[August 04, 2016] |
|
MRV Reports Second-Quarter Results
MRV Communications, Inc. (NASDAQ:MRVC), a global
provider of innovative packet and optical solutions for service
providers, data center operators and enterprises, reported financial
results for the three- and six-months ended June 30, 2016.
"Second quarter 2016 packet and optical revenue grew 19% sequentially,
demonstrating our strong progress executing our go-to-market strategy,"
stated MRV President and CEO Mark Bonney. "We remain focused exclusively
on solutions for the Metro, expanding our relationships with Tier 1
customers while targeting new regional service providers and carrier
neutral providers in the data center market that are not as well served
by larger competitors. As a result, we are gaining momentum across our
strategic product portfolio. Our bookings increased for the third
consecutive quarter in the Americas, and total bookings reached their
highest levels since late 2013 for both our Carrier Ethernet and optical
transport solutions globally. Also, orders for our 100G products for the
first half of 2016 have already equaled those from all of 2015.
Furthering our transition to our next generation solutions, we
introduced OptiDriver® and OptiSwitch® product
line extensions this quarter. Combined, these factors fuel our
confidence as we look forward."
Second Quarter 2016 Financial Results as compared to Second Quarter
2015
The company uses certain non-GAAP financial measures and a
reconciliation of the non-GAAP measures to GAAP measures is provided in
the attached table.
-
Revenue was $21.6 million, compared to $24.5 million. The reduction
reflects the impact of certain significant network project
installations completed in the second quarter of 2015 as well as a
reduction of sales of our legacy infrastructure management products.
Sequentially, revenue grew 14% from $18.9 million in the first quarter
of 2016, driven by 19% growth in packet and optical products.
-
Gross margin was 46.7%, compared to 48.8%. The decline reflects the
impact of product mix including the reduced contribution from our
legacy infrastructure management products and the impact of increased
revenue of 100G products that have higher average costs in current
quantities. Gross margin was also negatively impacted by $325,000 of
one-time costs associated with the company's contract manufacturing
consolidation.
-
Operating expenses were $12.1 million, compared to $12.7 million,
reflecting lower commission expense due to the lower revenue and
careful management of all operating expenses.
-
GAAP net loss from continuing operations was $2.0 million, or $0.29
per share, compared to $1.1 million, or $0.16 per share.
-
Non-GAAP net loss from continuing operations was $1.3 million, or
$0.19 per share, compared to $0.8 million, or $0.11 per share.
-
Total GAAP net loss, including discontinued operations, was $2.0
million, or $0.29 per share, compared to $0.3 million, or $0.04 per
share.
Year-to-date June 30, 2016 Financial Results as compared to
Year-to-date 2015
-
Total revenue amounted to $40.5 million, compared to $46.7 million,
primarily due to reduced sales of legacy infrastructure management
products and fewer network expansion projects in the first half of
2016.
-
Year-to-date, total gross margin was 49.1%, compared to 50.3%.
-
GAAP net loss from continuing operations was $5.9 million, or $0.84
per share, compared to $2.4 million, or $0.34 per share.
-
Non-GAAP net loss from continuing operations was $4.8 million, or
$0.69 per share, compared $1.7 million, or $0.24 per share.
-
Total GAAP net loss, including discontinued operations, was $5.9
million, or $0.84 per share, compared to $1.3 million, or $0.19 per
share.
Balance Sheet Highlights
At June 30, 2016, the company remained debt free with cash and
investments totaling $30.0 million. This compared to $31.4 million at
December 31, 2015. In March 2016, the company initiated a $10 million
share buyback program. During the second quarter, the company used $1.8
million to repurchase approximately 183,000 shares, bringing the
year-to-date total to $1.9 million for approximately 189,000 shares.
Lower working capital requirements in the period partially offset the
use of cash for the share repurchase program.
Conference Call Information:
MRV Communication's second quarter 2016 financial results conference
call is scheduled to take place on August 4, 2016 at 5:00 p.m. ET. To
access the call in the U.S. please dial 888-438-5524, and for
international calls dial 719-325-2448 approximately 10 minutes prior to
the start of the conference. The conference ID is 4545354. The
conference call will also be broadcast live at MRV
Communications investor website, where it will be available for
replay for 90 days. In addition, a replay will be available via
telephone for one business day, beginning two hours after the call. To
listen to the replay, in the U.S. please dial 877-870-5176, and
internationally dial 858-384-5517. The access code is 4545354.
