Reconciliations of the Company's three months ended June 30, 2011 and the six months ended June 30, 2011 GAAP net revenue, operating expenses, net income and earnings per share to its Non-GAAP pro forma amounts are set forth below (unaudited, in thousands, except per share amounts):
|For the Three Months ended June 30, 2011||For the Six Months ended June 30, 2011|
|Inclusion of Alteris||7,409||13,355|
|Adjustment for change in accounting for percentage of completion revenue recognition||(651)||(1,279)|
|Non-GAAP pro forma net revenue||$26,712||$49,455|
|Inclusion of Alteris||3,966||6,843|
|Inclusion of amortization||40||90|
|Adjustment for reclassification of Alteris expenses previously recorded in cost of goods sold||240||770|
|Non-GAAP pro forma operating expenses||$9,470||$17,890|
|Inclusion of Alteris||(2,055)||(3,465)|
|Pro forma adjustments (1)||1,769||1,597|
|Non-GAAP pro forma net loss||$(1,861)||$(3,406)|
|Weighted average shares outstanding, as reported||19,112||18,714|
|Inclusion of shares issued for Alteris||8,700||8,700|
|Pro forma weighted average shares outstanding||27,812||27,414|
|Earnings per share||$(0.08)||(0.08)|
|Inclusion of Alteris||(0.05)||(0.10)|
|Pro forma adjustments (1)||0.06||0.06|
|Non-GAAP pro forma loss per share||$(0.07)||$(0.12)|
|For the Three Months ended June 30, 2012||For the Six Months ended June 30, 2012|
|Adjustment for safe harbor||1,042||2,125|
|Non-GAAP pro forma net revenue||$22,489||$41,828|
(1) Pro forma adjustments for the three months ended June 30 th 2011 include: $2.0 million for the acquisition costs of Alteris Renewables, Inc.; ($0.2) million due to a change in estimate for contracts recorded under the percentage of completion accounting method; ($0.1) million due to tax benefits.
Pro forma adjustments for the six months ended June 30 th 2011 include: $2.0 million for the acquisition costs of Alteris Renewables, Inc.; ($0.3) million due to a change in estimate for contracts recorded under the percentage of completion accounting method; ($0.1) million due to amortization of intangibles.
CONTACT: Company Contact: John Coletta Chief Financial Officer Real Goods Solar, Inc. Tel (303) 222-8310 firstname.lastname@example.org Investor Relations: Ron Both Liolios Group, Inc. Tel (949) 574-3860 RSOL@liolios.com
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