II-VI Incorporated Reports Q4 and Full-Year Fiscal 2022 Results
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Table 4 |
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Reconciliation of GAAP Measures to non-GAAP Measures |
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$ Millions |
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(Unaudited) | |
Three Months Ended | | |
Year Ended |
| | |
Jun 30, | |
Mar 31, | |
Jun 30, | | |
Jun 30, | |
Jun 30, |
| | | |
2022 | | | |
2022 | | | |
2021 | | | | |
2022 | | | |
2021 | |
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Gross profit on GAAP basis | | $ | 326.0 | | | $ | 321.7 | | | $ | 297.8 | | | | $ | 1,265.5 | | | $ | 1,177.5 | |
| Share-based compensation | | | 0.9 | | | | 1.3 | | | | 3.4 | | | | | 5.1 | | | | 12.1 | |
| Amortization of acquired intangibles (4) | | | 9.6 | | | | 9.4 | | | | 9.8 | | | | | 38.3 | | | | 38.8 | |
| Start-up costs (3) | | | — | | | | 1.6 | | | | — | | | | | 2.8 | | | | — | |
| Restructuring, transaction expenses and other (1) | | | 6.9 | | | | 1.7 | | | | 0.7 | | | | | 9.8 | | | | 6.7 | |
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Gross profit on non-GAAP basis | | $ | 343.4 | | | $ | 335.7 | | | $ | 311.7 | | | | $ | 1,321.5 | | | $ | 1,235.0 | |
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Internal research and development on GAAP basis | | $ | 95.9 | | | $ | 96.9 | | | $ | 83.8 | | | | $ | 377.1 | | | $ | 330.1 | |
| Share-based compensation | | | (1.3 | ) | | | (2.0 | ) | | | (4.8 | ) | | | | (7.6 | ) | | | (17.0 | ) |
| Start-up costs (3) | | | (6.4 | ) | | | (13.0 | ) | | | — | | | | | (29.5 | ) | | | — | |
| Restructuring, transaction expenses and other (5) | | | (0.6 | ) | | | — | | | | — | | | | | (0.6 | ) | | | — | |
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Internal research and development on non-GAAP basis | | $ | 87.6 | | | $ | 81.9 | | | $ | 79.0 | | | | $ | 339.4 | | | $ | 313.1 | |
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Selling, general and administrative on GAAP basis | | $ | 115.9 | | | $ | 118.0 | | | $ | 116.8 | | | | $ | 474.1 | | | $ | 445.2 | |
| Share-based compensation | | | (11.3 | ) | | | (14.9 | ) | | | (10.3 | ) | | | | (60.4 | ) | | | (49.8 | ) |
| Amortization of acquired intangibles (4) | | | (10.3 | ) | | | (10.0 | ) | | | (10.8 | ) | | | | (41.4 | ) | | | (43.4 | ) |
| Restructuring, transaction expenses and other (1) | | | (7.1 | ) | | | (11.5 | ) | | | (11.5 | ) | | | | (40.5 | ) | | | (31.6 | ) |
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Selling, general and administrative on non-GAAP basis | | $ | 87.2 | | | $ | 81.6 | | | $ | 84.3 | | | | $ | 331.8 | | | $ | 320.4 | |
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Operating income on GAAP basis | | $ | 114.2 | | | $ | 106.8 | | | $ | 97.1 | | | | $ | 414.3 | | | $ | 402.1 | |
| Share-based compensation | | | 13.5 | | | | 18.2 | | | | 18.5 | | | | | 73.1 | | | | 78.9 | |
| Start-up costs (3) | | | 6.4 | | | | 14.6 | | | | — | | | | | 32.3 | | | | — | |
| Amortization of acquired intangibles | | | 19.9 | | | | 19.4 | | | | 20.6 | | | | | 79.7 | | | | 82.2 | |
| Restructuring, transaction expenses and other (1) | | | 14.6 | | | | 13.2 | | | | 12.2 | | | | | 50.9 | | | | 38.3 | |
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Operating income on non-GAAP basis | | $ | 168.6 | | | $ | 172.0 | | | $ | 148.5 | | | | $ | 650.2 | | | $ | 601.5 | |
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