FY 2015 Earnings

Reported December 29, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$56M	—	$26M	—	113.3%
Op. Income	$43M	—	$17M	—	147.8%
Gross Margin	94.4%	—	93.2%	—	1.2pp
Net Margin	12.7%	—	-23.8%	—	36.5pp
EPS (Diluted)	$0.36	—	$-0.31	—	216.1%

Revenue Flow

Item	Amount
REVENUE	$56M
Cost of Revenue	$3M
GROSS PROFIT	$53M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$10M
Other Expenses	$0
Operating Expenses	$10M
Cost & Expenses	$14M
OPERATING INCOME	$43M
Interest Income	$0
Interest Expense	$35M
Other Income/Expenses	-$36M
INCOME BEFORE TAX	$7M
Income Tax Expense	$0
Net Income from Continuing Ops	$7M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7M
D&A	$0
EBIT	$43M
EBITDA	$43M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$56M
Cost of Revenue	$3M
GROSS PROFIT	$53M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$10M
Other Expenses	$0
Operating Expenses	$10M
Cost & Expenses	$14M
OPERATING INCOME	$43M
Interest Income	$0
Interest Expense	$35M
Other Income/Expenses	-$36M
INCOME BEFORE TAX	$7M
Income Tax Expense	$0
Net Income from Continuing Ops	$7M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7M
D&A	$0
EBIT	$43M
EBITDA	$43M
EPS	$0
EPS Diluted	$0

Balance Sheet

Item	Amount
Cash & Equivalents	$12M
Short-Term Investments	$0
Net Receivables	$19M
Inventory	$0
Other Current Assets	-$31M
TOTAL CURRENT ASSETS	$32M
PP&E (Net)	$1M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	-$1M
TOTAL NON-CURRENT ASSETS	$881M
TOTAL ASSETS	$913M
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$818M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$9M
TOTAL NON-CURRENT LIABILITIES	$826M
TOTAL LIABILITIES	$826M
Common Stock	$86M
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$86M
Minority Interest	$0
TOTAL EQUITY	$86M
TOTAL LIABILITIES & EQUITY	$913M
Total Debt	$818M
Net Debt	$805M