| Three Months Ended | Year Ended | |||||||||
| September 30, | September 30, | September 30, | September 30, | |||||||
| 2008 | 2007 | 2008 | 2007 | |||||||
| Cost of license revenue | $ | 12 | $ | 38 | $ | 38 | 138 | |||
| Cost of service revenue | 2,305 | 2,741 | 9,172 | 7,412 | ||||||
| Sales and marketing | 3,296 | 3,059 | 12,229 | 8,985 | ||||||
| Research and development | 2,500 | 2,676 | 9,429 | 7,205 | ||||||
| General and administrative | 3,602 | 5,424 | 13,528 | 12,705 | ||||||
| Total stock-based compensation | $ | 11,715 | 13,938 | $ | 44,396 | 36,445 | ||||
|
PARAMETRIC TECHNOLOGY CORPORATION |
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|
NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS (UNAUDITED) |
|||||||||||||
| (in thousands, except per share data) | |||||||||||||
| Three Months Ended | Year Ended | ||||||||||||
| September 30, | September 30, | September 30, | September 30, | ||||||||||
| 2008 | 2007 | 2008 | 2007 | ||||||||||
| GAAP revenue | $ | 299,547 | $ | 266,652 | $ | 1,070,330 | $ | 941,279 | |||||
| Fair value adjustment of acquired CoCreate deferred maintenance revenue | 668 | -- | 4,588 | -- | |||||||||
| Non-GAAP revenue | $ | 300,215 | $ | 266,652 | $ | 1,074,918 | $ | 941,279 | |||||
| GAAP operating income | $ | 47,426 | $ | 30,953 | $ | 125,245 | $ | 92,768 | |||||
| Fair value adjustment of acquired CoCreate deferred maintenance revenue | 668 | -- | 4,588 | -- | |||||||||
| Stock-based compensation | 11,715 | 13,938 | 44,396 | 36,445 | |||||||||
|
Amortization of acquired intangible assets
included in cost of license revenue |
5,991 | 1,925 | 19,841 | 6,820 | |||||||||
|
Amortization of acquired intangible assets
included in cost of service revenue |
16 |
16 | 67 | 82 | |||||||||
| Amortization of acquired intangible assets | 4,327 | 2,027 | 15,579 | 7,467 | |||||||||
| In-process research and development | -- | -- | 1,887 | 544 | |||||||||
| Restructuring charge | 4,735 | 15,347 | 20,102 | 15,347 | |||||||||
| Non-GAAP operating income | $ | 74,878 | $ | 64,206 | $ | 231,705 | $ | 159,473 | |||||
| GAAP net income | $ | 36,504 | $ | 30,639 | $ | 79,702 | $ | 143,656 | |||||
| Fair value adjustment of acquired CoCreate deferred maintenance revenue | 668 | -- | 4,588 | -- | |||||||||
| Stock-based compensation | 11,715 | 13,938 | 44,396 | 36,445 | |||||||||
| Amortization of acquired intangible assets included in cost of license revenue | 5,991 | 1,925 | 19,841 | 6,820 | |||||||||
| Amortization of acquired intangible assets included in cost of service revenue |
16 |
16 | 67 | 82 | |||||||||
| Amortization of acquired intangible assets | 4,327 | 2,027 | 15,579 | 7,467 | |||||||||
| In-process research and development | -- | -- | 1,887 | 544 | |||||||||
| Restructuring charge | 4,735 | 15,347 | 20,102 | 15,347 | |||||||||
| One-time non-cash loss included in other income (expense), net (1) | -- | -- | 6,206 | -- | |||||||||
| Income tax adjustments (2) | (9,984 | ) | (20,760 | ) | (32,355 | ) | (93,684 | ) | |||||
| Non-GAAP net income | $ | 53,972 | $ | 43,132 | $ | 160,013 | $ | 116,677 | |||||
| GAAP diluted earnings per share | $ | 0.31 | $ | 0.26 | $ | 0.68 | $ | 1.22 | |||||
| Stock-based compensation | 0.10 | 0.12 | 0.38 | 0.31 | |||||||||
| All other items identified above | 0.04 | (0.01 | ) | 0.30 | (0.54 | ) | |||||||
| Non-GAAP diluted earnings per share | $ | 0.45 | $ | 0.37 | $ | 1.36 | $ | 0.99 | |||||
| Weighted average shares outstanding - diluted | 118,780 | 117,702 | 117,870 | 117,494 | |||||||||
