| PDF SOLUTIONS, INC. | |||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | |||||||||||||||||||
| (In thousands, except per share amounts) | |||||||||||||||||||
| Three months ended | Nine months ended | ||||||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | |||||||||||||||
| 2015 | 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| Revenues: | |||||||||||||||||||
| Design-to-silicon-yield solutions | $ | 17,246 | $ | 14,159 | $ | 10,860 | $ | 49,557 | $ | 38,871 | |||||||||
| Gainshare performance incentives | 6,632 | 9,051 | 11,546 | 24,348 | 35,231 | ||||||||||||||
| Total revenues | 23,878 | 23,210 | 22,406 | 73,905 | 74,102 | ||||||||||||||
| Costs of Design-to-silicon-yield solutions: | |||||||||||||||||||
| Direct costs of Design-to-silicon-yield solutions | 10,172 | 9,888 | 9,722 | 28,863 | 28,273 | ||||||||||||||
| Impairment of deferred costs | - | - | 1,892 | - | 1,892 | ||||||||||||||
| Amortization of acquired technology | 80 | - | - | 80 | - | ||||||||||||||
| Total costs of Design-to-silicon-yield solutions | 10,252 | 9,888 | 11,614 | 28,943 | 30,165 | ||||||||||||||
| Gross profit | 13,626 | 13,322 | 10,792 | 44,962 | 43,937 | ||||||||||||||
| Operating expenses: | |||||||||||||||||||
| Research and development | 5,173 | 4,437 | 3,349 | 13,698 | 10,282 | ||||||||||||||
| Selling, general and administrative | 5,665 | 5,216 | 4,498 | 15,336 | 13,487 | ||||||||||||||
| Amortization of other acquired intangible assets | 89 | - | - | 89 | 31 | ||||||||||||||
| Restructuring charges | - | - | - | - | 57 | ||||||||||||||
| Total operating expenses | 10,927 | 9,653 | 7,847 | 29,123 | 23,857 | ||||||||||||||
| Income from operations | 2,699 | 3,669 | 2,945 | 15,839 | 20,080 | ||||||||||||||
| Interest and other income (expense), net | 64 | 52 | 33 | 166 | (82 | ) | |||||||||||||
| Income before income taxes | 2,763 | 3,721 | 2,978 | 16,005 | 19,998 | ||||||||||||||
| Income tax provision | 1,269 | 1,572 | 1,217 | 6,395 | 7,287 | ||||||||||||||
| Net income | $ | 1,494 | $ | 2,149 | $ | 1,761 | $ | 9,610 | $ | 12,711 | |||||||||
| Net income per share: | |||||||||||||||||||
| Basic | $ | 0.05 | $ | 0.07 | $ | 0.06 | $ | 0.31 | $ | 0.41 | |||||||||
| Diluted | $ | 0.05 | $ | 0.07 | $ | 0.05 | $ | 0.30 | $ | 0.40 | |||||||||
| Weighted average common shares: | |||||||||||||||||||
| Basic | 31,516 | 31,522 | 30,876 | 31,458 | 30,648 | ||||||||||||||
| Diluted | 32,106 | 32,400 | 32,079 | 32,266 | 31,975 | ||||||||||||||
PDF Solutions® Reports Third Fiscal Quarter Results
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