Mentor Graphics Reports Fiscal First Quarter Results

MENTOR GRAPHICS CORPORATION

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

(In thousands, except percentages)
             
 
Three Months Ended April 30,
  2014     2013  
GAAP gross profit $ 194,708 $ 186,334
Reconciling items to non-GAAP gross profit:
Equity plan-related compensation 535 460
Amortization of purchased technology   1,361     1,207  
Non-GAAP gross profit $ 196,604   $ 188,001  
 
 
Three Months Ended April 30,
  2014     2013  
GAAP gross profit as a percent of total revenues 77.2 % 82.3 %
Non-GAAP adjustments detailed above   0.8 %   0.7 %
Non-GAAP gross profit as a percent of total revenues   78.0 %   83.0 %
 
 
Three Months Ended April 30,
  2014     2013  
GAAP operating expenses $ 193,064 $ 180,441
Reconciling items to non-GAAP operating expenses:
Equity plan-related compensation (7,594 ) (6,106 )
Amortization of Frontline purchased technology and other
identified intangible assets (116 ) (737 )
Amortization of other identified intangible assets (1,750 ) (1,654 )
Special charges a   (5,926 )   (4,023 )
Non-GAAP operating expenses $ 177,678   $ 167,921  
 
 
Three Months Ended April 30,
  2014     2013  
GAAP operating income $ 1,644 $ 5,893
Reconciling items to non-GAAP operating income:
Equity plan-related compensation 8,129 6,566
Amortization of purchased technology 1,361 1,207
Amortization of Frontline purchased technology and other
identified intangible assets 116 737
Amortization of other identified intangible assets 1,750 1,654
Special charges a   5,926     4,023  
Non-GAAP operating income $ 18,926   $ 20,080  
 
 
Three Months Ended April 30,
  2014     2013  
GAAP operating income as a percent of total revenues 0.7 % 2.6 %
Non-GAAP adjustments detailed above   6.8 %   6.3 %
Non-GAAP operating income as a percent of total revenues   7.5 %   8.9 %
 
 
Three Months Ended April 30,
  2014     2013  
GAAP other income (expense), net and interest expense $ (4,843 ) $ (5,744 )
Reconciling items to non-GAAP other income (expense), net
and interest expense:
Equity in earnings of unconsolidated entities 13 (51 )
Amortization of original issuance debt discount   1,494     1,391  
Non-GAAP other income (expense), net and interest expense $ (3,336 ) $ (4,404 )
 
 

a See footnote a for a discussion of the reclassification of certain litigation costs to special charges.

 

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