| APPLIED MICRO CIRCUITS CORPORATION | ||||||||||||||||||||
| RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET INCOME (LOSS) | ||||||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||
|
September 30,
2016 |
June 30,
2016 |
September 30,
2015 |
September 30,
2016 |
September 30,
2015 | ||||||||||||||||
| GAAP net loss | $ | (4,640 | ) | $ | (10,539 | ) | $ | (8,061 | ) | $ | (15,179 | ) | $ | (15,465 | ) | |||||
| Adjustments: | ||||||||||||||||||||
| Stock-based compensation expense and other | 6,790 | 8,165 | 5,934 | 14,955 | 12,026 | |||||||||||||||
| Restructuring | - | - | 15 | - | 111 | |||||||||||||||
| Reversals of impairment charges upon sales of marketable securities | - | - | (267 | ) | - | (1,694 | ) | |||||||||||||
| Income tax effect on non-GAAP adjustments | (22 | ) | (129 | ) | (25 | ) | (151 | ) | (647 | ) | ||||||||||
| Total GAAP to Non-GAAP adjustments | 6,768 | 8,036 | 5,657 | 14,804 | 9,796 | |||||||||||||||
| Non-GAAP net income (loss) | $ | 2,128 | $ | (2,503 | ) | $ | (2,404 | ) | $ | (375 | ) | $ | (5,669 | ) | ||||||
| Diluted non-GAAP net income (loss) per share | $ | 0.02 | $ | (0.03 | ) | $ | (0.03 | ) | $ | (0.01 | ) | $ | (0.07 | ) | ||||||
| Shares used in calculating diluted non-GAAP net income (loss) per share (*) | 87,014 | 84,980 | 82,176 | 85,486 | 81,680 | |||||||||||||||
| Diluted net income (loss) per share: | ||||||||||||||||||||
| GAAP diluted net loss per share | $ | (0.05 | ) | $ | (0.12 | ) | $ | (0.10 | ) | $ | (0.18 | ) | $ | (0.19 | ) | |||||
| GAAP to non-GAAP adjustments | 0.07 | 0.09 | 0.07 | 0.17 | 0.12 | |||||||||||||||
| Non-GAAP diluted net income (loss) per share | $ | 0.02 | $ | (0.03 | ) | $ | (0.03 | ) | $ | (0.01 | ) | $ | (0.07 | ) | ||||||
| (*) For the three months ended September 30, 2016, non-GAAP adjustments convert GAAP net loss to non-GAAP net income; therefore, fully dilutive shares are used in the calculation of non-GAAP diluted net income per share. | ||||||||||||||||||||
Applied Micro Circuits Corporation Reports Second Quarter Fiscal 2017 Financial Results
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