Latest news with #PDFSolutions
Yahoo
18-05-2025
- Business
- Yahoo
Independent Director of PDF Solutions Picks Up 34% More Stock
Potential PDF Solutions, Inc. (NASDAQ:PDFS) shareholders may wish to note that the Independent Director, Michael Gustafson, recently bought US$146k worth of stock, paying US$19.45 for each share. That's a very decent purchase to our minds and it grew their holding by a solid 34%. Our free stock report includes 1 warning sign investors should be aware of before investing in PDF Solutions. Read for free now. The Co-Founder John Kibarian made the biggest insider purchase in the last 12 months. That single transaction was for US$1.1m worth of shares at a price of US$22.80 each. That means that even when the share price was higher than US$19.70 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. To us, it's very important to consider the price insiders pay for shares. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price. In the last twelve months insiders purchased 61.50k shares for US$1.4m. But insiders sold 18.78k shares worth US$597k. In the last twelve months there was more buying than selling by PDF Solutions insiders. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction! Check out our latest analysis for PDF Solutions There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying. Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. PDF Solutions insiders own 17% of the company, currently worth about US$134m based on the recent share price. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders. It's certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about PDF Solutions. Looks promising! So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. For example - PDF Solutions has 1 warning sign we think you should be aware of. But note: PDF Solutions may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error while retrieving data Sign in to access your portfolio Error while retrieving data
Business Insider
05-05-2025
- Business
- Business Insider
Rosenblatt Securities Remains a Buy on PDF Solutions (PDFS)
In a report released today, Blair Abernethy from Rosenblatt Securities maintained a Buy rating on PDF Solutions (PDFS – Research Report), with a price target of $31.00. The company's shares closed last Friday at $19.19. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. According to TipRanks, Abernethy is a 4-star analyst with an average return of 5.5% and a 56.62% success rate. Abernethy covers the Technology sector, focusing on stocks such as PDF Solutions, Pegasystems, and Ansys. PDF Solutions has an analyst consensus of Strong Buy, with a price target consensus of $30.00. PDFS market cap is currently $750.6M and has a P/E ratio of 185.23. Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PDFS in relation to earlier this year. Most recently, in February 2025, MICHAEL B GUSTAFSON, a Director at PDFS bought 4,000.00 shares for a total of $92,240.00.
Yahoo
10-04-2025
- Business
- Yahoo
3 Undervalued Small Caps With Insider Buying Opportunities
In a recent surge, the U.S. stock markets experienced significant gains with the Dow climbing nearly 3,000 points and the Nasdaq soaring by 12%, following President Trump's announcement of a temporary pause on tariffs. This volatility in broader market sentiment presents an intriguing backdrop for investors considering small-cap stocks, which can offer unique opportunities when market conditions shift. In this environment, identifying promising small-cap companies involves looking at those with strong fundamentals and potential catalysts that align well with current economic trends and investor interests. Name PE PS Discount to Fair Value Value Rating Flowco Holdings 6.5x 1.0x 36.25% ★★★★★☆ Thryv Holdings NA 0.6x 29.60% ★★★★★☆ Shore Bancshares 9.5x 2.1x 16.02% ★★★★☆☆ MVB Financial 10.9x 1.5x 36.35% ★★★★☆☆ S&T Bancorp 10.4x 3.5x 45.00% ★★★★☆☆ Columbus McKinnon 42.4x 0.4x 43.25% ★★★☆☆☆ West Bancorporation 13.6x 4.1x 49.63% ★★★☆☆☆ PDF Solutions 182.8x 4.1x 18.39% ★★★☆☆☆ Union Bankshares 15.0x 2.8x 47.32% ★★★☆☆☆ Titan Machinery NA 0.1x -306.54% ★★★☆☆☆ Click here to see the full list of 85 stocks from our Undervalued US Small Caps With Insider Buying screener. We're going to check out a few of the best picks from our screener tool. Simply Wall St Value Rating: ★★★☆☆☆ Overview: Domo is a software and programming company that specializes in providing cloud-based business intelligence solutions. Operations: The company