Autodesk Reports Third Quarter Results

_______________
(1) Includes impact of approximately $50 million from business model transition as revenue that would have otherwise been recognized during this period will be deferred. Deferred revenue is expected to increase by an equivalent amount related to this transition.
(2) Non-GAAP earnings per diluted share exclude $0.41 related to stock-based compensation expense, $0.26 for the amortization of acquisition related intangibles, and $0.04 related to restructuring charges.

Both the fourth quarter and full year fiscal 2014 outlook assume annual effective tax rates of approximately 22 percent and approximately 25 percent for GAAP and non-GAAP results, respectively. These rates do not include one-time discrete items but do reflect the extension of the federal R&D tax credit benefit through December 31, 2013.

Earnings Conference Call and Webcast

Autodesk will host its third quarter conference call today at 5:00 p.m. ET. The live broadcast can be accessed at http://www.autodesk.com/investors. Supplemental financial information and prepared remarks for the conference call will be posted to the investor relations section of Autodesk's website simultaneously with this press release.

NOTE: The prepared remarks will not be read on the conference call. The conference call will include only brief remarks followed by questions and answers.

A replay of the broadcast will be available at 7:00 pm ET at http://www.autodesk.com/investors. This replay will be maintained on Autodesk's website for at least 12 months.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties, including statements in the paragraphs under “Business Outlook” above, statements regarding revenue growth, managing expenses while making essential investments, demand for and adoption of cloud and mobile-based services, impacts of business model evolution, and other statements regarding our strategies, market and products positions, performance, and results. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: general market, political, economic and business conditions; failure to maintain our revenue growth and profitability; failure to maintain cost reductions and productivity increases or otherwise control our expenses; our performance in particular geographies, including emerging economies; the ability of governments around the world to meet their financial and debt obligations, and finance infrastructure projects; weak or negative growth in the industries we serve; failure to successfully manage transitions to new business models and markets, including the introduction of additional ratable revenue streams and our continuing efforts to attract customers to our cloud-based offerings and expenses related to the transition of our business model; slowing momentum in subscription billings or revenues; difficulty in predicting revenue from new businesses and the potential impact on our financial results from changes in our business models; difficulties encountered in integrating new or acquired businesses and technologies; the inability to identify and realize the anticipated benefits of acquisitions; the financial and business condition of our reseller and distribution channels; dependence on and the timing of large transactions; fluctuation in foreign currency exchange rates; the success of our foreign currency hedging program; failure to achieve sufficient sell-through in our channels for new or existing products; pricing pressure; unexpected fluctuations in our tax rate; the timing and degree of expected investments in growth and efficiency opportunities; changes in the timing of product releases and retirements; and any unanticipated accounting charges.

Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Annual Report on Form 10-K for the year ended January 31, 2013 and Forms 10-Q for the quarters ended April 30, 2013 and July 31, 2013, which are on file with the U.S. Securities and Exchange Commission. Autodesk does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

About Autodesk

Autodesk helps people imagine, design and create a better world. Everyone--from design professionals, engineers and architects to digital artists, students and hobbyists--uses Autodesk software to unlock their creativity and solve important challenges. For more information visit  autodesk.com or follow @autodesk.

Autodesk is a registered trademark of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.

© 2013 Autodesk, Inc. All rights reserved.

Autodesk, Inc.
Condensed Consolidated Statements of Operations
(In millions, except per share data)
             
