PDF Solutions Reports Fourth Fiscal Quarter and Fiscal Year 2018 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 | | |
Year ended
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December 31, | |
September 30, | |
December 31, | |
December 31, |
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December 31, | |
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2018 | |
2018 | |
2017 | |
2018
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2017
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Revenues: | | | | | | | | | | | | | | | | Design-to-silicon-yield solutions | $ | 12,650 | | | $ | 13,976 | | | $ | 19,010 | | | $ | 60,081 | | | $ | 74,436 | | | Gainshare performance incentives | | 7,075 | | | | 6,237 | | | | 7,766 | | | | 25,713 | | | | 27,435 | | | Total revenues | | 19,725 | | | | 20,213 | | | | 26,776 | | | | 85,794 | | | | 101,871 | | | | | | | | | | | | | | | | | | | Costs of Design-to-silicon-yield solutions: | | | | | | | | | | | | | | | | Direct costs of Design-to-silicon-yield solutions | | 9,577 | | | | 10,539 | | | | 12,137 | | | | 42,228 | | | | 47,050 | | | Amortization of acquired technology | | 144 | | | | 144 | | | | 144 | | | | 575 | | | | 471 | | | Total costs of Design-to-silicon-yield solutions | | 9,721 | | | | 10,683 | | | | 12,281 | | | | 42,803 | | | | 47,521 | | | Gross profit | | 10,004 | | | | 9,530 | | | | 14,495 | | | | 42,991 | | | | 54,350 | | | | | | | | | | | | | | | | | | | Operating expenses: | | | | | | | | | | | | | | | | Research and development | | 6,898 | | | | 6,755 | | | | 7,646 | | | | 27,998 | | | | 30,078 | | | Selling, general and administrative | | 6,133 | | | | 5,507 | | | | 5,909 | | | | 23,934 | | | | 23,684 | | | Amortization of other acquired intangible assets | | 109 | | | | 108 | | | | 107 | | | | 435 | | | | 398 | | | Restructuring charges | | 576 | | | | — | | | | — | | | | 576 | | | | — | | | Total operating expenses | | 13,716 | | | | 12,370 | | | | 13,662 | | | | 52,943 | | | | 54,160 | | | | | | | | | | | | | | | | | | | Income (loss) from operations | | (3,712 | ) | | | (2,840 | ) | | | 833 | | | | (9,952 | ) | | | 190 | | | Interest and other income (expense), net | | 210 | | | | 223 | | | | 42 | | | | 493 | | | | (264 | ) | | Income (loss) before income taxes | | (3,502 | ) | | | (2,617 | ) | | | 875 | | | | (9,459 | ) | | | (74 | ) | | Income tax provision (benefit) | | (388 | ) | | | (535 | ) | | | 3,509 | | | | (1,743 | ) | | | 1,263 | | | Net loss | $ | (3,114 | ) | | $ | (2,082 | ) | | $ | (2,634 | ) | | $ | (7,716 | ) | | $ | (1,337 | ) | | | | | | | | | | | | | | | | | | Net loss per share: | | | | | | | | | | | | | | | | Basic | $ | (0.10 | ) | | $ | (0.06 | ) | | $ | (0.08 | ) | | $ | (0.24 | ) | | $ | (0.04 | ) | | Diluted | $ | (0.10 | ) | | $ | (0.06 | ) | | $ | (0.08 | ) | | $ | (0.24 | ) | | $ | (0.04 | ) | | | | | | | | | | | | | | | | | | Weighted average common shares: | | | | | | | | | | | | | | | | Basic | | 32,306 | | | | 32,184 | | | | 31,971 | | | | 32,169 | | | | 32,038 | | | Diluted | | 32,306 | | | | 32,184 | | | | 31,971 | | | | 32,169 | | | | 32,038 | | | | | | | | | | | | | | | | | |
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