generates revenue primarily from its Software & Programming segment, with the latest reported figure being $317.04 million. Over recent periods, the gross profit margin has shown a trend of fluctuation, recently recorded at 74.45%. Operating expenses are significant, with sales and marketing consistently being the largest component. PE: -4.0x Domo, a company with a focus on data integration and AI solutions, has been making strategic partnerships to enhance its platform's capabilities. Recent collaborations with Weather Trends International and Human Capital Vue highlight its ability to provide actionable insights across various sectors. Despite reporting an annual net loss of US$81.94 million for the year ending January 31, 2025, Domo continues to attract interest due to insider confidence shown through stock purchases in early April 2025. While currently unprofitable and reliant on external borrowing for funding, these partnerships could position Domo well for future growth by improving operational efficiencies and decision-making capabilities within client organizations. Dive into the specifics of Domo here with our thorough valuation report. Gain insights into Domo's historical performance by reviewing our past performance report. Simply Wall St Value Rating: ★★★☆☆☆ Overview: PDF Solutions is a company that provides software and programming solutions, with a focus on enhancing the yield and performance of semiconductor manufacturing processes, and has a market capitalization of approximately $1.31 billion. Operations: PDF Solutions generates revenue primarily from its Software & Programming segment, which recently reached $179.47 million. The company has experienced fluctuations in its net income margin, with recent figures showing a positive 2.26%. The gross profit margin has shown an upward trend, reaching 69.83% in the latest period. Operating expenses are significant and include research and development costs of $53.57 million and general & administrative expenses of $69.92 million as of the latest report. PE: 182.8x PDF Solutions, a smaller U.S. company, has shown insider confidence with John Kibarian purchasing 50,000 shares for approximately US$1.13 million in early March 2025. The company's revenue is projected to grow by nearly 15% this year, highlighting its potential despite relying on higher-risk external borrowing for funding. Recent financial results indicate an increase in annual sales to US$179 million from US$166 million the previous year, though net income saw modest growth to US$4.06 million. Take a closer look at PDF Solutions' potential here in our valuation report. Explore historical data to track PDF Solutions' performance over time in our Past section. Simply Wall St Value Rating: ★★★☆☆☆ Overview: Everus Construction Group operates in the construction industry, focusing on Electrical & Mechanical and Transmission and Distribution segments, with a market capitalization of $2.75 billion. Operations: Everus Construction Group generates revenue primarily from its Electrical & Mechanical (E&M) and Transmission and Distribution (T&D) segments, totaling approximately $2.03 billion and $837.15 million, respectively. The company's gross profit margin has shown fluctuations, with a recent figure of 12.22%. Operating expenses include significant allocations to general and administrative costs, which reached $124.24 million in the latest period analyzed. PE: 14.1x Everus Construction Group, a small player in the U.S. construction sector, has been navigating a challenging environment with its volatile share price and reliance on external borrowing for funding. Despite these hurdles, insider confidence was evident with recent purchases of shares by executives earlier this year. The company's earnings guidance for 2025 projects revenue between US$3 billion and US$3.1 billion, alongside net income expectations of US$120 million to US$130 million. However, ongoing legal issues could pose risks to their financial stability and growth trajectory moving forward. Click here and access our complete valuation analysis report to understand the dynamics of Everus Construction Group. Gain insights into Everus Construction Group's past trends and performance with our Past report. Investigate our full lineup of 85 Undervalued US Small Caps With Insider Buying right here. Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes. Maximize your investment potential with Simply Wall St, the comprehensive app that offers global market insights for free. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGM:DOMO NasdaqGS:PDFS and NYSE:ECG. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Associated Press
