|
|
|
|
|
|
|
|
|
|
ANALYSIS OF GAAP VERSUS GAAP EXCLUDING SPECIAL ITEMS DISCLOSURES |
| ||||||
|
(Unaudited) |
| ||||||
|
|
|
Three Months Ended |
| ||||
|
|
|
September 26, |
|
June 27, |
|
September 27, |
|
|
|
|
2015 |
|
2015 |
|
2014 |
|
|
|
|
(in thousands, except per share data) |
| ||||
|
Reconciliation of GAAP gross profit to GAAP gross profit excluding special items: |
|
|
|
|
|
|
|
|
GAAP gross profit |
|
$ 286,351 |
|
$ 303,701 |
|
$ 338,821 |
|
|
GAAP gross profit % |
|
50.9% |
|
52.1% |
|
58.4% |
|
|
|
|
|
|
|
|
|
|
|
Special items: |
|
|
|
|
|
|
|
|
Intangible asset amortization |
|
16,638 |
|
18,116 |
|
18,750 |
|
|
Accelerated depreciation (1) |
|
43,631 |
|
32,765 |
|
- |
|
|
Total special items |
|
60,269 |
|
50,881 |
|
18,750 |
|
|
GAAP gross profit excluding special items |
|
$ 346,620 |
|
$ 354,582 |
|
$ 357,571 |
|
|
GAAP gross profit % excluding special items |
|
61.6% |
|
60.9% |
|
61.6% |
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of GAAP operating expenses to GAAP operating expenses excluding special items: |
|
|
|
|
|
|
|
|
GAAP operating expenses |
|
$ 362,116 |
|
$ 208,753 |
|
$ 237,863 |
|
|
|
|
|
|
|
|
|
|
|
Special items: |
|
|
|
|
|
|
|
|
Intangible asset amortization |
|
3,591 |
|
3,618 |
|
4,327 |
|
|
Impairment of long-lived assets (2) |
|
157,697 |
|
549 |
|
10,226 |
|
|
Severance and restructuring (3) |
|
7,126 |
|
12,798 |
|
1,385 |
|
|
Other operating expenses (income), net (4) |
|
315 |
|
(2,296) |
|
1,574 |
|
|
Total special items |
|
168,729 |
|
14,669 |
|
17,512 |
|
|
GAAP operating expenses excluding special items |
|
$ 193,387 |
|
$ 194,084 |
|
$ 220,351 |
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of GAAP net income (loss) to GAAP net income excluding special items: |
|
|
|
|
|
|
|
|
GAAP net income (loss) |
|
$ (72,143) |
|
$ 98,659 |
|
$ 99,980 |
|
|
|
|
|
|
|
|
|
|
|
Special items: |
|
|
|
|
|
|
|
|
Intangible asset amortization |
|
20,229 |
|
21,734 |
|
23,077 |
|
|
Accelerated depreciation (1) |
|
43,631 |
|
32,765 |
|
- |
|
|
Impairment of long-lived assets (2) |
|
157,697 |
|
549 |
|
10,226 |
|
|
Severance and restructuring (3) |
|
7,126 |
|
12,798 |
|
1,385 |
|
|
Other operating expenses (income), net (4) |
|
315 |
|
(2,296) |
|
1,574 |
|
|
Interest and other expense (income), net (5) |
|
(109) |
|
(35,849) |
|
- |
|
|
Pre-tax total special items |
|
228,889 |
|
29,701 |
|
36,262 |
|
|
Reversal of tax reserves (6) |
|
- |
|
- |
|
(21,747) |
|
|
Other income tax effects and adjustments (7) |
|
(36,434) |
|
(4,267) |
|
(5,873) |
|
|
GAAP net income excluding special items |
|
$ 120,312 |
|
$ 124,093 |
|
$ 108,622 |
|
|
|
|
|
|
|
|
|
|
|
GAAP net income per share excluding special items: |
|
|
|
|
|
|
|
|
Basic |
|
$ 0.42 |
|
$ 0.44 |
|
$ 0.38 |
|
|
Diluted |
|
$ 0.42 |
|
$ 0.43 |
|
$ 0.38 |
|
|
|
|
|
|
|
|
|
|
|
Shares used in the calculation of earnings per share excluding special items: |
|
|
|
|
|
|
|
|
Basic |
|
284,588 |
|
284,202 |
|
284,086 |
|
|
Diluted (8) |
|
288,897 |
|
289,346 |
|
289,430 |
|
|
|
|
|
|
|
|
|
|
(1) |
Building and equipment accelerated depreciation related to San Jose and Dallas manufacturing facilities. |
| ||||||
(2) |
Includes impairment charges related to the San Antonio wafer manufacturing facility, and other impairment of wafer manufacturing equipment, end of line test equipment, and software. |
| ||||||
(3) |
Includes severance charges associated with several reorganizations, primarily various business units and manufacturing operations. |
| ||||||
(4) |
Other operating expenses (income), net are primarily for loss (gain) relating to sale of assets, and expected loss on lease abandonment. |
| ||||||
(5) |
Includes sale of a business and impairment of investments in privately-held companies. |
| ||||||
(6) |
Includes reversal of tax reserves related to the favorable settlement of a foreign tax issue. |
| ||||||
(7) |
Includes tax effect of pre-tax special items and miscellaneous tax adjustments. |
| ||||||
(8) |
Shares used in diluted earnings per share excluding special items differs from GAAP loss per share due to net income on a non-GAAP basis. |
| ||||||
|
|
Maxim Integrated Reports Results For The First Quarter Of Fiscal 2016
| | More IC News |
|
RELATED NEWS
Latest Blog Posts
Team ShareCG
by Team ShareCG
Change in payment schedule for Vendors !!!