(2) Amount represents $36.6 million of amortization expense associated with intangible assets acquired in business acquisitions, $16.6 million of stock-based compensation expense, the $4.9 million adjustment to revenue as reflected in (1) above and $2.0 million of transaction expenses related to the Apache acquisition.
(3) Amount represents the impact of the adjustments to operating income referred to in (2) above, adjusted for the related income tax impact of $19.2 million.
(4) Amount represents $36.4 million of amortization expense associated with intangible assets acquired in business acquisitions and a $13.9 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 $16.8 million.
ANSYS, INC. AND SUBSIDIARIES | ||
Reconciliation of Forward-Looking Guidance | ||
Quarter Ending December 31, 2011 | ||
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| Earnings Per Share Range – Diluted | |
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U.S. GAAP expectation | $0.50 - $0.53 | |
Adjustment to exclude acquisition accounting adjustment to deferred revenue | $0.03 | |
Adjustment to exclude acquisition–related amortization | $0.10 | |
Adjustment to exclude stock–based compensation | $0.05 - $0.06 | |
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Non-GAAP expectation | $0.69 - $0.71 | |
ANSYS, INC. AND SUBSIDIARIES | ||
Reconciliation of Forward-Looking Guidance | ||
Year Ending December 31, 2011 | ||
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| Earnings Per Share Range – Diluted | |
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U.S. GAAP expectation | $1.91 - $1.95 | |
Adjustment to exclude acquisition accounting adjustment to deferred revenue | $0.06 - $0.07 | |
Adjustment to exclude acquisition–related amortization | $0.34 - $0.35 | |
Adjustment to exclude acquisition-related transaction costs | $0.02 | |
Adjustment to exclude stock–based compensation | $0.19 | |
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Non-GAAP expectation | $2.54 - $2.56 | |
ANSYS, INC. AND SUBSIDIARIES | ||
Reconciliation of Forward-Looking Guidance | ||
Year Ending December 31, 2012 | ||
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| Earnings Per Share Range – Diluted | |
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U.S. GAAP expectation | $2.06 - $2.20 | |
Adjustment to exclude acquisition accounting adjustment to deferred revenue | $0.02 | |
Adjustment to exclude acquisition–related amortization | $0.42 - $0.44 | |
Adjustment to exclude stock–based compensation | $0.26 - $0.28 | |
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Non-GAAP expectation | $2.80 - $2.90 | |
Use of Non-GAAP Measures
The Company provides non-GAAP revenue, non-GAAP operating income, non-GAAP operating profit margin, non-GAAP net income and non-GAAP diluted earnings per share as supplemental measures to GAAP regarding the Company's operational performance. These financial measures exclude the impact of certain items and, therefore, have not been calculated in accordance with GAAP. A detailed explanation of each of the adjustments to such financial measures is described below. This press release also contains a reconciliation of each of these non-GAAP financial measures to its most comparable GAAP financial measure.
