Six Months Year to Date Fiscal 2013 Financial Highlights:
- Total revenue for the six months ended September 30, 2012, increased 35% year over year to $51.6 million from $38.3 million in the same period of fiscal 2012.
- Overall gross margin for the six months ended September 30, 2012, increased to 67.3%, compared with 66.7% in the same period last year.
- Non-GAAP net income (as outlined in the reconciliation table below) for the six months ended September 30, 2012, was $7.1 million, or $0.10 per diluted share, compared with $3.6 million, or $0.05 per diluted share, for the same period last year.
- GAAP net income for the six months ended September 30, 2012, was $10.4 million, or $0.14 per diluted share, compared with $2.8 million, or $0.04 per diluted share, for the same period last year.
We have provided in this release financial information that has not been prepared in accordance with Generally Accepted Accounting Principles (GAAP). We use these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating our ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors.
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures below. A reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.