Maxim Integrated Reports Results For The First Quarter Of Fiscal 2014

 

 


ANALYSIS OF GAAP VERSUS GAAP EXCLUDING SPECIAL EXPENSE ITEMS DISCLOSURES



(Unaudited)





Three Months Ended





September 28,


June 29,


September 29,





2013


2013


2012





(in thousands, except per share data)



Reconciliation of GAAP gross profit to GAAP gross profit excluding special items:









GAAP gross profit


$        347,196


$ 371,399


$        385,691



GAAP gross profit %


59.3%


61.1%


61.9%












Special expense items:









      Intangible asset amortization


8,092


7,777


9,454



                     Total special expense items


8,092


7,777


9,454



 GAAP gross profit excluding special expense items 


$        355,288


$ 379,176


$        395,145



 GAAP gross profit % excluding special expense items 


60.7%


62.3%


63.4%












Reconciliation of GAAP operating expenses to GAAP operating expenses excluding special items:









GAAP operating expenses


$        218,587


$ 220,309


$        220,288












Special expense (income) items:









      Intangible asset amortization


3,436


3,670


4,049



      Impairment of long-lived assets 


-


-


2,707



     Severance and restructuring (1) 


5,547


442


-



     Other operating expenses (income), net (2) 


2,272


2,105


415



                     Total special expense items


11,255


6,217


7,171



 GAAP operating expenses excluding special expense items 


$        207,332


$ 214,092


$        213,117












Reconciliation of GAAP net income to GAAP net income excluding special items:









GAAP net income


$        103,120


$ 119,014


$        127,888












Special expense (income) items:









      Intangible asset amortization


11,528


11,447


13,503



      Impairment of long-lived assets 


-


-


2,707



     Severance and restructuring (1) 


5,547


442


-



     Other operating expenses (income) , net (2) 


2,272


2,105


415



     Interest and other expense, net (3) 


-


700


-



                     Pre-tax total special expense items 


19,347


14,694


16,625



     Tax effect of special items 


(2,981)


(4,231)


(5,371)



 GAAP net income excluding special expense items 


$        119,486


$ 129,477


$        139,142












 GAAP net income per share excluding special expense items: 









    Basic 


$          0.42


$   0.45


$          0.48



    Diluted 


$          0.41


$   0.44


$          0.47












Shares used in the calculation of earnings per share excluding special expense items: 







    Basic


284,654


290,146


292,213



    Diluted 


290,260


296,756


298,782












(1) Includes severance charges associated with the reorganization of various business units and manufacturing operations.


(2) Other operating expenses (income), net are primarily for  certain payroll taxes, contingent consideration adjustments related to certain acquisitions, loss (gain) relating to sale of land and buildings, acquisition related expenses and  loss on lease abandonment.


(3) Includes impairment of investment in a privately held company.





« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article
Featured Video
Jobs
Tooling Engineer) for Honda Mfg of Indiana, LLC at Greensburg, Indiana
Manufacturing Engineering Technician for Dexter at Elkhart, Indiana
Electrical Engineering Design Release Engineer for Fiat Chrysler Automobiles at Auburn Hills, Michigan
Electrical Engineer – Controls for Fiat Chrysler Automobiles at Dundee, Michigan
Mechanical Designer for BRP at Sturtevant, Wisconsin
Technical Marketing Engineer - PLM for Mentor Graphics at Novi, Michigan
Upcoming Events
AI Innovation Summit 2019 at Chicago IL - May 16 - 17, 2019
PRINT 3D! Open House at W189N11161 Klienmann Drive Germantown WI - May 16, 2019
Machine Learning Innovation Summit 2019 at Chicago IL - May 16 - 17, 2019
ESPRIT World 2019 at 225 East Coastline Drive Jacksonville FL - Jun 3 - 7, 2019
Kenesto: 30 day trial
Tebis



Internet Business Systems © 2019 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise