FormFactor, Inc. Reports Strong Fourth Quarter and Full Year 2017 Results


FORMFACTOR, INC.
RECONCILIATION OF NON-GAAP NET INCOME
(In thousands, except per share amounts) 
(Unaudited)

  Three Months Ended  Fiscal Year Ended
  December 30, 2017  December 31, 2016  December 30, 2017  December 31, 2016
        
GAAP net income (loss)$5,588  $(15,443) $40,913  $(6,557)
Adjustments to reconcile GAAP net loss to Non-GAAP net income:       
Deferred revenue  640    903 
Stock-based compensation4,952  3,245  16,230  10,722 
Restructuring and impairment charges, net481  12,697  810  19,692 
Acquisition and integration related expenses782  699  2,520  7,459 
Amortization of intangibles, inventory and fixed assets fair value adjustment due to acquisition7,515  13,059  31,509  45,527 
Income tax valuation allowance release  (197)   (44,048)
Contingency  781  (206) 781 
Other income  (145)   (145)
Proceeds from sale of intellectual property    (400) (400)
Benefit from U.S. tax reform715    715   
Income tax effect of non-GAAP adjustments(2,053) (920) (2,624) (1,907)
Non-GAAP net income$17,980  $14,416  $89,467  $32,027 
        
Non-GAAP net income per share:       
Basic$0.25  $0.20  $1.24  $0.49 
Diluted$0.24   $ 0.20     $ 1.21     $ 0.49  
               
Weighted-average number of shares used in per share calculations:              
Basic 72,846     70,807     72,292     64,941  
Diluted 74,756     72,116     74,239     65,948  

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