2 See tables for reconciliations.
Other Relevant Metrics |
Q3 2019 |
Q3 2018 |
||||||
Operating Cash Flow |
$ |
35,321 |
$ |
29,398 |
||||
Cash, Cash Equivalents and S-T Investments |
$ |
122,468 |
$ |
105,435 |
||||
Dividends
On September 17, 2019, the Company paid $9.9 million to stockholders of record on August 27, 2019, for the quarterly cash dividend of $0.20 per share of common stock.
Additionally, on October 28, 2019, the Board of Directors approved the quarterly dividend of $0.20 per share of common stock, payable on December 18, 2019, to stockholders of record on November 27, 2019.
Financial Guidance
Consequent with the introduction of the revenue accounting standard, ASC 606, the Company announced it will use billings as a key measure of business progress. As a result, the Company’s outlook is now based on billings rather than GAAP revenue. For additional information regarding the Company’s approach to guidance, please review the “ASC 606 Business Metrics and Guidance Approach” presentation given by the Company on January 25, 2018, at https://investor.xperi.com.
Q4 2019 |
GAAP Outlook |
Non-GAAP Outlook |
||||
Billings 1 |
$111M to 115M |
$111M to 115M |
||||
Operating Expense 2 |
$88M to 91M |
$55M to 58M |
||||
Interest Expense 1 |
$5.1M |
$5.1M |
||||
Other Income 2 |
$2.0M |
$0.7M |
||||
Cash Tax (net of refunds) 1 |
$6.1M |
$6.1M |
||||
Diluted Shares Outstanding |
50.0M |
52.3M |
1 Measures are the same for both the GAAP and Non-GAAP presentation.
2 See tables for reconciliations.
The Company made the following changes to its full year outlook: narrowed the range for billings, lowered operating expenses, lowered interest expense, decreased other income, narrowed cash taxes, and increased the low end of operating cash flow.
FY 2019 |
GAAP Outlook |
Non-GAAP Outlook |
||||
Billings 1 |
$398M to 402M |
$398M to 402M |
||||
Operating Expense 2 |
$342M to 345M |
$210M to 213M |
||||
Interest Expense 1 |
$23.5M |
$23.5M |
||||
Other Income 2 |
$9.0M |
$3.0M |
||||
| Cash Tax (net of refunds) 1 |
$18.5M |
$18.5M |
||||
| Diluted Shares Outstanding |
50.0M |
52.0M |
||||
| Operating Cash Flow 1 |
$145M to 155M |
$145M to 155M |