13-02-2025
- Business
- Associated Press
PDF Solutions® Announces Record 2024 Fourth Quarter and Full Year Total Revenues
SANTA CLARA, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) -- PDF Solutions, Inc. (Nasdaq: PDFS), a leading provider of comprehensive data solutions for the semiconductor and electronics ecosystem, today announced financial results for its fourth quarter and year ended December 31, 2024. Financial Highlights of Fourth Quarter 2024 Record quarterly total revenues of $50.1 million, up 22% over last year's comparable quarter Record quarterly analytics revenue of $47.9 million, up 22% over last year's comparable quarter GAAP gross margin of 68% and non-GAAP gross margin of 72% GAAP diluted earnings per share (EPS) of $0.01 and non-GAAP diluted EPS of $0.25 Financial Highlights of Full Year 2024 Record full year total revenues of $179.5 million, up 8% over last year Record full year analytics revenue of $169.3 million, up 11% over last year GAAP gross margin of 70% and non-GAAP gross margin of 74% GAAP diluted EPS of $0.10 and non-GAAP diluted EPS of $0.84 Backlog of $221.4 million as of December 31, 2024 Total revenues for the fourth quarter of 2024 were $50.1 million, compared to $46.4 million for the third quarter of 2024 and $41.1 million for the fourth quarter of 2023. Analytics revenue for the fourth quarter of 2024 was $47.9 million, compared to $44.8 million for the third quarter of 2024 and $39.1 million for the fourth quarter of 2023. Integrated Yield Ramp revenue for the fourth quarter of 2024 was $2.2 million, compared to $1.7 million for the third quarter of 2024 and $2.0 million for the fourth quarter of 2023. Total revenues for the full year 2024 and 2023 were $179.5 million and $165.8 million, respectively. GAAP gross margin for the fourth quarter of 2024 was 68%, compared to 73% for the third quarter of 2024 and 68% for the fourth quarter of 2023. GAAP gross margin for the full year 2024 and 2023 was 70% and 69%, respectively. Non-GAAP gross margin for the fourth quarter of 2024 was 72%, compared to 77% for the third quarter of 2024 and 72% for the fourth quarter of 2023. Non-GAAP gross margin for the full year 2024 and 2023 was 74% and 73%, respectively. On a GAAP basis, net income for the fourth quarter of 2024 was $0.5 million, or $0.01 per diluted share, compared to net income of $2.2 million, or $0.06 per diluted share, for the third quarter of 2024, and net income of $0.9 million, or $0.02 per diluted share, for the fourth quarter of 2023. On a GAAP basis, net income for the full year 2024 was $4.1 million, or $0.10 per diluted share, compared to net income of $3.1 million, or $0.08 per diluted share, for the full year 2023. Non-GAAP net income for the fourth quarter of 2024 was $9.9 million, or $0.25 per diluted share, compared to non-GAAP net income of $9.9 million, or $0.25 per diluted share, for the third quarter of 2024, and non-GAAP net income of $5.7 million, or $0.15 per diluted share, for the fourth quarter of 2023. Non-GAAP net income for the full year 2024 was $32.6 million, or $0.84 per diluted share, compared to non-GAAP net income of $28.5 million, or $0.73 per diluted share, for the full year 2023. Cash, cash equivalents and short-term investments as of December 31, 2024, were $114.9 million. Financial Outlook 'We are pleased with the progress we are making with our customers. During the fourth quarter of 2024, we completed an ongoing manufacturing evaluation of an eProbe machine earlier than the customer's schedule, resulting in the sale to this new leading edge customer, booked multiple Exensio deals, and saw growth in our Cimetrix connectivity business from runtime licenses. In 2025, we expect our full year revenues to grow at a rate approaching 15% year over year,' said John Kibarian, CEO and President. Conference Call As previously announced, PDF Solutions will discuss these results on a live conference call beginning at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time today. To participate on the live call, analysts and investors should pre-register at: Registrants will receive dial-in information and a unique passcode to access the call. We encourage participants to dial into the call ten minutes ahead of the scheduled