Kulicke and Soffa Industries (KLIC) 8-K Kulicke & Soffa Reports Results for its First Quarter 2008

Exhibit 99.1

Kulicke & Soffa Reports Results for its First Quarter 2008

Fort Washington, PA – January 24, 2008 – Kulicke & Soffa Industries, Inc. (NASDAQ:KLIC) (“K&S”) today reports results for its quarter ended December 29, 2007. K&S announced quarterly net revenue of $226.3 million, net income of $16.4 million and diluted earnings per share (“EPS”) of $0.27. This press release contains both GAAP and non-GAAP financial information.

On a non-GAAP basis, first quarter net revenue was $134.9 million and gross margin was 43.6%, which is up 170 basis points from the prior quarter.

GAAP Results:

	Q1 2008	vs. Q1 2007	vs. Q4 2007
Net Revenue	$226.3 million	+ 49%	- 4%
Gross Profit Gross Margin	$58.7 million 26.0%	+ 52% + 60 basis points	- 13% - 260 basis points
Net Income Net Margin	$16.4 million 7.2%	+ 290% + 450 basis points	- 46% - 560 basis points
EPS- Diluted	$0.27	+ 350%	- 43%

Non-GAAP Measures:

	Q1 2008	vs. Q1 2007	vs. Q4 2007
Net Revenue	$134.9 million	+ 66%	- 17%
Gross Profit Gross Margin	$58.8 million 43.6%	+ 52% - 410 basis points	- 13% + 170 basis points
Net Income Net Margin	$18.3 million 13.5%	+ 211% + 630 basis points	- 36% - 420 basis points
EPS- Diluted	$0.30	+ 233%	- 33%

Note 1- Non-GAAP measures exclude: gold metal cost from both net revenue and cost of sales; equity-based compensation from expenses; amortization of intangibles; and gain on debt extinguishment (see reconciliations of GAAP results to Non-GAAP measures in the attached financial schedules).

Note 2- Non-GAAP quarterly measures for fiscal 2007 are also included in the attached financial schedules to provide investors with a complete reference/benchmark for the prior four quarters and fiscal year.

Scott Kulicke, chairman and chief executive officer, commented, “This quarter, our gross margin was 43.6% and net margin was 13.5%, both on a non-GAAP basis. We believe these measures demonstrate the strength of the Company’s leadership in technology, product cost, and customer relationships.” He added, “We are especially pleased with our packaging materials segment, which produced very good results this quarter. Revenue, unit volumes, gross margins, and operating income all improved over the September quarter.”

First Quarter Financial Highlights

• K&S packaging materials segment gross profit margin, on a non-GAAP basis, improved 660 basis points to 62.3% from 55.7% in the prior quarter. The improved gross profit margin was primarily the result of increased volume.

• K&S equipment segment maintained its gross profit margin on lower revenue in the first quarter. The prior quarter’s gross profit margin was 39.4% on $136.6 million of sales compared to 38.8% on $107.5 million of sales in the first fiscal quarter.

• K&S non-GAAP consolidated gross profit margin improved 170 basis points to 43.6% from 41.9% in the prior quarter. On a non-GAAP basis, the improved gross profit margin is primarily the result of a higher percentage of packaging materials in our overall product mix.

Key Product Trends

• The K&S next-generation ball bonder met or exceeded all K&S and customer specifications during a three-week evaluation by a key Japanese semiconductor manufacturer. The extensive test confirmed the new machine had higher throughput while meeting the customer’s quality and yield expectations.

• K&S copper wire net revenue continued to grow as more customers view copper as an alternative to rising gold wire prices. K&S Maxsoft copper wire revenue grew 5% compared to the prior quarter and 45% compared to the year-ago quarter.

• K&S Fortus and Nexxus capillary models experienced high growth rates during the first quarter. Both of these capillaries have demonstrated superior performance.

Outlook for Second Fiscal Quarter

• Net revenue is expected to be about $180 million on a GAAP basis assuming current gold prices.

• Net revenue is expected to be about $85 million on a non-GAAP basis, excluding gold metal cost.

Earnings Conference Call Details

A conference call to discuss these results will be held today, January 24, 2008 beginning at 9:00 AM EST. Interested participants may call 877-407-8037 for the teleconference or log on tohttp://www.kns.com/investors/events for listen-only mode. A replay will be available approximately one hour after the completion of the call by calling toll free 877-660-6853 or internationally 201-612-7415 and using the following replay access codes 5521 (account number) and 268661 (replay ID number). A replay will also be available on the K&S web site athttp://www.kns.com/investors/events. The replay will be available via phone and web site through March 30, 2008.

