| Silicon Motion Technology Corporation
Reconciliation of GAAP to Non-GAAP Operating Results (in thousands, except percentages and per ADS data, unaudited) | ||||||||||
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For the Three Months Ended
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Sep. 30,
2015 ($) |
Jun. 30,
2016 ($) |
Sep. 30,
2016 ($) | ||||||||
| Gross profit (GAAP) | 49,112 | 68,121 | 77,405 | |||||||
| Gross margin (GAAP) | 51.5 | % | 48.4 | % | 48.8 | % | ||||
| Stock-based compensation expense(A) | 88 | 2 | 156 | |||||||
| Gross profit (non-GAAP) | 49,200 | 68,123 | 77,561 | |||||||
| Gross margin (non-GAAP) | 51.6 | % | 48.4 | % | 48.9 | % | ||||
| Operating expenses (GAAP) | 29,693 | 31,908 | 38,886 | |||||||
| Stock-based compensation expense (A) | (3,347 | ) | (470 | ) | (6,320 | ) | ||||
| Amortization of intangible assets | (526 | ) | (526 | ) | (526 | ) | ||||
| Litigation expense | (28 | ) | (9 | ) | (1 | ) | ||||
| Acquisition-related expense | 6 | - | - | |||||||
| Operating expenses (non-GAAP) | 25,798 | 30,903 | 32,039 | |||||||
| Operating profit (GAAP) | 19,419 | 36,213 | 38,519 | |||||||
| Operating margin (GAAP) | 20.4 | % | 25.7 | % | 24.3 | % | ||||
| Total adjustments to operating profit | 3,983 | 1,007 | 7,003 | |||||||
| Operating profit (non-GAAP) | 23,402 | 37,220 | 45,522 | |||||||
| Operating margin (non-GAAP) | 24.5 | % | 26.5 | % | 28.7 | % | ||||
| Non-operating income (expense) (GAAP) | 730 | (27 | ) | 194 | ||||||
| Foreign exchange loss (gain), net | (220 | ) | 488 | 375 | ||||||
| Non-operating income (expense) (non-GAAP) | 510 | 461 | 569 | |||||||
| Net income (GAAP) | 13,180 | 29,047 | 32,722 | |||||||
| Total pre-tax impact of non-GAAP adjustments | 3,763 | 1,495 | 7,378 | |||||||
| Income tax impact of non-GAAP adjustments | 3,105 | 162 | (1,768 | ) | ||||||
| Net income (non-GAAP) | 20,048 | 30,704 | 38,332 | |||||||
| Earnings per diluted ADS (GAAP) | $ | 0.38 | $ | 0.82 | $ | 0.92 | ||||
| Earnings per diluted ADS (non-GAAP) | $ | 0.57 | $ | 0.86 | $ | 1.07 | ||||
| Shares used in computing earnings per diluted ADS (GAAP) | 34,941 | 35,476 | 35,539 | |||||||
| Non-GAAP Adjustments | 332 | 63 | 244 | |||||||
| Shares used in computing earnings per diluted ADS (non-GAAP) | 35,273 | 35,539 | 35,783 | |||||||
| (A) Excludes stock-based compensation as follows: | ||||||||||
| Cost of Sales | 88 | 2 | 156 | |||||||
| Research & development | 2,125 | 278 | 4,009 | |||||||
| Sales & marketing | 604 | 159 | 1,038 | |||||||
| General & administrative | 618 | 33 | 1,273 | |||||||
