(In thousands, except per share data)
(Unaudited)
| Three Months Ended | |||||||||||
| October 3, 2020 | June 27, 2020 | September 28, 2019 | |||||||||
| GAAP operating income | $ | 221,644 | $ | 92,712 | $ | 112,767 | |||||
| Stock-based compensation expense | 30,048 | 21,859 | 20,876 | ||||||||
| Amortization of intangible assets | 72,147 | 71,944 | 56,288 | ||||||||
| Restructuring related charges | 609 | 938 | 3,863 | ||||||||
| Acquisition and integration related costs | 7,259 | 12,663 | 7,549 | ||||||||
| Asset impairment and accelerated depreciation | — | — | 6,635 | ||||||||
| (Gain) loss on assets, start-up costs and other non-cash expenses | (2,354 | ) | 3,622 | 422 | |||||||
| Non-GAAP operating income | $ | 329,353 | $ | 203,738 | $ | 208,400 | |||||
| GAAP net income | $ | 136,917 | $ | 96,922 | $ | 83,038 | |||||
| Stock-based compensation expense | 30,048 | 21,859 | 20,876 | ||||||||
| Amortization of intangible assets | 72,147 | 71,944 | 56,288 | ||||||||
| Restructuring related charges | 609 | 938 | 3,863 | ||||||||
| Acquisition and integration related costs | 7,259 | 12,663 | 7,549 | ||||||||
| Asset impairment and accelerated depreciation | — | — | 6,635 | ||||||||
| (Gain) loss on assets, start-up costs and other non-cash expenses | (2,354 | ) | 3,622 | 422 | |||||||
| Loss (gain) on investments | 450 | (14,617 | ) | (366 | ) | ||||||
| Other (income) expense | (2,051 | ) | (3,039 | ) | 15 | ||||||
| Adjustment of income taxes | 39,262 | (15,212 | ) | 2,856 | |||||||
| Non-GAAP net income | $ | 282,287 | $ | 175,080 | $ | 181,176 | |||||
| GAAP weighted average outstanding diluted shares | 116,177 | 116,751 | 119,429 | ||||||||
| Dilutive stock-based awards | — | — | — | ||||||||
| Non-GAAP weighted average outstanding diluted shares | 116,177 | 116,751 | 119,429 | ||||||||
| Non-GAAP net income per share, diluted | $ | 2.43 | $ | 1.50 | $ | 1.52 | |||||
QORVO, INC. AND SUBSIDIARIES
