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PIXELWORKS, INC.
RECONCILIATION OF GAAP AND NON-GAAP GROSS PROFIT MARGIN * (Figures may not sum due to rounding) (Unaudited) | |||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||
| June 30, | March 31, | June 30, | June 30, | June 30, | |||||||||||
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2019
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2019
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2018
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2019
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2018
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| Reconciliation of GAAP and non-GAAP gross profit margin | |||||||||||||||
| GAAP gross profit margin | 52.0 | % | 50.9 | % | 49.5 | % | 51.5 | % | 50.2 | % | |||||
| Amortization of acquired intangible assets | 1.7 | % | 1.8 | % | 1.5 | % | 1.7 | % | 1.7 | % | |||||
| Stock-based compensation | 0.5 | % | 0.6 | % | 0.4 | % | 0.5 | % | 0.4 | % | |||||
| Inventory step-up and backlog amortization | — | % | 0.1 | % | 1.2 | % | 0.0 | % | 1.0 | % | |||||
| Total reconciling items included in gross profit | 2.1 | % | 2.4 | % | 3.2 | % | 2.3 | % | 3.2 | % | |||||
| Non-GAAP gross profit margin | 54.1 | % | 53.3 | % | 52.7 | % | 53.7 | % | 53.4 | % | |||||
| *Set forth above are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP financial measure disclosed by the company has limitations and should not be considered a substitute for, or superior to, the financial measure prepared in accordance with GAAP, and the reconciliations from GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to "Non-GAAP Financial Measures” in this document for an explanation of the adjustments made to the comparable GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.
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Pixelworks Reports Second Quarter 2019 Financial Results
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