Pericom Semiconductor Corporation
Reconciliation of GAAP Gross Margin to Non-GAAP Gross Margin
(In thousands)
(unaudited)
Three Months Ended
-------------------------------------
September 29, June 30, October 1,
2012 2012 2011
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GAAP gross margin $ 13,911 $ 13,548 $ 12,537
- % of revenues 37.9% 35.7% 35.5%
Reconciling items:
Share-based compensation 52 50 54
Amortization of intangible assets 477 477 454
Fair value adjustment to
depreciation expense on acquired
fixed assets 10 10 10
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Total reconciling items 539 537 518
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Non-GAAP gross margin $ 14,450 $ 14,085 $ 13,055
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- % of revenues 39.3% 37.1% 36.9%
Reconciliation of GAAP R&D Expenses to Non-GAAP R&D Expenses
(unaudited)
GAAP research and development
expenses $ 5,323 $ 5,460 $ 5,316
- % of revenues 14.5% 14.4% 15.0%
Reconciling items:
Share-based compensation (322) (335) (371)
Amortization of intangible assets (56) (57) (160)
Fair value adjustment to
depreciation expense on acquired
fixed assets (10) (10) (10)
------------- ---------- ----------
Total reconciling items (388) (402) (541)
------------- ---------- ----------
Non-GAAP research and development
expenses $ 4,935 $ 5,058 $ 4,775
============= ========== ==========
- % of revenues 13.4% 13.3% 13.5%
Reconciliation of GAAP SG&A Expenses to Non-GAAP SG&A Expenses
(unaudited)
GAAP selling, general and
administrative expenses $ 7,639 $ 8,135 $ 7,339
- % of revenues 20.8% 21.4% 20.8%
Reconciling items:
Share-based compensation (467) (518) (549)
Amortization of intangible assets (243) (243) (239)
Fair value adjustment to
depreciation expense on acquired
fixed assets (30) (30) (30)
Write off of note receivable - (556) -
------------- ---------- ----------
Total reconciling items (740) (1,347) (818)
------------- ---------- ----------
Non-GAAP selling, general and
administrative expenses $ 6,899 $ 6,788 $ 6,521
============= ========== ==========
- % of revenues 18.8% 17.9% 18.5%
Pericom Semiconductor Corporation
Condensed Consolidated Balance Sheets
(In thousands)
(unaudited)
As of As of
September 29, June 30,
2012 2012
------------- -------------
Assets
Current assets:
Cash and cash equivalents $ 31,564 $ 24,283
Short-term investments 79,152 79,924
Accounts receivable - trade 24,528 24,010
Inventories 17,528 16,604
Prepaid expenses and other current assets 6,666 6,099
Deferred income taxes 1,566 1,549
------------- -------------
Total current assets 161,004 152,469
Property, plant and equipment-net 62,525 56,102
Investments in unconsolidated affiliates 2,548 2,474
Deferred income taxes non-current 2,261 2,447
Long-term investments in marketable securities 12,619 23,628
Goodwill 16,772 16,797
Intangible assets 12,044 12,831
Other assets 8,942 9,058
------------- -------------
Total assets $ 278,715 $ 275,806
============= =============
Liabilities and Shareholders' Equity
Current liabilities:
Short-term debt $ 2,886 $ 1,364
Accounts payable 12,772 14,860
Accrued liabilities 10,472 8,608
------------- -------------
Total current liabilities 26,130 24,832
Industrial development subsidy 8,057 8,577
Deferred tax liabilities 6,120 6,191
Other long-term liabilities 2,500 2,571
------------- -------------
Total liabilities 42,807 42,171
Shareholders' equity:
Common stock and paid in capital 123,499 123,362
Retained earnings and other comprehensive
income 112,409 110,273
------------- -------------
Total shareholders' equity 235,908 233,635
------------- -------------
Total liabilities and shareholders' equity $ 278,715 $ 275,806
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Pericom Semiconductor Reports Fiscal First Quarter 2013 Financial Results
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