Additional details reconciling the selected non-GAAP financial measure to the selected GAAP financial measure may be found in "Notes on Non-GAAP Financial Measures."
Summary of Schedule Reconciling Selected Non-GAAP Financial Measures | ||||||||||||
(unaudited, in millions, except for per share amounts) | ||||||||||||
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended June 28, 2015 | ||||||||||
|
|
GAAP |
|
Non-GAAP Adjustments |
|
Non-GAAP | ||||||
Net sales |
|
$ |
317.1 |
|
|
$ |
|
|
|
$ |
317.1 |
|
Gross profit |
|
$ |
172.1 |
|
|
$ |
8.6 |
|
|
$ |
180.7 |
|
Operating income |
|
$ |
25.2 |
|
|
$ |
53.6 |
|
|
$ |
78.8 |
|
Net income |
|
$ |
14.7 |
|
|
$ |
50.6 |
|
|
$ |
65.3 |
|
Diluted earnings per share |
|
$ |
0.15 |
|
|
$ |
0.53 |
|
|
$ |
0.68 |
|
Additional details reconciling the selected non-GAAP financial measure to the selected GAAP financial measure may be found in the "Schedule Reconciling Selected Non-GAAP Financial Measures" and "Notes on Non-GAAP Financial Measures."
Consolidated Condensed Statement of Income | ||||||||||||||||||||
(unaudited, in millions, except for per share amounts) | ||||||||||||||||||||
| ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended |
|
Nine Months Ended | ||||||||||||||||
|
|
Jun 28,
|
|
Mar 29,
|
|
Jun 29,
|
|
Jun 28,
|
|
Jun 29,
| ||||||||||
Net sales |
|
$ |
317.1 |
|
|
$ |
296.2 |
|
|
$ |
292.3 |
|
|
$ |
916.8 |
|
|
$ |
834.9 |
|
Cost of sales |
|
145.0 |
|
|
126.9 |
|
|
138.7 |
|
|
407.4 |
|
|
394.4 |
| |||||
Gross profit |
|
$ |
172.1 |
|
|
$ |
169.3 |
|
|
$ |
153.6 |
|
|
$ |
509.4 |
|
|
$ |
440.5 |
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Operating expenses |
|
|
|
|
|
|
|
|
|
| ||||||||||
Selling, general and administrative |
|
$ |
63.4 |
|
|
$ |
58.9 |
|
|
$ |
61.0 |
|
|
$ |
182.2 |
|
|
$ |
179.1 |
|
Research and development |
|
52.3 |
|
|
46.4 |
|
|
48.0 |
|
|
146.3 |
|
|
141.4 |
| |||||
Amortization of intangible assets |
|
24.8 |
|
|
22.7 |
|
|
23.4 |
|
|
71.1 |
|
|
69.7 |
| |||||
Restructuring and severance charges |
|
3.1 |
|
|
3.8 |
|
|
14.6 |
|
|
14.0 |
|
|
27.1 |
| |||||
Acquisition related costs |
|
3.3 |
|
|
2.1 |
|
|
0.3 |
|
|
5.5 |
|
|
2.4 |
| |||||
Total operating expenses |
|
$ |
146.9 |
|
|
$ |
133.9 |
|
|
$ |
147.3 |
|
|
$ |
419.1 |
|
|
$ |
419.7 |
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Operating income |
|
$ |
25.2 |
|
|
$ |
35.4 |
|
|
$ |
6.3 |
|
|
$ |
90.3 |
|
|
$ |
20.8 |
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Interest and other (expense), net |
|
(8.0) |
|
|
(6.3) |
|
|
(7.1) |
|
|
(20.9) |
|
|
(23.8) |
| |||||
Income (loss) before income taxes |
|
$ |
17.2 |
|
|
$ |
29.1 |
|
|
$ |
(0.8) |
|
|
$ |
69.4 |
|
|
$ |
(3.0) |
|
Provision for income taxes |
|
2.5 |
|
|
4.2 |
|
|
3.5 |
|
|
10.2 |
|
|
6.7 |
| |||||
Net income (loss) |
|
$ |
14.7 |
|
|
$ |
24.9 |
|
|
$ |
(4.3) |
|
|
$ |
59.2 |
|
|
$ |
(9.7) |
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Earnings (loss) per share |
|
|
|
|
|
|
|
|
|
| ||||||||||
Basic |
|
$ |
0.16 |
|
|
$ |
0.26 |
|
|
$ |
(0.05) |
|
|
$ |
0.63 |
|
|
$ |
(0.10) |
|
Diluted |
|
$ |
0.15 |
|
|
$ |
0.26 |
|
|
$ |
(0.05) |
|
|
$ |
0.62 |
|
|
$ |
(0.10) |
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Weighted-average common shares outstanding |
|
|
|
|
|
|
|
|
|
| ||||||||||
Basic |
|
94.5 |
|
|
94.0 |
|
|
93.1 |
|
|
94.1 |
|
|
92.7 |
| |||||
Diluted |
|
96.4 |
|
|
95.3 |
|
|
93.1 |
|
|
95.6 |
|
|
92.7 |
|