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ANSYS, INC. AND SUBSIDIARIES |
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Reconciliation of Non-GAAP Measures |
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(Unaudited) |
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(in thousands, except percentages and per share data) |
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Three Months Ended |
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March 31, 2009 |
March 31, 2008 |
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As
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Adjustments |
Non-GAAP
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As
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Adjustments |
Non-GAAP
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Total revenue |
$ |
116,310 |
$ |
5,074(1 |
) |
$ |
121,384 |
$ |
109,545 |
$ |
109,545 |
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| Operating income | 34,829 | $ | 21,081(2 | ) | 55,910 | 41,801 | $ | 9,998(4 | ) | 51,799 | |||||||||||||||
| Operating profit margin | 29.9 | % | 46.1 | % | 38.2 | % | 47.3 | % | |||||||||||||||||
| Net income | $ | 21,095 | $ | 13,405(3 | ) | $ | 34,500 | $ | 25,854 | $ | 6,611(5 | ) | $ | 32,465 | |||||||||||
| Earnings per share - diluted: | |||||||||||||||||||||||||
| Diluted earnings per share | $ | 0.23 | $ | 0.37 | $ | 0.32 | $ | 0.40 | |||||||||||||||||
| Weighted average shares - diluted | 92,175 | 92,175 | 81,643 | 81,643 | |||||||||||||||||||||
| (1) |
Amount represents the revenue not reported during the period as a result of the purchase accounting adjustment associated with EITF 01-3, “Accounting in a Business Combination for Deferred Revenue of an Acquiree.” |
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| (2) | Amount represents $12.9 million of amortization expense associated with intangible assets acquired in business acquisitions, including amounts primarily related to acquired software, customer list, trademarks and non-compete agreements, a $3.1 million charge for stock-based compensation, as well as the $5.1 million adjustment to revenue as reflected in (1) above. | |||
| (3) |
Amount represents the impact of the adjustments to operating income referred to in (2) above, adjusted for the related income tax impact of $7.7 million. |
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| (4) | Amount represents $7.2 million of amortization expense associated with intangible assets acquired in business acquisitions, including amounts primarily related to acquired software, customer list and non-compete agreements, and a $2.8 million charge for stock-based compensation. | |||
| (5) | Amount represents the impact of the adjustments to operating income referred to in (4) above, adjusted for the related income tax impact of $3.4 million. | |||
