IKANOS COMMUNICATIONS, INC.
Unaudited Condensed Consolidated Statements of Operations
(In thousands, except per share data)
Three Months Ended Nine Months Ended
---------------------- ----------------------
September September September September
28, 2014 29, 2013 28, 2014 29, 2013
---------- ---------- ---------- ----------
Revenue $ 11,079 $ 16,900 $ 36,847 $ 62,167
Cost of revenue 6,227 8,263 19,438 30,272
---------- ---------- ---------- ----------
Gross profit 4,852 8,637 17,409 31,895
---------- ---------- ---------- ----------
Operating expenses:
Research and development 10,822 12,455 36,906 38,572
Selling, general and
administrative 4,000 4,589 12,926 14,227
---------- ---------- ---------- ----------
Total operating expenses 14,822 17,044 49,832 52,799
---------- ---------- ---------- ----------
Loss from operations (9,970) (8,407) (32,423) (20,904)
Interest and other income
(expense), net (120) (147) (7) (507)
---------- ---------- ---------- ----------
Loss before income taxes (10,090) (8,554) (32,430) (21,411)
Provision for income taxes 190 111 485 343
---------- ---------- ---------- ----------
Net loss $ (10,280) $ (8,665) $ (32,915) $ (21,754)
========== ========== ========== ==========
Net loss per share
Basic and diluted $ (0.10) $ (0.12) $ (0.33) $ (0.31)
========== ========== ========== ==========
Weighted average number of
shares
Basic and diluted 99,284 71,662 99,045 71,086
========== ========== ========== ==========
IKANOS COMMUNICATIONS, INC.
Unaudited Condensed Consolidated Statements of Operations
(In thousands, except per share data)
Three Months Ended
----------------------------------
September June 29, September
28, 2014 2014 29, 2013
---------- ---------- ----------
Revenue $ 11,079 $ 11,255 $ 16,900
Cost of revenue 6,227 5,775 8,263
---------- ---------- ----------
Gross profit 4,852 5,480 8,637
---------- ---------- ----------
Operating expenses:
Research and development 10,822 13,408 12,455
Selling, general and administrative 4,000 4,105 4,589
---------- ---------- ----------
Total operating expenses 14,822 17,513 17,044
---------- ---------- ----------
Loss from operations (9,970) (12,033) (8,407)
Interest and other income (expense),
net (120) (129) (147)
---------- ---------- ----------
Loss before income taxes (10,090) (12,162) (8,554)
Provision for income taxes 190 168 111
---------- ---------- ----------
Net loss $ (10,280) $ (12,330) $ (8,665)
========== ========== ==========
Basic and diluted net loss per share $ (0.10) $ (0.12) $ (0.12)
========== ========== ==========
Weighted average outstanding shares:
Basic and diluted 99,284 99,102 71,662
========== ========== ==========
IKANOS COMMUNICATIONS, INC.
Unaudited Reconciliation of GAAP to Non-GAAP Condensed Consolidated Statements of Operations
(In thousands, except per share data)
Three Months Ended September 28,
2014
------------------------------------
As Non-GAAP
Reported Adjustments Non-GAAP
--------- ----------- ---------
Revenue $ 11,079 $ - $ 11,079
Cost of revenue 6,227 (4) (a) 6,104
(119) (b)
--------- ----------- ---------
Gross profit 4,852 (123) 4,975
--------- ----------- ---------
Operating expenses:
Research and development 10,822 (531) (a) 10,291
Selling, general and
administrative 4,000 (343) (a) 3,657
--------- ----------- ---------
Total operating expenses 14,822 (874) 13,948
--------- ----------- ---------
Loss from operations (9,970) 997 (8,973)
Interest and other income
(expense), net (120) - (120)
--------- ----------- ---------
Loss before income taxes (10,090) 997 (9,093)
Provision for income taxes 190 - 190
--------- ----------- ---------
Net loss $ (10,280) $ 997 $ (9,283)
========= =========== =========
Net loss per share:
Basic and diluted $ (0.10) $ (0.09)
========= =========
Weighted average outstanding shares:
Basic and diluted 99,284 99,284
========= =========
Three Months Ended September 29, 2013
--------------------------------------
As Non-GAAP
Reported Adjustments Non-GAAP
--------- ----------- ----------
Revenue $ 16,900 $ - $ 16,900
Cost of revenue 8,263 (2) (a) 8,141
(120) (b)
--------- ----------- ----------
Gross profit 8,637 (122) 8,759
--------- ----------- ----------
Operating expenses:
Research and development 12,455 (673) (a) 11,782
Selling, general and
administrative 4,589 (250) (a) 4,255
(84) (b)
--------- ----------- ----------
Total operating expenses 17,044 (1,007) 16,037
--------- ----------- ----------
Loss from operations (8,407) 1,129 (7,278)
Interest and other income
(expense), net (147) - (147)
--------- ----------- ----------
Loss before income taxes (8,554) 1,129 (7,425)
Provision for income taxes 111 - 111
--------- ----------- ----------
Net loss $ (8,665) $ 1,129 $ (7,536)
========= =========== ==========
Net loss per share:
Basic and diluted $ (0.12) $ (0.11)
========= ==========
Weighted average outstanding shares:
Basic and diluted 71,662 71,662
========= ==========
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Ikanos Communications Announces Results for the Third Quarter 2014
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