About MRV Communications
MRV Communications (NASDAQ:MRVC) enables service providers, data center
operators and enterprises to make their networks smarter, faster and
easier to operate. MRV's end-to-end portfolio includes innovative
packet, optical and software platforms designed for flexibility and
reliability. To learn more about MRV visit www.mrv.com
and follow us on Twitter @MRVC.
Non-GAAP Measures
The company uses certain non-GAAP financial measures in this press
release to supplement its consolidated financial statements, which are
presented in accordance with GAAP. These non-GAAP measures include
non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP product
development and engineering, non-GAAP selling, general and
administrative, non-GAAP operating expenses, non-GAAP operating income
(loss), non-GAAP net income (loss) and non-GAAP basic and diluted income
(loss) per share. The company's non-GAAP financial measures exclude the
impact of stock-based compensation expense, severance and related
transition costs, costs related to the sale of Tecnonet S.p.A. and other
non-recurring expenses, which the company believes are not indicative of
its core operating results. The company used these non-GAAP measures
when evaluating its financial results as well as for internal resource
management, planning and forecasting purposes. These non-GAAP measures
should not be viewed in isolation from or as a substitute for the
company's financial results in accordance with GAAP. A reconciliation of
GAAP to non-GAAP measures is attached to this press release.
Forward Looking Statements
This press release may contain statements regarding future financial and
operating results of MRV, management's assessment of business trends,
and other statements about management's future expectations, beliefs,
goals, plans or prospects and those of the market segments in which MRV
is engaged that are based on management's current expectations,
estimates, forecasts and projections about MRV and its consolidated
businesses and the respective market segments in which MRV's businesses
operate, in addition to management's assumptions. Statements in this
press release regarding MRV's future financial and operating results,
which are not statements of historical facts, constitute forward-looking
statements within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995. Words such as "anticipate," "appear," "believe,"
"could," "estimate," "expect," "intend," "may," "should," "plan,"
"project," "contemplate," "target," "foresee," "goal," "likely," "will,"
and "would" or variations of such words and similar expressions, are
intended to identify such forward-looking statements which are not
statements of historical facts. These forward-looking statements are not
guarantees of future performance nor guarantees that the events
anticipated will occur or expected conditions will remain the same or
improve. These statements involve certain risks, uncertainties and
assumptions, the likelihood of which are difficult to assess and may not
occur, including risks that each of its business segments may not make
the expected progress in its respective market, or that management's
long-term strategy may not achieve the expected results. Therefore,
actual outcomes, performance and results may differ from what is
expressed or forecast in such forward-looking statements, and such
differences may vary materially from current expectations. For further
information regarding risks and uncertainties associated with MRV's
businesses, please refer to the "Management's Discussion and Analysis of
Financial Condition and Results of Operations" and "Risk Factors"
sections of MRV's SEC filings, including, but not limited to its annual
report on Form 10-K for the year ended December 31, 2015, copies of
which may be obtained by contacting MRV's investor relations department
or by visiting MRV's website at http://www.mrv-corporate.com
or the SEC's EDGAR website at http://www.sec.gov.
All information in this release is as of August 4, 2016 unless otherwise
stated. MRV undertakes no duty to update any forward-looking statement
to conform the statement to actual results or changes in MRV's
expectations.
|
|
|
|
|
|
|
|
MRV Communications, Inc.
