- The company reported net revenue of $566 million for the fourth quarter of fiscal year 2016, gross margin of 64.1% excluding special items and 61.3% under GAAP, and earnings per share of $0.49 excluding special items and $0.32 under GAAP.
- For fiscal year 2017 first quarter guidance, the company expects revenue between $540-580 million, gross margin between 63-65% excluding special items and 61-63% under GAAP, and earnings per share between $0.44-0.50 excluding special items and $0.40-0.46 under GAAP.
- The document also provides details on results by end market, comparison to prior year
Prezentacja przedstawiona przeze mnie i Macieja Grelę w 2016 roku na XIX Międzynarodowej Konferencji Naukowej Techniczne Aspekty Przestępczości Teleinformatycznej (TAPT) organizowanej przez Wyższą Szkołę Policji w Szczytnie.
W dodatku edukacyjnym "Tajniki AF cz. 14 - Kreatywna księgowość, arkusz kalkulacyjny który pokazuje, w jaki sposób tworzy się wyceny spółek i ich akcji.
Prezentacja przedstawia działania, jakie można podjąć w programie Erasmus+ Sport. Pokaz przygotowany został na Ogólnopolski Dzień Informacyjny Programu Erasmus+ (19 stycznia 2016 r.)
Wrocław Rozmawia nr.1 : Zgłoś projekt do WBO 2017Wroclaw
Dziś z darmowym wydaniem Wrocław Naszemiato.pl dołączony jest pierwszy numer gazetki Wrocław Rozmawia. Numer w całości poświęcony jest nowej edycji Wrocławskiego Budżetu Obywatelskiego.
Szara strefa w polsce i w wybranych branżachEYPoland
Doradcy EY pomagają walczyć z przestępczością gospodarczą w Polsce działając m.in. na rzecz zmniejszania szarej strefy. Dzięki naszym działaniom dla branż stalowej, paliwowej czy metali nieżelaznych budżet państwa zyskał setki milionów złotych.
SGS 2021 Full Year Results Alternative Performance MeasuresSGS
We've delivered a strong financial performance in 2021, making significant progress on our new strategic plan.
#SGS #SGSGroup #WeAreSGS #FinancialResults
SGS 2022 Full Year Results Alternative Performance Measures ReportSGS
This document presents and defines the Group’s alternative performance measures (APMs), not defined by IFRS which are used
to evaluate financial and operational performance. Where relevant, a reconciliation to the information included in our IFRS consolidated
financial statements is presented. Management deems these performance measures as a useful source of information when taking
strategic decisions and managing the operations. These APMs are disclosed in the annual report, the half year report and other external
communications to investors, as well as available under: www.sgs.com/en/our-company/investor-relations/reports-and-presentations
2. Safe Harbor
2
This presentation contains forward-looking statements within the meaning of Section 27A of the
Securities act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements include, without limitation, the Company’s projections and statements
regarding revenue, gross margin, earnings per share, capital expenditures and other financial and business
metrics. These statements involve risks and uncertainties that could cause actual results to differ
materially from expectations. Please refer to the Company’s Annual Report on Form 10-K for the fiscal
year ended June 27, 2015 for a description of some of the risk factors that could cause actual results to
differ materially from such forward-looking statements.
All forward-looking statements included in this presentation are made as of the date hereof, based on the
information available to the Company as of the date hereof, and the Company assumes no obligation to
update any forward-looking statement.
3. Fiscal 2016 Fourth Quarter Results Summary
• Net Revenue of $566 million
• Gross Margin of 64.1% (excluding special items); 61.3% (GAAP)
• Earnings Per Share of $0.49 profit (excluding special items); $0.32 profit (GAAP)
• Returned $176 million to shareholders
• Dividend payout: $85 million
• Stock repurchases: $90 million
• TTM1 Free Cash Flow of $738 million, 34% of TTM revenue
3
1TTM: Trailing Twelve Months
Note: Free Cash Flow = Cash Flow from Operations – Net Capital Expenditures
Net Capital Expenditures = Gross Capital Expenditures – Asset Sales
5. $647M
$738M
Fiscal 2016 Fourth Quarter Results vs. Last Year
5
$583M $566M
-3%
FY15 Q4 FY16 Q4
Revenue
$0.44
$0.49
+11%
FY15 Q4 FY16 Q4
Earnings per Share
(Excluding Special Items2)
TTM1 Free Cash Flow3
1TTM: Trailing Twelve Months
2Special Items definition in appendix
3Free Cash Flow: Cash Flow from Operations – Net Capital Expenditures
Net Capital Expenditures: Gross Capital Expenditures – Asset Sales
FY15 Q4 FY16 Q4
+14%
6. Automotive Industrial Comms &
Data Center
Consumer Computing
-6%
FY15 Q4 vs. FY16 Q4 Revenue
-24%
-13%
-4%
Fiscal 2016 Fourth Quarter Results by End Market
6
+30%
19%
27%
21%
29%
4%
FY16 Q4 Revenue: $566M
Consumer
Automotive
Industrial
Communications &
Data Center
Computing
Note: Due to nature of our general purpose products, estimates by Major Markets are imprecise
7. Fiscal 2017 First Quarter Guidance
FY17 Q1 Guidance
Revenue $540M – $580M
Gross Margin
63% – 65% GAAP excl. Special Items2
(61% – 63% GAAP)
Earnings Per
Share
$0.44 – $0.50 GAAP excl. Special Items1
($0.40 – $0.46 GAAP)
Gross Capital
Expenditures
Target range
of 1 – 3% of revenue
7
1Special Items definition in Appendix
Note: Maxim Integrated’s business outlook does not include the potential impact of any restructuring activity, acquisitions, or other business combinations that
may be completed during the quarter.
