Intersil Corporation | ||||||
Non-GAAP Results | ||||||
Unaudited | ||||||
(In thousands, except percentages) | ||||||
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Quarter Ended |
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Sep. 30 |
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Jul. 1 |
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Oct. 2 |
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2016 |
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2016 |
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2015 |
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Q3 2016 |
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Q2 2016 |
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Q3 2015 |
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Non-GAAP gross profit: |
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GAAP gross profit |
$ 84,220 |
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$ 79,588 |
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$ 76,058 |
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Equity-based compensation COS |
207 |
|
284 |
|
304 |
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Non-GAAP gross profit |
$ 84,427 |
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$ 79,872 |
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$ 76,362 |
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Non-GAAP gross margin: |
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GAAP gross margin |
60.6% |
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59.4% |
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59.2% |
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Excluded items as a percent of revenue |
0.1% |
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0.2% |
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0.3% |
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Non-GAAP gross margin |
60.7% |
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59.6% |
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59.5% |
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Non-GAAP R&D expenses: |
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GAAP R&D expenses |
$ 31,315 |
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$ 34,211 |
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$ 31,252 |
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Equity-based compensation |
(2,779) |
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(3,834) |
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(2,390) |
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Non-GAAP R&D expenses: |
$ 28,536 |
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$ 30,377 |
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$ 28,862 |
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Non-GAAP SG&A expenses: |
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GAAP SG&A expenses |
$ 22,782 |
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$ 25,248 |
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$ 23,532 |
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Equity-based compensation |
(2,577) |
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(4,004) |
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(2,871) |
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Non-GAAP SG&A expenses: |
$ 20,205 |
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$ 21,244 |
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$ 20,661 |
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Non-GAAP operating expenses: |
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GAAP operating expenses |
$ 61,419 |
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$ 77,089 |
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$ 58,561 |
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Restructuring and related costs |
(14) |
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(13,508) |
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- |
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Provision for the TAOS litigation |
- |
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(1,255) |
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- |
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Equity-based compensation (excl. COS) |
(5,356) |
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(7,838) |
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(5,261) |
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Amortization of purchased intangibles |
(2,669) |
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(2,867) |
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(3,777) |
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Merger related expenses |
(4,639) |
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- |
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- |
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Non-GAAP operating expenses |
$ 48,741 |
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$ 51,621 |
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$ 49,523 |
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Non-GAAP operating income: |
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GAAP operating income |
$ 22,801 |
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$ 2,499 |
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$ 17,497 |
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Restructuring and related costs |
14 |
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13,508 |
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- |
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Provision for the TAOS litigation |
- |
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1,255 |
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- |
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Equity-based compensation |
5,563 |
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8,122 |
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5,565 |
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Amortization of purchased intangibles |
2,669 |
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2,867 |
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3,777 |
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Merger related expenses |
4,639 |
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- |
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- |
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Non-GAAP operating income |
$ 35,686 |
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$ 28,251 |
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$ 26,839 |
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Non-GAAP operating margin: |
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GAAP operating margin |
16.4% |
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1.9% |
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13.6% |
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Excluded items as a percent of revenue |
9.3% |
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19.2% |
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7.3% |
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Non-GAAP operating margin |
25.7% |
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21.1% |
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20.9% |
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Intersil Corporation Reports Strong Quarterly Results
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