time. The teleconference will also be webcast simultaneously on the Company's website at A replay of the conference call webcast will be available after the call on the Company's investor relations website. A copy of this press release, including the disclosure and reconciliation of certain non-GAAP financial measures to the comparable GAAP measures, which non-GAAP measures may be used periodically by PDF Solutions' management when discussing financial results with investors and analysts, will also be available on PDF Solutions' website at following the date of this release. Fourth Quarter and Full Year 2024 Financial Commentary Available Online A Management Report reviewing the Company's fourth quarter and full year 2024 financial results will be furnished to the Securities and Exchange Commission on Form 8-K and published on the Company's website at Analysts and investors are encouraged to review this commentary prior to participating in the conference call. Information Regarding Use of Non-GAAP Financial Measures In addition to providing results that are determined in accordance with accounting principles generally accepted in the United States of America ('GAAP'), PDF Solutions also provides certain non-GAAP financial measures. Non-GAAP gross profit and margin exclude stock-based compensation expense and the amortization of acquired technology under costs of revenues. Non-GAAP net income excludes stock-based compensation expense, amortization of acquired technology under costs of revenues, amortization of other acquired intangible assets, and the effects of certain non-recurring items, such as expenses for certain legal proceedings, non-recurring legal, tax and accounting service-related costs, loss on damaged equipment in-transit, net of recovery from previously written-off property and equipment, and their related income tax effects, as applicable, as well as adjustments for the valuation allowance for deferred tax assets and reconciling items. These non-GAAP financial measures are used by management internally to measure the Company's profitability and performance. PDF Solutions' management believes that these non-GAAP measures provide useful supplemental information to investors regarding the Company's ongoing operations in light of the fact that none of these categories of expense and income has a current effect on the future uses of cash (with the exception of expenses related to certain legal proceedings and non-recurring legal, tax and accounting services) nor do they impact the generation of current or future revenues. These non-GAAP results should not be considered an alternative to, or a substitute for, GAAP financial information, and may differ from similarly titled non-GAAP measures used by other companies. In particular, these non-GAAP financial measures are not a substitute for GAAP measures of income or loss as a measure of performance, or to cash flows from operating, investing and financing activities as a measure of liquidity. Since management uses these non-GAAP financial measures internally to measure profitability and performance, PDF Solutions has included these non-GAAP measures to give investors an opportunity to see the Company's financial results as viewed by management. A reconciliation of the comparable GAAP financial measures to the non-GAAP financial measures is provided at the end of the Company's condensed consolidated financial statements presented below. Forward-Looking Statements This press release and the planned conference call include forward-looking statements regarding the Company's future expected business performance and financial results, including expectations about total revenue growth for 2025 and other statements identified by words such as 'could,' 'expects,' 'intends,' 'may,' 'plans,' 'potential,' 'should,' 'will,' 'would,' or similar expressions and the negatives of those terms, that are subject to future events and circumstances. Other than statements of historical fact, all statements contained in this press release and the planned conference call are forward-looking statements within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those expressed in these forward-looking statements. Risks and uncertainties that could cause results to differ materially include risks associated with: the effectiveness of the Company's business and technology strategies; current semiconductor industry trends and competition; rates of adoption of the Company's