FY17 Q1 End Market Guidance vs. FY16 Q4
Automotive: Down
Industrial: Down
Communications and Data Center: Slightly up
Consumer: Flat
Computing: Up
11. Gross CapEx
Target:
1 to 3%
of Revenue
0%
2%
4%
6%
8%
10%
12%
14%
16%
FY11
Q4
FY12
Q4
FY13
Q4
FY14
Q4
FY15
Q4
FY16
Q4
Accelerated Depreciation
Depreciation
Gross Capital Expenditures
Capital Expenditures vs. Depreciation (excluding Special Items)
11
% of Revenue
Accelerated Depreciation
12. $0.20
$0.22
$0.24
$0.26
$0.28
$0.30
$0.32
FY11 Q1 FY13 Q1 FY15Q1 FY17 Q1
Quarterly Cash Dividend Per Share
12
$0
$50
$100
$150
$200
$250
FY10 Q4 FY12 Q4 FY14 Q4 FY16 Q4
Dividends & Share Repurchases
Dividend
Return of Cash to Shareholders
Buyback
+5%
+9%
+8%
+8%
$330M remaining in share repurchase
program as of FY16 Q4 end
$0.33
+7%
+10%
13.
14. 14
Appendix
2Special Items: intangible asset amortization; accelerated depreciation; acquisition-related inventory write-up; impairment of long-lived assets;
impairment of goodwill and intangible assets; severance and restructuring; acquisition-related costs; contingent consideration adjustments
relating to certain acquisitions; expected loss on rent expense for vacated office space; loss related to sale of land and buildings; impairment of
investments in privately-held companies; tax provision impacts due to fixed asset tax basis adjustment relating to prior year depreciation
expense.
15. Reconciliation of GAAP vs. GAAP Excluding Special Items (Unaudited)
15
June 25, March 26, June 27, June 25, June 27,
2016 2016 2015 2016 2015
Reconciliation of GAAP gross profit to GAAP gross profit excluding special
items:
GAAP gross profit 347,027$ 318,841$ 303,701$ 1,244,388$ 1,271,867$
GAAP gross profit % 61.3% 57.4% 52.1% 56.7% 55.1%
Special items:
Intangible asset amortization 11,829 11,829 18,116 55,030 74,366
Accelerated depreciation (1) 4,098 4,066 32,765 53,827 51,494
Other cost of goods sold (2) - 6,123 - 6,123 -
Total special items 15,927 22,018 50,881 114,980 125,860
GAAP gross profit excluding special items 362,954$ 340,859$ 354,582$ 1,359,368$ 1,397,727$
GAAP gross profit % excluding special items 64.1% 61.4% 60.9% 61.9% 60.6%
Reconciliation of GAAP operating expenses to GAAP operating expenses
excluding special items:
GAAP operating expenses 224,654$ 141,133$ 208,753$ 930,539$ 1,034,587$
Special items:
Intangible asset amortization 2,538 2,538 3,618 12,205 16,077
Impairment of long-lived assets (3) 429 506 549 160,582 67,042
Impairment of goodwill and intangible assets 27,602 - - 27,602 93,010
Severance and restructuring 4,149 2,552 12,798 24,479 30,642
Other operating expenses (income), net (4) 4,962 (55,419) (2,296) (50,389) (2,021)
Total special items 39,680 (49,823) 14,669 174,479 204,750
GAAP operating expenses excluding special items 184,974$ 190,956$ 194,084$ 756,060$ 829,837$
Reconciliation of GAAP net income to GAAP net income excluding special items:
GAAP net income (loss) 92,339$ 139,810$ 98,659$ 227,475$ 206,038$
Special items:
Intangible asset amortization 14,367 14,367 21,734 67,235 90,443
Accelerated depreciation (1) 4,098 4,066 32,765 53,827 51,494
Other cost of goods sold (2) - 6,123 - 6,123 -
Impairment of long-lived assets (3) 429 506 549 160,582 67,042
Impairment of goodwill and intangible assets 27,602 - - 27,602 93,010
Severance and restructuring 4,149 2,552 12,798 24,479 30,642
Other operating expenses (income), net (4) 4,962 (55,419) (2,296) (50,389) (2,021)
Interest and other expense (income), net (5) (247) (45) (35,849) 194 (36,066)
Pre-taxtotal special items 55,360 (27,850) 29,701 289,653 294,544
Reversal of taxreserves (6) - - - - (21,747)
Fiscal year 2015 & 2014 research & development taxcredits - - - (2,475) (2,863)
Other income taxeffects and adjustments (7) (7,228) 5,698 (4,267) (43,392) (35,333)
GAAP net income excluding special items 140,471$ 117,658$ 124,093$ 471,261$ 440,639$
GAAP net income per share excluding special items:
Basic $ 0.49 $ 0.41 $ 0.44 $ 1.65 $ 1.55
Diluted $ 0.49 $ 0.41 $ 0.43 $ 1.63 $ 1.52
Shares used in the calculation of earnings per share excluding special items:
Basic 284,354 285,854 284,202 285,081 283,675
Diluted 288,544 289,783 289,346 289,479 288,949
(2) Includes expense related to patent license settlement.
