Mentor Graphics Reports Fiscal Fourth Quarter Results

 

MENTOR GRAPHICS CORPORATION

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

(In thousands, except percentages)
       
Three Months Ended January 31, Twelve Months Ended January 31,
  2016     2015     2016     2015  
GAAP gross profit $ 289,812 $ 388,666 $ 991,330 $ 1,039,820
Reconciling items to non-GAAP gross profit:
Equity plan-related compensation 626 617 2,607 2,304
Amortization of purchased technology   1,807     1,847     7,303     7,099  
Non-GAAP gross profit $ 292,245   $ 391,130   $ 1,001,240   $ 1,049,223  
 
 
Three Months Ended January 31, Twelve Months Ended January 31,
  2016     2015     2016     2015  
GAAP gross profit as a percent of total revenues 85.9 % 88.5 % 83.9 % 83.6 %
Non-GAAP adjustments detailed above   0.8 %   0.6 %   0.9 %   0.7 %
Non-GAAP gross profit as a percent of total revenues   86.7 %   89.1 %   84.8 %   84.3 %
 
 
Three Months Ended January 31, Twelve Months Ended January 31,
  2016     2015     2016     2015  
GAAP operating expenses $ 210,358 $ 249,134 $ 854,585 $ 852,009
Reconciling items to non-GAAP operating expenses:
Equity plan-related compensation (8,982 ) (8,799 ) (37,890 ) (33,503 )
Amortization of other identified intangible assets (1,899 ) (2,157 ) (8,716 ) (8,282 )
Special charges   (1,087 )   (4,081 )   (45,081 )   (23,490 )
Non-GAAP operating expenses $ 198,390   $ 234,097   $ 762,898   $ 786,734  
 
 
Three Months Ended January 31, Twelve Months Ended January 31,
  2016     2015     2016     2015  
GAAP operating income $ 79,454 $ 139,532 $ 136,745 $ 187,811
Reconciling items to non-GAAP operating income:
Equity plan-related compensation 9,608 9,416 40,497 35,807
Amortization of purchased technology 1,807 1,847 7,303 7,099
Amortization of other identified intangible assets 1,899 2,157 8,716 8,282
Special charges   1,087     4,081     45,081     23,490  
Non-GAAP operating income $ 93,855   $ 157,033   $ 238,342   $ 262,489  
 
 
Three Months Ended January 31, Twelve Months Ended January 31,
  2016     2015     2016     2015  
GAAP operating income as a percent of total revenues 23.6 % 31.8 % 11.6 % 15.1 %
Non-GAAP adjustments detailed above   4.2 %   4.0 %   8.6 %   6.0 %
Non-GAAP operating income as a percent of total revenues   27.8 %   35.8 %   20.2 %   21.1 %
 
 
Three Months Ended January 31, Twelve Months Ended January 31,
  2016     2015     2016     2015  
GAAP other income (expense), net and interest expense $ (4,284 ) $ (4,984 ) $ (17,816 ) $ (20,053 )

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

Equity in earnings of unconsolidated entities (39 ) 38 (6 ) 184
Amortization of original issuance debt discount   1,693     1,576     6,593     6,139  
Non-GAAP other income (expense), net and interest expense $ (2,630 ) $ (3,370 ) $ (11,229 ) $ (13,730 )

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