| Silicon Motion Technology Corporation | |||||||
| Reconciliation of GAAP to Non-GAAP Operating Results | |||||||
| (in thousands, except percentages and per ADS data, unaudited) | |||||||
|
For the Six Months Ended
| |||||||
|
Jun. 30,
2015 ( $) |
Jun. 30,
2016 ( $) | ||||||
| GAAP net income | 33,687 | 52,061 | |||||
| Stock-based compensation: | |||||||
| Cost of sales | 40 | 45 | |||||
| Research and development | 1,154 | 1,453 | |||||
| Sales and marketing | 341 | 613 | |||||
| General and administrative | 283 | 367 | |||||
| Total stock-based compensation | 1,818 | 2,478 | |||||
| Non-recurring items: | |||||||
| Litigation expenses | 52 | 38 | |||||
| Acquisition costs | 326 | - | |||||
| Amortization of intangibles assets | - | 1,052 | |||||
| Foreign exchange loss (gain), net | (1,545 | ) | (620 | ) | |||
| Non-GAAP net income | 34,338 | 55,009 | |||||
| Shares used in computing non-GAAP diluted earnings per ADS | 34,752 | 35,533 | |||||
| Non-GAAP diluted earnings per ADS | $ | 0.99 | $ | 1.55 | |||
| Non-GAAP gross margin | 51.5 | % | 49.4 | % | |||
| Non-GAAP operating margin | 24.5 | % | 26.6 | % | |||
| Silicon Motion Technology Corporation | |||||
| Consolidated Balance Sheet | |||||
| (In thousands, unaudited) | |||||
|
Jun. 30,
2015 ( $ ) |
Mar. 31,
2016 ( $ ) |
Jun. 30,
2016 ( $ ) | |||
| Cash and cash equivalents | 200,910 | 186,189 | 203,420 | ||
| Short-term investments | 723 | 4,818 | 15,691 | ||
| Accounts receivable (net) | 49,992 | 77,277 | 71,931 | ||
| Inventories | 50,299 | 72,774 | 81,542 | ||
| Refundable deposits - current | 19,275 | 19,302 | 19,149 | ||
| Prepaid expenses and other current assets | 10,784 | 4,587 | 5,417 | ||
| Total current assets | 331,983 | 364,947 | 397,150 | ||
| Long-term investments | 133 | 133 | 133 | ||
| Property and equipment (net) | 36,640 | 49,598 | 48,336 | ||
| Goodwill and intangible assets(net) | 35,463 | 75,469 | 74,942 | ||
| Other assets | 5,573 | 4,743 | 8,501 | ||
| Total assets | 409,792 | 494,890 | 529,062 | ||
| Accounts payable | 26,373 | 46,851 | 48,315 | ||
| Income tax payable | 17,215 | 16,728 | 16,362 | ||
| Accrued expenses and other current liabilities | 28,479 | 48,240 | 49,359 | ||
| Total current liabilities | 72,067 | 111,819 | 114,036 | ||
| Other liabilities | 8,581 | 13,314 | 16,264 | ||
| Total liabilities | 80,648 | 125,133 | 130,300 | ||
| Shareholders’ equity | 329,144 | 369,757 | 398,762 | ||
| Total liabilities & shareholders’ equity | 409,792 | 494,890 | 529,062 | ||
