Mentor Graphics Reports Fiscal First Quarter Results and Announces Quarterly Dividend

 

MENTOR GRAPHICS CORPORATION

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

(In thousands, except percentages)
       
 
Three Months Ended April 30,
2015 2014
GAAP gross profit $ 223,092 $ 194,708
Reconciling items to non-GAAP gross profit:
Equity plan-related compensation 708 535
Amortization of purchased technology   1,858     1,361  
Non-GAAP gross profit $ 225,658   $ 196,604  
 
 
Three Months Ended April 30,
2015 2014
GAAP gross profit as a percent of total revenues 82.0 % 77.2 %
Non-GAAP adjustments detailed above   0.9 %   0.8 %
Non-GAAP gross profit as a percent of total revenues   82.9 %   78.0 %
 
 
Three Months Ended April 30,
2015 2014
GAAP operating expenses $ 230,755 $ 193,064
Reconciling items to non-GAAP operating expenses:
Equity plan-related compensation (9,570 ) (7,594 )
Amortization of other identified intangible assets (2,219 ) (1,866 )
Special charges   (36,977 )   (5,926 )
Non-GAAP operating expenses $ 181,989   $ 177,678  
 
 
Three Months Ended April 30,
2015 2014
GAAP operating income (loss) $ (7,663 ) $ 1,644
Reconciling items to non-GAAP operating income:
Equity plan-related compensation 10,278 8,129
Amortization of purchased technology 1,858 1,361
Amortization of other identified intangible assets 2,219 1,866
Special charges   36,977     5,926  
Non-GAAP operating income $ 43,669   $ 18,926  
 
 
Three Months Ended April 30,
2015 2014
GAAP operating income (loss) as a percent of total revenues (2.8 %) 0.7 %
Non-GAAP adjustments detailed above   18.8 %   6.8 %
Non-GAAP operating income as a percent of total revenues   16.0 %   7.5 %
 
 
Three Months Ended April 30,
2015 2014
GAAP other income (expense), net and interest expense $ (4,352 ) $ (4,843 )

Reconciling items to non-GAAP other income (expense), net and interest expense:

Equity in (income) loss of unconsolidated entities (25 ) 13
Amortization of original issuance debt discount   1,604     1,494  
Non-GAAP other income (expense), net and interest expense $ (2,773 ) $ (3,336 )
 

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