| Electro Scientific Industries, Inc. | ||||||||||||
| First Quarter Fiscal 2018 Results | ||||||||||||
| Reconciliation of GAAP to Non-GAAP Financial Measures: | ||||||||||||
| (Unaudited) | ||||||||||||
| Fiscal quarter ended | ||||||||||||
| (In thousands, except per share data) | Jul 1, 2017 | Apr 1, 2017 | Jul 2, 2016 | |||||||||
| Gross profit per GAAP | $ | 26,420 | $ | 18,230 | $ | 20,808 | ||||||
| Purchase accounting | 251 | 447 | 229 | |||||||||
| Equity compensation | 67 | 105 | 120 | |||||||||
| Charges for other asset and inventory impairment | 7,194 | 1,696 | 1,116 | |||||||||
| Charges for impairment of intangibles | — | 2,349 | — | |||||||||
| Non-GAAP gross profit | $ | 33,932 | $ | 22,827 | $ | 22,273 | ||||||
| Operating expenses per GAAP | $ | 22,953 | $ | 36,301 | $ | 20,501 | ||||||
| Purchase accounting | (219 | ) | (414 | ) | (250 | ) | ||||||
| Equity compensation | (1,211 | ) | (1,707 | ) | (1,170 | ) | ||||||
| Impairment of inventory | — | — | (100 | ) | ||||||||
| Restructuring costs | (1,211 | ) | (6,614 | ) | (37 | ) | ||||||
| Impairment of goodwill | — | (7,445 | ) | — | ||||||||
| Non-GAAP operating expenses | $ | 20,312 | $ | 20,121 | $ | 18,944 | ||||||
| Operating income (loss) per GAAP | $ | 3,467 | $ | (18,071 | ) | $ | 307 | |||||
| Non-GAAP adjustments to gross profit | 7,512 | 4,597 | 1,465 | |||||||||
| Non-GAAP adjustments to operating expenses | 2,641 | 16,180 | 1,557 | |||||||||
| Non-GAAP operating income | $ | 13,620 | $ | 2,706 | $ | 3,329 | ||||||
| Non-operating (expense) income, net per GAAP | $ | (184 | ) | $ | 103 | $ | (78 | ) | ||||
| Non-GAAP non-operating (expense) income | $ | (184 | ) | $ | 103 | $ | (78 | ) | ||||
| Non-GAAP income (loss) before income taxes | $ | 13,436 | $ | 2,809 | $ | 3,251 | ||||||
| Net income (loss) per GAAP | $ | 2,902 | $ | (17,923 | ) | $ | (118 | ) | ||||
| Non-GAAP adjustments to gross profit | 7,512 | 4,597 | 1,465 | |||||||||
| Non-GAAP adjustments to operating expenses | 2,641 | 16,180 | 1,557 | |||||||||
| Income tax effect of other non-GAAP adjustments | (24 | ) | 32 | 65 | ||||||||
| Non-GAAP net income | $ | 13,031 | $ | 2,886 | $ | 2,969 | ||||||
| Basic Non-GAAP net income per share | $ | 0.39 | $ | 0.09 | $ | 0.09 | ||||||
| Diluted Non-GAAP net income per share | $ | 0.38 | $ | 0.09 | $ | 0.09 | ||||||
ESI Announces First Quarter Fiscal 2018 Results
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