| * | Non-GAAP Operating Expenses do not include adjustments for the following components of our net income: (i) additional AMTC related costs of $—, $19, and $2,621 for the three months ended March 26, 2021, December 25, 2020, and March 27, 2020, respectively, and labor savings costs of $—, $109, and $289 for the three months ended March 26, 2021, December 25, 2020, and March 27, 2020, respectively, and (ii) additional AMTC related costs of $723 and $11,224 for the fiscal years ended March 26, 2021 and March 27, 2020, respectively, and labor savings costs of $218 and $6,173 for the fiscal years ended March 26, 2021 and March 27, 2020, respectively. |
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Three-Month Period Ended
|
Fiscal Year Ended
| |||||||||||||||||||
|
March 26,
2021 |
December 25,
2020 |
March 27,
2020 |
March 26,
2021 |
March 27,
2020 | ||||||||||||||||
|
(Dollars in thousands)
| ||||||||||||||||||||
| Reconciliation of Operating Income | ||||||||||||||||||||
| GAAP Operating Income (Loss) | $ | 19,448 | $ | (24,224 | ) | $ | 18,905 | $ | 12,158 | $ | 52,828 | |||||||||
| PSL and Sanken distribution agreement | 930 | 1,500 | — | 8,628 | — | |||||||||||||||
| Stock-based compensation | 2,969 | 45,876 | 384 | 49,870 | 1,435 | |||||||||||||||
| AMTC facility consolidation one-time costs | 2,113 | 2,228 | — | 7,812 | — | |||||||||||||||
| Amortization of acquisition-related intangible assets | 310 | 344 | — | 768 | — | |||||||||||||||
| COVID-19 related expenses | 322 | 435 | 581 | 5,228 | 581 | |||||||||||||||
| Impairment of long-lived assets | 7,119 | — | — | 7,119 | — | |||||||||||||||
| Change in fair value of contingent consideration | (2,500 | ) | — | — | (2,500 | ) | — | |||||||||||||
| Transaction fees | 3,727 | 1,729 | 2,553 | 7,444 | 6,335 | |||||||||||||||
| Severance | — | (181 | ) | 3,263 | 156 | 6,415 | ||||||||||||||
| Total Non-GAAP Adjustments | $ | 14,990 | $ | 51,931 | $ | 6,781 | $ | 84,525 | $ | 14,766 | ||||||||||
| Non-GAAP Operating Income * | $ | 34,438 | $ | 27,707 | $ | 25,686 | $ | 96,683 | $ | 67,594 | ||||||||||
| % of net sales | 19.7 | % | 16.8 | % | 14.7 | % | 16.4 | % | 10.4 | % | ||||||||||
