Mentor Graphics Reports Fiscal First Quarter Results

 

MENTOR GRAPHICS CORPORATION

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

(In thousands, except percentages)
     
 
Three Months Ended April 30,
2010 2009
GAAP gross margin $ 150,734 $ 164,735
Reconciling items to non-GAAP gross margin
Equity plan-related compensation 212 499
Amortization of purchased technology   3,569     2,948  
Non-GAAP gross margin $ 154,515   $ 168,182  
 
 
Three Months Ended April 30,
2010 2009
GAAP gross margin as a percent of total revenues 83 % 85 %
Non-GAAP adjustments detailed above   3 %   2 %
Non-GAAP gross margin as a percent of total revenues   86 %   87 %
 
 
Three Months Ended April 30,
2010 2009
GAAP operating expenses $ 165,728 $ 170,881
Reconciling items to non-GAAP operating expenses

Amortization of Frontline purchased technology and other identified intangible assets

(621 ) -
Equity plan-related compensation (6,369 ) (7,271 )
Amortization of other identified intangible assets (2,361 ) (2,870 )
Special charges   (3,268 )   (5,695 )
Non-GAAP operating expenses $ 153,109   $ 155,045  
 
 
Three Months Ended April 30,
2010 2009
GAAP operating loss $ (14,994 ) $ (6,146 )
Reconciling items to non-GAAP operating income

Amortization of Frontline purchased technology and other identified intangible assets

621 -
Equity plan-related compensation 6,581 7,770
Amortization of purchased intangible assets:
Cost of revenues 3,569 2,948
Amortization of intangible assets 2,361 2,870
Special Charges   3,268     5,695  
Non-GAAP operating income $ 1,406   $ 13,137  
 
 
Three Months Ended April 30,
2010 2009
GAAP operating loss as a percent of total revenues -8 % -3 %
Non-GAAP adjustments detailed above   9 %   10 %
Non-GAAP operating income as a percent of total revenues   1 %   7 %
 
 
Three Months Ended April 30,
2010 2009
GAAP other income (expense), net and interest expense $ (5,468 ) $ (4,053 )

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

Equity in losses of unconsolidated entities 270 324
Impairment of cost method investments - 113
Amortization of debt discount and retirement costs   729     421  
Non-GAAP other income (expense), net and interest expense $ (4,469 ) $ (3,195 )

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