Discussion of Non-GAAP financials

This press release contains non-GAAP financial measures as a supplement to the consolidated financial results presented in accordance with GAAP. The Company believes certain non-GAAP measures provide investors with an additional, useful perspective on the Company’s performance as seen through the eyes of management. Management uses non-GAAP financial measures along with GAAP financial results for: analyzing the performance of the Company’s businesses; strategic and tactical decision making; and determining compensation. The Company does not consider non-GAAP financial measures to be a substitute for, or superior to, financial results presented in accordance with GAAP. All of the non-GAAP financial measures included herein are reconciled to the most directly comparable GAAP results in the attached financial statements. These non-GAAP measures may be calculated differently from non-GAAP measures used by other companies. In addition, these non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles and some of the adjustments reflect the exclusion of items that are recurring and will be reflected in the Company’s GAAP financial results for the foreseeable future.

Exclusions from GAAP Results

The Company excludes the following from its GAAP results in presenting non-GAAP financial measures:

— Gold metal cost.The Company’s GAAP net revenue and cost of sales include the value of the gold metal content of wire. The cost of gold metal that is passed-through to customers is excluded from non-GAAP net revenue and cost of sales. Fabrication charges and profit on gold metal are not excluded. The Company believes that excluding the large impact of passed-through gold cost can provide investors with greater visibility into the Company’s profit margin percentages.

—Equity-based compensation expenses. In accordance with Statement of Financial Accounting Standards (“SFAS”) No. 123R, Share Based Payments, the Company recognizes the fair value of its equity-based compensation in expenses. Equity-based compensation consists of stock options and performance-based restricted stock granted under the Company’s equity compensation plans. Equity-based compensation is a non-cash expense that can vary significantly in amount from period to period.

—Other. The exclusion of certain other non-GAAP amounts allows for improved comparisons of the Company’s results to both prior periods and other companies. The Company excludes the following other items from non-GAAP measures as these items are not reflective of the performance of the Company’s ongoing businesses:

• Gains on debt extinguishment, and;

• Amortization of intangibles.

—Tax Adjustment. Non-GAAP results were tax adjusted using the tax rate associated with each period.

Non-GAAP Measures

The specific non-GAAP measures included herein are net revenue, gross profit, gross margin, net income, net margin, and EPS. The Company calculates these measures as follows:

—Net Revenue. K&S non-GAAP net revenue excludes gold metal cost that is passed-through to customers.

—Gross Profit. K&S non-GAAP gross profit excludes the effects of equity-based compensation expense recorded within cost of sales. K&S non-GAAP gross profit is not affected by the exclusion of its gold metal cost from its net revenue since the same gold metal cost is also excluded from cost of sales.

—Gross Margin. K&S non-GAAP gross margin excludes the impact of gold metal cost and equity-based compensation expenses recorded within cost of sales.

—Net Income and Earnings per Share. K&S non-GAAP net income and EPS exclude equity-based compensation expenses, amortization of intangibles, gains on debt extinguishment, and related tax effects.

—Net Margin. Non-GAAP net margin reflects the Company’s net margin excluding gold metal cost, equity-based compensation, amortization of intangibles, gains on debt extinguishment, and related tax effects.

About Kulicke & Soffa

Kulicke & Soffa (NASDAQ: KLIC) is the world’s leading supplier of semiconductor assembly equipment, materials, and technology. K&S provides wire bonders, capillaries, wire, die bonders, and die collets for all types of semiconductor packages using wire as the internal electrical interconnections. K&S is the only major supplier to the semiconductor assembly industry that provides customers with semiconductor assembly equipment along with the complementing packaging materials and process technology that enable our customers to achieve the highest possible yields and throughput. The ability to provide these assembly related products is unique to Kulicke & Soffa, and allows us to develop system solutions to the new technology challenges inherent in assembling and packaging next-generation semiconductor devices. Kulicke & Soffa’s web site address ishttp://www.kns.com.

