Fairchild Reports Results for the Second Quarter of 2016


 
 
Fairchild Semiconductor International, Inc.
Reconciliation of Net Income (Loss) To Adjusted Net Income
(In millions)
(Unaudited)
           
   Three Months Ended  Six Months Ended
   June 26,  March 27,  June 28,  June 26,  June 28,
   2016  2016  2015  2016  2015
           
Net income (loss) $6.9  $14.8  $(0.9) $21.7  $0.2 
Adjustments to reconcile net income (loss) to adjusted net income:          
Restructuring, impairments, and other costs 0.6  1.4  4.2  2.0  8.9 
Gain on disposal of held for sale assets   (12.3)   (12.3)  
Charge for litigation 0.5      0.5   
Acquisition-related costs (2) 5.9  5.5    11.4   
Accelerated depreciation on assets related to factory closures (1)     3.5    8.0 
Inventory write-offs associated with factory closures (1)     4.6    4.6 
Goodwill impairment charge         0.6 
Amortization of acquisition-related intangibles 1.9  1.9  2.1  3.8  4.2 
Associated tax effects of the above and other acquisition-related intangibles (0.2) 0.3  0.4  0.1  0.7 
Adjusted net income   $ 15.6     $ 11.6     $ 13.9     $ 27.2     $ 27.2  
                     
Adjusted net income per common share:                    
Basic   $ 0.14     $ 0.10     $ 0.12     $ 0.24     $ 0.23  
Diluted   $ 0.13     $ 0.10     $ 0.12     $ 0.23     $ 0.23  
                     
(1) Recorded in cost of sales                    
(2) Recorded in cost of sales, research and development, and selling, general and administrative                    

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