| CABOT MICROELECTRONICS CORPORATION | ||||||||||||||||||||||
| U.S. GAAP to Non-GAAP Reconciliation | ||||||||||||||||||||||
| Gross Profit as a Percentage of Revenue, Net Income and Diluted Earnings Per Share | ||||||||||||||||||||||
| (Unaudited and amounts in thousands, except per share and percentage amounts) | ||||||||||||||||||||||
| The following presents reconciliation of the Non-GAAP financial measures included in the Cabot | ||||||||||||||||||||||
| Microelectronics Corporation press release dated April 27, 2017. | ||||||||||||||||||||||
| Three Months Ended March 31, 2017 | Six Months Ended March 31, 2017 | |||||||||||||||||||||
| U.S. GAAP | Adjustments | Non-GAAP | U.S. GAAP | Adjustments | Non-GAAP | |||||||||||||||||
| Gross profit | $ | 60,031 | $ | 1,198 | $ | 61,229 | $ | 121,536 | $ | 2,396 | $ | 123,932 | ||||||||||
| Gross profit as a percentage of revenue (1) | 50.4 | % | 51.4 | % | 50.1 | % | 51.1 | % | ||||||||||||||
| Net income (2) | $ | 18,280 | $ | 1,068 | $ | 19,348 | $ | 40,511 | $ | 2,135 | $ | 42,646 | ||||||||||
| Diluted earnings per share (3) | $ | 0.71 | $ | 0.05 | $ | 0.76 | $ | 1.60 | $ | 0.08 | $ | 1.68 | ||||||||||
| (1) Non-GAAP gross profit as a percentage of revenue for the three months ended March 31, 2017 excludes $1,198 of NexPlanar amortization expense. | ||||||||||||||||||||||
| Non-GAAP gross profit as a percentage of revenue for the six months ended March 31, 2017 excludes $2,396 of NexPlanar amortization expense. | ||||||||||||||||||||||
| (2) Non-GAAP net income for the three months ended March 31, 2017 excludes the item mentioned above in (1) plus $468 of NexPlanar amortization | ||||||||||||||||||||||
| expense recorded in operating expenses. These adjustments are partially offset by a $598 related increase in the provision for income taxes. | ||||||||||||||||||||||
| Non-GAAP net income for the six months ended March 31, 2017 excludes the item mentioned above in (1) plus $936 of NexPlanar amortization | ||||||||||||||||||||||
| expense recorded in operating expenses. These adjustments are partially offset by a $1,197 related increase in the provision for income taxes. | ||||||||||||||||||||||
| (3) Non-GAAP diluted earnings per share is calculated based upon Non-GAAP net income. | ||||||||||||||||||||||
Cabot Microelectronics Corporation Reports Strong Results for Second Quarter of Fiscal 2017
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