Press Release Tables

INTEGRATED DEVICE TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share data)
Revenues
Cost of revenues
Gross profit
Operating expenses:
Research and development
Selling, general and administrative
Total operating expenses
Three Months Ended
Dec. 28,
Sept. 28,
Dec. 29,
2014
2014
2013
$
151,160
$
137,093
$
124,628
59,796
55,217
49,689
91,364
81,876
74,939
Nine Months Ended
Dec. 28,
Dec. 29,
2014
2013
$
414,555
$
366,139
167,306
154,317
247,249
211,822
32,825
27,165
59,990
30,742
26,795
57,537
31,063
23,687
54,750
95,617
79,419
175,036
107,939
77,826
185,765
Operating income
31,374
24,339
20,189
72,213
26,057
Gain (loss) from divestiture
Other income, net
Income from continuing operations before income taxes
Provision for income taxes
1,558
32,932
91
405
24,744
498
(3,415)
1,108
17,882
543
2,825
75,038
840
78,934
1,921
106,912
661
Net income from continuing operations
32,841
24,246
17,339
74,198
106,251
(14,538)
(55)
(14,483)
(9,747)
57
(9,804)
(10,123)
268
(10,391)
16,840
(36,438)
(43)
(19,555)
(17,922)
(6)
(17,916)
Discontinued operations:
Gain from divestiture
Loss from discontinued operations
Provision for (benefit from) income taxes
Net loss from discontinued operations
Net income
$
Basic net income per share - continuing operations
Basic net loss per share - discontinued operations
Basic net income per share
$
Diluted net income per share - continuing operations
Diluted net loss per share - discontinued operations
Diluted net income per share
$
Weighted average shares:
Basic
Diluted
$
$
18,358
$
0.22
(0.10)
0.12
$
0.21
(0.09)
0.12
$
148,552
153,973
$
$
14,442
$
6,948
$
0.16
(0.06)
0.10
$
0.11
(0.06)
0.05
$
0.16
(0.07)
0.09
$
0.11
(0.07)
0.04
$
148,683
153,784
$
$
151,018
155,035
$
$
54,643
$
0.50
(0.13)
0.37
$
0.48
(0.12)
0.36
$
148,844
153,904
$
$
88,335
0.71
(0.12)
0.59
0.70
(0.12)
0.58
148,835
152,560
INTEGRATED DEVICE TECHNOLOGY, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (a)
(Unaudited)
(In thousands, except per share data)
Dec. 28,
Three Months Ended
Sept. 28,
Dec. 29,
2014
GAAP net income from continuing operations
GAAP diluted net income per share continuing operations
Acquisition related:
Amortization of acquisition related intangibles
Acquisition related legal and consulting fees
Restructuring related:
Severance and retention costs
Facility closure costs
Loss (gain) from divestiture
Assets impairment and other
Other:
Stock-based compensation expense
Gain from divestiture
Assets impairment and other
Compensation expense (benefit) - deferred compensation plan
(Gain) loss on deferred compensation plan securities
Tax effects of Non-GAAP adjustments
Non-GAAP net income from continuing operations
GAAP weighted average shares - diluted
Non-GAAP adjustment
Non-GAAP weighted average shares - diluted
Non-GAAP diluted net income per share continuing operations
GAAP gross profit
Acquisition related:
Amortization of acquisition related intangibles
Restructuring related:
Severance and retention costs
Facility closure costs
Assets impairment and other
Other:
Assets impairment and other
Compensation expense (benefit) - deferred compensation plan
Stock-based compensation expense
Non-GAAP gross profit
$
$
32,841
0.21
2014
$
$
1,347
(125)
24,246
0.16
2013
$
$
1,676
-
129
209
-
Nine Months Ended
Dec. 28,
Dec. 29,
319
20
401
17,339
0.11
2014
$
$
74,198
0.48
2013
$ 106,251
$
0.70
3,322
21
5,572
(125)
9,965
729
400
6
3,415
(151)
974
