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MENTOR GRAPHICS CORPORATION |
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UNAUDITED RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES |
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| (In thousands, except percentages) | ||||||||||||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP gross profit | $ | 211,304 | $ | 208,359 | $ | 406,012 | $ | 394,693 | ||||||||||
| Reconciling items to non-GAAP gross profit: | ||||||||||||||||||
| Equity plan-related compensation | 544 | 458 | 1,079 | 918 | ||||||||||||||
| Amortization of purchased technology | 1,841 | 712 | 3,202 | 1,919 | ||||||||||||||
| Non-GAAP gross profit | $ | 213,689 | $ | 209,529 | $ | 410,293 | $ | 397,530 | ||||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP gross profit as a percent of total revenues | 81.2 | % | 82.3 | % | 79.2 | % | 82.3 | % | ||||||||||
| Non-GAAP adjustments detailed above | 0.9 | % | 0.4 | % | 0.9 | % | 0.6 | % | ||||||||||
| Non-GAAP gross profit as a percent of total revenues | 82.1 | % | 82.7 | % | 80.1 | % | 82.9 | % | ||||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP operating expenses | $ | 194,392 | $ | 181,781 | $ | 387,456 | $ | 362,222 | ||||||||||
| Reconciling items to non-GAAP operating expenses: | ||||||||||||||||||
| Equity plan-related compensation | (8,616 | ) | (6,819 | ) | (16,210 | ) | (12,925 | ) | ||||||||||
| Amortization of Frontline purchased technology and other | ||||||||||||||||||
| identified intangible assets | - | (231 | ) | (116 | ) | (968 | ) | |||||||||||
| Amortization of other identified intangible assets | (2,026 | ) | (1,556 | ) | (3,776 | ) | (3,210 | ) | ||||||||||
| Special charges | (5,108 | ) | (3,859 | ) | (11,034 | ) | (7,882 | ) | ||||||||||
| Non-GAAP operating expenses | $ | 178,642 | $ | 169,316 | $ | 356,320 | $ | 337,237 | ||||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP operating income | $ | 16,912 | $ | 26,578 | $ | 18,556 | $ | 32,471 | ||||||||||
| Reconciling items to non-GAAP operating income: | ||||||||||||||||||
| Equity plan-related compensation | $ | 9,160 | $ | 7,277 | $ | 17,289 | $ | 13,843 | ||||||||||
| Amortization of purchased technology | 1,841 | 712 | 3,202 | 1,919 | ||||||||||||||
| Amortization of Frontline purchased technology and other | ||||||||||||||||||
| identified intangible assets | - | 231 | 116 | 968 | ||||||||||||||
| Amortization of other identified intangible assets | 2,026 | 1,556 | 3,776 | 3,210 | ||||||||||||||
| Special charges | 5,108 | 3,859 | 11,034 | 7,882 | ||||||||||||||
| Non-GAAP operating income | $ | 35,047 | $ | 40,213 | $ | 53,973 | $ | 60,293 | ||||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP operating income as a percent of total revenues | 6.5 | % | 10.5 | % | 3.6 | % | 6.8 | % | ||||||||||
| Non-GAAP adjustments detailed above | 7.0 | % | 5.4 | % | 6.9 | % | 5.8 | % | ||||||||||
| Non-GAAP operating income as a percent of total revenues | 13.5 | % | 15.9 | % | 10.5 | % | 12.6 | % | ||||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP other income (expense), net and interest expense | $ | (4,911 | ) | $ | (5,169 | ) | $ | (9,754 | ) | $ | (10,913 | ) | ||||||
| Reconciling items to non-GAAP other income (expense), net | ||||||||||||||||||
| and interest expense: | ||||||||||||||||||
| Equity in earnings of unconsolidated entities | 55 | (42 | ) | 68 | (93 | ) | ||||||||||||
| Amortization of original issuance debt discount | 1,521 | 1,416 | 3,015 | 2,807 | ||||||||||||||
| Non-GAAP other income (expense), net and interest expense | $ | (3,335 | ) | $ | (3,795 | ) | $ | (6,671 | ) | $ | (8,199 | ) | ||||||
Mentor Graphics Reports Fiscal Second Quarter Results
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