(a) Represents amortization expense of $1,308,036 related to acquired Solidscape, Inc. intangible assets and expense of $71,000 associated with the Company's current efforts to combine with Objet Ltd.
(b) Represents non-cash stock-based compensation expense of $1,897,230, amortization expense of $400,000 related to acquired Solidscape, Inc. intangible assets and expense of $6,977,311 associated with the Company's current efforts to combine with Objet Ltd.
(c) Represents the tax benefit (expense) related to non-GAAP adjustments.
(d) Represents expense of $561,094 related to the revaluation of Solidscape, Inc. inventory at the time of acquisition and expense of $726,687 related to acquired Solidscape, Inc. intangible assets.
(e) Represents non-cash stock-based compensation expense of $1,088,025, amortization expense of $222,222 related to acquired Solidscape, Inc. intangible assets and expense of $615,332 for the acquisition of Solidscape, Inc. during the second quarter of 2011.
(f) Represents gain on sale of an equity investment during the first quarter of 2011 and gain on sale of an auction rate security during the third quarter of 2011.
The Company considers these non-GAAP measures to be indicative of its core operating results and facilitates a comparison of operating results across reporting periods. The Company uses these non-GAAP measures when evaluating its financial results as well as for internal planning and forecasting purposes, however these measures should not be viewed as a substitute for the Company’s GAAP results.
| STRATASYS, INC. AND SUBSIDIARIES | ||||
| FISCAL YEAR 2012 | ||||
| RECONCILIATION OF NON-GAAP TO GAAP FORWARD LOOKING GUIDANCE | ||||
| Earnings Per Diluted Share Range | ||||
| U.S. GAAP measure | $0.77 to $0.88 | |||
|
Adjustments |
||||
| Stock-based compensation expense | $0.04 to $0.08 | |||
| Solidscape, Inc. intangible amortization expense | $0.07 | |||
| Objet-related transaction expense | $0.41 to $0.45 | |||
| Non-GAAP estimate | $1.37 to $1.40 | |||