276
2,703
6,073
27
(78,934)
3,893
5,878
(104)
525
(500)
(1,521)
$ 38,679
153,973
1,463
155,436
$
0.25
5,929
(242)
245
(826)
$ 31,768
153,784
2,128
155,912
$
0.20
3,169
(114)
557
(627)
(1,402)
$ 25,935
155,035
2,099
157,134
$
0.17
16,769
(104)
777
(735)
(3,206)
$ 97,099
153,904
1,802
155,706
$
0.62
10,309
(114)
1,080
(1,145)
(3,058)
$ 55,076
152,560
2,659
155,219
$
0.35
$
$
$
74,939
$ 247,249
$ 211,822
2,435
3,909
7,305
91,364
959
1,264
(96)
-
$
156
592
92,975
GAAP R&D expenses:
Restructuring related:
Severance and retention costs
Facility closure costs
Assets impairment and other
Other:
Assets impairment and other
Compensation expense (benefit) - deferred compensation plan
Stock-based compensation expense
Non-GAAP R&D expenses
$
32,825
81,876
96
334
2
(28)
23
2,269
87
8
(102)
233
1,347
$ 255,030
(114)
333
1,128
$ 220,467
$
$ 107,939
$
(70)
436
83,936
$
(114)
172
403
77,809
$
30,742
$
31,063
95,617
(91)
(209)
-
(136)
(67)
(86)
(2)
-
(467)
(209)
(434)
(3,929)
(9)
-
$
(255)
(2,562)
29,708
$
114
(2,464)
28,189
$
123
(289)
(1,514)
29,295
$
(381)
(7,547)
86,579
$
(3,995)
(560)
(4,212)
95,234
GAAP SG&A expenses:
Acquisition related:
Amortization of acquisition related intangibles
Acquisition related legal and consulting fees
Restructuring related:
Severance and retention costs
Facility closure costs
Other:
Compensation expense (benefit) - deferred compensation plan
Stock-based compensation expense
Non-GAAP SG&A expenses
$
27,165
$
26,795
$
23,687
$
79,419
$
77,826
GAAP interest income and other, net
Gain from divestiture
(Gain) loss on deferred compensation plan securities
Non-GAAP interest income and other, net
$
GAAP provision for income taxes - continuing operations
Tax effects of Non-GAAP adjustments
Non-GAAP provision for income taxes - continuing operations
$
$
$
$
(388)
125
(412)
-
(887)
(21)
(1,663)
125
(2,660)
(729)
(134)
-
(87)
(20)
(314)
(2)
(484)
(67)
(2,057)
(10)
(114)
(2,724)
23,930
58
(3,029)
23,305
(96)
(1,252)
21,115
(163)
(7,875)
69,292
(187)
(4,969)
67,214
$
1,558
(104)
(500)
954
$
91
1,521
1,612
$
$
$
$
405
245
650
$
498
826
1,324
$
$
$
$
1,108
(627)
481
$
543
1,402
1,945
$
$
$
$
2,825
(104)
(735)
1,986
$
840
3,206
4,046
$
$
$
1,921
(1,145)
776
661
3,058
3,719
(a) Refer to the accompanying “Notes to Non-GAAP Financial Measures” for a detailed discussion of management’s use of non-GAAP financial measures.
INTEGRATED DEVICE TECHNOLOGY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents
Short-term investments
Accounts receivable, net
Inventories
Prepaid and other current assets
Total current assets
Property, plant and equipment, net
Goodwill
Acquisition-related intangibles
Other assets
TOTAL ASSETS
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
Accrued compensation and related expenses
Deferred income on shipments to distributors
Deferred taxes liabilities
Other accrued liabilities
Total current liabilities
$
$
$
Dec. 28,
March 30,
2014
2014
127,787
383,566
76,294
40,945
15,203
643,795
64,744
135,644
6,535
26,556
877,274
26,043
37,949
15,244
1,396
22,385
103,017
$
$
$
91,211
362,604
68,904
49,622
13,034
585,375
69,827
135,644
18,741
21,373
830,960
25,442
24,343
14,006
1,346
11,525
76,662
Deferred tax liabilities
Long term income taxes payable
Other long-term obligations
Total liabilities
1,494
353
18,469
123,333
1,494
266
18,683
97,105
Stockholders' equity
753,941
733,855
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$
877,274
$
830,960