Our earnings release contains a forward looking estimate of non-GAAP diluted earnings per share for the second quarter of our 2013 fiscal year ("Q2 2013"). We provide this non-GAAP measure to investors on a prospective basis for the same reasons (set forth above) that we provide them to investors on a historical basis. We are unable to provide a reconciliation of our forward looking estimate of Q2 2013 non-GAAP diluted earnings per share to a forward looking estimate of Q2 2013 GAAP diluted earnings per share because certain information needed to make a reasonable forward looking estimate of GAAP diluted earnings per share for Q2 2013 (other than estimated stock compensation expense of $0.10 per diluted share, certain tax items of $0.05 per diluted share, estimated acquisition related expense of $0.04 per diluted share, restructuring and other charges of $0.01 per diluted share and estimated deferred executive compensation expense with a de minimis impact on diluted earnings per share) is difficult to predict and estimate and is often dependent on future events which may be uncertain or outside of our control. Such events may include unanticipated one time charges related to asset impairments (fixed assets, intangibles or goodwill), unanticipated acquisition related costs, unanticipated litigation settlement gains and losses and other unanticipated non-recurring items not reflective of ongoing operations. We believe the probable significance of these unknown items, in aggregate, to be in the range of $0.00 to $0.05 in quarterly earnings per diluted share on a GAAP basis. Our forward looking estimates of both GAAP and non-GAAP measures of our financial performance may differ materially from our actual results and should not be relied upon as statements of fact.
|[a]||These charges represent expense recognized in accordance with ASC 718 - Compensation, Stock Compensation.|
Approximately $2.4 million, $7.4 million and $7.9 million were included in cost of goods sold, research and development expense and selling, general and administrative expense, respectively, for the three months ended December 28, 2012.
For the three months ended December 30, 2011, approximately $2.5 million, $5.6 million and $7.7 million were included in cost of goods sold, research and development expense and selling, general and administrative expense, respectively.
The acquisition-related expense of $0.6 million recognized during the three months ended December 28, 2012 primarily relates to general and administrative expenses associated with acquisitions.
The acquisition-related expense recognized during the three months ended December 30, 2011 includes a $0.1 million charge to cost of sales related to the sale of acquired inventory. Also included in acquisition-related expense is $7.2 million in transaction costs included in general and administrative expense associated with acquisitions, and an arbitration, completed or contemplated during the three months ended December 30, 2011.
During the three months ended December 28, 2012, the Company implemented a restructuring plan to reduce headcount primarily associated with its front end-solutions team. A $1.6 million charge to restructuring was recorded during the three months ended December 28, 2012 related to this plan.
During the fiscal year ended September 30, 2011, the Company implemented a restructuring plan to reduce headcount associated with its acquisition of SiGe Semiconductor, Inc. A $0.7 million charge to restructuring was recorded during the three months ended December 30, 2011 related to this plan.
The gain recorded during the three months ended December 30, 2011 relates to the early retirement of $9.4 million of the Company's 1.50% convertible subordinated notes due on March 1, 2012.
These charges represent the amortization expense recognized in accordance with ASC 470-20. Approximately $0.4 million of amortization expense was recognized during the three months ended December 30, 2011.
During the three months ended December 28, 2012, these amounts primarily represent the utilization of net operating loss and research and development tax credit carryforwards and non-cash expense related to uncertain tax positions.
During the three months ended December 30, 2011, these amounts primarily represent the utilization of research and development tax credit carryforwards and non-cash expense related to uncertain tax positions.
|SKYWORKS SOLUTIONS, INC.|
|UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET|
|Dec. 28,||Sept. 28,|
|Cash and cash equivalents||$||378,355||$||307,110|
|Accounts receivable, net||252,149||297,589|
|Other current assets||39,515||45,744|
|Property, plant and equipment, net||287,253||279,383|
|Goodwill and intangible assets, net||886,367||894,523|
|Liabilities and Equity|
|Accrued and other current liabilities||44,326||42,121|
|Other long-term liabilities||51,450||48,467|
|Total liabilities and equity||$||2,151,107||$||2,136,646|
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