| Analog Devices, Fourth Quarter, Fiscal 2015 | |||||||||||||||||
|
Schedule E |
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| Reconciliation from GAAP to Non-GAAP Revenue and Earnings Measures (In thousands, except per-share amounts) (Unaudited) | |||||||||||||||||
| See "Non-GAAP Financial Information" in this press release for a description of the items excluded from our non-GAAP measures. | |||||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||||
| 4Q 15 | 3Q 15 | 4Q 14 | FY 15 | FY 14 | |||||||||||||
|
Oct. 31,
2015 |
Aug. 1,
2015 |
Nov. 1,
2014 |
Oct. 31,
2015 |
Nov. 1,
2014 |
|||||||||||||
| GAAP Revenue | $ | 978,722 | $ | 863,365 | $ | 814,247 | $ | 3,435,092 | $ | 2,864,773 | |||||||
| Y/Y Revenue growth % | 20% | 9% | |||||||||||||||
| Q/Q Revenue growth % | 13% | 5% | 12% | ||||||||||||||
| Hittite Operations | - | - | - | - | (5,392) | ||||||||||||
| Non-GAAP Revenue | $ | 978,722 | $ | 863,365 | $ | 814,247 | $ | 3,435,092 | $ | 2,859,381 | |||||||
| Y/Y Revenue growth % | 20% | 9% | |||||||||||||||
| Q/Q Revenue growth % | 13% | 5% | 13% | ||||||||||||||
| GAAP Gross Margin | $ | 641,796 | $ | 569,037 | $ | 486,037 | $ | 2,259,262 | $ | 1,830,188 | |||||||
| Gross Margin Percentage | 65.6% | 65.9% | 59.7% | 65.8% | 63.9% | ||||||||||||
| Hittite Operations | - | - | - | (3,015) | |||||||||||||
| Acquisition-Related Expenses | 1,399 | 1,307 | 54,388 | 7,199 | 61,225 | ||||||||||||
| Stock-Based Compensation Expense | - | - | (113) | 113 | (113) | ||||||||||||
| Non-GAAP Gross Margin | $ | 643,195 | $ | 570,344 | $ | 540,312 | $ | 2,266,574 | $ | 1,888,285 | |||||||
| Gross Margin Percentage | 65.7% | 66.1% | 66.4% | 66.0% | 66.0% | ||||||||||||
| GAAP Operating Expenses | $ | 533,166 | $ | 303,768 | $ | 336,108 | $ | 1,428,421 | $ | 1,077,704 | |||||||
| Percent of Revenue | 54.5% | 35.2% | 41.3% | 41.6% | 37.6% | ||||||||||||
| Other Operating Expense | (223,672) | - | - | (223,672) | - | ||||||||||||
| Hittite Operations | - | - | - | - | (2,033) | ||||||||||||
| Acquisition-Related Expenses | (17,682) | (23,490) | (27,166) | (89,738) | (32,450) | ||||||||||||
| Acquisition-Related Transaction Costs | - | (5,139) | (5,987) | (10,016) | (27,110) | ||||||||||||
| Restructuring-Related Expense | - | - | (34,637) | - | (37,322) | ||||||||||||
| Stock-Based Compensation Expense | - | - | 1,302 |
|
(4,164) | 1,302 | |||||||||||
| Non-GAAP Operating Expenses | $ | 291,812 | $ | 275,139 | $ | 269,620 | $ | 1,100,831 | $ | 980,091 | |||||||
| Percent of Revenue | 29.8% | 31.9% | 33.1% | 32.0% | 34.3% | ||||||||||||
| GAAP Operating Income/Margin | $ | 108,630 | $ | 265,269 | $ | 149,929 | $ | 830,841 | $ | 752,484 | |||||||
| Percent of Revenue | 11.1% | 30.7% | 18.4% | 24.2% | 26.3% | ||||||||||||
| Other Operating Expense | 223,672 | - | - | 223,672 | - | ||||||||||||
| Hittite Operations | - | - | - | - | (982) | ||||||||||||
| Acquisition-Related Expenses | 19,081 | 24,797 | 81,554 | 96,937 | 93,675 | ||||||||||||
| Acquisition-Related Transaction Costs | - | 5,139 | 5,987 | 10,016 | 27,110 | ||||||||||||
| Restructuring-Related Expense | - | - | 34,637 | - | 37,322 | ||||||||||||
| Stock-Based Compensation Expense | - | - | (1,415) | 4,277 | (1,415) | ||||||||||||
| Non-GAAP Operating Income/Margin | $ | 351,383 | $ | 295,205 | $ | 270,692 | $ | 1,165,743 | $ | 908,194 | |||||||
| Percent of Revenue | 35.9% | 34.2% | 33.2% | 33.9% | 31.8% | ||||||||||||
| GAAP Other Expense (Income) | $ | 3,953 | $ | 5,791 | $ | 11,231 | $ | 20,727 | $ | 23,139 | |||||||
| Percent of Revenue | 0.4% | 0.7% | 1.4% | 0.6% | 0.8% | ||||||||||||
| Acquisition-Related Debt Costs | - | - | (4,823) | - | (6,336) | ||||||||||||
| Non-GAAP Other Expense | $ | 3,953 | $ | 5,791 | $ | 6,408 | $ | 20,727 | $ | 16,803 | |||||||
| Percent of Revenue | 0.4% | 0.7% | 0.8% | 0.6% | 0.6% | ||||||||||||
| GAAP Diluted EPS | $ | 0.30 | $ | 0.68 | $ | 0.34 | $ | 2.20 | $ | 1.98 | |||||||
| Impact of Loss on Extinguishment of Debt | - | - | - | - | |||||||||||||
| Other Operating Expense | 0.71 | - | - | 0.71 | - | ||||||||||||
| Hittite Operations | - | - | - | - | - | ||||||||||||
| Acquisition-Related Expenses | 0.06 | 0.08 | 0.25 | 0.30 | 0.27 | ||||||||||||
| Acquisition-Related Transaction Costs | - | 0.02 | 0.01 | 0.03 | 0.05 | ||||||||||||
| Acquisition-Related Debt Costs | - | - | 0.01 | - | 0.01 | ||||||||||||
| Acquisition-Related Tax Impact | - | (0.00) | (0.02) | (0.01) | (0.02) | ||||||||||||
| Restructuring-Related Expense | - | - | 0.09 | - | 0.10 | ||||||||||||
| Stock-Based Compensation Expense | - | - | - | 0.01 | - | ||||||||||||
| Impact of Reversal of Prior Period Tax Liabilities | (0.04) | - | - | (0.04) | - | ||||||||||||
| Impact of the Reinstatement of the R&D Tax Credit | - | - | - | (0.02) | - | ||||||||||||
| Non-GAAP Diluted EPS (1) | $ | 1.03 | $ | 0.77 | $ | 0.69 | $ | 3.17 | $ | 2.39 | |||||||
Analog Devices Reports Fourth Quarter and Fiscal Year 2015 Results
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