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CAVIUM, INC. |
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Unaudited Reconciliation of Non-GAAP Adjustments |
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(in thousands, except per share data and percentages) |
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Three Months Ended |
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December 31, 2014 |
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September 30, 2014 |
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Reconciliation of GAAP gross profit & margin to non-GAAP: |
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Net revenue |
$ |
101,223 |
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$ |
97,833 |
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GAAP gross profit |
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62,821 |
|
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62,123 |
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GAAP gross margin |
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62.1 |
% |
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63.5 |
% |
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|
|
|
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Stock-based compensation and related payroll taxes |
|
237 |
|
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|
254 |
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Amortization of acquired intangible assets |
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1,252 |
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1,267 |
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Net restructuring related expenses |
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2,002 |
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|
158 |
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Non-GAAP gross profit |
$ |
66,312 |
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$ |
63,802 |
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Non-GAAP gross margin |
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65.5 |
% |
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65.2 |
% |
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Reconciliation of GAAP income (loss) from operations to non-GAAP income from operations: |
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GAAP income (loss) from operations |
$ |
(11,601) |
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$ |
3,523 |
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Stock-based compensation and related payroll taxes |
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22,334 |
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|
11,257 |
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Amortization of acquired intangible assets |
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1,285 |
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1,302 |
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Net restructuring related expenses |
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2,646 |
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|
653 |
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Loss from operations of a variable interest entity |
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9,786 |
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|
7,039 |
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Non-GAAP income from operations |
$ |
24,450 |
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$ |
23,774 |
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Non-GAAP income from operations as a percentage of revenue |
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24.2 |
% |
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24.3 |
% |
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Reconciliation of GAAP net income (loss) to non-GAAP net income: |
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GAAP net income (loss) attributable to the Company |
$ |
(12,031) |
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$ |
5,433 |
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Non-GAAP adjustments: |
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Stock-based compensation and related payroll taxes |
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22,334 |
|
|
|
11,257 |
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Amortization of acquired intangible assets |
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1,285 |
|
|
|
1,302 |
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Net restructuring related expenses |
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2,646 |
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|
653 |
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Net loss of a variable interest entity (excluding stock based compensation and related taxes) attributable to the Company |
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10,247 |
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|
4,324 |
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Total of non-GAAP adjustments |
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36,512 |
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|
|
17,536 |
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Non-GAAP net income |
$ |
24,481 |
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|
$ |
22,969 |
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GAAP net income (loss) attributable to the Company per share, diluted |
$ |
(0.22) |
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$ |
0.10 |
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Non-GAAP adjustments detailed above |
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0.64 |
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|
0.30 |
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Non-GAAP net income attributable to the Company per share, diluted |
$ |
0.42 |
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$ |
0.40 |
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GAAP weighted average shares, diluted |
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54,249 |
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|
55,540 |
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Non-GAAP share adjustment |
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4,089 |
|
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|
2,236 |
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Non-GAAP weighted average shares, diluted |
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58,338 |
|
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|
57,776 |
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