Sigma Designs, Inc. Reports Second Quarter Fiscal Year 2018 Financial Results

 

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    
               

« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise