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| ANALYSIS OF GAAP VERSUS GAAP EXCLUDING SPECIAL ITEMS DISCLOSURES |
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| (Unaudited) |
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| Three Months Ended |
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| September 29, |
| June 30, |
| September 23, |
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| 2018 |
| 2018 |
| 2017 |
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| (in thousands, except per share data) |
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| Reconciliation of GAAP gross profit to GAAP gross profit excluding special items: |
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| GAAP gross profit | $ 430,236 |
| $ 418,668 |
| $ 373,831 |
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| GAAP gross profit % | 67.4% |
| 66.1% |
| 64.9% |
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| Special items: |
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| Intangible asset amortization | 6,915 |
| 11,759 |
| 11,064 |
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| Total special items | 6,915 |
| 11,759 |
| 11,064 |
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| GAAP gross profit excluding special items | $ 437,151 |
| $ 430,427 |
| $ 384,895 |
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| GAAP gross profit % excluding special items | 68.5% |
| 68.0% |
| 66.9% |
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| Reconciliation of GAAP operating expenses to GAAP operating expenses excluding special items: |
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| GAAP operating expenses | $ 196,053 |
| $ 196,273 |
| $ 188,665 |
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| Special items: |
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| Intangible asset amortization | 773 |
| 844 |
| 1,752 |
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| Impairment of long-lived assets | — |
| — |
| 42 |
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| Severance and restructuring | 994 |
| 833 |
| 5,433 |
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| Other operating expenses (income), net | 60 |
| (71) |
| (844) |
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| Total special items | 1,827 |
| 1,606 |
| 6,383 |
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| GAAP operating expenses excluding special items | $ 194,226 |
| $ 194,667 |
| $ 182,282 |
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| Reconciliation of GAAP net income (loss) to GAAP net income excluding special items: |
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| GAAP net income (loss) | $ 197,423 |
| $ 194,172 |
| $ 154,533 |
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| Special items: |
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| Intangible asset amortization | 7,688 |
| 12,603 |
| 12,816 |
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| Impairment of long-lived assets | — |
| — |
| 42 |
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| Severance and restructuring | 994 |
| 833 |
| 5,433 |
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| Other operating expenses (income), net | 60 |
| (71) |
| (844) |
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| Interest and other expense (income), net | (378) |
| (941) |
| (84) |
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| Pre-tax total special items | 8,364 |
| 12,424 |
| 17,363 |
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| Other income tax effects and adjustments | 4,754 |
| 1,194 |
| (1,345) |
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| GAAP net income excluding special items | $ 210,541 |
| $ 207,790 |
| $ 170,551 |
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| GAAP net income per share excluding special items: |
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| Basic | $ 0.76 |
| $ 0.74 |
| $ 0.60 |
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| Diluted | $ 0.75 |
| $ 0.73 |
| $ 0.60 |
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| Shares used in the calculation of earnings per share excluding special items: |
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| Basic | 278,045 |
| 279,304 |
| 282,170 |
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| Diluted | 282,454 |
| 283,934 |
| 286,437 |
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Maxim Integrated Reports Results For The First Quarter Of Fiscal 2019
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