|
ATMEL CORPORATION | |||
|
CONDENSED CONSOLIDATED BALANCE SHEETS | |||
|
(In thousands) | |||
|
(Unaudited) | |||
|
|
|
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
|
2013 |
|
2012 |
|
|
|
|
|
|
Current assets |
|
|
|
|
Cash and cash equivalents |
$ 268,790 |
|
$ 293,370 |
|
Short-term investments |
2,094 |
|
2,687 |
|
Accounts receivable, net |
197,990 |
|
188,488 |
|
Inventories |
287,539 |
|
348,273 |
|
Prepaids and other current assets |
123,285 |
|
125,019 |
|
Total current assets |
879,698 |
|
957,837 |
|
Fixed assets, net |
191,261 |
|
221,044 |
|
Goodwill |
106,894 |
|
104,430 |
|
Intangible assets, net |
29,842 |
|
27,257 |
|
Other assets |
160,760 |
|
122,965 |
|
Total assets |
$ 1,368,455 |
|
$ 1,433,533 |
|
|
|
|
|
|
Current liabilities |
|
|
|
|
Trade accounts payable |
$ 83,618 |
|
$ 103,980 |
|
Accrued and other liabilities |
175,131 |
|
203,510 |
|
Deferred income on shipments to distributors |
50,322 |
|
29,226 |
|
Total current liabilities |
309,071 |
|
336,716 |
|
Other long-term liabilities |
120,348 |
|
100,179 |
|
Total liabilities |
429,419 |
|
436,895 |
|
|
|
|
|
|
Stockholders' equity |
939,036 |
|
996,638 |
|
Total liabilities and stockholders' equity |
$ 1,368,455 |
|
$ 1,433,533 |
|
ATMEL CORPORATION |
|
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RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES |
|
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|
| |||||
|
(in thousands, except per share data) |
|
|
|
| |||||
|
(Unaudited) |
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended | ||||||
|
|
September 30, |
|
June 30, |
|
September 30, |
|
September 30, |
|
September 30, |
|
|
2013 |
|
2013 |
|
2012 |
|
2013 |
|
2012 |
|
|
|
|
|
|
|
|
|
|
|
|
GAAP gross margin |
$ 143,467 |
|
$ 147,925 |
|
$ 155,526 |
|
$ 422,697 |
|
$ 469,780 |
|
Loss (gain) related to foundry arrangements |
8,938 |
|
(1,514) |
|
- |
|
7,424 |
|
- |
|
Share-based compensation expense |
1,136 |
|
1,609 |
|
2,154 |
|
4,589 |
|
6,723 |
|
Non-GAAP gross margin |
$ 153,541 |
|
$ 148,020 |
|
$ 157,680 |
|
$ 434,710 |
|
$ 476,503 |
|
|
|
|
|
|
|
|
|
|
|
|
GAAP research and development expense |
$ 66,790 |
|
$ 67,362 |
|
$ 59,966 |
|
$ 202,460 |
|
$ 192,647 |
|
Share-based compensation expense |
(3,100) |
|
(3,016) |
|
(4,925) |
|
(10,724) |
|
(17,568) |
|
Non-GAAP research and development expense |
$ 63,690 |
|
$ 64,346 |
|
$ 55,041 |
|
$ 191,736 |
|
$ 175,079 |
|
|
|
|
|
|
|
|
|
|
|
|
GAAP selling, general and administrative expense |
$ 55,793 |
|
$ 58,912 |
|
$ 68,036 |
|
$ 178,282 |
|
$ 208,881 |
|
Share-based compensation expense |
(3,858) |
|
(2,855) |
|
(11,150) |
|
(15,023) |
|
(31,747) |
|
Non-GAAP selling, general and administrative expense |
$ 51,935 |
|
$ 56,057 |
|
$ 56,886 |
|
$ 163,259 |
|
$ 177,134 |
|
|
|
|
|
|
|
|
|
|
|
|
GAAP income (loss) from operations |
$ 11,050 |
|
$ 19,393 |
|
$ 27,398 |
|
$ (31,937) |
|
$ 60,549 |
|
Share-based compensation expense |
8,094 |
|
7,480 |
|
18,229 |
|
30,336 |
|
56,038 |
|
Acquisition-related charges |
1,685 |
|
