Lattice Semiconductor Reports First Quarter 2016 Results

(1) Includes stock-based compensation and severance costs related to change in control.

 
Lattice Semiconductor Corporation
- Reconciliation of U.S. GAAP to Non-GAAP Financial Measures -
(in thousands, except per share data)
(unaudited)
           
Three Months Ended
April 2,
2016
  January 2,
2016
  April 4,
2015
 

GAAP Loss before income taxes and equity in net loss of an
unconsolidated affiliate

$ (17,501 ) $ (41,452 ) $ (28,682 )
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 (loss) before income taxes and equity in net loss of
an unconsolidated affiliate

$ 1,824 $ (1,610 ) $ 4,942
 
 
GAAP Income tax expense $ 1,900 $ 3,510 $ 24,665
Non-cash income tax expense 596   (574 ) (23,602 )
Non-GAAP Income tax expense $ 2,496 $ 2,936 $ 1,063
 
GAAP Net Loss $ (19,711 ) $ (45,454 ) $ (53,347 )
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-cash income tax expense (596 ) 574   23,602  
Non-GAAP Net (loss) income $ (982 ) $ (5,038 ) $ 3,879
 

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