|
CAVIUM, INC. | |||||||
|
Unaudited Reconciliation of Non-GAAP Adjustments | |||||||
|
(in thousands, except per share data and percentages) | |||||||
|
|
|
| |||||
|
|
Three Months Ended |
| |||||
|
|
December 31, 2016 |
|
|
September 30, 2016 |
| ||
|
Reconciliation of GAAP loss from operations to non-GAAP income from operations: |
|
|
|
|
|
|
|
|
GAAP loss from operations |
$ |
(29,146) |
|
|
$ |
(94,242) |
|
|
Stock-based compensation and related payroll taxes from awards granted by the Company |
|
19,273 |
|
|
|
17,472 |
|
|
Stock-based compensation expense related to employees with change in control provision |
|
- |
|
|
|
16,581 |
|
|
Stock-based compensation and related payroll taxes from awards assumed from the acquisition |
|
3,410 |
|
|
|
2,594 |
|
|
Purchase accounting effect on inventory |
|
21,015 |
|
|
|
9,888 |
|
|
Amortization of acquisition related assets |
|
30,105 |
|
|
|
16,047 |
|
|
Acquisition and integration related costs |
|
2,282 |
|
|
|
13,486 |
|
|
Manufacturing rights buy-out |
|
- |
|
|
|
37,059 |
|
|
Restructuring, severance and other employment charges |
|
- |
|
|
|
13,477 |
|
|
IPR&D written-off |
|
2,000 |
|
|
|
- |
|
|
Non-GAAP income from operations |
$ |
48,939 |
|
|
$ |
32,362 |
|
|
Non-GAAP income from operations as a percentage of revenue |
|
21.6 |
% |
|
|
19.2 |
% |
|
|
|
|
|
|
|
|
|
|
Reconciliation of GAAP net loss to non-GAAP net income: |
|
|
|
|
|
|
|
|
GAAP net loss |
$ |
(121,600) |
|
|
$ |
(14,366) |
|
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
Stock-based compensation and related payroll taxes from awards granted by the Company |
|
19,273 |
|
|
|
17,472 |
|
|
Stock-based compensation expense related to employees with change in control provision |
|
- |
|
|
|
16,581 |
|
|
Stock-based compensation and related payroll taxes from awards assumed from the acquisition |
|
3,410 |
|
|
|
2,594 |
|
|
Purchase accounting effect on inventory |
|
21,015 |
|
|
|
9,888 |
|
|
Amortization of acquisition related assets |
|
30,105 |
|
|
|
16,047 |
|
|
Acquisition and integration related costs |
|
2,282 |
|
|
|
13,486 |
|
|
Manufacturing rights buy-out |
|
- |
|
|
|
37,059 |
|
|
Restructuring, severance and other employment charges |
|
- |
|
|
|
13,477 |
|
|
IPR&D written-off |
|
2,000 |
|
|
|
- |
|
|
Interest expense and amortization of debt financing cost associated with interim term loan facility |
|
164 |
|
|
|
522 |
|
|
Acquisition related tax adjustments |
|
83,174 |
|
|
|
(84,792) |
|
|
Total of non-GAAP adjustments |
|
161,423 |
|
|
|
42,334 |
|
|
Non-GAAP net income |
$ |
39,823 |
|
|
$ |
27,968 |
|
|
|
|
|
|
|
|
|
|
|
GAAP net loss per share, diluted |
$ |
(1.82) |
|
|
$ |
(0.23) |
|
|
Non-GAAP adjustments detailed above |
|
2.38 |
|
|
|
0.66 |
|
|
Non-GAAP net income per share, diluted |
$ |
0.56 |
|
|
$ |
0.43 |
|
|
|
|
|
|
|
|
|
|
|
GAAP weighted average shares, diluted |
|
66,949 |
|
|
|
62,055 |
|
|
Non-GAAP share adjustment |
|
4,365 |
|
|
|
3,062 |
|
|
Non-GAAP weighted average shares, diluted |
|
71,314 |
|
|
|
65,117 |
|