Caution Concerning Forward Looking Statements

In addition to historical statements, this press release contains statements relating to future events and our future results. These statements are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, and include, but are not limited to, statements that relate to our future revenue, revenue growth, sales, profitability, financial results, unit volumes, product development, release of products, industry forecasts, market share, the semiconductor business cycle, the price of gold metal, and projected continued demand for our products. While these forward-looking statements represent our judgments and future expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to: the risk of failure to successfully manage our operations; the risk that anticipated orders may not materialize or that orders received may be postponed or canceled, generally without charges; the volatility in the demand for semiconductors and our products and services; the risk that we may not be able to develop and manufacture new products and product enhancements on a timely and cost effective basis; acts of terrorism and violence; overall global economic conditions; risks, such as changes in trade regulations, currency fluctuations, political instability and war, associated with a substantial foreign customer and supplier base and substantial foreign manufacturing operations; potential instability in foreign capital markets; and the factors listed or discussed in Kulicke and Soffa Industries, Inc. 2007 Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission. Kulicke & Soffa Industries is under no obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Company Contact: Michael Sheaffer, 215-784-6411, 215-784-6167 fax,msheaffer@kns.com

# # #

KULICKE & SOFFA INDUSTRIES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share and employee data)

(Unaudited)

	Three months ended
	December 30,			December 29,
	2006			2007
Net revenue	$	152,308		$	226,250
Cost of sales		113,589			167,510
Gross profit		38,719			58,740
Selling, general and administrative		22,655			26,348
Research and development		11,825			14,928
Total operating expenses		34,480			41,276
Income from operations		4,239			17,464
Interest income		1,457			1,569
Interest expense		(636	)		(872	)
Gain on extinguishment of debt		—			170
Income from operations before income taxes		5,060			18,331
Provision for income taxes		887			1,969
Net income	$	4,173		$	16,362
Net income per share:
Basic	$	0.07		$	0.31
Diluted	$	0.06		$	0.27
Weighted average shares outstanding:
Basic		57,301			53,264
Diluted		69,456			62,425
Equity-based compensation expense:
Cost of sales	$	67		$	67
Selling, general and administrative		1,451			1,470
Research and development		548			707
Total	$	2,066		$	2,244
	Three months ended
	December 30,			December 29,
	2006			2007
Additional financial data:
Depreciation and amortization	$	2,305		$	2,344
Capital expenditures	$	1,100		$	2,773
Backlog of orders	$	56,000		$	76,000
Number of employees		2,700			2,770

KULICKE & SOFFA INDUSTRIES, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands)

	September 29, 2007			(Unaudited) December 29, 2007
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	150,571		$	120,995
Short-term investments		19,339			17,832
Accounts and notes receivable, net of allowance for doubtful accounts of $1,713 and $2,037, respectively		177,512			199,421
Inventories, net		68,955			65,192
Prepaid expenses and other current assets		14,201			19,977
Deferred income taxes		3,631			3,517
TOTAL CURRENT ASSETS		434,209			426,934
Property, plant and equipment, net		37,953			39,483
Goodwill		33,212			32,393
Intangible assets		500			458
Other assets		6,726			6,580
TOTAL ASSETS	$	512,600		$	505,848
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Current portion of long term debt	$	—		$	72,412
Accounts payable		82,615			60,172
Accrued expenses		37,170			33,359
Income taxes payable		22,665			—
TOTAL CURRENT LIABILITIES		142,450			165,943
Long term debt		251,412			175,000
Other liabilities		12,335			37,434
Deferred income taxes		23,148			23,296
TOTAL LIABILITIES		429,345			401,673
SHAREHOLDERS’ EQUITY
Common stock, no par value		288,714			291,424
Treasury stock, at cost		(46,118	)		(46,118	)
Accumulated deficit		(154,094	)		(136,925	)
Accumulated other comprehensive loss		(5,247	)		(4,206	)
TOTAL SHAREHOLDERS’ EQUITY		83,255			104,175
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	512,600		$	505,848

KULICKE & SOFFA INDUSTRIES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

	Three months ended
	December 30, 2006			December 29, 2007
Net cash provided by (used in) continuing operations	$	11,298		$	(24,525	)
Net cash used in discontinued operations		(964	)		(368	)
Net cash provided by (used in) operating activities		10,334			(24,893	)
Net cash used in investing activities		(17,591	)		(1,271	)
Net cash provided by (used in) financing activities		1,037			(3,624	)
Effect of exchange rate changes on cash and cash equivalents		151			212
Changes in cash and cash equivalents		(6,069	)		(29,576	)
Cash and cash equivalents, beginning of period		133,967			150,571
Cash and cash equivalents, end of period	$	127,898		$	120,995
Short-term investments		11,560			17,832
Total cash, cash equivalents & short-term investments	$	139,458		$	138,827

KULICKE & SOFFA INDUSTRIES, INC.

