| Silicon Motion Technology Corporation
Reconciliation of GAAP to Non-GAAP Operating Results (in thousands, except percentages and per ADS data, unaudited) | ||||||
| For the Three Months Ended | ||||||
|
Sep. 30, 2017
($) |
Jun. 30, 2018
($) |
Sep. 30, 2018
($) | ||||
| Gross profit (GAAP) | 58,470 | 65,581 | 70,574 | |||
| Gross margin (GAAP) | 46.0 | % | 47.5 | % | 50.9 | % |
| Stock-based compensation expense (A) | 58 | 5 | 80 | |||
| Gross profit (non-GAAP) | 58,528 | 65,586 | 70,654 | |||
| Gross margin (non-GAAP) | 46.0 | % | 47.5 | % | 51.0 | % |
| Operating expenses (GAAP) | 36,893 | 31,617 | 38,337 | |||
| Stock-based compensation expense (A) | (3,263 | ) | (712 | ) | (4,468 | ) |
| Amortization of intangible assets | (526 | ) | (741 | ) | (741 | ) |
| Litigation expense | - | (8 | ) | (8 | ) | |
| Operating expenses (non-GAAP) | 33,104 | 30,156 | 33,121 | |||
| Operating profit (GAAP) | 21,577 | 33,964 | 32,237 | |||
| Operating margin (GAAP) | 17.0 | % | 24.6 | % | 23.3 | % |
| Total adjustments to operating profit | 3,847 | 1,466 | 5,297 | |||
| Operating profit (non-GAAP) | 25,424 | 35,430 | 37,534 | |||
| Operating margin (non-GAAP) | 20.0 | % | 25.7 | % | 27.1 | % |
| Non-operating income (expense) (GAAP) | 1,726 | 298 | 805 | |||
| Foreign exchange loss (gain), net | (701 | ) | 933 | 749 | ||
| Loss (gain) on equity-method investment | - | 205 | 98 | |||
| Non-operating income (expense) (non-GAAP) | 1,025 | 1,436 | 1,652 | |||
| Net income (GAAP) | 17,594 | 30,728 | 29,184 | |||
| Total pre-tax impact of non-GAAP adjustments | 3,146 | 2,604 | 6,144 | |||
| Income tax impact of non-GAAP adjustments | (393 | ) | (138 | ) | (825 | ) |
| Net income (non-GAAP) | 20,347 | 33,194 | 34,503 | |||
| Earnings per diluted ADS (GAAP) | $0.49 | $0.85 | $0.81 | |||
| Earnings per diluted ADS (non-GAAP) | $0.57 | $0.92 | $0.95 | |||
| Shares used in computing earnings per diluted ADS (GAAP) | 35,828 | 36,151 | 36,171 | |||
| Non-GAAP Adjustments | 129 | 38 | 147 | |||
| Shares used in computing earnings per diluted ADS (non-GAAP) | 35,957 | 36,189 | 36,318 | |||
| (A) Excludes stock-based compensation as follows: | ||||||
| Cost of Sales | 58 | 5 | 80 | |||
| Research & development | 1,960 | 227 | 2,804 | |||
| Sales & marketing | 767 | 433 | 897 | |||
| General & administrative | 536 | 52 | 767 | |||
