|
ATMEL CORPORATION | |||
|
CONDENSED CONSOLIDATED BALANCE SHEETS | |||
|
(in thousands) | |||
|
(Unaudited) | |||
|
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
December 31, |
|
|
2014 |
|
2013 |
|
|
|
|
|
|
Current assets |
|
|
|
|
Cash and cash equivalents |
$ 255,477 |
|
$ 276,881 |
|
Short-term investments |
- |
|
2,181 |
|
Accounts receivable, net |
194,909 |
|
206,757 |
|
Inventories |
247,379 |
|
274,967 |
|
Prepaids and other current assets |
95,078 |
|
92,234 |
|
Total current assets |
792,843 |
|
853,020 |
|
Fixed assets, net |
191,242 |
|
184,983 |
|
Goodwill |
108,599 |
|
108,240 |
|
Intangible assets, net |
26,406 |
|
28,116 |
|
Other assets |
160,232 |
|
178,167 |
|
Total assets |
$ 1,279,322 |
|
$ 1,352,526 |
|
|
|
|
|
|
Current liabilities |
|
|
|
|
Trade accounts payable |
$ 92,933 |
|
$ 95,872 |
|
Accrued and other liabilities |
134,123 |
|
155,406 |
|
Deferred income on shipments to distributors |
38,766 |
|
42,594 |
|
Total current liabilities |
265,822 |
|
293,872 |
|
Other long-term liabilities |
109,952 |
|
120,727 |
|
Total liabilities |
375,774 |
|
414,599 |
|
Stockholders' equity |
903,548 |
|
937,927 |
|
Total liabilities and stockholders' equity |
$ 1,279,322 |
|
$ 1,352,526 |
|
ATMEL CORPORATION | |||||
|
RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES | |||||
|
(in thousands, except per share data) | |||||
|
(Unaudited) | |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended | ||||
|
|
March 31, |
|
December 31, |
|
March 31, |
|
|
2014 |
|
2013 |
|
2013 |
|
|
|
|
|
|
|
|
GAAP gross margin |
$ 139,990 |
|
$ 150,928 |
|
$ 131,305 |
|
Loss from manufacturing facility damage and shutdown |
7,056 |
|
2,205 |
|
- |
|
Gain related to foundry arrangements |
(58) |
|
- |
|
- |
|
Share-based compensation expense |
1,316 |
|
1,301 |
|
1,844 |
|
Non-GAAP gross margin |
$ 148,304 |
|
$ 154,434 |
|
$ 133,149 |
|
|
|
|
|
|
|
|
GAAP research and development expense |
$ 69,752 |
|
$ 63,948 |
|
$ 68,308 |
|
Share-based compensation expense |
(4,729) |
|
(4,126) |
|
(4,608) |
|
French building underutilization and other |
(961) |
|
(766) |
|
- |
|
Non-GAAP research and development expense |
$ 64,062 |
|
$ 59,056 |
|
$ 63,700 |
|
|
|
|
|
|
|
|
GAAP selling, general and administrative expense |
$ 64,079 |
|
$ 59,277 |
|
$ 63,577 |
|
Share-based compensation expense |
(9,572) |
|
(7,361) |
|
(8,310) |
|
French building underutilization and other |
(335) |
|
(179) |
|
- |
|
Non-GAAP selling, general and administrative expense |
$ 54,172 |
|
$ 51,737 |
|
$ 55,267 |
|
|
|
|
|
|
|
|
GAAP income (loss) from operations |
$ 4,755 |
|
$ 29,465 |
|
$ (62,380) |
|
Share-based compensation expense |
15,617 |
|
12,788 |
|
14,762 |
|
Loss from manufacturing facility damage and shutdown |
7,056 |
|
2,205 |
|
- |
|
Acquisition-related charges (credits) |
1,628 |
|
(165) |
|
2,255 |
|
French building underutilization and other |
1,296 |
|
945 |
|
- |
|
Restructuring (credits) charges |
(224) |
|
(1,519) |
|
42,814 |
|
Gain related to foundry arrangements |
(58) |
|
- |
|
- |
|
Recovery of receivables from foundry suppliers |
- |
|
(78) |
|
(439) |
|
Gain on sale of assets |
- |
|
- |
|
(4,430) |
|
Settlement charges |
- |
|
- |
|
21,600 |
|
Non-GAAP income from operations |
$ 30,070 |
|
$ 43,641 |
|
$ 14,182 |
|
|
|
|
|
|
|
|
GAAP (provision for) benefit from income taxes |
$ (2,666) |
|
$ (23,186) |
|
$ 14,361 |
|
Adjustments for cash tax and other tax settlements |
(1,651) |
|
(22,257) |
|
15,335 |
|
Non-GAAP provision for income taxes |
$ (1,015) |
|
$ (929) |
|
$ (974) |
|
|
|
|
|
|
|
|
GAAP net income (loss) |
$ 2,166 |
|
$ 7,210 |
|
$ (47,667) |
|
Share-based compensation expense |
15,617 |
|
12,788 |
|
14,762 |
|
Loss from manufacturing facility damage and shutdown |
7,056 |
|
2,205 |
|
- |
|
Acquisition-related charges (credits) |
1,628 |
|
(165) |
|
2,255 |
|
French building underutilization and other |
1,296 |
|
945 |
|
- |
|
Restructuring (credits) charges |
(224) |
|
(1,519) |
|
42,814 |
|
Gain related to foundry arrangements |
(58) |
|
- |
|
- |
|
Recovery of receivables from foundry suppliers |
- |
|
(78) |
|
(439) |
|
Gain on sale of assets |
- |
|
- |
|
(4,430) |
|
Settlement charges |
- |
|
- |
|
21,600 |
|
Tax adjustments |
1,651 |
|
22,257 |
|
(15,335) |
|
Non-GAAP net income |
$ 29,132 |
|
$ 43,643 |
|
$ 13,560 |
|
|
|
|
|
|
|
|
GAAP net income (loss) per share - diluted |
$ 0.01 |
|
$ 0.02 |
|
$ (0.11) |
|
Share-based compensation expense |
0.04 |
|
0.02 |
|
0.03 |
|
Loss from manufacturing facility damage and shutdown |
0.02 |
|
0.01 |
|
- |
|
Acquisition-related charges (credits) |
- |
|
- |
|
0.01 |
|
French building underutilization and other |
- |
|
- |
|
- |
|
Restructuring (credits) charges |
- |
|
- |
|
0.10 |
|
Gain related to foundry arrangements |
- |
|
- |
|
- |
|
Recovery of receivables from foundry suppliers |
- |
|
- |
|
- |
|
Gain on sale of assets |
- |
|
- |
|
(0.01) |
|
Settlement charges |
- |
|
- |
|
0.05 |
|
Tax adjustments |
- |
|
0.05 |
|
(0.04) |
|
Non-GAAP net income per share - diluted |
$ 0.07 |
|
$ 0.10 |
|
$ 0.03 |
|
|
|
|
|
|
|
|
GAAP diluted shares |
427,276 |
|
428,008 |
|
428,999 |
|
Adjusted dilutive stock awards - non-GAAP |
8,501 |
|
9,503 |
|
13,768 |
|
Non-GAAP diluted shares |
435,777 |
|
437,511 |
|
442,767 |
