| Silicon Motion Technology Corporation | |||||||
| Reconciliation of GAAP to Non-GAAP Operating Results | |||||||
| (in thousands, except percentages and per ADS data, unaudited) | |||||||
| For the Six Months Ended | |||||||
|
Jun. 30, 2016
($) |
Jun. 30, 2017
( $) | ||||||
| Gross profit (GAAP) | 125,082 | 129,437 | |||||
| Gross margin (GAAP) | 49.4 | % | 49.8 | % | |||
| Stock-based compensation expense(A) | 45 | 69 | |||||
| Gross profit (non-GAAP) | 125,127 | 129,506 | |||||
| Gross margin (non-GAAP) | 49.4 | % | 49.8 | % | |||
| Operating expenses (GAAP) | 61,196 | 69,182 | |||||
| Stock-based compensation expense (A) | (2,416 | ) | (4,050 | ) | |||
| Amortization of intangible assets | (1,052 | ) | (1,052 | ) | |||
| Litigation expense | (49 | ) | - | ||||
| Operating expenses (non-GAAP) | 57,679 | 64,080 | |||||
| Operating profit (GAAP) | 63,886 | 60,255 | |||||
| Operating margin (GAAP) | 25.2 | % | 23.2 | % | |||
| Total adjustments to operating profit | 3,562 | 5,171 | |||||
| Operating profit (non-GAAP) | 67,448 | 65,426 | |||||
| Operating margin (non-GAAP) | 26.6 | % | 25.2 | % | |||
| Non-operating income (expense) (GAAP) | 458 | 1,287 | |||||
| Foreign exchange loss (gain), net | 428 | 420 | |||||
| Non-operating income (expense) (non-GAAP) | 886 | 1,707 | |||||
| Net income (GAAP) | 52,061 | 47,544 | |||||
| Total pre-tax impact of non-GAAP
adjustments | 3,990 | 5,591 | |||||
| Income tax impact of non-GAAP
adjustments | (1,042 | ) | (2,419 | ) | |||
| Net income (non-GAAP) | 55,009 | 50,716 | |||||
| Earnings per diluted ADS (GAAP) | $ | 1.47 | $ | 1.32 | |||
| Earnings per diluted ADS (non-GAAP) | $ | 1.55 | $ | 1.41 | |||
| Shares used in computing earnings per diluted ADS (GAAP) | 35,444 | 35,887 | |||||
| Non-GAAP Adjustments | 89 | 65 | |||||
| Shares used in computing earnings per diluted ADS (non-GAAP) | 35,533 | 35,952 | |||||
| (A) Excludes stock-based compensation as follows: | |||||||
| Cost of Sales | 45 | 69 | |||||
| Research & development | 1,443 | 2,165 | |||||
| Sales & marketing | 609 | 1,205 | |||||
| General & administrative | 364 | 680 | |||||
