In millions |
Q3’19 | FY’19 | |||
Effect of acquisition accounting on fair value of acquired deferred revenue | $0 | $1 | |||
Acquisition-related charges | - | 1 | |||
Restructuring and headquarters relocation charges (1) | - | 45 | |||
Intangible asset amortization expense | 13 | 51 | |||
Stock-based compensation expense | 28 | 114 | |||
Total Estimated Pre-Tax GAAP adjustments | $41 | $212 | |||
PTC Announces Second Quarter Fiscal Year 2019 Results
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(1) The third quarter and fiscal 2019 non-GAAP operating
expense, non-GAAP operating margin and non-GAAP EPS guidance exclude the
estimated items outlined in the table below, as well as any tax effects
and discrete tax items (which are not known nor reflected). Adjusted
free cash flow excludes $25 million of restructuring payments related to
our workforce realignment and headquarters relocation. From a cash
perspective, the free rent and estimated sublease income over the first
18 months on our Seaport headquarters total approximately $30 million,
as compared to the estimated cash outflows of $34 million on the Needham
headquarters facility, which will be incurred over the next 44 months.
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