UCT End Market Update
Reconciliation:
GAAP to Non-GAAP Earnings Per Diluted Share
FY'17
FY'18
FY'19
FY'20
Q1'21
Q2'21
Q3'21
Reported GAAP net income (loss)
$2.19
$0.94
$(0.24) $1.89
1. Amortization of intangible assets related to
the Company's acquisitions of AIT, Thermal,
FDS, QGT and DMS
$0.60
$0.39
$0.70
2. Represents severance, retention and costs
related to facility closures
Amortization of intangible assets (1)
$0.16
$0.25
$0.50
$0.48
$0.12
$0.22
$0.21
3. Represents compensation expense for stock
granted to employees and directors
Restructuring charges (2)
$0.12
$0.42
$0.11
$0.00 $(0.00)
$0.02
4. Represents costs related to acquisitions
Stock based compensation expense
(3)
$0.33
$0.32
$0.10
$0.09
$0.10
5. Represents inventory adjustments related to
end-of-life products
Acquisition related costs*(4)
$0.26
$0.10
$0.02
$0.03
$0.18
$0.00
6. One-time product transition payment
$0.01
7. Represents the loss on disposal of the
Company's 3D printing operations in
Singapore
Inventory adjustments (5)
Product transition fees (6)
Disposal of business unit (7)
Fair value adjustments (8)
$0.02
$0.03
$0.19
$0.19
$0.28
$0.19
$0.05
Depreciation adjustments (9)
$(0.01)
Gain on the sale of property (10)
$(0.03)
Insurance proceeds (11)
$(0.18)
Income tax effect of non-GAAP adjustments (12)
$(0.02)
$(0.12)
$(0.36) $(0.20) $(0.06)
$(0.12)
$(0.06)
Income tax effect of valuation allowance (13)
$0.01
$0.16
$0.23
$0.02
$0.03
$0.04
$0.04
Non-GAAP net income
$2.34
$1.66
$1.16
$2.80
$0.92
$0.99
$1.07
Weighted Avg. number of diluted shares (in K)
34,303
38,919
40,027
41,074
41,639
44,253 45,404
UCT
* Refer to 10k
8. Fair value adjustments related to contingent
consideration, purchase obligation, DMS'
sold inventories, forward hedge contracts
9. Depreciation adjustments related to QGT's
fixed assets
10. Represents gain realized on the sale of land
in South Korea
11. Insurance proceeds pertaining to the Cinos
fire in 2018
12. Tax effect of items (1) through (11) above
based on the non-GAAP tax rate
13. The Company's GAAP tax expense is
generally higher than the Company's non-
GAAP tax expense, primarily due to losses
in the U.S. with full federal and state
valuation allowances. The Company's non-
GAAP tax rate and resulting non-GAAP tax
expense considers the tax implications as if
there was no federal or state valuation
allowance position in effect
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