diluted EPS was $0.05, non-GAAP diluted EPS was $0.39
Total company GAAP
revenue for the first quarter of fiscal 2020 was $247 million, up 16% year-over-year.
net income available to common shareholders was $11.8 million for fiscal year 2019, or $0.38 per diluted share, compared to net loss of ($2.7) million, or ($0.09) per diluted share for fiscal year 2018.
A reconciliation of our GAAP
net income (loss) and GAAP
earnings (loss) per share for Q2 2019 to our non-GAAP net income (loss) and earnings (loss) per share is provided below, together with corresponding reconciliations for the three month period ended June 30, 2019.
For the full year 2019, the company expects GAAP
earnings per share from continuing operations in a range of USD2.61 to USD2.66 .
In May 2016, the SEC issued interpretive guidance on non-GAAP financial measures that provided clarifying examples on presentation of these measures that is either misleading or gives them greater prominence than comparable GAAP
net loss for fiscal 2018 was $11.0 million, or ($0.22) per diluted share, compared to a loss of $40.0 million, or ($0.75) per diluted share, for fiscal 2017.
For example, applying a 20.Ox price earnings multiple to an adjusted EPS number of $3.00 per share would support a stock price expectation of $60.00; applying that same multiple to a GAAP
EPS figure of $2.50 would support a stock price expectation of $50.00.
If managers can meet their strategic objectives based on neutral reporting of solid operating performance, then they have no need to manage GAAP
earnings or report non-GAAP earnings to alter stakeholder perceptions.
Non-GAAP financial measures do not include operating or other statistics that are not financial in nature or measures that are based on GAAP
total revenue was $910.1 million for the quarter ended September 30, 2010.
Non-GAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP
. A complete reconciliation of GAAP
to non-GAAP results is attached to this press release.