Exar
GAAP to Non-GAAP Reconciliation of Results (1/2)
29
3/11/09
Number of Months Ended >>>
9-MTHS
(In thousands, except per share amounts)
Mar 31, 07
Jun 30, 07
Mar 30, 07
Dec, 07
Mar 30, 08
JUN 29 08
Sep 28, 08
Dec 28, 08
Mar 31, 07
Mar 30, 08
Mar 30, 08
Net Sales
15,660
$
17,101
$
19,173
$
25,207
$
28,262
$
32,211
$
32,748
$
26,305
$
68,502
$
89,743
$
91,264
$
GAAP gross margin $
10,330
$
11,357
$
10,484
$
7,567
$
10,705
$
14,470
$
15,005
$
10,704
$
46,534
$
40,112
$
40,179
$
Stock-based compensation
14
28
106
361
128
192
174
118
91
623
484
Amortization of acquired intangible assets
240
240
1,158
2,539
1,515
955
955
783
960
5,452
2,693
Fair value adjustment of acquired inventories
-
-
341
1,458
432
-
-
-
-
2,231
-
Merger-related costs
-
-
16
-
36
115
-
-
-
52
115
Acceleration of depreciation on abandoned equipment
-
-
-
-
-
-
-
300
-
-
300
Non-GAAP gross margin $
10,584
$
11,625
$
12,105
$
11,925
$
12,816
$
15,732
$
16,134
$
11,905
$
47,585
$
48,470
$
43,771
$
GAAP gross margin %
66.0%
66.4%
54.7%
30.0%
37.9%
44.9%
45.8%
40.7%
67.9%
44.7%
44.0%
Stock-based compensation
0.1%
0.2%
0.6%
1.4%
0.5%
0.6%
0.5%
0.5%
0.1%
0.7%
0.5%
Amortization of acquired intangible assets
1.5%
1.4%
6.0%
10.1%
5.4%
3.0%
2.9%
3.0%
1.4%
6.1%
3.0%
Fair value adjustment of acquired inventories
-
-
1.8%
5.8%
1.5%
-
-
-
-
2.5%
-
Merger-related costs
-
-
-
-
0.1%
0.4%
-
-
-
0.1%
0.1%
Acceleration of depreciation on abandoned equipment
-
-
-
-
-
-
-
1.1%
-
-
0.3%
Non-GAAP gross margin %
67.6%
68.0%
63.1%
47.3%
45.3%
48.8%
49.3%
45.3%
69.5%
54.0%
48.0%
GAAP research and development expenses
6,325
$
6,058
$
7,452
$
8,890
$
8,259
$
8,092
$
8,133
$
8,092
$
25,838
$
30,660
$
24,317
$
Stock-based compensation
218
224
324
389
270
358
481
392
1,181
1,207
1,231
Amortization of acquired intangible assets
-
-
-
-
-
263
263
200
-
-
726
Merger-related costs
-
-
253
9
131
-
-
-
-
393
-
Acceleration of depreciation on abandoned equipment
-
-
-
-
-
-
-
437
-
-
437
Non-GAAP research and development expenses
6,107
$
5,834
$
6,875
$
8,492
$
7,858
$
7,471
$
7,389
$
7,063
$
24,657
$
29,060
$
21,923
$
GAAP selling, general and administrative expenses
6,834
$
5,531
$
8,503
$
12,071
$
11,793
$
11,301
$
9,746
$
9,099
$
24,925
$
37,899
$
30,146
$
Stock-based compensation
831
509
938
1,035
884
809
435
768
3,077
3,366
2,012
Amortization of acquired intangible assets
-
-
196
474
266
162
162
122
-
936
446
Merger-related costs
-
-
766
509
717
541
-
-
-
1,992
541
Separation costs of executive officers
985
-
-
465
-
-
-
-
1,649
465
-
Acceleration of depreciation on abandoned equipment
-
-
-
-
-
-
-
437
-
-
437
Non-GAAP selling, general and administrative expenses
5,018
$
5,022
$
6,603
$
9,588
$
9,926
$
9,789
$
9,149
$
7,772
$
20,199
$
31,140
$
26,710
$
GAAP operating expenses
13,159
$
11,589
$
24,755
$
20,961
$
185,243
$
19,393
$
17,879
$
76,867
$
50,763
$
242,550
$
114,139
$
Stock-based compensation
1,049
733
1,262
1,424
1,154
1,167
916
1,160
4,258
4,573
3,243
Amortization of acquired intangible assets
-
-
196
474
266
425
425
322
-
936
1,172
Acquired in-process research and development
-
-
8,800
-
-
-
-
-
-
8,800
-
Merger-related costs
-
-
1,019
518
848
541
-
-
-
2,385
541
Separation costs of executive officers
985
-
-
465
-
-
-
-
1,649
465
-
Acceleration of depreciation on abandoned equipment
-
-
-
-
-
-
-
874
-
-
874
Goodwill and other intangible asset impairment
-
-
-
-
165,191
-
-
59,676
-
165,191
59,676
Non-GAAP operating expenses
11,125
$
10,856
$
13,478
$
18,080
$
17,784
$
17,260
$
16,538
$
14,835
$
44,856
$
60,200
$
48,633
$
GAAP operating income (loss)
(2,829)
$
(232)
$
(14,271)
$
(13,394)
$
(174,538)
$
(4,923)
$
(2,874)
$
(66,163)
$
(4,229)
$
(202,438)
$
(73,960)
$
Stock-based compensation
1,063
761
1,368
1,785
1,282
1,359
1,090
1,278
4,349
5,196
3,727
Amortization of acquired intangible assets
240
240
1,354
3,013
1,781
1,380
1,380
1,105
960
6,388
3,865
Fair value adjustment of acquired inventories
-
-
341
1,458
432
-
-
-
-
2,231
-
Acquired in-process research and development
-
-
8,800
-
-
-
-
-
-
8,800
-
Merger-related costs
-
-
1,035
518
884
656
-
-
-
2,437
656
Separation costs of executive officers
985
-
-
465
-
-
-
-
1,649
465
-
Acceleration of depreciation on abandoned equipment
-
-
-
-
-
-
-
1,174
-
-
1,174
Goodwill and other intangible asset impairment
-
-
-
-
165,191
-
-
59,676
-
165,191
59,676
Non-GAAP operating income (loss)
(541)
$
769
$
(1,373)
$
(6,155)
$
(4,968)
$
(1,528)
$
(404)
$
(2,930)
$
2,729
$
(11,730)
$
(4,862)
$
Notes: Certain amounts may not total due to rounding.
Certain
amounts
previously
reported
above
have
been
reclassified
to
conform
to
the
current
periods'
presentation.
EXAR CORPORATION AND SUBSIDIARIES (Unaudited)
12-MTHS
3-MTHS
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