RF Micro Devices® Delivers 29% Sequential Growth In December Quarterly Revenue

 

RF MICRO DEVICES, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In thousands, except percentages and per share data)
(Unaudited)



Three Months Ended


December 29,
2012


September 29, 2012


December 31,
2011







GAAP operating income (loss)

$

5,680



$

(10,150)



$

(2,184)


Share-based compensation expense

8,832



9,546



6,409


Amortization of intangible assets

6,456



4,752



4,598


Acquired inventory step-up and revaluation

2,558






Acquisition-related costs and restructuring expenses

2,019






IPR litigation costs

1,173



2,775




Inventory revaluation resulting from transfer of MBE operations



2,436




Other expenses (income) (restructuring, (gain) loss on PP&E, start-up costs and other expenses)

56



(114)



5


 Non-GAAP operating income

26,774



9,245



8,828








GAAP net (loss) income

(1,443)



(16,456)



(9,393)


Share-based compensation expense

8,832



9,546



6,409


Amortization of intangible assets

6,456



4,752



4,598


Acquired inventory step-up and revaluation

2,558






Acquisition-related costs and restructuring expenses

2,019






IPR litigation costs

1,173



2,775




Inventory revaluation resulting from transfer of MBE operations



2,436




Other expenses (income) (restructuring, (gain) loss on PP&E, start-up costs and other expenses)

56



(114)



5


Loss on retirement of convertible subordinated notes



2,034



20


Non-cash interest expense on convertible subordinated notes

1,230



1,457



2,388


Loss (income) from equity investment

8



(10)



(497)


Tax adjustments

391



1,406



1,555








Non-GAAP net income

$

21,280



$

7,826



$

5,085








GAAP weighted average outstanding diluted shares

279,523



278,105



277,192


      Diluted  share-based awards

3,763



3,218



6,726


Non-GAAP weighted average outstanding diluted shares

283,286



281,323



283,918








Non-GAAP net income per share, diluted

$

0.08



$

0.03



$

0.02









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