* Our non-GAAP gross profit, non-GAAP operating expenses, non-GAAP net
income (loss) and non-GAAP net income (loss) per share differs from GAAP
gross profit, GAAP operating expenses, GAAP net income (loss) and GAAP
net income (loss) per share due to the exclusion of stock-based
compensation expense and additional amortization of a non-cancelable
prepaid royalty. Pixelworks' management believes the presentation of
non-GAAP gross profit, non-GAAP operating expenses, non-GAAP net income
(loss) and non-GAAP net income (loss) per share provides useful
information to investors regarding Pixelworks' results of operations by
allowing investors to better evaluate underlying cash flow dynamics.
Pixelworks' management also uses each of these non-GAAP measures
internally to better evaluate underlying cash flow dynamics. Pixelworks,
however, cautions investors to consider these non-GAAP financial
measures in addition to, and not as a substitute for, our GAAP financial
measures.
|
|
|
|
|
PIXELWORKS, INC.
|
|
RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL INFORMATION *
|
|
(In thousands)
|
|
(Unaudited)
|
|
|
|
|
|
|
Three Months Ended
|
|
|
Year Ended
|
|
|
|
|
December 31,
|
|
|
September 30,
|
|
|
December 31,
|
|
|
December 31,
|
|
|
December 31,
|
|
|
|
|
2013
|
|
|
2013
|
|
|
2012
|
|
|
2013
|
|
|
2012
|
|
Reconciliation of GAAP net income (loss) and adjusted EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income (loss)
|
|
|
$
|
(50
|
)
|
|
|
$
|
1,509
|
|
|
$
|
(3,557
|
)
|
|
|
$
|
(8,870
|
)
|
|
|
$
|
(5,694
|
)
|
|
Stock-based compensation
|
|
|
|
1,185
|
|
|
|
|
539
|
|
|
|
634
|
|
|
|
|
3,008
|
|
|
|
|
2,164
|
|
|
Additional amortization of non-cancelable prepaid royalty
|
|
|
|
103
|
|
|
|
|
77
|
|
|
|
135
|
|
|
|
|
369
|
|
|
|
|
565
|
|
|
Tax effect of non-GAAP adjustments
|
|
|
|
17
|
|
|
|
|
8
|
|
|
|
(20
|
)
|
|
|
|
—
|
|
|
|
|
—
|
|
|
Non-GAAP net income (loss)
|
|
|
$
|
1,255
|
|
|
|
$
|
2,133
|
|
|
$
|
(2,808
|
)
|
|
|
$
|
(5,493
|
)
|
|
|
$
|
(2,965
|
)
|
|
EBITDA adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
$
|
1,167
|
|
|
|
$
|
1,103
|
|
|
$
|
1,194
|
|
|
|
$
|
4,409
|
|
|
|
$
|
4,735
|
|
|
Interest expense and other, net
|
|
|
|
109
|
|
|
|
|
101
|
|
|
|
108
|
|
|
|
|
405
|
|
|
|
|
412
|
|
|
Non-GAAP provision (benefit) for income taxes
|
|
|
|
162
|
|
|
|
|
174
|
|
|
|
238
|
|
|
|
|
328
|
|
|
|
|
(571
|
)
|
|
Adjusted EBITDA
|
|
|
$
|
2,693
|
|
|
|
$
|
3,511
|
|
|
$
|
(1,268
|
)
|
|
|
$
|
(351
|
)
|
|
|
$
|
1,611
|
|