OPERATING RESULTS BY BUSINESS SEGMENT

(In thousands)

(Unaudited)

Fiscal 2008:
	Equipment Segment			Packaging Materials Segment		Consolidated
Three months ended December 29, 2007:
Net revenue	$	107,458		$	118,792	$	226,250
Cost of sales		65,784			101,726		167,510
Gross profit		41,674			17,066		58,740
Operating expenses		31,793			9,483		41,276
Income from operations	$	9,881		$	7,583	$	17,464
Fiscal 2007:
	Equipment Segment			Packaging Materials Segment		Consolidated
Three months ended December 30, 2006:
Net revenue	$	58,166		$	94,142	$	152,308
Cost of sales		33,176			80,413		113,589
Gross profit		24,990			13,729		38,719
Operating expenses		25,194			9,286		34,480
Income (loss) from operations	$	(204	)	$	4,443	$	4,239

KULICKE & SOFFA INDUSTRIES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS—SUMMARY

COMPARISON OF GAAP RESULTS TO NON-GAAP MEASURES

(In thousands, except share amounts)

(Unaudited)

	Three months ended December 30,		Three months ended September 29,		Three months ended December 29,
	2006		2007		2007
		(GAAP results)
Net revenue	$	152,308	$	236,757	$	226,250
Gross profit		38,719		67,741		58,740
Income from operations		4,239		29,986		17,464
Net income		4,173		30,251		16,362
Weighted average shares outstanding:
Basic		57,301		53,546		53,264
Diluted		69,456		64,702		62,425
Net income per share
Basic	$	0.07	$	0.56	$	0.31
Diluted	$	0.06	$	0.47	$	0.27
		(Non-GAAP measures)
Net revenue	$	81,302	$	161,689	$	134,881
Gross profit		38,786		67,786		58,807
Income from operations		6,305		30,947		19,752
Net income		5,877		28,610		18,252
Weighted average shares outstanding:
Basic		57,301		53,546		53,264
Diluted		69,456		64,702		62,425
Net income per share
Basic	$	0.10	$	0.53	$	0.34
Diluted	$	0.09	$	0.45	$	0.30

KULICKE & SOFFA INDUSTRIES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

RECONCILIATION OF GAAP RESULTS TO NON-GAAP MEASURES

(In thousands, except share amounts)

(Unaudited)

	Three months ended December 30,			% of		Three months ended September 29,			% of		Three months ended December 29,			% of
	2006			Revenue		2007			Revenue		2007			Revenue
Net revenue (GAAP results)	$	152,308				$	236,757				$	226,250
- Gold Metal adjustment		(71,006	)				(75,068	)				(91,369	)
Net revenue (Non-GAAP measures)		81,302					161,689					134,881
Gross profit (GAAP results)		38,719		25.4	%		67,741		28.6	%		58,740		26.0	%
- Equity-based compensation expense		67					45					67
Gross profit (Non-GAAP measures)		38,786		47.7	%		67,786		41.9	%		58,807		43.6	%
Income from operations (GAAP results)		4,239		2.8	%		29,986		12.7	%		17,464		7.7	%
- Equity-based compensation expense		2,066					917					2,244
- Amortization of intangibles		—					44					44
Income from operations (Non-GAAP measures)		6,305		7.8	%		30,947		19.1	%		19,752		14.6	%
Net income (GAAP results)		4,173		2.7	%		30,251		12.8	%		16,362		7.2	%
- Equity-based compensation expense		2,066					917					2,244
- Amortization of intangibles		—					44					44
- Gain on extinguishment of debt		—					(2,802	)				(170	)
- Tax effect of non-GAAP adjustments		(362	)				200					(228	)
Net income (Non-GAAP measures)		5,877		7.2	%		28,610		17.7	%		18,252		13.5	%
Weighted average shares outstanding (GAAP & Non-GAAP)
Basic		57,301					53,546					53,264
Diluted		69,456					64,702					62,425
Net income per share (GAAP results)
Basic	$	0.07				$	0.56				$	0.31
Diluted	$	0.06				$	0.47				$	0.27
Adjustments to net income per share
Basic	$	0.03				$	(0.03	)			$	0.03
Diluted	$	0.03				$	(0.02	)			$	0.03
Net income per share (Non-GAAP measures)
Basic	$	0.10				$	0.53				$	0.34
Diluted	$	0.09				$	0.45				$	0.30

KULICKE & SOFFA INDUSTRIES, INC.

