| APPLIED MICRO CIRCUITS CORPORATION | |||||||||||||||||||||||||
| RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET LOSS | |||||||||||||||||||||||||
| (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 | |||||||||||||||||||||
| GAAP net loss | $ | (8,907 | ) | $ | (8,199 | ) | $ | (15,144 | ) | $ | (32,571 | ) | $ | (52,058 | ) | ||||||||||
| Adjustments: | |||||||||||||||||||||||||
| Stock-based compensation expense | 7,637 | 6,141 | 4,002 | 25,804 | 18,305 | ||||||||||||||||||||
| Amortization of purchased intangible assets | - | - | - | - | 104 | ||||||||||||||||||||
| Veloce acquisition consideration | - | - | 2,090 | - | 9,230 | ||||||||||||||||||||
| Restructuring | (57 | ) | (29 | ) | 4,098 | 25 | 5,421 | ||||||||||||||||||
| Impairment of strategic investments | - | - | 500 | - | 3,000 | ||||||||||||||||||||
| Reversals of impairment charges upon sales of marketable securities | - | - | (1,176 | ) | (1,694 | ) | (1,334 | ) | |||||||||||||||||
| Income tax effect on non-GAAP adjustments | (84 | ) | (30 | ) | (151 | ) | (761 | ) | (458 | ) | |||||||||||||||
| Total GAAP to non-GAAP adjustments | 7,496 | 6,082 | 9,363 | 23,374 | 34,268 | ||||||||||||||||||||
| Non-GAAP net loss | $ | (1,411 | ) | $ | (2,117 | ) | $ | (5,781 | ) | $ | (9,197 | ) | $ | (17,790 | ) | ||||||||||
| Diluted non-GAAP net loss per share | $ | (0.02 | ) | $ | (0.03 | ) | $ | (0.07 | ) | $ | (0.11 | ) | $ | (0.23 | ) | ||||||||||
| Shares used in calculating diluted non-GAAP net loss per share | 84,127 | 83,191 | 80,667 | 82,668 | 78,814 | ||||||||||||||||||||
| Diluted net loss per share: | |||||||||||||||||||||||||
| GAAP diluted net loss per share | $ | (0.11 | ) | $ | (0.10 | ) | $ | (0.19 | ) | $ | (0.39 | ) | $ | (0.66 | ) | ||||||||||
| GAAP to non-GAAP adjustments | 0.09 | 0.07 | 0.12 | 0.28 | 0.43 | ||||||||||||||||||||
| Non-GAAP diluted net loss per share | $ | (0.02 | ) | $ | (0.03 | ) | $ | (0.07 | ) | $ | (0.11 | ) | $ | (0.23 | ) | ||||||||||
Applied Micro Circuits Corporation Reports Fourth Quarter & Full Year Fiscal 2016 Financial Results
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