|
Condensed Consolidated Statements of Operations
|
(In thousands, except per share data)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
Six Months Ended
|
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product revenue
|
|
|
|
$
|
18,658
|
|
|
|
$
|
21,495
|
|
|
|
$
|
34,665
|
|
|
|
$
|
40,963
|
|
Service revenue
|
|
|
|
2,926
|
|
|
|
3,024
|
|
|
|
5,801
|
|
|
|
5,741
|
|
Total revenue
|
|
|
|
21,584
|
|
|
|
24,519
|
|
|
|
40,466
|
|
|
|
46,704
|
|
Cost of Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of product
|
|
|
|
10,285
|
|
|
|
11,632
|
|
|
|
17,880
|
|
|
|
21,249
|
|
Cost of services
|
|
|
|
1,228
|
|
|
|
928
|
|
|
|
2,712
|
|
|
|
1,952
|
|
Total cost of revenue
|
|
|
|
11,513
|
|
|
|
12,560
|
|
|
|
20,592
|
|
|
|
23,201
|
|
Gross profit
|
|
|
|
10,071
|
|
|
|
11,959
|
|
|
|
19,874
|
|
|
|
23,503
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product development and engineering
|
|
|
|
5,125
|
|
|
|
5,310
|
|
|
|
10,469
|
|
|
|
10,435
|
|
Selling, general and administrative
|
|
|
|
7,007
|
|
|
|
7,379
|
|
|
|
15,024
|
|
|
|
15,115
|
|
Total operating expenses
|
|
|
|
12,132
|
|
|
|
12,689
|
|
|
|
25,493
|
|
|
|
25,550
|
|
Operating loss
|
|
|
|
(2,061
|
)
|
|
|
(730
|
)
|
|
|
(5,619
|
)
|
|
|
(2,047
|
)
|
Interest expense
|
|
|
|
-
|
|
|
|
(22
|
)
|
|
|
-
|
|
|
|
(36
|
)
|
Other income (expense), net
|
|
|
|
74
|
|
|
|
(296
|
)
|
|
|
(203
|
)
|
|
|
(215
|
)
|
Loss from continuing operations before provision for income taxes
|
|
|
|
(1,987
|
)
|
|
|
(1,048
|
)
|
|
|
(5,822
|
)
|
|
|
(2,298
|
)
|
Provision for income taxes
|
|
|
|
36
|
|
|
|
77
|
|
|
|
97
|
|
|
|
127
|
|
Loss from continuing operations
|
|
|
|
(2,023
|
)
|
|
|
(1,125
|
)
|
|
|
(5,919
|
)
|
|
|
(2,425
|
)
|
Income from discontinued operations, net of income taxes of $675 and
$813 in 2015
|
|
|
|
-
|
|
|
|
844
|
|
|
|
-
|
|
|
|
1,076
|
|
Net loss
|
|
|
|
$
|
(2,023
|
)
|
|
|
$
|
(281
|
)
|
|
|
$
|
(5,919
|
)
|
|
|
$
|
(1,349
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per share - basic
|
|
|
|
|
|
|
|
|
|
|
|
|
|
From continuing operations
|
|
|
|
$
|
(0.29
|
)
|
|
|
$
|
(0.16
|
)
|
|
|
$
|
(0.84
|
)
|
|
|
$
|
(0.34
|
)
|
From discontinued operations
|
|
|
|
-
|
|
|
|
0.12
|
|
|
|
-
|
|
|
|
0.15
|
|
Net loss per share - basic
|
|
|
|
$
|
(0.29
|
)
|
|
|
$
|
(0.04
|
)
|
|
|
$
|
(0.84
|
)
|
|
|
$
|
(0.19
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per share - diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
From continuing operations
|
|
|
|
$
|
(0.29
|
)
|
|
|
$
|
(0.16
|
)
|
|
|
$
|
(0.84
|
)
|
|
|
$
|
(0.34
|
)
|
From discontinued operations
|
|
|
|
-
|
|
|
|
0.12
|
|
|
|
-
|
|
|
|
0.15
|
|
Net loss per share - diluted
|
|
|
|
$
|
(0.29
|
)
|
|
|
$
|
(0.04
|
)
|
|
|
$
|
(0.84
|
)
|
|
|
$
|
(0.19
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
7,092
|
|
|
|
6,988
|
|
|
|
7,042
|
|
|
|
7,059
|
|
Diluted
|
|
|
|
7,092
|
|
|
|
6,988
|
|
|
|
7,042
|
|
|
|
7,059
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MRV Communications, Inc.
