Investor Presentaiton
8
Fiscal Fourth Quarter Guidance (1)
GAAP
Revenue ($ B)
Gross Margin %
Operating Expenses ($M)
Interest and Other Expense, net ($ M)
Income Tax Expense ($M) (3)
EPS - Diluted
Share Count - Diluted (in millions)
1.
Guidance as shown is as of May 8, 2023.
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Non-GAAP(2)
$2.40 $2.60
$2.40 $2.60
2.4% -4.4%
3.0% - 5.0%
$ 730 - $750
$ 580 - $ 600
~$ 90
N/A
~$ 90
$60 - $70
N/A
-
$ (2.20) $ (1.90)
~321
~321
2.
3.
Non-GAAP gross margin guidance excludes stock-based compensation expense of approximately $ 10 million to $ 15 million. The company's Non-GAAP operating expenses guidance excludes amortization of acquired intangible
assets, stock-based compensation expense, employee termination, asset impairment and other charges, and expenses related to strategic review, totaling approximately $ 140 million to $ 160 million. In the aggregate, Non-GAAP
diluted earnings per share guidance excludes these items totaling $ 150 million to $ 175 million. The timing and amount of these charges excluded from Non-GAAP gross margin, Non-GAAP operating expenses, and Non-GAAP
diluted earnings per share cannot be further allocated or quantified with certainty. Additionally, the timing and amount of additional charges the company excludes from its Non-GAAP income tax expense and Non-GAAP diluted
earnings per share are dependent on the timing and determination of certain actions and cannot be reasonably predicted. Accordingly, full reconciliations of Non-GAAP gross margin, Non-GAAP operating expenses, Non-GAAP
income tax expense and Non-GAAP diluted earnings per share to the most directly comparable GAAP financial measures (GAAP gross profit, GAAP Operating expenses, income tax expense and diluted earnings per share,
respectively) are not available without unreasonable effort.
The Non-GAAP income tax expense is determined based on a percentage of Non-GAAP pre-tax income or loss. Our estimated Non-GAAP tax dollars may differ from our GAAP tax dollars (i) due to differences in the tax treatment of
items excluded from our Non-GAAP net income; (ii) the fact that our GAAP income tax expense or benefit recorded in any interim period is based on an estimated forecasted GAAP tax rate for the full year, excluding loss jurisdictions;
and (iii) because our GAAP taxes recorded in any interim period are dependent on the timing and determination of certain GAAP operating expenses.View entire presentation