PDF Solutions® Reports Fourth Fiscal Quarter and Fiscal Year 2017 Results
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PDF SOLUTIONS, INC. | | | | | | | | | | | | | | | | | |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | | | | | | | | | | |
(In thousands, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Three months ended | | |
Twelve months ended | | | | |
December 31, | |
September 30, | |
December 31, | | |
December 31, | |
December 31, | |
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2017 | | |
2017 | | |
2016 | | |
2017 | |
2016 | | | | | | | | | | | | | | | | | | | | | Revenues: | | | | | | | | | | | | | | | | | | Design-to-silicon-yield solutions | | | $ | 19,010 | | | $ | 19,229 | | | $ | 19,458 | | $ | 74,436 | | | $ | 77,162 | | | Gainshare performance incentives | | | | 7,766 | | | | 7,288 | | | | 8,975 | | | 27,435 | | | | 30,299 | | | Total revenues | | | | 26,776 | | | | 26,517 | | | | 28,433 | | | 101,871 | | | | 107,461 | | | | | | | | | | | | | | | | | | | | | Costs of Design-to-silicon-yield solutions: | | | | | | | | | | | | | | | | | | Direct costs of Design-to-silicon-yield solutions | | | | 12,137 | | | | 12,295 | | | | 12,040 | | | 47,050 | | | | 44,074 | | | Amortization of acquired technology | | | | 144 | | | | 136 | | | | 96 | | | 471 | | | | 374 | | | Total costs of Design-to-silicon-yield solutions | | | | 12,281 | | | | 12,431 | | | | 12,136 | | | 47,521 | | | | 44,448 | | | Gross profit | | | | 14,495 | | | | 14,086 | | | | 16,297 | | | 54,350 | | | | 63,013 | | | | | | | | | | | | | | | | | | | | | Operating expenses: | | | | | | | | | | | | | | | | | | Research and development | | | | 7,646 | | | | 7,875 | | | | 7,171 | | | 30,078 | | | | 27,559 | | | Selling, general and administrative | | | | 5,909 | | | | 5,680 | | | | 6,290 | | | 23,684 | | | | 22,056 | | | Amortization of other acquired intangible assets | | | | 107 | | | | 107 | | | | 92 | | | 398 | | | | 432 | | | Total operating expenses | | | | 13,662 | | | | 13,662 | | | | 13,553 | | | 54,160 | | | | 50,047 | | | | | | | | | | | | | | | | | | | | | Income from operations | | | | 833 | | | | 424 | | | | 2,744 | | | 190 | | | | 12,966 | | | Interest and other income (expense), net | | | | 42 | | | | (104 | ) | | | 378 | | | (264 | ) | | | (10 | ) | | Income (loss) before income taxes | | | | 875 | | | | 320 | | | | 3,122 | | | (74 | ) | | | 12,956 | | | Income tax provision (benefit) | | | | 3,509 | | | | (270 | ) | | | 197 | | | 1,263 | | | | 3,853 | | | Net income (loss) | | | $ | (2,634 | ) | | $ | 590 | | | $ | 2,925 | | $ | (1,337 | ) | | $ | 9,103 | | | | | | | | | | | | | | | | | | | | | Net income (loss) per share: | | | | | | | | | | | | | | | | | | Basic | | | $ | (0.08 | ) | | $ | 0.02 | | | $ | 0.09 | | $ | (0.04 | ) | | $ | 0.29 | | | Diluted | | | $ | (0.08 | ) | | $ | 0.02 | | | $ | 0.09 | | $ | (0.04 | ) | | $ | 0.28 | | | | | | | | | | | | | | | | | | | | | Weighted average common shares: | | | | | | | | | | | | | | | | | | Basic | | | | 31,971 | | | | 32,078 | | | | 31,636 | | | 32,038 | | | | 31,373 | | | Diluted | | | | 31,971 | | | | 32,969 | | | | 33,293 | | | 32,038 | | | | 32,431 | | | | | | | | | | | | | | | | | | | |
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