RECONCILIATION OF U.S. GAAP GROSS PROFIT, |
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OPERATING EXPENSES AND OPERATING INCOME TO NON-GAAP |
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GROSS PROFIT, OPERATING EXPENSES AND OPERATING INCOME |
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(In thousands, except percentages) - (Unaudited) |
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|
|
|
|
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Three Months Ended |
|
Twelve Months Ended |
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|
December 26, 2020 |
|
September 26, 2020 |
|
December 31, 2019* |
|
December 26, 2020 |
|
December 31, 2019* |
|
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U.S. GAAP gross profit |
$ |
75,349 |
|
$ |
68,888 |
|
$ |
39,587 |
|
$ |
278,453 |
|
$ |
135,028 |
|
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Pre-tax non-GAAP items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Merger related expenses |
|
505 |
|
|
(15 |
) |
|
15,388 |
|
|
10,724 |
|
|
15,388 |
|
|||||
Restructuring expense |
|
8,104 |
|
|
— |
|
|
5,945 |
|
|
8,104 |
|
|
5,945 |
|
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| Non-GAAP gross profit |
|
83,958 |
|
|
68,873 |
|
|
60,920 |
|
|
297,281 |
|
|
156,361 |
|
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| U.S. GAAP gross margin as a percentage of revenue |
|
49 |
% |
|
54 |
% |
|
33 |
% |
|
50 |
% |
|
44 |
% |
|||||
| Non-GAAP gross margin as a percentage of revenue |
|
54 |
% |
|
54 |
% |
|
51 |
% |
|
53 |
% |
|
51 |
% |
|||||
| U.S. GAAP operating expenses |
$ |
60,638 |
|
$ |
59,606 |
|
$ |
62,946 |
|
$ |
251,776 |
|
$ |
140,071 |
|
|||||
| Pre-tax non-GAAP items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
| Merger related expenses |
|
1,647 |
|
|
645 |
|
|
9,867 |
|
|
5,906 |
|
|
14,761 |
|
|||||
| Restructuring expense |
|
— |
|
|
228 |
|
|
3,116 |
|
|
3,399 |
|
|
3,116 |
|
|||||
| Amortization of intangibles |
|
12,666 |
|
|
13,646 |
|
|
9,284 |
|
|
53,747 |
|
|
10,445 |
|
|||||
| Non-GAAP operating expenses |
|
46,325 |
|
|
45,087 |
|
|
40,679 |
|
|
188,724 |
|
|
111,749 |
|
|||||
| Non-GAAP operating income |
$ |
37,633 |
|
$ |
23,786 |
|
$ |
20,241 |
|
$ |
108,557 |
|
$ |
44,612 |
|
|||||
| GAAP operating margin as a percentage of revenue |
|
9 |
% |
|
7 |
% |
|
(19 |
)% |
|
5 |
% |
|
(2 |
)% |
|||||
| Non-GAAP operating margin as a percentage of revenue |
|
24 |
% |
|
19 |
% |
|
17 |
% |
|
20 |
% |
|
15 |
% |
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|
Onto Innovation Reports 2020 Fourth Quarter and Full Year Results
*The results for December 2019 include the results of Rudolph Technologies Inc. through October 25, 2019 and Onto Innovation from October 26 to December 31, 2019.
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