Xperi Corporation Announces Third Quarter 2019 Results

SAN JOSE, Calif. — (BUSINESS WIRE) — November 6, 2019 — Xperi Corporation (Nasdaq: XPER) (the “Company” or “we”) today announced financial results for the third quarter ended September 30, 2019.

“We delivered a solid third quarter with a continued focus on operational execution. Billings were at the mid-point of our range, while operating expenses came in lower than anticipated, driving strong operating cash flow performance of $35 million for the quarter and $104 million year-to-date,” said Jon Kirchner, chief executive officer. “As we work to move the business forward, we will continue to focus on clearly differentiated innovation for the home, mobile, and automotive markets.”

Financial Highlights

($ and share count in thousands)

 

   

GAAP

 

 

Non-GAAP

 

   

Q3 2019

 

Q3 2018

 

 

Q3 2019

 

Q3 2018

Billings 1

   

$

90,629

 

$

100,587

 

 

$

90,629

 

$

100,587

Total Operating Expense 2

   

$

83,394

 

$

92,126

 

 

$

50,260

 

$

57,465

Interest Expense 1

   

$

5,506

 

$

6,343

 

 

$

5,506

 

$

6,343

Other Income 2

   

$

429

 

$

1,737

 

 

$

583

 

$

726

Cash Tax (net of refunds) 1

   

$

5,917

 

$

4,462

 

 

$

5,917

 

$

4,462

 

   

 

 

 

 

 

 

 

 

Diluted Shares Outstanding

   

49,459

 

48,958

 

 

52,233

 

51,776


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