solutions by new and existing customers; project milestones or delays and performance criteria achieved; cost and schedule of new product development and investments in research and development; the continuing impact of macroeconomic conditions, including inflation, changing interest rates and tariffs, the evolving trade regulatory environment and geopolitical tensions, and other trends on the semiconductor industry, the Company's customers, operations, and supply and demand for its products; supply chain disruptions; the success of the Company's strategic growth opportunities and partnerships; recent and future acquisitions, strategic alliances and relationships and the Company's ability to successfully integrate acquired businesses and technologies; whether the Company can successfully convert backlog into revenue; customers' production volumes under contracts that provide Gainshare; the sufficiency of the Company's cash resources and anticipated funds from operations; the Company's ability to obtain additional financing if needed and its ability to use support and updates for certain open-source software; and other risks set forth in PDF Solutions' periodic public filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K and amendments to such reports. The forward-looking statements made in this press release and the conference call are made as of the date hereof, and PDF Solutions does not assume any obligation to update such statements nor the reasons why actual results could differ materially from those projected in such statements. The Company has not filed its Annual Report on Form 10-K for the year ended December 31, 2024. As a result, all financial results described in this earnings release should be considered preliminary, and are subject to change to reflect any necessary adjustments or changes in accounting estimates, that are identified prior to the time the Company files its Annual Report on Form 10-K. About PDF Solutions PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystem to improve manufacturing yield, product quality and operational efficiency leading to increased profitability. The Company's products and services are used by Fortune 500 companies across the semiconductor and electronics ecosystem to achieve smart manufacturing goals by connecting and controlling manufacturing equipment, collecting data generated during manufacturing and test operations, and using advanced analytics and machine learning models to enable profitable, high-volume manufacturing. Founded in 1991, PDF Solutions is headquartered in Santa Clara, California, with operations across North America, Europe, and Asia. The Company (directly or through one or more subsidiaries) is an active member of SEMI, INEMI, TPCA, IPC, the OPC Foundation, and DMDII. For the latest news and information about PDF Solutions or to find office locations, visit PDF Solutions and the PDF Solutions logo are trademarks or registered trademarks of PDF Solutions, Inc. or its subsidiaries. PDF SOLUTIONS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (In thousands) December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 90,594 $ 98,978 Short-term investments 24,291 36,544 Accounts receivable, net 73,649 44,904 Prepaid expenses and other current assets 17,445 17,422 Total current assets 205,979 197,848 Property and equipment, net 48,465 37,338 Operating lease right-of-use assets, net 4,029 4,926 Goodwill 14,953 15,029 Intangible assets, net 12,307 15,620 Deferred tax assets, net 43 157 Other non-current assets 29,513 19,218 Total assets $ 315,289 $ 290,136 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 8,255 $ 2,561 Accrued compensation and related benefits 16,855 14,800 Accrued and other current liabilities 8,752 4,633 Operating lease liabilities ‒ current portion 1,675 1,529 Deferred revenues ‒ current portion 24,930 25,750 Billings in excess of recognized revenues 75 1,570 Total current liabilities 60,542 50,843 Long-term income taxes 2,915 2,972 Non-current operating lease liabilities 3,504 4,657 Other non-current liabilities 2,291 2,718 Total liabilities 69,252 61,190 Stockholders' equity: Common stock and additional paid-in capital 502,908 473,301 Treasury stock, at cost (159,352) (143,923) Accumulated deficit (93,988) (98,045) Accumulated other comprehensive loss (3,531) (2,387) Total stockholders' equity 246,037 228,946 Total liabilities and stockholders' equity $ 315,289 $ 290,136 PDF