Applied Micro Circuits Corporation Reports Third Quarter Fiscal 2016 Financial Results
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APPLIED MICRO CIRCUITS CORPORATION | |
RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET LOSS | |
(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 | | | | | | | | | | | | | | | | GAAP net loss | $ | (8,199 | ) | | $ | (8,061 | ) | | | $ | (12,131 | ) | | | $ | (23,664 | ) | | $ | (36,913 | ) | | Adjustments: | | | | | | | | | | | | | Stock-based compensation expense | | 6,141 | | | | 5,934 | | | | | 4,857 | | | | | 18,167 | | | | 14,303 | | | Amortization of purchased intangible assets | | - | | | | - | | | | | - | | | | | - | | | | 105 | | | Veloce acquisition consideration | | - | | | | - | | | | | - | | | | | - | | | | 7,140 | | | Restructuring | | (29 | ) | | | 15 | | | | | 221 | | | | | 82 | | | | 1,322 | | | Impairment of a strategic investment | | - | | | | - | | | | | - | | | | | - | | | | 2,500 | | | Reversals of impairment charges upon sales of marketable securities | | - | | | | (267 | ) | | | | (129 | ) | | | | (1,694 | ) | | | (158 | ) | | Income tax effect on non-GAAP adjustments | | (30 | ) | | | (25 | ) | | | | 62 | | | | | (677 | ) | | | (307 | ) | | Total GAAP to non-GAAP adjustments | | 6,082 | | | | 5,657 | | | | | 5,011 | | | | | 15,878 | | | | 24,905 | | | Non-GAAP net loss | $ | (2,117 | ) | | $ | (2,404 | ) | | | $ | (7,120 | ) | | | $ | (7,786 | ) | | $ | (12,008 | ) | | | | | | | | | | | | | | | Diluted non-GAAP net loss per share | $ | (0.03 | ) | | $ | (0.03 | ) | | | $ | (0.09 | ) | | | $ | (0.09 | ) | | $ | (0.15 | ) | | | | | | | | | | | | | | | Shares used in calculating diluted non-GAAP net loss per share | | 83,191 | | | | 82,176 | | | | | 78,920 | | | | | 82,186 | | | | 78,442 | | | | | | | | | | | | | | | | Diluted net loss per share: | | | | | | | | | | | | | GAAP diluted net loss per share | $ | (0.10 | ) | | $ | (0.10 | ) | | | $ | (0.15 | ) | | | $ | (0.29 | ) | | $ | (0.47 | ) | | GAAP to non-GAAP adjustments | | 0.07 | | | | 0.07 | | | | | 0.06 | | | | | 0.19 | | | | 0.32 | | | Non-GAAP diluted net loss per share | $ | (0.03 | ) | | $ | (0.03 | ) | | | $ | (0.09 | ) | | | $ | (0.09 | ) | | $ | (0.15 | ) | | | | | | | | | | | | | | | Reconciliation of shares used in calculating non-GAAP net loss per share: | | | | | | | | | | | | | Shares used in calculating the basic net loss per share | | 83,191 | | | | 82,176 | | | | | 78,920 | | | | | 82,186 | | | | 78,442 | | | Adjustment for dilutive securities | | - | | | | - | | | | | - | | | | | - | | | | - | | | Shares used in calculating diluted non-GAAP net loss per share | | 83,191 | | | | 82,176 | | | | | 78,920 | | | | | 82,186 | | | | 78,442 | | | | | | | | | | | | | | |
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