| APPLIED MICRO CIRCUITS CORPORATION | |||||||||||||||
| SCHEDULE OF SELECTED GAAP TO NON-GAAP ADJUSTMENTS | |||||||||||||||
| (in thousands) | |||||||||||||||
| (unaudited) | |||||||||||||||
| Three Months Ended | |||||||||||||||
| June 30, | March 31, | June 30, | |||||||||||||
| 2016 | 2016 | 2015 | |||||||||||||
| GROSS PROFIT: | |||||||||||||||
| GAAP gross profit | $ | 25,469 | $ | 24,174 | 21,007 | ||||||||||
| Stock-based compensation expense | 158 | 172 | 93 | ||||||||||||
| Non-GAAP gross profit | $ | 25,627 | $ | 24,346 | $ | 21,100 | |||||||||
| OPERATING EXPENSES: | |||||||||||||||
| GAAP operating expenses | $ | 36,184 | $ | 33,194 | $ | 30,477 | |||||||||
| Stock-based compensation expense | (8,007 | ) | (7,465 | ) | (5,999 | ) | |||||||||
| Restructuring | - | 57 | (96 | ) | |||||||||||
| Non-GAAP operating expenses | $ | 28,177 | $ | 25,786 | $ | 24,382 | |||||||||
| INTEREST AND OTHER INCOME, NET | |||||||||||||||
| GAAP interest and other income, net | $ | 247 | $ | 229 | $ | 1,644 | |||||||||
| Reversals of impairment charges upon sales of marketable securities | - | - | (1,427 | ) | |||||||||||
| Non-GAAP interest and other income, net | $ | 247 | $ | 229 | $ | 217 | |||||||||
| INCOME TAX EXPENSE: | |||||||||||||||
| GAAP income tax expense | $ | 71 | $ | 116 | $ | (422 | ) | ||||||||
| Income tax adjustment | 129 | 84 | 622 | ||||||||||||
| Non-GAAP income tax expense | $ | 200 | $ | 200 | $ | 200 | |||||||||
| RESEARCH AND DEVELOPMENT: | |||||||||||||||
| GAAP research and development | $ | 27,485 | $ | 25,113 | $ | 21,617 | |||||||||
| Stock-based compensation expense | (5,993 | ) | (5,503 | ) | (4,060 | ) | |||||||||
| Non-GAAP research and development | $ | 21,492 | $ | 19,610 | $ | 17,557 | |||||||||
| SELLING, GENERAL AND ADMINISTRATIVE: | |||||||||||||||
| GAAP selling, general and administrative | $ | 8,699 | $ | 8,138 | $ | 8,764 | |||||||||
| Stock-based compensation expense | (2,014 | ) | (1,962 | ) | (1,939 | ) | |||||||||
| Non-GAAP selling, general and administrative | $ | 6,685 | $ | 6,176 | $ | 6,825 | |||||||||
Applied Micro Circuits Corporation Reports First Quarter Fiscal 2017 Financial Results
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