1,759 |
|
1,530 |
|
5,699 |
|
5,442 |
|
Restructuring charges (credit) |
8,149 |
|
582 |
|
(1,404) |
|
51,545 |
|
12,950 |
|
Loss (gain) related to foundry arrangements |
8,938 |
|
(1,514) |
|
- |
|
7,424 |
|
- |
|
Recovery of receivables from foundry suppliers |
- |
|
(83) |
|
- |
|
(522) |
|
- |
|
Credit from reserved grant income |
- |
|
- |
|
- |
|
- |
|
(10,689) |
|
Gain on sale of assets |
- |
|
- |
|
- |
|
(4,430) |
|
- |
|
Settlement charges |
- |
|
- |
|
- |
|
21,600 |
|
- |
|
Non-GAAP income from operations |
$ 37,916 |
|
$ 27,617 |
|
$ 45,753 |
|
$ 79,715 |
|
$ 124,290 |
|
|
|
|
|
|
|
|
|
|
|
|
GAAP (provision for) benefit from income taxes |
$ (7,038) |
|
$ (5,679) |
|
$ (5,915) |
|
$ 1,644 |
|
$ (13,985) |
|
Adjustments for cash tax and other tax settlements |
(5,449) |
|
(4,057) |
|
(3,047) |
|
5,829 |
|
(9,200) |
|
Non-GAAP provision for income taxes |
$ (1,589) |
|
$ (1,622) |
|
$ (2,868) |
|
$ (4,185) |
|
$ (4,785) |
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income (loss) |
$ 5,426 |
|
$ 12,976 |
|
$ 21,636 |
|
$ (29,265) |
|
$ 42,777 |
|
Share-based compensation expense |
8,094 |
|
7,480 |
|
18,229 |
|
30,336 |
|
56,038 |
|
Acquisition-related charges |
1,685 |
|
1,759 |
|
1,530 |
|
5,699 |
|
5,442 |
|
Restructuring charges (credit) |
8,149 |
|
582 |
|
(1,404) |
|
51,545 |
|
12,950 |
|
Loss (gain) related to foundry arrangements |
8,938 |
|
(1,514) |
|
- |
|
7,424 |
|
- |
|
Recovery of receivables from foundry suppliers |
- |
|
(83) |
|
- |
|
(522) |
|
- |
|
Credit from reserved grant income |
- |
|
- |
|
- |
|
- |
|
(10,689) |
|
Gain on sale of assets |
- |
|
- |
|
- |
|
(4,430) |
|
- |
|
Settlement charges |
- |
|
- |
|
- |
|
21,600 |
|
- |
|
Tax adjustments |
5,449 |
|
4,057 |
|
3,047 |
|
(5,829) |
|
9,200 |
|
Non-GAAP net income |
$ 37,741 |
|
$ 25,257 |
|
$ 43,038 |
|
$ 76,558 |
|
$ 115,718 |
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income (loss) per share - diluted |
$ 0.01 |
|
$ 0.03 |
|
$ 0.05 |
|
$ (0.07) |
|
$ 0.10 |
|
Share-based compensation expense |
0.02 |
|
0.02 |
|
0.04 |
|
0.07 |
|
0.12 |
|
Acquisition-related charges |
0.01 |
|
0.00 |
|
0.00 |
|
0.01 |
|
0.01 |
|
Restructuring charges (credit) |
0.02 |
|
0.00 |
|
(0.00) |
|
0.12 |
|
0.03 |
|
Loss (gain) related to foundry arrangements |
0.02 |
|
(0.00) |
|
- |
|
0.02 |
|
- |
|
Recovery of receivables from foundry suppliers |
- |
|
(0.00) |
|
- |
|
(0.00) |
|
- |
|
Credit from reserved grant income |
- |
|
- |
|
- |
|
- |
|
(0.02) |
|
Gain on sale of assets |
- |
|
- |
|
- |
|
(0.01) |
|
- |
|
Settlement charges |
- |
|
- |
|
- |
|
0.05 |
|
- |
|
Tax adjustments |
0.01 |
|
0.01 |
|
0.01 |
|
(0.02) |
|
0.02 |
|
Non-GAAP net income per share - diluted |
$ 0.09 |
|
$ 0.06 |
|
$ 0.10 |
|
$ 0.17 |
|
$ 0.26 |
|
|
|
|
|
|
|
|
|
|
|
|
GAAP diluted shares |
429,639 |
|
430,536 |
|
433,295 |
|
427,944 |
|
438,232 |
|
Adjusted dilutive stock awards - non-GAAP |
9,207 |
|
9,131 |
|
11,034 |
|
11,707 |
|
11,840 |
|
Non-GAAP diluted shares |
438,846 |
|
439,667 |
|
444,329 |
|
439,651 |
|
450,072 |
