Applied Micro Circuits Corporation Reports Fourth Quarter & Full Year Fiscal 2016 Financial Results
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APPLIED MICRO CIRCUITS CORPORATION | | | | |
RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET LOSS | | | | |
(in thousands, except per share data) | | | | |
(unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | |
Three Months Ended | |
Year Ended | | | | | | | | |
March 31, | |
December 31, | |
March 31, | |
March 31, | |
March 31, | | | | | | | | | |
2016 | | | |
2015 | | | |
2015 | | | |
2016 | |
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2015 | | | | | | | | | | | | | | | | | | | | | | | GAAP net loss | $ | (8,907 | ) | | $ | (8,199 | ) | | $ | (15,144 | ) | | $ | (32,571 | ) | | $ | (52,058 | ) | | | | | Adjustments: | | | | | | | | | | | | | | | Stock-based compensation expense | | 7,637 | | | | 6,141 | | | | 4,002 | | | | 25,804 | | | | 18,305 | | | | | | | Amortization of purchased intangible assets | | - | | | | - | | | | - | | | | - | | | | 104 | | | | | | | Veloce acquisition consideration | | - | | | | - | | | | 2,090 | | | | - | | | | 9,230 | | | | | | | Restructuring | | (57 | ) | | | (29 | ) | | | 4,098 | | | | 25 | | | | 5,421 | | | | | | | Impairment of strategic investments | | - | | | | - | | | | 500 | | | | - | | | | 3,000 | | | | | | | Reversals of impairment charges upon sales of marketable securities | | - | | | | - | | | | (1,176 | ) | | | (1,694 | ) | | | (1,334 | ) | | | | | | Income tax effect on non-GAAP adjustments | | (84 | ) | | | (30 | ) | | | (151 | ) | | | (761 | ) | | | (458 | ) | | | | | | Total GAAP to non-GAAP adjustments | | 7,496 | | | | 6,082 | | | | 9,363 | | | | 23,374 | | | | 34,268 | | | | | | Non-GAAP net loss | $ | (1,411 | ) | | $ | (2,117 | ) | | $ | (5,781 | ) | | $ | (9,197 | ) | | $ | (17,790 | ) | | | | | | | | | | | | | | | | | | | | | | Diluted non-GAAP net loss per share | $ | (0.02 | ) | | $ | (0.03 | ) | | $ | (0.07 | ) | | $ | (0.11 | ) | | $ | (0.23 | ) | | | | | | | | | | | | | | | | | | | | | | Shares used in calculating diluted non-GAAP net loss per share | | 84,127 | | | | 83,191 | | | | 80,667 | | | | 82,668 | | | | 78,814 | | | | | | | | | | | | | | | | | | | | | | | Diluted net loss per share: | | | | | | | | | | | | | | | GAAP diluted net loss per share | $ | (0.11 | ) | | $ | (0.10 | ) | | $ | (0.19 | ) | | $ | (0.39 | ) | | $ | (0.66 | ) | | | | | | GAAP to non-GAAP adjustments | | 0.09 | | | | 0.07 | | | | 0.12 | | | | 0.28 | | | | 0.43 | | | | | | | Non-GAAP diluted net loss per share | $ | (0.02 | ) | | $ | (0.03 | ) | | $ | (0.07 | ) | | $ | (0.11 | ) | | $ | (0.23 | ) | | | | | | | | | | | | | | | | | | | |
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