Investor Presentaiton
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Fiscal Second Quarter Guidance (1)
Revenue ($ B)
Gross Margin %
Operating Expenses ($M)
Interest and Other Expense, net ($ M)
Income Tax Expense ($M) (3)
Preferred Dividend ($M)
EPS - Diluted
Share Count - Diluted (in millions)
GAAP
$ 2.85 $ 3.05
-
9.5% 11.5%
-
$ 650 - $ 670
~$ 105
Non-GAAP (2)
$ 2.85 $ 3.05
-
10.0% 12.0%
-
$ 560 - $ 580
~$ 105
$20 - $ 30
N/A
$ 15
$ 15
N/A
$ (1.35) $ (1.05)
~325
~325
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1.
Guidance as shown is as of October 30, 2023.
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 stock-based compensation expense,
and expenses related to strategic review, totaling approximately $ 85 million to $ 95 million. In the aggregate, Non-GAAP diluted earnings per share guidance excludes these items totaling approximately $ 95 million to $ 110 million.
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. 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. 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 or loss; (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