|
Condensed Consolidated Balance Sheets
|
(In thousands, except par values)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
|
|
|
December 31,
|
|
|
|
|
2016
|
|
|
2015
|
Assets
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
$
|
24,810
|
|
|
|
$
|
26,169
|
|
Restricted time deposits
|
|
|
|
5,168
|
|
|
|
5,190
|
|
Accounts receivable, net
|
|
|
|
15,928
|
|
|
|
14,837
|
|
Inventories, net
|
|
|
|
8,407
|
|
|
|
10,226
|
|
Other current assets
|
|
|
|
1,983
|
|
|
|
6,851
|
|
Total current assets
|
|
|
|
56,296
|
|
|
|
63,273
|
|
Property and equipment, net
|
|
|
|
3,593
|
|
|
|
4,050
|
|
Intangible asset, net
|
|
|
|
1,031
|
|
|
|
1,153
|
|
Other assets
|
|
|
|
478
|
|
|
|
608
|
|
Total assets
|
|
|
|
$
|
61,398
|
|
|
|
$
|
69,084
|
|
|
|
|
|
|
|
|
|
Liabilities and stockholders' equity
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
Deferred consideration payable
|
|
|
|
$
|
233
|
|
|
|
$
|
233
|
|
Accounts payable
|
|
|
|
5,959
|
|
|
|
5,749
|
|
Accrued liabilities
|
|
|
|
9,398
|
|
|
|
9,972
|
|
Deferred revenue
|
|
|
|
7,086
|
|
|
|
7,642
|
|
Other current liabilities
|
|
|
|
378
|
|
|
|
196
|
|
Total current liabilities
|
|
|
|
23,054
|
|
|
|
23,792
|
|
Other long-term liabilities
|
|
|
|
3,964
|
|
|
|
3,846
|
|
Commitments and contingencies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity:
|
|
|
|
|
|
|
|
Preferred Stock, $0.01 par value: Authorized - 1,000 shares; no
shares issued or outstanding
|
|
|
|
-
|
|
|
|
-
|
|
Common Stock, $0.0017 par value:
|
|
|
|
|
|
|
|
Authorized - 16,000 shares
|
|
|
|
|
|
|
|
Issued - 8,435 shares in 2016 and 8,341 shares in 2015
|
|
|
|
|
|
|
|
Outstanding - 6,887 shares in 2016 and 6,982 in 2015
|
|
|
|
270
|
|
|
|
270
|
|
Additional paid-in capital
|
|
|
|
1,286,475
|
|
|
|
1,285,787
|
|
Accumulated deficit
|
|
|
|
(1,233,590
|
)
|
|
|
(1,227,671
|
)
|
Treasury stock - 1,547 shares in 2016 and 1,359 shares in 2015
|
|
|
|
(17,227
|
)
|
|
|
(15,355
|
)
|
Accumulated other comprehensive loss
|
|
|
|
(1,548
|
)
|
|
|
(1,585
|
)
|
Total stockholders' equity
|
|
|
|
34,380
|
|
|
|
41,446
|
|
Total liabilities and stockholders' equity
|
|
|
|
$
|
61,398
|
|
|
|
$
|
69,084
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MRV Communications, Inc.
|
Consolidated Non-GAAP reconciliation
|
(Unaudited, in thousands except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months ended
|
|
|
Six Months ended
|
|
|
|
|
June 30
|
|
|
June 30
|
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP revenue
|
|
|
|
$
|
21,584
|
|
|
|
$
|
24,519
|
|
|
|
$
|
40,466
|
|
|
|
$
|
46,704
|
|
Cost of revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP cost of revenue
|
|
|
|
11,513
|
|
|
|
12,560
|
|
|
|
20,592
|
|
|
|
23,201
|
|
Stock-based charges
|
|
|
|
(28
|
)
|
|
|
(25
|
)
|
|
|
(70
|
)
|
|
|
(55
|
)
|
Severance & transition costs
|
|
|
|
(325
|
)
|
|
|
-
|
|
|
|
(325
|
)
|
|
|
-
|
|
Non-GAAP adjusted cost of revenue
|
|
|
|
11,160
|
|
|
|
12,535
|
|
|
|
20,197
|
|
|
|
23,146
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP gross profit
|
|
|
|
10,071
|
|
|
|
11,959
|
|
|
|
19,874
|
|
|
|
23,503
|
|
Stock-based charges
|
|
|
|
28
|
|
|
|
25
|
|
|
|
70
|
|
|
|
55
|
|
Severance & transition costs
|
|
|
|
325
|
|
|
|
-
|
|
|
|
325
|
|
|
|
-
|
|
Non-GAAP adjusted gross profit
|
|
|
|
10,424
|
|
|
|
11,984
|
|
|
|
20,269
|
|
|
|
23,558
|
|
Gross Margin %
|
|
|
|
48.3
|
%
|
|
|
48.9
|
%
|
|
|
50.1
|
%
|
|
|
50.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Product development and engineering
|
|
|
|
5,125
|
|
|
|
5,310
|
|
|
|
10,469
|
|
|
|
10,435
|
|
Stock-based charges
|
|
|
|
(63
|
)
|
|
|
(44
|
)
|
|
|
(139
|
)
|
|
|
(93
|
)
|
Non-GAAP Product development and engineering
|
|
|
|
5,062
|
|
|
|
5,266
|
|
|
|
10,330
|
|
|
|
10,342
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Selling, general & administrative:
|
|
|
|
7,007
|
|
|
|
7,379
|
|
|
|
15,024
|
|
|
|
15,115
|
|
Stock-based charges
|
|
|
|
(259
|
)
|
|
|
(167
|
)
|
|
|
(488
|
)
|
|
|
(294
|
)
|
Severance
|
|
|
|
-
|
|
|
|
(130
|
)
|
|
|
-
|
|
|
|
(286
|
)
|
Divestiture costs
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(68
|
)
|
|
|
-
|
|
Non-GAAP Selling, general & administrative
|
|
|
|
6,748
|
|
|
|
7,082
|
|
|
|
14,468
|
|
|
|
14,535
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP operating expenses:
|
|
|
|
12,132
|
|
|
|
12,689
|
|
|
|
25,493
|
|
|
|
25,550
|
|
Stock-based charges
|
|
|
|
(322
|
)
|
|
|
(211
|
)
|
|
|
(627
|
)
|
|
|
(387
|
)
|
Severance
|
|
|
|
-
|
|
|
|
(130
|
)
|
|
|
-
|
|
|
|
(286
|
)
|
Divestiture costs
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(68
|
)
|
|
|
-
|
|
Non-GAAP operating expenses
|
|
|
|
$
|
11,810
|
|
|
|
$
|
12,348
|
|
|
|
$
|
24,798
|
|
|
|
$
|
24,877
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MRV Communications, Inc.
