PDF Solutions Reports Fourth Fiscal Quarter and Fiscal Year 2018 Results

 

PDF SOLUTIONS, INC. 
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) 
(In thousands, except per share amounts) 
               
  Three months ended   Year ended  
  December 31,  September 30,  December 31,  December 31,   December 31,
  2018   2018   2017   2018
  2017
               
               
Revenues:              
Design-to-silicon-yield solutions $  12,650  $  13,976  $  19,010  $  60,081  $  74,436 
Gainshare performance incentives    7,075     6,237     7,766     25,713     27,435 
Total revenues    19,725     20,213     26,776     85,794     101,871 
               
Costs of Design-to-silicon-yield solutions:              
Direct costs of Design-to-silicon-yield solutions    9,577   10,539   12,137     42,228     47,050 
Amortization of acquired technology    144         144         144         575         471  
Total costs of Design-to-silicon-yield solutions     9,721         10,683         12,281         42,803       47,521  
Gross profit      10,004       9,530       14,495         42,991       54,350  
                             
Operating expenses:                            
Research and development      6,898         6,755         7,646         27,998         30,078  
Selling, general and administrative      6,133         5,507         5,909         23,934         23,684  
Amortization of other acquired intangible assets      109         108         107         435         398  
Restructuring charges     576        —         —          576        —   
Total operating expenses      13,716         12,370         13,662         52,943       54,160  
                             
Income (loss) from operations      (3,712 )     (2,840 )     833         (9,952 )     190  
Interest and other income (expense), net      210       223       42         493         (264 )
Income (loss) before income taxes      (3,502 )       (2,617 )       875         (9,459 )     (74 )
Income tax provision (benefit)     (388 )       (535 )       3,509         (1,743 )       1,263  
Net loss $   (3,114 )   $   (2,082 )   $   (2,634 )   $   (7,716 )   $   (1,337 )
                             
Net loss per share:                             
Basic  $   (0.10 )    $    (0.06 )   $   (0.08 )   $   (0.24 )   $   (0.04 )
Diluted  $   (0.10 )    $    (0.06 )   $   (0.08 )   $   (0.24 )   $   (0.04 )
                             
Weighted average common shares:                            
Basic      32,306       32,184       31,971         32,169       32,038  
Diluted      32,306       32,184       31,971         32,169       32,038  
                             

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