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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 October 31, | Nine Months Ended October 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP gross profit | $ | 245,142 | $ | 229,570 | $ | 651,154 | $ | 624,263 | ||||||||||
| Reconciling items to non-GAAP gross profit: | ||||||||||||||||||
| Equity plan-related compensation | 608 | 520 | 1,687 | 1,438 | ||||||||||||||
| Amortization of purchased technology | 2,050 | 729 | 5,252 | 2,648 | ||||||||||||||
| Non-GAAP gross profit | $ | 247,800 | $ | 230,819 | $ | 658,093 | $ | 628,349 | ||||||||||
| Three Months Ended October 31, | Nine Months Ended October 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP gross profit as a percent of total revenues | 83.8 | % | 83.3 | % | 80.9 | % | 82.6 | % | ||||||||||
| Non-GAAP adjustments detailed above | 0.9 | % | 0.4 | % | 0.8 | % | 0.6 | % | ||||||||||
| Non-GAAP gross profit as a percent of total revenues | 84.7 | % | 83.7 | % | 81.7 | % | 83.2 | % | ||||||||||
| Three Months Ended October 31, | Nine Months Ended October 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP operating expenses | $ | 215,419 | $ | 196,198 | $ | 602,875 | $ | 558,420 | ||||||||||
| Reconciling items to non-GAAP operating expenses: | ||||||||||||||||||
| Equity plan-related compensation | (8,494 | ) | (6,906 | ) | (24,704 | ) | (19,831 | ) | ||||||||||
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Amortization of Frontline purchased technology and other identified intangible assets |
- | (231 | ) | (116 | ) | (1,199 | ) | |||||||||||
| Amortization of other identified intangible assets | (2,233 | ) | (1,440 | ) | (6,009 | ) | (4,650 | ) | ||||||||||
| Special charges | (8,375 | ) | (4,688 | ) | (19,409 | ) | (12,570 | ) | ||||||||||
| Non-GAAP operating expenses | $ | 196,317 | $ | 182,933 | $ | 552,637 | $ | 520,170 | ||||||||||
| Three Months Ended October 31, | Nine Months Ended October 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP operating income | $ | 29,723 | $ | 33,372 | $ | 48,279 | $ | 65,843 | ||||||||||
| Reconciling items to non-GAAP operating income: | ||||||||||||||||||
| Equity plan-related compensation | 9,102 | 7,426 | 26,391 | 21,269 | ||||||||||||||
| Amortization of purchased technology | 2,050 | 729 | 5,252 | 2,648 | ||||||||||||||
| Amortization of Frontline purchased technology and other | ||||||||||||||||||
| identified intangible assets | - | 231 | 116 | 1,199 | ||||||||||||||
| Amortization of other identified intangible assets | 2,233 | 1,440 | 6,009 | 4,650 | ||||||||||||||
| Special charges | 8,375 | 4,688 | 19,409 | 12,570 | ||||||||||||||
| Non-GAAP operating income | $ | 51,483 | $ | 47,886 | $ | 105,456 | $ | 108,179 | ||||||||||
| Three Months Ended October 31, | Nine Months Ended October 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP operating income as a percent of total revenues | 10.2 | % | 12.1 | % | 6.0 | % | 8.7 | % | ||||||||||
| Non-GAAP adjustments detailed above | 7.4 | % | 5.3 | % | 7.1 | % | 5.6 | % | ||||||||||
| Non-GAAP operating income as a percent of total revenues | 17.6 | % | 17.4 | % | 13.1 | % | 14.3 | % | ||||||||||
| Three Months Ended October 31, | Nine Months Ended October 31, | |||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||||
| GAAP other income (expense), net and interest expense | $ | (5,315 | ) | $ | (4,615 | ) | $ | (15,069 | ) | $ | (15,528 | ) | ||||||
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Reconciling items to non-GAAP other income (expense), net and interest expense: |
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| Equity in earnings of unconsolidated entities | 78 | (33 | ) | 146 | (126 | ) | ||||||||||||
| Amortization of original issuance debt discount | 1,548 | 1,441 | 4,563 | 4,248 | ||||||||||||||
| Non-GAAP other income (expense), net and interest expense | $ | (3,689 | ) | $ | (3,207 | ) | $ | (10,360 | ) | $ | (11,406 | ) | ||||||
Mentor Graphics Reports Fiscal Third Quarter Results
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