|
Consolidated Non-GAAP reconciliation
|
(continued)
|
(Unaudited, in thousands except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months ended
|
|
|
Six Months ended
|
|
|
|
|
June 30
|
|
|
June 30
|
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP operating loss:
|
|
|
|
$
|
(2,061
|
)
|
|
|
$
|
(730
|
)
|
|
|
$
|
(5,619
|
)
|
|
|
$
|
(2,047
|
)
|
Stock-based charges
|
|
|
|
350
|
|
|
|
236
|
|
|
|
697
|
|
|
|
442
|
|
Severance & transition costs
|
|
|
|
325
|
|
|
|
130
|
|
|
|
325
|
|
|
|
286
|
|
Divestiture costs
|
|
|
|
-
|
|
|
|
-
|
|
|
|
68
|
|
|
|
-
|
|
Non-GAAP operating loss
|
|
|
|
(1,386
|
)
|
|
|
(364
|
)
|
|
|
(4,529
|
)
|
|
|
(1,319
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net loss
|
|
|
|
(2,023
|
)
|
|
|
(1,125
|
)
|
|
|
(5,919
|
)
|
|
|
(2,425
|
)
|
Stock-based charges
|
|
|
|
350
|
|
|
|
236
|
|
|
|
697
|
|
|
|
442
|
|
Severance & transition costs
|
|
|
|
325
|
|
|
|
130
|
|
|
|
325
|
|
|
|
286
|
|
Divestiture costs
|
|
|
|
-
|
|
|
|
-
|
|
|
|
68
|
|
|
|
-
|
|
Non-GAAP adjusted net loss
|
|
|
|
(1,348
|
)
|
|
|
(759
|
)
|
|
|
(4,829
|
)
|
|
|
(1,697
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tecnonet discontinued operations
|
|
|
|
-
|
|
|
|
844
|
|
|
|
-
|
|
|
|
1,076
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP adjusted net income (loss) including Tecnonet
Discontinued operations
|
|
|
|
$
|
(1,348
|
)
|
|
|
$
|
85
|
|
|
|
$
|
(4,829
|
)
|
|
|
$
|
(621
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares - Basic
|
|
|
|
7,092
|
|
|
|
6,988
|
|
|
|
7,042
|
|
|
|
7,059
|
|
GAAP EPS - Continuing operations
|
|
|
|
$
|
(0.29
|
)
|
|
|
$
|
(0.16
|
)
|
|
|
$
|
(0.84
|
)
|
|
|
$
|
(0.34
|
)
|
Non-GAAP EPS - Continuing operations
|
|
|
|
$
|
(0.19
|
)
|
|
|
$
|
(0.11
|
)
|
|
|
$
|
(0.69
|
)
|
|
|
$
|
(0.24
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares - Diluted
|
|
|
|
7,092
|
|
|
|
6,988
|
|
|
|
7,042
|
|
|
|
7,059
|
|
GAAP EPS - Discontinued operations
|
|
|
|
$
|
-
|
|
|
|
$
|
0.12
|
|
|
|
$
|
-
|
|
|
|
$
|
0.15
|
|
Non-GAAP EPS - Discontinued operations
|
|
|
|
$
|
-
|
|
|
|
$
|
0.12
|
|
|
|
$
|
-
|
|
|
|
$
|
0.15
|
|
View source version on businesswire.com: http://www.businesswire.com/news/home/20160804006302/en/
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