PDF Solutions® Reports Third Fiscal Quarter Results
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PDF SOLUTIONS, INC. | | | | | | | | | | | | | | | | | | |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | | | | | | | | | | | |
(In thousands, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Three months ended | | |
Nine months ended | | | | | |
September 30, | |
June 30, | |
September 30, | |
September 30, |
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September 30, | | |
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2015 | |
2015 | |
2014 | |
2015 | |
2014 | | | | | | | | | | | | | | | | | | | | | | Revenues: | | | | | | | | | | | | | | | | | | | Design-to-silicon-yield solutions | | | $ | 17,246 | | $ | 14,159 | | $ | 10,860 | | $ | 49,557 | | $ | | 38,871 | | | | Gainshare performance incentives | | | | 6,632 | | | 9,051 | | | 11,546 | | | 24,348 | | | | 35,231 | | | | Total revenues | | | | 23,878 | | | 23,210 | | | 22,406 | | | 73,905 | | | | 74,102 | | | | | | | | | | | | | | | | | | | | | | | Costs of Design-to-silicon-yield solutions: | | | | | | | | | | | | | | | | | | | Direct costs of Design-to-silicon-yield solutions | | | | 10,172 | | | 9,888 | | | 9,722 | | | 28,863 | | | | 28,273 | | | | Impairment of deferred costs | | | | - | | | - | | | 1,892 | | | - | | | | 1,892 | | | | Amortization of acquired technology | | | | 80 | | | - | | | - | | | 80 | | | | - | | | | Total costs of Design-to-silicon-yield solutions | | | | 10,252 | | | 9,888 | | | 11,614 | | | 28,943 | | | | 30,165 | | | | Gross profit | | | | 13,626 | | | 13,322 | | | 10,792 | | | 44,962 | | | | 43,937 | | | | | | | | | | | | | | | | | | | | | | | Operating expenses: | | | | | | | | | | | | | | | | | | | Research and development | | | | 5,173 | | | 4,437 | | | 3,349 | | | 13,698 | | | | 10,282 | | | | Selling, general and administrative | | | | 5,665 | | | 5,216 | | | 4,498 | | | 15,336 | | | | 13,487 | | | | Amortization of other acquired intangible assets | | | | 89 | | | - | | | - | | | 89 | | | | 31 | | | | Restructuring charges | | | | - | | | - | | | - | | | - | | | | 57 | | | | Total operating expenses | | | | 10,927 | | | 9,653 | | | 7,847 | | | 29,123 | | | | 23,857 | | | | | | | | | | | | | | | | | | | | | | | Income from operations | | | | 2,699 | | | 3,669 | | | 2,945 | | | 15,839 | | | | 20,080 | | | | Interest and other income (expense), net | | | | 64 | | | 52 | | | 33 | | | 166 | | | | (82 | ) | | | Income before income taxes | | | | 2,763 | | | 3,721 | | | 2,978 | | | 16,005 | | | | 19,998 | | | | Income tax provision | | | | 1,269 | | | 1,572 | | | 1,217 | | | 6,395 | | | | 7,287 | | | | Net income | | | $ | 1,494 | | $ | 2,149 | | $ | 1,761 | | $ | 9,610 | | $ | | 12,711 | | | | | | | | | | | | | | | | | | | | | | | Net income per share: | | | | | | | | | | | | | | | | | | | Basic | | | $ | 0.05 | | $ | 0.07 | | $ | 0.06 | | $ | 0.31 | | $ | | 0.41 | | | | Diluted | | | $ | 0.05 | | $ | 0.07 | | $ | 0.05 | | $ | 0.30 | | $ | | 0.40 | | | | | | | | | | | | | | | | | | | | | | | Weighted average common shares: | | | | | | | | | | | | | | | | | | | Basic | | | | 31,516 | | | 31,522 | | | 30,876 | | | 31,458 | | | | 30,648 | | | | Diluted | | | | 32,106 | | | 32,400 | | | 32,079 | | | 32,266 | | | | 31,975 | | | | | | | | | | | | | | | | | | | | | |
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