| Silicon Motion Technology Corporation
Reconciliation of GAAP to Non-GAAP Operating Results (in thousands, except percentages and per ADS data, unaudited) | |||||||
| For the Year Ended | |||||||
|
Dec. 31, 2016
($) |
Dec. 31, 2017
( $) | ||||||
| Gross profit (GAAP) | 274,605 | 251,194 | |||||
| Gross margin (GAAP) | 49.4 | % | 48.0 | % | |||
| Stock-based compensation expense(A) | 400 | 293 | |||||
| Gross profit (non-GAAP) | 275,005 | 251,487 | |||||
| Gross margin (non-GAAP) | 49.4 | % | 48.0 | % | |||
| Operating expenses (GAAP) | 137,345 | 155,767 | |||||
| Stock-based compensation expense (A) | (16,964 | ) | (15,200 | ) | |||
| Amortization of intangible assets | (2,103 | ) | (2,456 | ) | |||
| Impairment loss of goodwill | - | (10,337 | ) | ||||
| Litigation expense | (52 | ) | - | ||||
| Operating expenses (non-GAAP) | 118,226 | 127,774 | |||||
| Operating profit (GAAP) | 137,260 | 95,427 | |||||
| Operating margin (GAAP) | 24.7 | % | 18.2 | % | |||
| Total adjustments to operating profit | 19,519 | 28,286 | |||||
| Operating profit (non-GAAP) | 156,779 | 123,713 | |||||
| Operating margin (non-GAAP) | 28.2 | % | 23.6 | % | |||
| Non-operating income (expense) (GAAP) | 1,370 | 3,652 | |||||
| Foreign exchange loss (gain), net | 692 | 157 | |||||
| Impairment of long-term investments | 13 | 120 | |||||
| Non-operating income (expense) (non-GAAP) | 2,075 | 3,929 | |||||
| Net income (GAAP) | 110,940 | 75,033 | |||||
| Total pre-tax impact of non-GAAP
adjustments | 20,224 | 28,563 | |||||
| Income tax impact of non-GAAP
adjustments | (1,171 | ) | (2,306 | ) | |||
| Net income (non-GAAP) | 129,993 | 101,290 | |||||
| Earnings per diluted ADS (GAAP) | $ | 3.12 | $ | 2.09 | |||
| Earnings per diluted ADS (non-GAAP) | $ | 3.64 | $ | 2.81 | |||
| Shares used in computing earnings per diluted ADS (GAAP) | 35,513 | 35,902 | |||||
| Non-GAAP Adjustments | 155 | 107 | |||||
| Shares used in computing earnings per diluted ADS (non-GAAP) | 35,668 | 36,009 | |||||
| (A) Excludes stock-based compensation as follows: | |||||||
| Cost of Sales | 400 | 293 | |||||
| Research & development | 10,529 | 9,255 | |||||
| Sales & marketing | 3,122 | 3,166 | |||||
| General & administrative | 3,313 | 2,779 | |||||
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Silicon Motion Announces Results for the Period Ended December 31, 2017
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