Reconciliation of Non-GAAP Financial Measures
In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, we are presenting the most directly comparable GAAP financial measures and reconciling the non-GAAP financial metrics to the comparable GAAP measures.
|GT Advanced Technologies Inc.|
|Reconciliation of GAAP to non-GAAP results|
|(In thousands, except per share data)|
|Three Months Ended|
|June 30,||March 31,||July 2,|
|Non-GAAP Net Income & Earnings per Share|
|Amortization of acquired intangible assets||2,547||2,546||1,070|
|Third party acquisition related expenses||246||223||130|
|Non-cash portion of interest expense||238||177||2,214|
|Income tax effect of non-GAAP adjustments (1)||(2,710||)||(2,327||)||(2,489||)|
|Non-GAAP net income||$||19,181||$||83,863||$||56,114|
|Non-GAAP earnings per diluted share ("Non-GAAP EPS")||$||0.16||$||0.69||$||0.44|
|Diluted weighted average shares outstanding||119,379||120,738||128,561|
|(1) The Company utilized the with and without method to determine the income tax effect on non-GAAP adjustments.|
Use of Non-GAAP Financial Measures
In addition to providing financial measurements based on generally accepted accounting principles in the United States of America (GAAP), GT Advanced Technologies is providing additional financial metrics that are not prepared in accordance with GAAP (non-GAAP). We believe that the inclusion of these non-GAAP financial measures helps investors to gain a meaningful understanding of our past performance and future prospects, consistent with how management measures and forecasts company performance, especially when comparing such results to previous periods or forecasts. Our management uses these non-GAAP measures, in addition to GAAP financial measures, as the basis for measuring our core operating performance and comparing our performance to prior periods and to the performance of our competitors. Management also uses these measures in its financial and operational decision-making.
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