Cadence Reports Fourth Quarter and Fiscal Year 2014 Financial Results

 

Diluted Net Income per Share Reconciliation

 

Three Months Ended

   

January 3, 2015

 

December 28, 2013

   

(unaudited)

(in thousands, except per share data)

           

Diluted net income per share on a GAAP basis

 

$

0.21

   

$

0.13

 

Amortization of acquired intangibles

 

0.06

   

0.04

 

Stock-based compensation expense

 

0.07

   

0.06

 

Non-qualified deferred compensation expenses

 

   

0.01

 

Restructuring and other charges (credits)

 

   

0.05

 

Acquisition and integration-related costs

 

0.01

   

0.03

 

Special charges*

 

   

 

Amortization of debt discount

 

0.01

   

0.02

 

Other income or expense related to investments and non-qualified deferred compensation plan assets**

 

   

 

Income tax effect of non-GAAP adjustments

 

(0.09)

   

(0.11)

 

Diluted net income per share on a non-GAAP basis

 

$

0.27

   

$

0.23

 

Shares used in calculation of diluted net income per share — GAAP***

 

310,273

   

294,663

 

Shares used in calculation of diluted net income per share — non-GAAP***

 

310,273

   

294,663

 
   

*

Comprised of costs related to executive severance costs

   

**

Includes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on sale of investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense.

   

***

Shares used in the calculation of GAAP net income per share are expected to be the same as shares used in the calculation of non-GAAP net income per share, except when the company reports a GAAP net loss and non-GAAP net income, or GAAP net income and a non-GAAP net loss.

 

Diluted Net Income per Share Reconciliation

 

Years Ended

   

January 3, 2015

 

December 28, 2013

   

(unaudited)

(in thousands, except per share data)

           

Diluted net income per share on a GAAP basis

 

$

0.52

   

$

0.56

 

Amortization and sale of acquired intangibles

 

0.20

   

0.15

 

Stock-based compensation expense

 

0.27

   

0.23

 

Non-qualified deferred compensation expenses

 

0.01

   

0.01

 

Restructuring and other charges

 

0.03

   

0.06

 

Acquisition and integration-related costs

 

0.08

   

0.11

 

Special charges*

 

0.04

   

 

Amortization of debt discount

 

0.06

   

0.08

 

Other income or expense related to investments and non-qualified deferred compensation plan assets**

 

(0.01)

   

(0.02)

 

Income tax benefit due to a release of an uncertain tax position

 

   

(0.11)

 

Income tax effect of non-GAAP adjustments

 

(0.26)

   

(0.21)

 

Diluted net income per share on a non-GAAP basis

 

$

0.94

   

$

0.86

 

Shares used in calculation of diluted net income per share — GAAP***

 

306,775

   

294,564

 

Shares used in calculation of diluted net income per share — non-GAAP***

 

306,775

   

294,564

 
   

*

Comprised of costs related to a voluntary retirement program and executive severance costs

   

**

Includes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on sale of investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense.

   

***

Shares used in the calculation of GAAP net income per share are expected to be the same as shares used in the calculation of non-GAAP net income per share, except when the company reports a GAAP net loss and non-GAAP net income, or GAAP net income and a non-GAAP net loss.


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