Mentor Graphics Reports Fiscal Fourth Quarter Results

       

MENTOR GRAPHICS CORPORATION

UNAUDITED RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES

(In thousands, except percentages)
   
 
Three Months Ended January 31, Twelve Months Ended January 31,
  2017     2016     2017     2016  
GAAP gross profit $ 427,425 $ 289,812 $ 1,088,239 $ 991,330
Reconciling items to non-GAAP gross profit:
Equity plan-related compensation 808 626 3,085 2,607
Amortization of purchased technology   1,928     1,807     7,328     7,303  
Non-GAAP gross profit $ 430,161   $ 292,245   $ 1,098,652   $ 1,001,240  
 
 
Three Months Ended January 31, Twelve Months Ended January 31,
  2017     2016     2017     2016  
GAAP gross profit as a percent of total revenues 89.4 % 85.9 % 84.9 % 83.9 %
Non-GAAP adjustments detailed above   0.6 %   0.8 %   0.8 %   0.9 %
Non-GAAP gross profit as a percent of total revenues   90.0 %   86.7 %   85.7 %   84.8 %
 
 
Three Months Ended January 31, Twelve Months Ended January 31,
  2017     2016     2017     2016  
GAAP operating expenses $ 274,843 $ 210,358 $ 885,158 $ 854,585
Reconciling items to non-GAAP operating expenses:
Equity plan-related compensation (12,467 ) (8,982 ) (43,708 ) (37,890 )
Amortization of other identified intangible assets (1,492 ) (1,899 ) (6,028 ) (8,716 )
Special charges   (9,833 )   (1,087 )   (15,769 )   (45,081 )
Non-GAAP operating expenses $ 251,051   $ 198,390   $ 819,653   $ 762,898  
 
 
Three Months Ended January 31, Twelve Months Ended January 31,
  2017     2016     2017     2016  
GAAP operating income $ 152,582 $ 79,454 $ 203,081 $ 136,745
Reconciling items to non-GAAP operating income:
Equity plan-related compensation 13,275 9,608 46,793 40,497
Amortization of purchased technology 1,928 1,807 7,328 7,303
Amortization of other identified intangible assets 1,492 1,899 6,028 8,716
Special charges   9,833     1,087     15,769     45,081  
Non-GAAP operating income $ 179,110   $ 93,855   $ 278,999   $ 238,342  
 
 
Three Months Ended January 31, Twelve Months Ended January 31,
  2017     2016     2017     2016  
GAAP operating income as a percent of total revenues 31.9 % 23.6 % 15.8 % 11.6 %
Non-GAAP adjustments detailed above   5.6 %   4.2 %   6.0 %   8.6 %
Non-GAAP operating income as a percent of total revenues   37.5 %   27.8 %   21.8 %   20.2 %
 
 
Three Months Ended January 31, Twelve Months Ended January 31,
  2017     2016     2017     2016  
GAAP other income, net and interest expense $ (5,049 ) $ (4,284 ) $ (18,225 ) $ (17,816 )
Reconciling items to non-GAAP other income, net
and interest expense:
Equity in (earnings) losses of unconsolidated entities (81 ) (39 ) - (6 )
Amortization of original issuance debt discount   1,818     1,693     7,081     6,593  
Non-GAAP other income, net and interest expense $ (3,312 ) $ (2,630 ) $ (11,144 ) $

(11,229

)
 

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