Cavium Announces Financial Results for Q4 2017

 

CAVIUM, INC.


Unaudited Reconciliation of Non-GAAP Adjustments


(in thousands, except per share data and percentages)





Three Months Ended



December 31,
2017



September 30,
2017


Reconciliation of GAAP income (loss) from operations to non-GAAP income from operations:








GAAP income (loss) from operations

$

(12,133)



$

488


Stock-based compensation and related payroll taxes


26,443




27,351


Inventory charges


543




(18)


Amortization of acquisition related assets


29,873




29,950


Acquisition and integration related costs


18,176




4,740


Non-GAAP income from operations

$

62,902



$

62,511


Non-GAAP income from operations as a percentage of revenue


24.2

%



24.8

%









Reconciliation of GAAP net loss to non-GAAP net income:








GAAP net loss

$

(1,050)



$

(6,214)


Non-GAAP adjustments:








Stock-based compensation and related payroll taxes


26,443




27,351


Inventory charges


543




(18)


Amortization of acquisition related assets


29,873




29,950


Acquisition and integration related costs


18,176




4,740


Tax reform impact and acquisition related tax adjustment


(13,232)




-


Total of non-GAAP adjustments


61,803




62,023


Non-GAAP net income

$

60,753



$

55,809










GAAP net loss per share, diluted

$

(0.02)



$

(0.09)


Non-GAAP adjustments detailed above


0.85




0.85


Non-GAAP net income per share, diluted

$

0.83



$

0.76










GAAP weighted average shares, diluted


69,044




68,675


Non-GAAP share adjustment


4,190




4,488


Non-GAAP weighted average shares, diluted


73,234




73,163



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