Applied Micro Circuits Corporation Reports Third Quarter Fiscal 2016 Financial Results
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APPLIED MICRO CIRCUITS CORPORATION | |
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |
(in thousands, except per share data) | |
(unaudited) | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | December 31, | | September 30, | | December 31, | | December 31, | | December 31, | | | | 2015 | | | | 2015 | | | | 2014 | | | | 2015 | | | | 2014 | | | Net revenues | $ | 40,623 | | | $ | 39,743 | | | $ | 36,747 | | | $ | 118,179 | | | $ | 127,964 | | | Cost of revenues | | 18,241 | | | | 17,758 | | | | 14,842 | | | | 52,805 | | | | 52,815 | | | Gross profit | | 22,382 | | | | 21,985 | | | | 21,905 | | | | 65,374 | | | | 75,149 | | | Operating expenses: | | | | | | | | | | | Research and development | | 22,377 | | | | 22,411 | | | | 24,721 | | | | 66,405 | | | | 82,636 | | | Selling, general and administrative | | 8,232 | | | | 8,373 | | | | 8,707 | | | | 25,369 | | | | 25,684 | | | Amortization of purchased intangible assets | | - | | | | - | | | | - | | | | - | | | | 105 | | | Restructuring | | (29 | ) | | | 15 | | | | 221 | | | | 82 | | | | 1,322 | | | Total operating expenses | | 30,580 | | | | 30,799 | | | | 33,649 | | | | 91,856 | | | | 109,747 | | | Operating loss | | (8,198 | ) | | | (8,814 | ) | | | (11,744 | ) | | | (26,482 | ) | | | (34,598 | ) | | Interest and other income (expense), net | | 169 | | | | 265 | | | | 475 | | | | 2,078 | | | | (1,322 | ) | | Loss before income taxes | | (8,029 | ) | | | (8,549 | ) | | | (11,269 | ) | | | (24,404 | ) | | | (35,920 | ) | | Income tax provision (benefit) | | 170 | | | | (488 | ) | | | 862 | | | | (740 | ) | | | 993 | | | Net loss | $ | (8,199 | ) | | $ | (8,061 | ) | | $ | (12,131 | ) | | $ | (23,664 | ) | | $ | (36,913 | ) | | | | | | | | | | | | | Basic and diluted net loss per share: | $ | (0.10 | ) | | $ | (0.10 | ) | | $ | (0.15 | ) | | $ | (0.29 | ) | | $ | (0.47 | ) | | Shares used in calculating basic and diluted net loss per share | | 83,191 | | | | 82,176 | | | | 78,920 | | | | 82,186 | | | | 78,442 | | | | | | | | | | | | |
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