| Silicon Motion Technology Corporation
Reconciliation of GAAP to Non-GAAP Operating Results (in thousands, except percentages and per ADS data, unaudited) | ||||
| For the Nine Months Ended | ||||
|
Sep. 30, 2017
($) |
Sep. 30, 2018
( $) | |||
| Gross profit (GAAP) | 187,907 | 198,710 | ||
| Gross margin (GAAP) | 48.5 | % | 48.8 | % |
| Stock-based compensation expense(A) | 127 | 144 | ||
| Gross profit (non-GAAP) | 188,034 | 198,854 | ||
| Gross margin (non-GAAP) | 48.6 | % | 48.9 | % |
| Operating expenses (GAAP) | 106,075 | 107,657 | ||
| Stock-based compensation expense (A) | (7,313 | ) | (8,256 | ) |
| Amortization of intangible assets | (1,577 | ) | (2,223 | ) |
| Litigation expense | - | (29 | ) | |
| Operating expenses (non-GAAP) | 97,185 | 97,149 | ||
| Operating profit (GAAP) | 81,832 | 91,053 | ||
| Operating margin (GAAP) | 21.1 | % | 22.4 | % |
| Total adjustments to operating profit | 9,017 | 10,652 | ||
| Operating profit (non-GAAP) | 90,849 | 101,705 | ||
| Operating margin (non-GAAP) | 23.5 | % | 25.0 | % |
| Non-operating income (expense) (GAAP) | 3,013 | 3,450 | ||
| Foreign exchange loss (gain), net | (289 | ) | 606 | |
| Loss (gain) on equity-method investment | - | 303 | ||
| Non-operating income (expense) (non-GAAP) | 2,724 | 4,359 | ||
| Net income (GAAP) | 65,138 | 82,972 | ||
| Total pre-tax impact of non-GAAP adjustments | 8,728 | 11,561 | ||
| Income tax impact of non-GAAP adjustments | (986 | ) | (1,207 | ) |
| Net income (non-GAAP) | 72,880 | 93,326 | ||
| Earnings per diluted ADS (GAAP) | $1.82 | $2.30 | ||
| Earnings per diluted ADS (non-GAAP) | $2.03 | $2.58 | ||
| Shares used in computing earnings per diluted ADS (GAAP) | 35,867 | 36,147 | ||
| Non-GAAP Adjustments | 86 | 80 | ||
| Shares used in computing earnings per diluted ADS (non-GAAP) | 35,953 | 36,227 | ||
| (A) Excludes stock-based compensation as follows: | ||||
| Cost of Sales | 127 | 144 | ||
| Research & development | 4,125 | 4,898 | ||
| Sales & marketing | 1,972 | 1,988 | ||
| General & administrative | 1,216 | 1,370 | ||
Silicon Motion Announces Results for the Period Ended September 30, 2018
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