PDF Solutions® Reports Fourth Fiscal Quarter and Fiscal Year 2017 Results

 

PDF SOLUTIONS, INC.                
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)         
(In thousands, except per share amounts)                
                 
    Three months ended   Twelve months ended
    December 31,  September 30,  December 31,   December 31,  December 31,
    2017   2017   2016   2017  2016 
                 
Revenues:                
Design-to-silicon-yield solutions   $  19,010  $  19,229  $  19,458 $  74,436  $  77,162 
Gainshare performance incentives      7,766     7,288     8,975    27,435     30,299 
Total revenues    26,776   26,517   28,433  101,871   107,461 
                 
Costs of Design-to-silicon-yield solutions:                  
Direct costs of Design-to-silicon-yield solutions        12,137       12,295       12,040     47,050         44,074  
Amortization of acquired technology         144         136       96       471         374  
Total costs of Design-to-silicon-yield solutions       12,281       12,431       12,136     47,521       44,448  
Gross profit        14,495       14,086       16,297     54,350       63,013  
                                 
Operating expenses:                                
Research and development          7,646         7,875         7,171       30,078       27,559  
Selling, general and administrative          5,909         5,680         6,290       23,684       22,056  
Amortization of other acquired intangible assets          107         107         92       398         432  
Total operating expenses        13,662       13,662       13,553     54,160       50,047  
                                 
Income from operations        833       424       2,744     190       12,966  
Interest and other income (expense), net        42       (104 )     378     (264 )     (10 )
Income (loss) before income taxes        875       320       3,122     (74 )     12,956  
Income tax provision (benefit)         3,509         (270 )       197       1,263         3,853  
Net income (loss)     $   (2,634 )   $   590     $   2,925   $   (1,337 )   $   9,103  
                                 
Net income (loss) per share:                                 
Basic      $   (0.08 )    $    0.02     $   0.09   $   (0.04 )   $   0.29  
Diluted      $   (0.08 )    $    0.02     $   0.09   $   (0.04 )   $   0.28  
                                 
Weighted average common shares:                                
Basic        31,971       32,078       31,636     32,038       31,373  
Diluted        31,971       32,969       33,293     32,038       32,431  
                                 

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