Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - SIGMA DESIGNS INC | sigm20180306_8k.htm |
Exhibit 99.1
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SIGMA DESIGNS, INC. |
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RECONCILIATION OF PRELIMINARY GAAP NET LOSS TO PRELIMINARY NON-GAAP NET (LOSS) INCOME |
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(Unaudited) |
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(In thousands, except per share data) |
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Three months ended |
Twelve months ended |
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February 3, |
October 28, |
January 28, |
February 3, |
January 28, |
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2018 |
2017 |
2017 |
2018 |
2017 |
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GAAP Net Revenue |
$ | 26,537 | $ | 33,862 | $ | 42,724 | $ | 139,471 | $ | 220,544 | ||||||||||
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Non-GAAP Net Revenue |
$ | 26,537 | $ | 33,862 | $ | 42,724 | $ | 139,471 | $ | 220,544 | ||||||||||
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GAAP Cost of Revenue |
$ | 16,601 | $ | 16,746 | $ | 21,323 | $ | 74,975 | $ | 114,565 | ||||||||||
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Items reconciling GAAP Cost of Revenue to Non-GAAP: |
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Stock based compensation expense |
(51 | ) | (56 | ) | (55 | ) | (218 | ) | (294 | ) | ||||||||||
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Amortization of acquired intangibles |
(48 | ) | (145 | ) | (145 | ) | (483 | ) | (2,972 | ) | ||||||||||
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Impairment of IP, mask sets and design tools |
- | (1,200 | ) | - | (1,200 | ) | - | |||||||||||||
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Restructuring charges, net |
(40 | ) | - | - | (40 | ) | - | |||||||||||||
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GAAP to Non-GAAP adjustments |
(139 | ) | (1,401 | ) | (200 | ) | (1,941 | ) | (3,266 | ) | ||||||||||
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Non-GAAP Cost of Revenue |
$ | 16,462 | $ | 15,345 | $ | 21,123 | $ | 73,034 | $ | 111,299 | ||||||||||
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GAAP Gross Profit |
$ | 9,936 | $ | 17,116 | $ | 21,401 | $ | 64,496 | $ | 105,979 | ||||||||||
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GAAP Gross Margin % |
37.4 | % | 50.5 | % | 50.1 | % | 46.2 | % | 48.1 | % | ||||||||||
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Non-GAAP Gross Profit |
$ | 10,075 | $ | 18,517 | $ | 21,601 | $ | 66,437 | $ | 109,245 | ||||||||||
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Non-GAAP Gross Margin % |
38.0 | % | 54.7 | % | 50.6 | % | 47.6 | % | 49.5 | % | ||||||||||
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GAAP Operating Expenses |
$ | 52,597 | $ | 36,000 | $ | 28,564 | $ | 150,372 | $ | 117,301 | ||||||||||
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Items reconciling GAAP Operating Expenses to Non-GAAP: |
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Stock based compensation expense |
(1,360 | ) | (1,188 | ) | (1,314 | ) | (5,200 | ) | (6,211 | ) | ||||||||||
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Amortization of acquired intangibles |
(430 | ) | (430 | ) | (430 | ) | (1,722 | ) | (2,517 | ) | ||||||||||
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Impairment of IP, mask sets and design tools |
(13,743 | ) | (5,463 | ) | (848 | ) | (22,212 | ) | (1,148 | ) | ||||||||||
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Legal and other professional expenses |
(2,329 | ) | (559 | ) | 11 | (3,332 | ) | - | ||||||||||||
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Restructuring charges |
(6,711 | ) | (563 | ) | - | (9,240 | ) | - | ||||||||||||
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GAAP to Non-GAAP adjustments |
(24,573 | ) | (8,203 | ) | (2,581 | ) | (41,706 | ) | (9,876 | ) | ||||||||||
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Non-GAAP Operating Expenses |
$ | 28,024 | $ | 27,797 | $ | 25,983 | $ | 108,666 | $ | 107,425 | ||||||||||
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Non-GAAP Operating (loss) income |
$ | (17,949 | ) | $ | (9,280 | ) | $ | (4,382 | ) | $ | (42,229 | ) | $ | 1,820 | ||||||