OPERATING RESULTS BY BUSINESS SEGMENT—SUMMARY

COMPARISON OF GAAP RESULTS TO NON-GAAP MEASURES

(In thousands)

(Unaudited)

	Equipment Segment			Packaging Materials Segment		Consolidated
Fiscal 2008:
Three months ended December 29, 2007:
		(GAAP results)
Net revenue	$	107,458		$	118,792	$	226,250
Gross profit		41,674			17,066		58,740
Income from operations		9,881			7,583		17,464
		(Non-GAAP measures)
Net revenue	$	107,458		$	27,423	$	134,881
Gross profit		41,710			17,097		58,807
Income from operations		11,713			8,039		19,752
Fiscal 2007:
Three months ended December 30, 2006:
		(GAAP results)
Net revenue	$	58,166		$	94,142	$	152,308
Gross profit		24,990			13,729		38,719
Income (loss) from operations		(204	)		4,443		4,239
		(Non-GAAP measures)
Net revenue	$	58,166		$	23,136	$	81,302
Gross profit		25,016			13,770		38,786
Income from operations		1,293			5,012		6,305
Three months ended September 29, 2007:
		(GAAP results)
Net revenue	$	136,645		$	100,112	$	236,757
Gross profit		53,820			13,921		67,741
Income (loss) from operations		25,537			4,449		29,986
		(Non-GAAP measures)
Net revenue	$	136,645		$	25,044	$	161,689
Gross profit		53,849			13,937		67,786
Income from operations		26,343			4,604		30,947

KULICKE & SOFFA INDUSTRIES, INC.

OPERATING RESULTS BY BUSINESS SEGMENT

RECONCILIATION OF GAAP RESULTS TO NON-GAAP MEASURES

(In thousands)

(Unaudited)

	Equipment Segment			% of Revenue		Packaging Materials Segment			% of Revenue		Consolidated
Fiscal 2008:
Three months ended December 29, 2007:
Net revenue (GAAP results)	$	107,458				$	118,792				$	226,250
- Gold metal adjustment		—					(91,369	)				(91,369	)
Net revenue (Non-GAAP measures)		107,458					27,423					134,881
Gross profit (GAAP results)		41,674		38.8	%		17,066		14.4	%		58,740
- Equity-based compensation expense:		36					31					67
Gross profit (Non-GAAP measures)		41,710		38.8	%		17,097		62.3	%		58,807
Income from operations (GAAP results)		9,881		9.2	%		7,583		6.4	%		17,464
- Equity-based compensation expense:		1,788					456					2,244
- Amortization of intangibles		44					—					44
Income from operations (Non-GAAP measures)		11,713		10.9	%		8,039		29.3	%		19,752
Fiscal 2007:
Three months ended December 30, 2006:
Net revenue (GAAP results)	$	58,166				$	94,142				$	152,308
- Gold metal adjustment		—					(71,006	)				(71,006	)
Net revenue (Non-GAAP measures)		58,166					23,136					81,302
Gross profit (GAAP results)		24,990		43.0	%		13,729		14.6	%		38,719
- Equity-based compensation expense:		26					41					67
Gross profit (Non-GAAP measures)		25,016		43.0	%		13,770		59.5	%		38,786
Income (loss) from operations (GAAP results)		(204	)	-0.4	%		4,443		4.7	%		4,239
- Equity-based compensation expense:		1,497					569					2,066
Income from operations (Non-GAAP measures)		1,293		2.2	%		5,012		21.7	%		6,305
Three months ended September 29, 2007:
Net revenue (GAAP results)	$	136,645				$	100,112				$	236,757
- Gold metal adjustment		—					(75,068	)				(75,068	)
Net revenue (Non-GAAP measures)		136,645					25,044					161,689
Gross profit (GAAP results)		53,820		39.4	%		13,921		13.9	%		67,741
- Equity-based compensation expense:		29					16					45
Gross profit (Non-GAAP measures)		53,849		39.4	%		13,937		55.7	%		67,786
Income from operations (GAAP results)		25,537		18.7	%		4,449		4.4	%		29,986
- Equity-based compensation expense:		762					155					917
- Amortization of intangibles		44					—					44
Income from operations (Non-GAAP measures)		26,343		19.3	%		4,604		18.4	%		30,947

