PDF Solutions, Inc. (PDF Solutions) has reported total revenues of $74.03 million for the year-end 2008, compared with the total revenues of $94.5 million in the previous year-end. It has also reported a net loss of $95.7 million, or $3.48 loss per share, for the year-end 2008, compared with the net income of $2.93 million, or $0.10 loss per share, in the previous year-end.
Total revenue for the fourth fiscal quarter of 2008 totaled $13.8 million, down 26% from $18.8 million in the third fiscal quarter of 2008 and down 44% when compared with total revenue of $24.6 million for the fourth fiscal quarter of 2007. Gain share revenue totaled $2.5 million, down 53% from $5.4 million in the third fiscal quarter of 2008 and down 61% when compared to gain share revenue of $6.5 million for the fourth fiscal quarter of 2007.
Net loss for the fourth fiscal quarter was $79.1 million, or $2.92 per basic and diluted share, compared to a net loss of $12.2 million, or $0.44 per basic and diluted share in the third fiscal quarter of 2008 and net income for the fourth fiscal quarter of 2007 of $1.1 million, or $0.04 per basic and diluted share.
In addition to using GAAP results in evaluating PDF Solutions’ business, management also believes it is useful to measure results using a non-GAAP measure of net income (loss), which excludes stock-based compensation expense, amortization of acquired technology and intangible assets, restructuring charges, impairment charges on goodwill and certain intangible assets, and their related income tax effects, as applicable. Using this non-GAAP measure, the non-GAAP net loss for the fourth fiscal quarter of 2008 totaled $3.8 million or $0.14 per basic and diluted share, compared with non-GAAP net income of $5.9 million, or $0.21 per basic and diluted share, for the fourth fiscal quarter of 2007.
During the fourth quarter ended December 31, 2008, PDF Solutions utilized a portion of the $10 million share repurchase plan previously authorized by its board of directors to repurchase 1.7 million of its shares on the open market at a weighted average cost of $2.26 per share, for a total repurchase value of $3.8 million. Early in the fourth quarter ended December 31, 2008, PDF Solutions completed its acquisition of the fault detection and classification business of Triant Holdings, Inc., a British Columbia corporation utilizing an additional $1.6 million. Additional information regarding this acquisition is described in the filings by the Company with the Securities and Exchange Commission on September 2, 2008 and October 14, 2008 on Form 8-K.