SOLUTIONS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (In thousands, except per share amounts) Three months ended Year ended December 31, September 30, December 31, December 31, December 31, 2024 2024 2023 2024 2023 Revenues: Analytics $ 47,926 $ 44,750 $ 39,128 $ 169,253 $ 152,085 Integrated yield ramp 2,159 1,659 1,997 10,212 13,750 Total revenues 50,085 46,409 41,125 179,465 165,835 Costs and Expenses: Costs of revenues 15,901 12,484 13,194 54,144 51,749 Research and development 14,417 13,516 12,308 53,566 50,736 Selling, general, and administrative 19,073 18,094 16,194 69,924 62,216 Amortization of acquired intangible assets 182 196 306 896 1,285 Interest and other expense (income), net (962) (1,511) (1,020) (5,644) (5,020) Income before income tax benefit (expense) 1,474 3,630 143 6,579 4,869 Income tax benefit (expense) (935) (1,424) 744 (2,522) (1,764) Net income $ 539 $ 2,206 $ 887 $ 4,057 $ 3,105 Net income per share: Basic $ 0.01 $ 0.06 $ 0.02 $ 0.11 $ 0.08 Diluted $ 0.01 $ 0.06 $ 0.02 $ 0.10 $ 0.08 Weighted average common shares used to calculate net income per share: Basic 38,783 38,710 38,269 38,602 38,015 Diluted 39,104 39,105 38,814 39,047 38,937 PDF SOLUTIONS, INC. RECONCILIATION OF GAAP GROSS MARGIN TO NON-GAAP GROSS MARGIN (UNAUDITED) (In thousands) Three months ended Year ended December 31, September 30, December 31, December 31, December 31, 2024 2024 2023 2024 2023 GAAP Total revenues $ 50,085 $ 46,409 $ 41,125 $ 179,465 $ 165,835 Costs of revenues 15,901 12,484 13,194 54,144 51,749 GAAP gross profit $ 34,184 $ 33,925 $ 27,931 $ 125,321 $ 114,086 GAAP gross margin 68 % 73 % 68 % 70 % 69 % Non-GAAP GAAP gross profit $ 34,184 $ 33,925 $ 27,931 $ 125,321 $ 114,086 Adjustments to reconcile GAAP to non-GAAP gross margin: Stock-based compensation expense 1,336 1,366 1,147 5,087 4,169 Amortization of acquired technology 583 584 586 2,335 2,266 Non-GAAP gross profit $ 36,103 $ 35,875 $ 29,664 $ 132,743 $ 120,521 Non-GAAP gross margin 72 % 77 % 72 % 74 % 73 % PDF SOLUTIONS, INC. RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME (UNAUDITED) (In thousands, except per share amounts) Three months ended Year ended December 31, September 30, December 31, December 31, December 31, 2024 2024 2023 2024 2023 GAAP net income $ 539 $ 2,206 $ 887 $ 4,057 $ 3,105 Adjustments to reconcile GAAP net income to non-GAAP net income: Stock-based compensation expense 6,507 6,730 5,923 25,047 21,484 Amortization of acquired technology under costs of revenues 583 584 586 2,335 2,266 Amortization of other acquired intangible assets 182 196 306 896 1,285 Expenses for certain legal proceedings (1) 69 — 75 69 2,600 Non-recurring legal, tax and accounting service-related costs 940 — — 940 209 Loss on damaged equipment in-transit, net of (recovery) from previously written-off property and equipment 663 (55) — 608 (105) Tax impact of valuation allowance for deferred tax assets and reconciling items (2) 375 262 (2,060) (1,335) (2,374) Non-GAAP net income $ 9,858 $ 9,923 $ 5,717 $ 32,617 $ 28,470 GAAP net income per diluted share $ 0.01 $ 0.06 $ 0.02 $ 0.10 $ 0.08 Non-GAAP net income per diluted share $ 0.25 $ 0.25 $ 0.15 $ 0.84 $ 0.73 Weighted average common shares used in GAAP net income per diluted share calculation 39,104 39,105 38,814 39,047 38,937 Weighted average common shares used in non-GAAP net income per diluted share calculation 39,104 39,105 38,814 39,047 38,937 (1) Represents legal costs and expenses related to certain litigation and an arbitration proceeding which are expected to continue until these matters are resolved. (2) The difference between the GAAP and non-GAAP income tax provisions is primarily due to the valuation allowance on a GAAP basis and non-GAAP adjustments. For example, on a GAAP basis, the Company does not receive a deferred tax benefit for foreign tax credits or research and development credits after the valuation allowance. The Company's non-GAAP tax rate and resulting non-GAAP tax expense is not calculated with a full U.S. federal or state valuation allowance due to the Company's cumulative non-GAAP income and management's conclusion that it is more likely than not to utilize its net deferred tax assets (DTAs). Each reporting period, management evaluates the need for a valuation allowance and may place a valuation allowance against its U.S. net DTAs on a non-GAAP basis if it concludes it is more likely than not that it will not be able to utilize some or all of its U.S. DTAs on a non-GAAP basis.