ANALYSIS OF GAAP VERSUS GAAP EXCLUDING SPECIAL ITEMS DISCLOSURES
(Unaudited)
(in thousands, except per share data)
Three Months Ended
(3) Includes impairment charges relating to the San Antonio wafer manufacturing facility and other wafer manufacturing equipment, end of line test equipment, and software.
Year Ended
(1) Includes building and equipment accelerated depreciation related to San Jose and Dallas manufacturing facilities.
GAAP gross profit 347,027$ 318,841$ 303,701$ 1,244,388$ 1,271,867$
GAAP gross profit % 61.3% 57.4% 52.1% 56.7% 55.1%
Special items:
Intangible asset amortization 11,829 11,829 18,116 55,030 74,366
Accelerated depreciation (1) 4,098 4,066 32,765 53,827 51,494
Other cost of goods sold (2) - 6,123 - 6,123 -
Total special items 15,927 22,018 50,881 114,980 125,860
GAAP gross profit excluding special items 362,954$ 340,859$ 354,582$ 1,359,368$ 1,397,727$
GAAP gross profit % excluding special items 64.1% 61.4% 60.9% 61.9% 60.6%
Reconciliation of GAAP operating expenses to GAAP operating expenses
excluding special items:
GAAP operating expenses 224,654$ 141,133$ 208,753$ 930,539$ 1,034,587$
Special items:
Intangible asset amortization 2,538 2,538 3,618 12,205 16,077
Impairment of long-lived assets (3) 429 506 549 160,582 67,042
Impairment of goodwill and intangible assets 27,602 - - 27,602 93,010
Severance and restructuring 4,149 2,552 12,798 24,479 30,642
Other operating expenses (income), net (4) 4,962 (55,419) (2,296) (50,389) (2,021)
Total special items 39,680 (49,823) 14,669 174,479 204,750
GAAP operating expenses excluding special items 184,974$ 190,956$ 194,084$ 756,060$ 829,837$
Reconciliation of GAAP net income to GAAP net income excluding special items:
GAAP net income (loss) 92,339$ 139,810$ 98,659$ 227,475$ 206,038$
Special items:
Intangible asset amortization 14,367 14,367 21,734 67,235 90,443
Accelerated depreciation (1) 4,098 4,066 32,765 53,827 51,494
Other cost of goods sold (2) - 6,123 - 6,123 -
Impairment of long-lived assets (3) 429 506 549 160,582 67,042
Impairment of goodwill and intangible assets 27,602 - - 27,602 93,010
Severance and restructuring 4,149 2,552 12,798 24,479 30,642
Other operating expenses (income), net (4) 4,962 (55,419) (2,296) (50,389) (2,021)
Interest and other expense (income), net (5) (247) (45) (35,849) 194 (36,066)
Pre-taxtotal special items 55,360 (27,850) 29,701 289,653 294,544
Reversal of taxreserves (6) - - - - (21,747)
Fiscal year 2015 & 2014 research & development taxcredits - - - (2,475) (2,863)
Other income taxeffects and adjustments (7) (7,228) 5,698 (4,267) (43,392) (35,333)
GAAP net income excluding special items 140,471$ 117,658$ 124,093$ 471,261$ 440,639$
GAAP net income per share excluding special items:
Basic $ 0.49 $ 0.41 $ 0.44 $ 1.65 $ 1.55
Diluted $ 0.49 $ 0.41 $ 0.43 $ 1.63 $ 1.52
Shares used in the calculation of earnings per share excluding special items:
Basic 284,354 285,854 284,202 285,081 283,675
Diluted 288,544 289,783 289,346 289,479 288,949
(2) Includes expense related to patent license settlement.
(7) Includes taxeffect of pre-taxspecial items and miscellaneous taxadjustments.
(4) Includes gain on sale of energy metering business during the third quarter of fiscal year 2016, loss (gain) relating to sale of assets, and expected loss on lease abandonment.
(3) Includes impairment charges relating to the San Antonio wafer manufacturing facility and other wafer manufacturing equipment, end of line test equipment, and software.
(1) Includes building and equipment accelerated depreciation related to San Jose and Dallas manufacturing facilities.
(5) Includes sale of a business and impairment of investment in privately-held companies.
(6) Reversal of taxreserves related to the favorable settlement of a foreign taxissue.