PDF Solutions Reports Fourth Fiscal Quarter and Fiscal Year 2018

PDF Solutions Reports Fourth Fiscal Quarter and Fiscal Year 2018 Results

PDF SOLUTIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except per share amounts)

	Three months ended										Year ended
	December 31,			September 30,			December 31,			December 31,			December 31,
	2018			2018			2017			2018			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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