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Lattice Semiconductor Corporation - Reconciliation of U.S. GAAP to Non-GAAP Financial Measures - (in thousands, except per share data) (unaudited) |
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| Three Months Ended | ||||||||||||
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April 2,
2016 |
January 2,
2016 |
April 4,
2015 |
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| GAAP Revenue | $ | 96,512 | $ | 101,194 | $ | 88,597 | ||||||
| Fair value adjustment to deferred revenue from purchase accounting | — | 96 | 1,809 | |||||||||
| Non-GAAP Revenue | $ | 96,512 | $ | 101,290 | $ | 90,406 | ||||||
| GAAP Cost of products sold | $ | 39,408 | $ | 47,092 | $ | 40,765 | ||||||
| Fair value adjustment to deferred revenue from purchase accounting | — | — | 644 | |||||||||
| Inventory step-up expense | (523 | ) | (716 | ) | (3,041 | ) | ||||||
| Stock-based compensation - gross margin | (259 | ) | (372 | ) | (240 | ) | ||||||
| Non-GAAP Cost of products sold | $ | 38,626 | $ | 46,004 | $ | 38,128 | ||||||
| GAAP Gross margin | $ | 57,104 | $ | 54,102 | $ | 47,832 | ||||||
| Fair value adjustment to deferred revenue from purchase accounting | — | 96 | 1,165 | |||||||||
| Inventory step-up expense | 523 | 716 | 3,041 | |||||||||
| Stock-based compensation - gross margin | 259 | 372 | 240 | |||||||||
| Non-GAAP Gross margin | $ | 57,886 | $ | 55,286 | $ | 52,278 | ||||||
| Non-GAAP Gross margin % | 60.0 | % | 54.6 | % | 57.8 | % | ||||||
| GAAP Operating expenses | $ | 70,462 | $ | 90,550 | $ | 74,764 | ||||||
| Amortization of acquired intangible assets | (8,721 | ) | (8,756 | ) | (2,942 | ) | ||||||
| Restructuring charges | (5,431 | ) | (3,459 | ) | (4,894 | ) | ||||||
| Acquisition related charges (1) | (94 | ) | (372 | ) | (18,198 | ) | ||||||
| Impairment of goodwill and intangible assets | — | (21,655 | ) | — | ||||||||
| Stock-based compensation - operations | (4,297 | ) | (4,416 | ) | (3,144 | ) | ||||||
| Non-GAAP Operating expenses | $ | 51,919 | $ | 51,892 | $ | 45,586 | ||||||
| GAAP Loss from operations | $ | (13,358 | ) | $ | (36,448 | ) | $ | (26,932 | ) | |||
| Fair value adjustment to deferred revenue from purchase accounting | — | 96 | 1,165 | |||||||||
| Inventory step-up expense | 523 | 716 | 3,041 | |||||||||
| Stock-based compensation - gross margin | 259 | 372 | 240 | |||||||||
| Amortization of acquired intangible assets | 8,721 | 8,756 | 2,942 | |||||||||
| Restructuring charges | 5,431 | 3,459 | 4,894 | |||||||||
| Acquisition related charges (1) | 94 | 372 | 18,198 | |||||||||
| Impairment of goodwill and intangible assets | — | 21,655 | — | |||||||||
| Stock-based compensation - operations | 4,297 | 4,416 | 3,144 | |||||||||
| Non-GAAP Income from operations | $ | 5,967 | $ | 3,394 | $ | 6,692 | ||||||
Lattice Semiconductor Reports First Quarter 2016 Results
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