Mentor Graphics Reports Fiscal First Quarter Results and

Mentor Graphics Reports Fiscal First Quarter Results and Announces Dividend


MENTOR GRAPHICS CORPORATION
UNAUDITED RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES
(In thousands, except percentages)


	Three Months Ended April 30,
	2013			2012
GAAP gross profit	$	186,334		$	202,535
Reconciling items to non-GAAP gross profit:
Equity plan-related compensation		460			319
Amortization of purchased technology		1,207			2,179
Non-GAAP gross profit	$	188,001		$	205,033


	Three Months Ended April 30,
	2013			2012
GAAP gross profit as a percent of total revenues		82.3	%		81.7	%
Non-GAAP adjustments detailed above		0.7	%		1.0	%
Non-GAAP gross profit as a percent of total revenues		83.0	%		82.7	%


	Three Months Ended April 30,
	2013			2012
GAAP operating expenses	$	180,441		$	169,713
Reconciling items to non-GAAP operating expenses:
Equity plan-related compensation		(6,106	)		(4,828	)
Amortization of Frontline purchased technology and other identified intangible assets		(737	)		(1,242	)
Amortization of other identified intangible assets		(1,654	)		(1,706	)
Special charges		(2,083	)		(1,147	)
Non-GAAP operating expenses	$	169,861		$	160,790


	Three Months Ended April 30,
	2013			2012
GAAP operating income	$	5,893		$	32,822
Reconciling items to non-GAAP operating income:
Equity plan-related compensation		6,566			5,147
Amortization of purchased technology		1,207			2,179
Amortization of Frontline purchased technology and other identified intangible assets		737			1,242
Amortization of other identified intangible assets		1,654			1,706
Special Charges		2,083			1,147
Non-GAAP operating income	$	18,140		$	44,243


	Three Months Ended April 30,
	2013			2012
GAAP operating income as a percent of total revenues		2.6	%		13.2	%
Non-GAAP adjustments detailed above		5.4	%		4.6	%
Non-GAAP operating income as a percent of total revenues		8.0	%		17.8	%


	Three Months Ended April 30,
	2013			2012
GAAP other income (expense), net and interest expense	$	(5,744	)	$	(4,511	)
Reconciling items to non-GAAP other income (expense), net and interest expense:
Equity in earnings of unconsolidated entities		(51	)		(13	)
Amortization of original issuance debt discount		1,391			1,295
Non-GAAP other income (expense), net and interest expense	$	(4,404	)	$	(3,229	)

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