SIGMA DESIGNS, INC. | |||||||||||||||||||||
RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET (LOSS) INCOME | |||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||||||
Three months ended | Six months ended | ||||||||||||||||||||
July 29, | April 29, | July 30, | July 29, | July 30, | |||||||||||||||||
2017 | 2017 | 2016 | 2017 | 2016 | |||||||||||||||||
GAAP Net Revenue | $ | 39,508 | $ | 39,564 | $ | 61,316 | $ | 79,072 | $ | 115,091 | |||||||||||
Items reconciling GAAP Net Revenue to Non-GAAP: | |||||||||||||||||||||
Reversal of rebate | - | - | - | - | - | ||||||||||||||||
GAAP to Non-GAAP adjustments | - | - | - | - | - | ||||||||||||||||
Non-GAAP Net Revenue | $ | 39,508 | $ | 39,564 | $ | 61,316 | $ | 79,072 | $ | 115,091 | |||||||||||
GAAP Cost of Revenue | $ | 20,688 | $ | 20,940 | $ | 31,734 | $ | 41,628 | $ | 61,508 | |||||||||||
Items reconciling GAAP Cost of Revenue to Non-GAAP: | |||||||||||||||||||||
Stock based compensation expense | (54 | ) | (57 | ) | (74 | ) | (111 | ) | (178 | ) | |||||||||||
Amortization of acquired intangibles | (145 | ) | (145 | ) | (940 | ) | (290 | ) | (1,889 | ) | |||||||||||
GAAP to Non-GAAP adjustments | (199 | ) | (202 | ) | (1,014 | ) | (401 | ) | (2,067 | ) | |||||||||||
Non-GAAP Cost of Revenue | $ | 20,489 | $ | 20,738 | $ | 30,720 | $ | 41,227 | $ | 59,441 | |||||||||||
GAAP Gross Profit | $ | 18,820 | $ | 18,624 | $ | 29,582 | $ | 37,444 | $ | 53,583 | |||||||||||
GAAP Gross Margin % | 47.6 | % | 47.1 | % | 48.2 | % | 47.4 | % | 46.6 | % | |||||||||||
Non-GAAP Gross Profit | $ | 19,019 | $ | 18,826 | $ | 30,596 | $ | 37,845 | $ | 55,650 | |||||||||||
Non-GAAP Gross Margin % | 48.1 | % | 47.6 | % | 49.9 | % | 47.9 | % | 48.4 | % | |||||||||||
GAAP Operating Expenses | $ | 29,774 | $ | 32,001 | $ | 29,895 | $ | 61,775 | $ | 59,911 | |||||||||||
Items reconciling GAAP Operating Expenses to Non-GAAP: | |||||||||||||||||||||
Stock based compensation expense | (1,180 | ) | (1,472 | ) | (1,677 | ) | (2,652 | ) | (3,465 | ) | |||||||||||
Amortization of acquired intangibles | (431 | ) | (431 | ) | (696 | ) | (862 | ) | (1,395 | ) | |||||||||||
Impairment of IP, mask sets and design tools | - | (3,006 | ) | (300 | ) | (3,006 | ) | (300 | ) | ||||||||||||
Legal and other professional expenses | (305 | ) | (139 | ) | - | (444 | ) | (11 | ) | ||||||||||||
Restructuring charges | (1,723 | ) | (243 | ) | - | (1,966 | ) | - | |||||||||||||
GAAP to Non-GAAP adjustments | (3,639 | ) | (5,291 | ) | (2,673 | ) | (8,930 | ) | (5,171 | ) | |||||||||||
Non-GAAP Operating Expenses | $ | 26,135 | $ | 26,710 | $ | 27,222 | $ | 52,845 | $ | 54,740 | |||||||||||
GAAP Other Income (Expense) and Tax | $ | (1,723 | ) | $ | (1,482 | ) | $ | (1,409 | ) | $ | (3,205 | ) | $ | (3,492 | ) | ||||||
Items reconciling GAAP Other Income (Expense) and Tax to Non-GAAP: | |||||||||||||||||||||
Impairment (gain on sale) of privately held instruments, net | - | - | 584 | - | 884 | ||||||||||||||||
GAAP to Non-GAAP adjustments | - | - | 584 | - | 884 | ||||||||||||||||
Non-GAAP Other Income (Expense) and Tax | $ | (1,723 | ) | $ | (1,482 | ) | $ | (825 | ) | $ | (3,205 | ) | $ | (2,608 | ) | ||||||
Non-GAAP Net (loss) income | $ | (8,839 | ) | $ | (9,366 | ) | $ | 2,549 | $ | (18,205 | ) | $ | (1,698 | ) | |||||||
Non-GAAP Net (loss) income per share: | |||||||||||||||||||||
Basic | $ | (0.23 | ) | $ | (0.25 | ) | $ | 0.07 | $ | (0.48 | ) | $ | (0.05 | ) | |||||||
Diluted | $ | (0.23 | ) | $ | (0.25 | ) | $ | 0.07 | $ | (0.48 | ) | $ | (0.05 | ) | |||||||
Shares used in computing Non-GAAP net (loss) income per share: | |||||||||||||||||||||
Basic | 38,289 | 38,156 | 37,182 | 38,222 | 37,028 | ||||||||||||||||
Diluted | 38,289 | 38,156 | 37,527 | 38,222 | 37,028 | ||||||||||||||||
Sigma Designs, Inc. Reports Second Quarter Fiscal Year 2018 Financial Results
| | More IC News |
|
RELATED NEWS
Latest Blog Posts
Team ShareCG
by Team ShareCG
Change in payment schedule for Vendors !!!