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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, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP gross profit | $ | 243,627 | $ | 245,142 | $ | 701,518 | $ | 651,154 | ||||||||||
| Reconciling items to non-GAAP gross profit: | ||||||||||||||||||
| Equity plan-related compensation | 665 | 608 | 1,981 | 1,687 | ||||||||||||||
| Amortization of purchased technology | 1,844 | 2,050 | 5,496 | 5,252 | ||||||||||||||
| Non-GAAP gross profit | $ | 246,136 | $ | 247,800 | $ | 708,995 | $ | 658,093 | ||||||||||
| Three Months Ended October 31, | Nine Months Ended October 31, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP gross profit as a percent of total revenues | 83.9 | % | 83.8 | % | 83.1 | % | 80.9 | % | ||||||||||
| Non-GAAP adjustments detailed above | 0.8 | % | 0.9 | % | 0.9 | % | 0.8 | % | ||||||||||
| Non-GAAP gross profit as a percent of total revenues | 84.7 | % | 84.7 | % | 84.0 | % | 81.7 | % | ||||||||||
| Three Months Ended October 31, | Nine Months Ended October 31, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP operating expenses | $ | 217,939 | $ | 215,419 | $ | 644,227 | $ | 602,875 | ||||||||||
| Reconciling items to non-GAAP operating expenses: | ||||||||||||||||||
| Equity plan-related compensation | (9,360 | ) | (8,494 | ) | (28,908 | ) | (24,704 | ) | ||||||||||
| Amortization of other identified intangible assets | (2,364 | ) | (2,233 | ) | (6,817 | ) | (6,125 | ) | ||||||||||
| Special charges | (4,831 | ) | (8,375 | ) | (43,994 | ) | (19,409 | ) | ||||||||||
| Non-GAAP operating expenses | $ | 201,384 | $ | 196,317 | $ | 564,508 | $ | 552,637 | ||||||||||
| Three Months Ended October 31, | Nine Months Ended October 31, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP operating income | $ | 25,688 | $ | 29,723 | $ | 57,291 | $ | 48,279 | ||||||||||
| Reconciling items to non-GAAP operating income: | ||||||||||||||||||
| Equity plan-related compensation | 10,025 | 9,102 | 30,889 | 26,391 | ||||||||||||||
| Amortization of purchased technology | 1,844 | 2,050 | 5,496 | 5,252 | ||||||||||||||
| Amortization of other identified intangible assets | 2,364 | 2,233 | 6,817 | 6,125 | ||||||||||||||
| Special charges | 4,831 | 8,375 | 43,994 | 19,409 | ||||||||||||||
| Non-GAAP operating income | $ | 44,752 | $ | 51,483 | $ | 144,487 | $ | 105,456 | ||||||||||
| Three Months Ended October 31, | Nine Months Ended October 31, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP operating income as a percent of total revenues | 8.8 | % | 10.2 | % | 6.8 | % | 6.0 | % | ||||||||||
| Non-GAAP adjustments detailed above | 6.6 | % | 7.4 | % | 10.3 | % | 7.1 | % | ||||||||||
| Non-GAAP operating income as a percent of total revenues | 15.4 | % | 17.6 | % | 17.1 | % | 13.1 | % | ||||||||||
| Three Months Ended October 31, | Nine Months Ended October 31, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP other income (expense), net and interest expense | $ | (4,595 | ) | $ | (5,315 | ) | $ | (13,532 | ) | $ | (15,069 | ) | ||||||
| Reconciling items to non-GAAP other income (expense), net and interest expense: | ||||||||||||||||||
| Equity in losses of unconsolidated entities | 72 | 78 | 33 | 146 | ||||||||||||||
| Amortization of original issuance debt discount | 1,663 | 1,548 | 4,900 | 4,563 | ||||||||||||||
| Non-GAAP other income (expense), net and interest expense | $ | (2,860 | ) | $ | (3,689 | ) | $ | (8,599 | ) | $ | (10,360 | ) | ||||||
Mentor Graphics Reports Fiscal Third Quarter Results
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