KULICKE & SOFFA INDUSTRIES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS—SUMMARY

COMPARISON OF GAAP RESULTS TO NON-GAAP MEASURES

(In thousands, except per share amounts)

(Unaudited)

	Three months ended December 30,		Three months ended March 31,			Three months ended June 30,		Three months ended September 29,		Fiscal year ended September 29,
	2006		2007			2007		2007		2007
		(GAAP results)
Net revenue	$	152,308	$	142,714		$	168,625	$	236,757	$	700,404
Gross profit		38,719		31,681			42,793		67,741		180,934
Income (loss) from operations		4,239		(2,755	)		4,976		29,986		36,446
Net income (loss)		4,173		(2,214	)		5,520		30,251		37,730
Net income (loss) per share
Basic	$	0.07	$	(0.04	)	$	0.10	$	0.56	$	0.67
Diluted	$	0.06	$	(0.04	)	$	0.08	$	0.47	$	0.57
		(Non-GAAP measures)
Net revenue	$	81,302	$	71,093		$	94,601	$	161,689	$	408,685
Gross profit		38,786		31,747			42,851		67,786		181,170
Income (loss) from operations		6,305		(1,889	)		6,733		30,947		42,096
Net income (loss)		5,877		(1,518	)		7,112		28,610		40,081
Net income (loss) per share
Basic	$	0.10	$	(0.03	)	$	0.13	$	0.53	$	0.71
Diluted	$	0.09	$	(0.03	)	$	0.11	$	0.45	$	0.61

KULICKE & SOFFA INDUSTRIES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

RECONCILIATION OF GAAP RESULTS TO NON-GAAP MEASURES

(In thousands, except per share amounts)

(Unaudited)

	Three months ended December 30,			Three months ended March 31,			Three months ended June 30,			Three months ended September 29,			Fiscal year ended September 29,
	2006			2007			2007			2007			2007
Net revenue (GAAP results)	$	152,308		$	142,714		$	168,625		$	236,757		$	700,404
- Gold Metal adjustment		(71,006	)		(71,621	)		(74,024	)		(75,068	)		(291,719	)
Net revenue (Non-GAAP measures)		81,302			71,093			94,601			161,689			408,685
Gross profit (GAAP results)		38,719			31,681			42,793			67,741			180,934
- Equity-based compensation expense		67			66			58			45			236
Gross profit (Non-GAAP measures)		38,786			31,747			42,851			67,786			181,170
Income (loss) from operations (GAAP results)		4,239			(2,755	)		4,976			29,986			36,446
- Equity-based compensation expense		2,066			793			1,714			917			5,490
- Amortization of intangibles		—			73			43			44			160
Income (loss) from operations (Non-GAAP measures)		6,305			(1,889	)		6,733			30,947			42,096
Net income (loss) (GAAP results)		4,173			(2,214	)		5,520			30,251			37,730
- Equity-based compensation expense		2,066			793			1,714			917			5,490
- Amortization of intangibles		—			73			43			44			160
- Gain on extinguishment of debt		—			—			—			(2,802	)		(2,802	)
- Tax effect of non-GAAP adjustments		(362	)		(170	)		(165	)		200			(497	)
Net income (loss) (Non-GAAP measures)		5,877			(1,518	)		7,112			28,610			40,081
Weighted average shares outstanding (GAAP & Non-GAAP)
Basic		57,301			57,580			56,456			53,546			56,221
Diluted		69,456			57,580			68,951			64,702			68,274
Net income (loss) per share (GAAP results)
Basic	$	0.07		$	(0.04	)	$	0.10		$	0.56		$	0.67
Diluted	$	0.06		$	(0.04	)	$	0.08		$	0.47		$	0.57
Adjustments to net income (loss) per share
Basic	$	0.03		$	0.01		$	0.03		$	(0.03	)	$	0.04
Diluted	$	0.03		$	0.01		$	0.03		$	(0.02	)	$	0.04
Net income (loss) per share (Non-GAAP measures)
Basic	$	0.10		$	(0.03	)	$	0.13		$	0.53		$	0.71
Diluted	$	0.09		$	(0.03	)	$	0.11		$	0.45		$	0.61