Intersil Corporation | ||||||
Non-GAAP Results | ||||||
Unaudited | ||||||
(In thousands, except percentages) | ||||||
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Quarter Ended | |||||
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Apr. 1, |
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Jan. 1, |
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Apr. 3, | |
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2016 |
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2016 |
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2015 | |
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Q1 2016 |
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Q4 2015 |
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Q1 2015 | |
Non-GAAP gross profit: |
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GAAP gross profit |
$ 75,960 |
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$ 72,919 |
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$ 80,326 | |
Equity-based compensation COS |
458 |
|
268 |
|
392 | |
Non-GAAP gross profit |
$ 76,418 |
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$ 73,187 |
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$ 80,718 | |
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Non-GAAP gross margin: |
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GAAP gross margin |
58.8% |
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57.6% |
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59.9% | |
Equity-based compensation COS |
0.3% |
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0.2% |
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0.3% | |
Non-GAAP gross margin |
59.1% |
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57.8% |
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60.2% | |
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Non-GAAP R&D expenses: |
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GAAP R&D expenses |
$ 33,678 |
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$ 29,983 |
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$ 32,017 | |
Equity-based compensation |
(3,103) |
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(2,368) |
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(2,751) | |
Non-GAAP R&D expenses: |
$ 30,575 |
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$ 27,615 |
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$ 29,266 | |
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Non-GAAP SG&A expenses: |
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GAAP SG&A expenses |
$ 23,549 |
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$ 22,784 |
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$ 25,453 | |
Equity-based compensation |
(2,921) |
|
(2,512) |
|
(2,613) | |
Acquisition-related costs |
(585) |
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- |
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- | |
Non-GAAP SG&A expenses: |
$ 20,043 |
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$ 20,272 |
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$ 22,840 | |
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Non-GAAP operating expenses: |
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GAAP operating expenses |
$ 60,755 |
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$ 57,028 |
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$ 144,131 | |
Provision for TAOS litigation |
- |
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- |
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(81,100) | |
Equity-based compensation (excl. COS) |
(6,024) |
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(4,880) |
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(5,364) | |
Amortization of purchased intangibles |
(3,528) |
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(4,261) |
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(5,561) | |
Acquisition-related costs |
(585) |
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- |
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- | |
Non-GAAP operating expenses |
$ 50,618 |
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$ 47,887 |
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$ 52,106 | |
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Non-GAAP operating income: |
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GAAP operating income (loss) |
$ 15,205 |
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$ 15,891 |
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$ (63,805) | |
Provision for TAOS litigation |
- |
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- |
|
81,100 | |
Equity-based compensation |
6,482 |
|
5,148 |
|
5,756 | |
Amortization of purchased intangibles |
3,528 |
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4,261 |
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5,561 | |
Acquisition-related costs |
585 |
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- |
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- | |
Non-GAAP operating income |
$ 25,800 |
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$ 25,300 |
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$ 28,612 | |
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Non-GAAP operating margin: |
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GAAP operating margin |
11.8% |
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12.5% |
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(47.6%) | |
Excluded items as a percent of revenue |
8.2% |
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7.5% |
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68.9% | |
Non-GAAP operating margin |
20.0% |
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20.0% |
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21.3% |
Intersil Corporation Reports First Quarter Results
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