PDF Solutions® Reports Third Fiscal Quarter Results

 

PDF SOLUTIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except per share amounts)

   Three months ended   Nine months ended 
   September 30,   June 30,   September 30,   September 30,   September 30, 
   2019   2019   2018   2019   2018 
                     
Revenues:                    
Solutions $16,208  $13,429  $13,976  $46,298  $47,431 
Gainshare performance incentives  5,706   7,139   6,237   16,725   18,638 
Total revenues  21,914   20,568   20,213   63,023    66,069  
                                         
Cost of Solutions:                                        
Direct costs of solutions     8,571       7,689       10,539       23,984       32,651  
Amortization of acquired technology     144       143       144       431       431  
Total cost of solutions     8,715       7,832       10,683       24,415       33,082  
Gross profit     13,199       12,736       9,530       38,608       32,987  
                                         
Operating expenses:                                        
Research and development     8,435       7,312       6,755       23,993       21,100  
Selling, general and administrative     5,990       6,940       5,507       19,940       17,801  
Amortization of other acquired intangible assets     174       154       108       436       326  
Restructuring charges                       92        
Total operating expenses     14,599       14,406       12,370       44,461       39,227  
                                         
Loss from operations     (1,400 )     (1,670 )     (2,840 )     (5,853 )     (6,240 )
Interest and other income (expense), net     202       111       223       307       283  
Loss before income taxes     (1,198 )     (1,559 )     (2,617 )     (5,546 )     (5,957 )
Income tax benefit     (511 )     (849 )     (535 )     (1,458 )     (1,355 )
Net loss   $ (687 )   $ (710 )   $ (2,082 )   $ (4,088 )   $ (4,602 )
                                         
Net loss per share:                                        
Basic   $ (0.02 )   $ (0.02 )   $ (0.06 )   $ (0.13 )   $ (0.14 )
Diluted   $ (0.02 )   $ (0.02 )   $ (0.06 )   $ (0.13 )   $ (0.14 )
                                         
Weighted average common shares:                                        
Basic     32,392       32,339       32,184       32,405       32,105  
Diluted     32,392       32,339       32,184       32,405       32,105  

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