| PDF SOLUTIONS, INC. | ||||||||||||||||||||||||||
| RECONCILIATION OF GAAP TO NON-GAAP NET INCOME (UNAUDITED) | ||||||||||||||||||||||||||
| (In thousands, except per share amounts) | ||||||||||||||||||||||||||
| Three months ended | Twelve months ended | |||||||||||||||||||||||||
| December 31, | September 30, | December 31, | December 31, | December 31, | ||||||||||||||||||||||
| 2017 | 2017 | 2016 (1) | 2017 | 2016 (1) | ||||||||||||||||||||||
| GAAP net income (loss) | $ | (2,634 | ) | $ | 590 | $ | 2,925 | $ | (1,337 | ) | $ | 9,103 | ||||||||||||||
| Adjustments to reconcile GAAP net income to non-GAAP net income: | ||||||||||||||||||||||||||
| Stock-based compensation expense | 3,073 | 2,949 | 3,067 | 11,810 | 11,002 | |||||||||||||||||||||
| Amortization of acquired technology | 144 | 136 | 96 | 471 | 374 | |||||||||||||||||||||
| Amortization of other acquired intangible assets | 107 | 107 | 92 | 398 | 432 | |||||||||||||||||||||
| Non-recurring severance payment (2) | 30 | 370 | - | 400 | - | |||||||||||||||||||||
| Adjustment for Non-Cash items in Income Tax Expense | 3,181 | 817 | 1,454 | 5,831 | 5,362 | |||||||||||||||||||||
| Tax Adjustment for Non-GAAP items | 263 | (1,407 | ) | (2,041 | ) | (4,600 | ) | (4,804 | ) | |||||||||||||||||
| Non-GAAP net income | $ | 4,164 | $ | 3,562 | $ | 5,593 | $ | 12,973 | $ | 21,469 | ||||||||||||||||
| GAAP net income (loss) per diluted share | $ | (0.08 | ) | $ | 0.02 | $ | 0.09 | $ | (0.04 | ) | $ | 0.28 | ||||||||||||||
| Non-GAAP net income per diluted share | $ | 0.13 | $ | 0.11 | $ | 0.17 | $ | 0.39 | $ | 0.66 | ||||||||||||||||
| Shares used in diluted shares calculation | 32,866 | 32,969 | 33,293 | 33,204 | 32,431 | |||||||||||||||||||||
| PDF SOLUTIONS, INC. | ||||||||||||||||||||||||||
| RECONCILIATION OF GAAP NET INCOME TO EBITDAR (UNAUDITED) | ||||||||||||||||||||||||||
| (In thousands, except per share amounts) | ||||||||||||||||||||||||||
| Three months ended | Twelve months ended | |||||||||||||||||||||||||
| December 31, | September 30, | December 31, | December 31, | December 31, | ||||||||||||||||||||||
| 2017 | 2017 | 2016 (1) | 2017 | 2016 (1) | ||||||||||||||||||||||
| GAAP net income (loss) | $ | (2,634 | ) | $ | 590 | $ | 2,925 | $ | (1,337 | ) | $ | 9,103 | ||||||||||||||
| Adjustments to reconcile GAAP net income to EBITDAR: | ||||||||||||||||||||||||||
| Stock-based compensation expense | 3,073 | 2,949 | 3,067 | 11,810 | 11,002 | |||||||||||||||||||||
| Amortization of acquired technology | 144 | 136 | 96 | 471 | 374 | |||||||||||||||||||||
| Amortization of other acquired intangible assets | 107 | 107 | 92 | 398 | 432 | |||||||||||||||||||||
| Non-recurring severance payment (2) | 30 | 370 | - | 400 | - | |||||||||||||||||||||
| Depreciation expense | 1,241 | 1,262 | 1000 | 4,789 | 3,584 | |||||||||||||||||||||
| Income tax provision (benefit) | 3,509 | (270 | ) | 197 | 1,263 | 3,853 | ||||||||||||||||||||
| EBITDAR | $ | 5,470 | $ | 5,144 | $ | 7,377 | $ | 17,794 | $ | 28,348 | ||||||||||||||||
| (1) The results for the period ended December 31, 2016 have been updated to exclude deferred revenue adjustments from Syntricity acquisition that were previously presented in the prior periods. As a result of this exclusion, non-GAAP net income per diluted share for the twelve months ended December 31, 2016 was changed from $0.67 per share to $0.66 per share. There was no change in the non-GAAP net income per diluted share for the three months ended December 31, 2016. | ||||||||||||||||||||||||||
| (2) These are non-recurring severance payments related to reduction in workforce. The Company is excluding these costs in order to provide better comparability between periods. | ||||||||||||||||||||||||||
PDF Solutions® Reports Fourth Fiscal Quarter and Fiscal Year 2017 Results
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