensation expense of $16.8 million, intangible asset amortization of $5.4 million, and the application of a long-term non-GAAP tax rate of 20%. |
