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
Sept. 28,
June 29,
Sept. 29,
2014
2014
2013
$
137,093
$
126,302
$
124,047
55,217
52,293
53,286
81,876
74,009
70,761
Six Months Ended
Sept. 28,
Sept. 29,
2014
2013
$
263,395
$
241,511
107,510
104,628
155,885
136,883
30,742
26,795
57,537
32,050
25,459
57,509
38,937
27,301
66,238
62,792
52,254
115,046
76,876
54,139
131,015
Operating income
24,339
16,500
4,523
40,839
5,868
Gain from divestiture
Other income, net
Income from continuing operations before income taxes
Provision for income taxes
405
24,744
498
862
17,362
251
82,349
756
87,628
217
1,267
42,106
749
82,349
813
89,030
118
Net income from continuing operations
24,246
17,111
87,411
41,357
88,912
Discontinued operations:
Gain from divestiture
Loss from discontinued operations
Provision for (benefit from) income taxes
Net income (loss) from discontinued operations
(9,747)
57
(9,804)
16,840
(12,153)
(45)
4,732
(3,935)
(175)
(3,760)
16,840
(21,900)
12
(5,072)
(7,799)
(274)
(7,525)
Net income
$
Basic net income per share - continuing operations
Basic net income (loss) per share - discontinued operations
Basic net income per share
$
Diluted net income per share - continuing operations
Diluted net income (loss) per share - discontinued operations
Diluted net income per share
$
Weighted average shares:
Basic
Diluted
$
$
14,442
$
21,843
$
0.16
(0.06)
0.10
$
0.11
0.04
0.15
$
0.16
(0.07)
0.09
$
0.11
0.03
0.14
$
148,683
153,784
$
$
149,283
153,741
$
$
83,651
$
0.58
(0.02)
0.56
$
0.57
(0.03)
0.54
$
149,814
153,497
$
$
36,285
$
0.28
(0.04)
0.24
$
0.27
(0.03)
0.24
$
148,983
153,816
$
$
81,387
0.60
(0.05)
0.55
0.59
(0.05)
0.54
148,157
151,630
INTEGRATED DEVICE TECHNOLOGY, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (a)
(Unaudited)
(In thousands, except per share data)
Three Months Ended
Sept. 28,
June 29,
Sept. 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
Gain from divestiture
Assets impairment and other
Other:
Stock-based compensation expense
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:
Compensation expense (benefit) - deferred compensation plan
Stock-based compensation expense
Non-GAAP gross profit
$
$
24,246
0.16
2014
$
$
17,111
0.11
Six Months Ended
Sept. 28,
Sept. 29,
2013
$
$
87,411
0.57
2014
$
$
41,357
0.27
2013
$
$
88,912
0.59
1,676
-
2,549
-
3,322
240
4,225
-
6,643
708
319
20
401
526
47
2,302
4,499
13
(82,349)
4,080
845
67
2,703
5,673
21
(82,349)
4,044
5,929
(242)
245
(826)
$ 31,768
153,784
2,128
155,912
$
0.20
4,962
494
(480)
(859)
$ 26,652
153,741
1,867
155,608
$
0.17
2,320
623
(619)
(994)
$ 18,546
153,497
3,065
156,562
$
0.12
10,891
252
(235)
(1,685)
$ 58,420
153,816
2,017
155,833
$
0.37
7,140
523
(518)
(1,656)
$ 29,141
151,630
2,836
154,466
$
0.19
$
$
$
70,761
$ 155,885
$ 136,883
2,435
2,950
4,870
81,876
74,009
1,264
1,686
96
334
23
1,935
$
(70)
436
83,936
GAAP R&D expenses:
Restructuring related:
Severance and retention costs
Facility closure costs
Assets impairment and other
Other:
Compensation expense (benefit) - deferred compensation plan
Stock-based compensation expense
Non-GAAP R&D expenses
$
30,742
$
147
319
78,119
$
32,050
86
4
(38)
119
2,269
87
6
(74)
$
192
392
73,832
77
755
$ 162,055
161
725
$ 142,658
$
38,937
$
$
62,792
76,876
(136)
(67)
(240)
(367)
(2,751)
(5)
(4,118)
(376)
(434)
(3,843)
(7)
(4,118)
$
114
(2,464)
28,189
$
(240)
(2,521)
28,682
$
(323)
(383)
31,357
$
(126)
(4,985)
56,871
$
(271)
(2,698)
65,939
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
$
26,795
$
25,459
$
27,301
$
52,254
$
54,139
GAAP interest income and other, net
(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
$
$
$
$
(412)
-
(863)
-
(887)
(240)
(1,275)
-
(1,773)
(708)
(87)
(20)
(263)
(47)
(1,662)
(4)
(350)
(67)
(1,743)
(8)
58
(3,029)
23,305
(107)
(2,122)
22,057
(108)
(1,545)
22,855
(49)
(5,151)
45,362
(91)
(3,717)
46,099
$
405
245
650
$
498
826
1,324
$
$
$
862
(480)
382
251
859
1,110
$
$
$
$
$
756
(619)
137
217
994
1,211
$
$
$
$
$
$
1,267
(235)
1,032
$
749
1,685
2,434
$
$
$
813
(518)
295
118
1,656
1,774
(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
$
$
$
Sept. 28,
March 30,
2014
2014
105,020
384,493
77,437
37,639
10,688
615,277
65,765
135,644
7,882
23,626
848,194
27,002
28,456
15,497
1,440
14,605
87,000
$
$
$
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
272
18,444
107,210
1,494
266
18,683
97,105
Stockholders' equity
740,984
733,855
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$
848,194
$
830,960