| Silicon Motion Technology Corporation | ||||||||
| Reconciliation of GAAP to Non-GAAP Operating Results | ||||||||
| (in thousands, except percentages and per ADS data, unaudited) | ||||||||
|
For the Year Ended
| ||||||||
|
Dec. 31, 2015
($) |
Dec. 31, 2016
( $) | |||||||
| Gross profit (GAAP) | 184,532 | 274,605 | ||||||
| Gross margin (GAAP) | 51.1 | % | 49.4 | % | ||||
| Stock-based compensation expense(A) | 262 | 400 | ||||||
| Gross profit (non-GAAP) | 184,794 | 275,005 | ||||||
| Gross margin (non-GAAP) | 51.2 | % | 49.4 | % | ||||
| Operating expenses (GAAP) | 108,099 | 137,345 | ||||||
| Stock-based compensation expense (A) | (10,157 | ) | (16,964 | ) | ||||
| Amortization of intangible assets | (1,051 | ) | (2,103 | ) | ||||
| Litigation expense | (128 | ) | (52 | ) | ||||
| Acquisition-related expense | (358 | ) | - | |||||
| Operating expenses (non-GAAP) | 96,405 | 118,226 | ||||||
| Operating profit (GAAP) | 76,433 | 137,260 | ||||||
| Operating margin (GAAP) | 21.2 | % | 24.7 | % | ||||
| Total adjustments to operating profit | 11,956 | 19,519 | ||||||
| Operating profit (non-GAAP) | 88,389 | 156,779 | ||||||
| Operating margin (non-GAAP) | 24.5 | % | 28.2 | % | ||||
| Non-operating income (expense) (GAAP) | 2,067 | 1,370 | ||||||
| Foreign exchange loss (gain), net | (76 | ) | 692 | |||||
| Impairment of long-term investments | - | 13 | ||||||
| Non-operating income (expense) (non-GAAP) | 1,991 | 2,075 | ||||||
| Net income (GAAP) | 60,251 | 110,940 | ||||||
| Total pre-tax impact of non-GAAP adjustments | 11,880 | 20,224 | ||||||
| Income tax impact of non-GAAP adjustments | 1,908 | (1,171 | ) | |||||
| Net income (non-GAAP) | 74,039 | 129,993 | ||||||
| Earnings per diluted ADS (GAAP) | $ | 1.73 | $ | 3.12 | ||||
| Earnings per diluted ADS (non-GAAP) | $ | 2.11 | $ | 3.64 | ||||
| Shares used in computing earnings per diluted ADS (GAAP) | 34,909 | 35,513 | ||||||
| Non-GAAP Adjustments | 158 | 155 | ||||||
| Shares used in computing earnings per diluted ADS (non-GAAP) | 35,067 | 35,668 | ||||||
| (A) Excludes stock-based compensation as follows: | ||||||||
| Cost of Sales | 262 | 400 | ||||||
| Research & development | 6,565 | 10,529 | ||||||
| Sales & marketing | 1,790 | 3,122 | ||||||
| General & administrative | 1,802 | 3,313 | ||||||
Silicon Motion Announces Results for the Period Ended December 31, 2016
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