| APPLIED MICRO CIRCUITS CORPORATION | ||||||||||||||||||||||||||
| GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||||||||||||
| March 31, | December 31, | March 31, | March 31, | March 31, | ||||||||||||||||||||||
| 2016 | 2015 | 2015 | 2016 | 2015 | ||||||||||||||||||||||
| Net revenues | $ | 41,108 | $ | 40,623 | $ | 37,048 | $ | 159,287 | $ | 165,011 | ||||||||||||||||
| Cost of revenues | 16,934 | 18,241 | 16,482 | 69,739 | 69,297 | |||||||||||||||||||||
| Gross profit | 24,174 | 22,382 | 20,566 | 89,548 | 95,714 | |||||||||||||||||||||
| Operating expenses: | ||||||||||||||||||||||||||
| Research and development | 25,113 | 22,377 | 24,583 | 91,518 | 107,220 | |||||||||||||||||||||
| Selling, general and administrative | 8,138 | 8,232 | 7,959 | 33,507 | 33,643 | |||||||||||||||||||||
| Amortization of purchased intangible assets | - | - | - | - | 104 | |||||||||||||||||||||
| Restructuring | (57 | ) | (29 | ) | 4,098 | 25 | 5,421 | |||||||||||||||||||
| Total operating expenses | 33,194 | 30,580 | 36,640 | 125,050 | 146,388 | |||||||||||||||||||||
| Operating loss | (9,020 | ) | (8,198 | ) | (16,074 | ) | (35,502 | ) | (50,674 | ) | ||||||||||||||||
| Interest and other income (expense), net | 229 | 169 | 1,029 | 2,307 | (292 | ) | ||||||||||||||||||||
| Loss before income taxes | (8,791 | ) | (8,029 | ) | (15,045 | ) | (33,195 | ) | (50,966 | ) | ||||||||||||||||
| Income tax provision (benefit) | 116 | 170 | 99 | (624 | ) | 1,092 | ||||||||||||||||||||
| Net loss | $ | (8,907 | ) | $ | (8,199 | ) | $ | (15,144 | ) | $ | (32,571 | ) | $ | (52,058 | ) | |||||||||||
| Basic and diluted net loss per share: | $ | (0.11 | ) | $ | (0.10 | ) | $ | (0.19 | ) | $ | (0.39 | ) | $ | (0.66 | ) | |||||||||||
| Shares used in calculating basic and diluted net loss per share | 84,127 | 83,191 | 80,667 | 82,668 | 78,814 | |||||||||||||||||||||
Applied Micro Circuits Corporation Reports Fourth Quarter & Full Year Fiscal 2016 Financial Results
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