Applied Micro Circuits Corporation Reports Third Quarter Fiscal 2016 Financial Results


APPLIED MICRO CIRCUITS CORPORATION
RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET LOSS
(in thousands, except per share data)
(unaudited)
            
 Three Months Ended  Nine Months Ended
 December 31, September 30,  December 31,  December 31, December 31,
  2015   2015    2014    2015   2014 
            
GAAP net loss$  (8,199) $  (8,061)  $  (12,131)  $  (23,664) $  (36,913)
Adjustments:           
Stock-based compensation expense   6,141     5,934      4,857      18,167     14,303 
Amortization of purchased intangible assets   -     -      -      -     105 
Veloce acquisition consideration   -     -      -       -     7,140 
Restructuring   (29)    15      221      82     1,322 
Impairment of a strategic investment   -     -      -      -     2,500 
Reversals of impairment charges upon sales of marketable securities     -         (267 )         (129 )         (1,694 )       (158 )
Income tax effect on non-GAAP adjustments     (30 )       (25 )         62           (677 )       (307 )
Total GAAP to non-GAAP adjustments     6,082         5,657           5,011           15,878         24,905  
Non-GAAP net loss $   (2,117 )   $   (2,404 )     $   (7,120 )     $   (7,786 )   $   (12,008 )
                       
Diluted non-GAAP net loss per share $   (0.03 )   $   (0.03 )     $   (0.09 )     $   (0.09 )   $   (0.15 )
                       
Shares used in calculating diluted non-GAAP net loss per share      83,191         82,176           78,920           82,186         78,442  
                       
Diluted net loss per share:                      
GAAP diluted net loss per share $   (0.10 )   $   (0.10 )     $   (0.15 )     $   (0.29 )   $   (0.47 )
GAAP to non-GAAP adjustments   0.07       0.07         0.06         0.19       0.32  
Non-GAAP diluted net loss per share $   (0.03 )   $   (0.03 )     $   (0.09 )     $   (0.09 )   $   (0.15 )
                       
Reconciliation of shares used in calculating non-GAAP net loss per share:                      
Shares used in calculating the basic net loss per share     83,191         82,176           78,920           82,186         78,442  
Adjustment for dilutive securities     -         -           -           -         -  
Shares used in calculating diluted non-GAAP net loss per share     83,191         82,176           78,920           82,186         78,442  
                       

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