Applied Micro Circuits Corporation Reports First Quarter Fiscal

Applied Micro Circuits Corporation Reports First Quarter Fiscal 2017 Financial Results


APPLIED MICRO CIRCUITS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)

				Three Months Ended
				June 30,			March 31,			June 30,
					2016			2016			2015
Operating activities:
	Net loss			$	(10,539	)	$	(8,907	)	$	(7,404	)
	Adjustments to reconcile net loss to net cash provided by operating activities:
		Depreciation			1,570			1,891			1,838
		Amortization of bond premium			226			258			-
		Stock-based compensation expense			8,165			7,637			6,092
		Tax effect on other comprehensive loss			(94	)		49			-
		Loss (gain) on short-term investments and other, net			(26	)		7			(1,455	)
	Changes in operating assets and liabilities:
		Accounts receivable			102			3,187			882
		Inventories			3,552			3,533			3,723
		Other assets			(70	)		3,891			2,464
		Accounts payable			(2,382	)		(4,248	)		(3,453	)
		Accrued payroll and other accrued liabilities			1,077			(1,018	)		220
		Veloce accrued liability			(8	)		(9	)		(65	)
		Deferred revenue			1			(7	)		7
			Net cash provided by operating activities		1,574			6,264			2,849
Investing activities:
	Proceeds from sales and maturities of short-term investments				18,461			5,487			7,444
	Purchases of short-term investments				(17,739	)		(6,443	)		(1,129	)
	Proceeds from sale of property and equipment				2			-			25
	Purchases of property and equipment				(2,547	)		(562	)		(315	)
			Net cash provided by (used for) investing activities		(1,823	)		(1,518	)		6,025
Financing activities:
	Proceeds from issuance of common stock				32			1,736			133
	Funding of restricted stock units withheld for taxes and other				(623	)		(187	)		(1,212	)
			Net cash provided by (used for) financing activities		(591	)		1,549			(1,079	)
Net increase (decrease) in cash and cash equivalents					(840	)		6,295			7,795
Cash and cash equivalents at beginning of the period					25,065			18,770			36,495
Cash and cash equivalents at end of the period				$	24,225		$	25,065		$	44,290

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 Next Page »