| APPLIED MICRO CIRCUITS CORPORATION | |||||||||||||||||||||
| SCHEDULE OF SELECTED GAAP TO NON-GAAP ADJUSTMENTS | |||||||||||||||||||||
| (in thousands) | |||||||||||||||||||||
| (unaudited) | |||||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||
|
September 30,
2016 |
June 30,
2016 |
September 30,
2015 |
September 30,
2016 |
September 30,
2015 | |||||||||||||||||
| GROSS PROFIT: | |||||||||||||||||||||
| GAAP gross profit | $ | 27,660 | $ | 25,469 | $ | 21,985 | $ | 53,129 | $ | 42,992 | |||||||||||
| Stock-based compensation expense and other | 172 | 158 | 116 | 330 | 209 | ||||||||||||||||
| Non-GAAP gross profit | $ | 27,832 | $ | 25,627 | $ | 22,101 | $ | 53,459 | $ | 43,201 | |||||||||||
| OPERATING EXPENSES: | |||||||||||||||||||||
| GAAP operating expenses | $ | 32,379 | $ | 36,184 | $ | 30,799 | $ | 68,563 | $ | 61,276 | |||||||||||
| Stock-based compensation expense and other | (6,618 | ) | (8,007 | ) | (5,818 | ) | (14,625 | ) | (11,817 | ) | |||||||||||
| Restructuring | - | - | (15 | ) | - | (111 | ) | ||||||||||||||
| Non-GAAP operating expenses | $ | 25,761 | $ | 28,177 | $ | 24,966 | $ | 53,938 | $ | 49,348 | |||||||||||
| INTEREST AND OTHER INCOME, NET | |||||||||||||||||||||
| GAAP interest and other income, net | $ | 257 | $ | 247 | $ | 265 | $ | 504 | $ | 1,909 | |||||||||||
| Reversals of impairment charges upon sales of marketable securities | - | - | (267 | ) | - | (1,694 | ) | ||||||||||||||
| Non-GAAP interest and other income, net | $ | 257 | $ | 247 | $ | (2 | ) | $ | 504 | $ | 215 | ||||||||||
| INCOME TAX EXPENSE (BENEFIT): | |||||||||||||||||||||
| GAAP income tax expense (benefit) | $ | 178 | $ | 71 | $ | (488 | ) | $ | 249 | $ | (910 | ) | |||||||||
| Income tax adjustment | 22 | 129 | 25 | 151 | 647 | ||||||||||||||||
| Non-GAAP income tax expense | $ | 200 | $ | 200 | $ | (463 | ) | $ | 400 | $ | (263 | ) | |||||||||
| RESEARCH AND DEVELOPMENT : | |||||||||||||||||||||
| GAAP research and development | $ | 24,037 | $ | 27,485 | $ | 22,411 | $ | 51,522 | $ | 44,028 | |||||||||||
| Stock-based compensation expense and other | (4,624 | ) | (5,993 | ) | (3,955 | ) | (10,617 | ) | (8,015 | ) | |||||||||||
| Non-GAAP research and development | $ | 19,413 | $ | 21,492 | $ | 18,456 | $ | 40,905 | $ | 36,013 | |||||||||||
| SELLING, GENERAL AND ADMINISTRATIVE : | |||||||||||||||||||||
| GAAP selling, general and administrative | $ | 8,342 | $ | 8,699 | $ | 8,373 | $ | 17,041 | $ | 17,137 | |||||||||||
| Stock-based compensation expense and other | (1,994 | ) | (2,014 | ) | (1,863 | ) | (4,008 | ) | (3,802 | ) | |||||||||||
| Non-GAAP selling, general and administrative | $ | 6,348 | $ | 6,685 | $ | 6,510 | $ | 13,033 | $ | 13,335 | |||||||||||
|
Applied Micro Circuits Corporation Reports Second Quarter Fiscal 2017 Financial Results
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