| FORMFACTOR, INC. | |||||||||||||||
| RECONCILIATION OF NON-GAAP NET INCOME | |||||||||||||||
| (In thousands, except per share amounts) | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| September 24, 2016 | September 26, 2015 | September 24, 2016 | September 26, 2015 | ||||||||||||
| GAAP net income (loss) | $ | (14,198 | ) | $ | (2,525 | ) | $ | 8,887 | $ | (904 | ) | ||||
| Adjustments to reconcile GAAP net income (loss) to Non-GAAP net income: | |||||||||||||||
| Deferred revenue | 263 | — | 263 | — | |||||||||||
| Stock-based compensation | 3,202 | 3,100 | 7,477 | 8,515 | |||||||||||
| Restructuring and impairment charges, net | 85 | 59 | 6,995 | 570 | |||||||||||
| Acquisition and integration related expenses | 964 | 285 | 6,760 | 196 | |||||||||||
| Amortization of intangibles, inventory and fixed assets fair value adjustment due to acquisition | 26,931 | 3,428 | 32,468 | 10,150 | |||||||||||
| Income tax valuation allowance release | 88 | — | (43,851 | ) | — | ||||||||||
| Gain on sale of intellectual property | — | (1,040 | ) | — | (1,040 | ) | |||||||||
| Proceeds from sale of intellectual property | (400 | ) | — | (400 | ) | — | |||||||||
| Business interruption insurance claim recovery | — | — | — | (1,521 | ) | ||||||||||
| Income tax effect of non-GAAP adjustments | (988 | ) | — | (988 | ) | — | |||||||||
| Non-GAAP net income | $ | 15,947 | $ | 3,307 | $ | 17,611 | $ | 15,966 | |||||||
| Non-GAAP net income per share: | |||||||||||||||
| Basic | $ | 0.23 | $ | 0.06 | $ | 0.28 | $ | 0.28 | |||||||
| Diluted | $ | 0.22 | $ | 0.06 | $ | 0.28 | $ | 0.27 | |||||||
| Weighted-average number of shares used in per share calculations: | |||||||||||||||
| Basic | 70,502 | 58,209 | 62,835 | 57,757 | |||||||||||
| Diluted | 71,336 | 58,784 | 63,662 | 58,922 | |||||||||||
FormFactor, Inc. Reports Third Quarter Results
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