| Silicon Motion Technology Corporation
Reconciliation of GAAP to Non-GAAP Operating Results (in thousands, except percentages and per ADS data, unaudited) | |||||||
|
For the Nine Months Ended
| |||||||
|
Sep. 30, 2015
($) |
Sep. 30, 2016
( $) | ||||||
| Gross profit (GAAP) | 135,519 | 202,487 | |||||
| Gross margin (GAAP) | 51.5 | % | 49.2 | % | |||
| Stock-based compensation expense(A) | 129 | 201 | |||||
| Gross profit (non-GAAP) | 135,648 | 202,688 | |||||
| Gross margin (non-GAAP) | 51.5 | % | 49.2 | % | |||
| Operating expenses (GAAP) | 77,149 | 100,082 | |||||
| Stock-based compensation expense (A) | (5,066 | ) | (8,736 | ) | |||
| Amortization of intangible assets | (526 | ) | (1,577 | ) | |||
| Litigation expense | (93 | ) | (51 | ) | |||
| Acquisition-related expense | (320 | ) | - | ||||
| Operating expenses (non-GAAP) | 71,144 | 89,718 | |||||
| Operating profit (GAAP) | 58,370 | 102,405 | |||||
| Operating margin (GAAP) | 22.2 | % | 24.9 | % | |||
| Total adjustments to operating profit | 6,134 | 10,565 | |||||
| Operating profit (non-GAAP) | 64,504 | 112,970 | |||||
| Operating margin (non-GAAP) | 24.5 | % | 27.4 | % | |||
| Non-operating income (expense) (GAAP) | 2,132 | 652 | |||||
| Foreign exchange loss (gain), net | (599 | ) | 803 | ||||
| Non-operating income (expense) (non-GAAP) | 1,533 | 1,455 | |||||
| Net income (GAAP) | 46,867 | 84,783 | |||||
| Total pre-tax impact of non-GAAP adjustments | 5,535 | 11,368 | |||||
| Income tax impact of non-GAAP adjustments | 1,984 | (2,810 | ) | ||||
| Net income (non-GAAP) | 54,386 | 93,341 | |||||
| Earnings per diluted ADS (GAAP) | $ | 1.35 | $ | 2.39 | |||
| Earnings per diluted ADS (non-GAAP) | $ | 1.56 | $ | 2.62 | |||
| Shares used in computing earnings per diluted ADS (GAAP) | 34,782 | 35,476 | |||||
| Non-GAAP Adjustments | 144 | 140 | |||||
| Shares used in computing earnings per diluted ADS (non-GAAP) | 34,926 | 35,616 | |||||
| (A) Excludes stock-based compensation as follows: | |||||||
| Cost of Sales | 129 | 201 | |||||
| Research & development | 3,242 | 5,453 | |||||
| Sales & marketing | 931 | 1,646 | |||||
| General & administrative | 893 | 1,637 | |||||