 
Three Months Ended October 31, Nine Months Ended October 31,
2013 2012 2013 2012
(Unaudited)
Net revenue (1):
License and other $ 297.5 $ 310.2 $ 934.2 $ 999.4
Subscription   257.7     237.8     753.1     705.9  
Total net revenue   555.2     548.0     1,687.3     1,705.3  
Cost of revenue (1):
Cost of license and other revenue 43.4 41.3 130.6 124.6
Cost of subscription revenue   23.7     16.6     71.8     51.9  
Total cost of revenue   67.1     57.9     202.4     176.5  
Gross profit 488.1 490.1 1,484.9 1,528.8
Operating expenses:
Marketing and sales 203.4 203.9 610.3 639.5
Research and development 149.0 153.0 448.7 450.6
General and administrative 63.2 62.1 186.3 180.7
Restructuring charges, net   4.4     36.7     6.5     36.7  
Total operating expenses   420.0     455.7     1,251.8     1,307.5  
Income from operations 68.1 34.4 233.1 221.3
Interest and other income (expense), net   1.1     (0.1 )   (9.5 )   2.6  
Income before income taxes 69.2 34.3 223.6 223.9
Provision for income taxes   (11.6 )   (4.9 )   (48.7 )   (51.0 )
Net income $ 57.6   $ 29.4   $ 174.9   $ 172.9  
Basic net income per share $ 0.26   $ 0.13   $ 0.78   $ 0.76  
Diluted net income per share $ 0.25   $ 0.13   $ 0.77   $ 0.75  
Weighted average shares used in computing basic net income per share   223.1     225.5     223.4     227.1  
Weighted average shares used in computing diluted net income per share   227.7     229.9     228.6     231.4  

_______________

(1)   Effective in the first quarter of fiscal 2014, Autodesk reclassified certain revenue and cost of revenue amounts associated with its cloud service offerings from "License and Other Revenue" to its new revenue line item "Subscription Revenue." Subscription Revenue consists of two components: maintenance revenue for our software products and revenue for our cloud service offerings including Autodesk 360. Prior period amounts have been revised to conform to the current period presentation.
 
Autodesk, Inc.
Condensed Consolidated Balance Sheets
(In millions)
     
 
October 31, 2013 January 31, 2013
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 1,473.4 $ 1,612.2
Marketable securities 587.1 342.1
Accounts receivable, net 304.1 495.1
Deferred income taxes 53.5 42.2
Prepaid expenses and other current assets   99.8     60.8  
Total current assets   2,517.9     2,552.4  
Marketable securities 418.5 411.1
Computer equipment, software, furniture and leasehold improvements, net 134.1 114.9
Purchased technologies, net 54.3 76.0
Goodwill 922.3 871.5
Deferred income taxes, net 118.3 122.8
Other assets   156.1     159.7  
$ 4,321.5   $ 4,308.4  
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 75.3 $ 94.2
Accrued compensation 154.7 189.6
Accrued income taxes 37.2 13.9
Deferred revenue 610.8 647.0
Other accrued liabilities   70.1     99.0  
Total current liabilities   948.1     1,043.7  
Deferred revenue 154.9 187.6
Long term income taxes payable 209.0 194.2
Long term notes payable, net of discount 746.2 745.6
Other liabilities 101.4 94.1
Commitments and contingencies
Stockholders’ equity:
Preferred stock
Common stock and additional paid-in capital 1,535.1 1,449.8
Accumulated other comprehensive loss (4.1 ) (5.7 )
Retained earnings   630.9     599.1  
Total stockholders’ equity   2,161.9     2,043.2  
$ 4,321.5   $ 4,308.4  
 
Autodesk, Inc.
Condensed Consolidated Statements of Cash Flows
(In millions)
     
 
Nine Months Ended October 31,
2013 2012
(Unaudited)
Operating activities:
Net income $ 174.9 $ 172.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion 95.7 93.1
Stock-based compensation expense 96.1 118.8
Excess tax benefits from stock-based compensation 0.8 (27.4 )
Restructuring charges, net 6.5 36.7
Other operating activities (3.1 ) 4.4
Changes in operating assets and liabilities, net of business combinations   9.1     5.0  
Net cash provided by operating activities   380.0     403.5  
Investing activities:
Purchases of marketable securities (969.8 ) (1,103.1 )
Sales of marketable securities 329.9 207.0
Maturities of marketable securities 395.1 436.6
Capital expenditures (55.0 ) (44.7 )
Acquisitions, net of cash acquired (68.0 ) (204.2 )
Other investing activities   (15.7 )   (22.1 )
Net cash (used in) investing activities   (383.5 )   (730.5 )
Financing activities:
Proceeds from issuance of common stock, net of issuance costs 183.4 199.6
Repurchases of common stock (318.7 ) (340.5 )
Draws on line of credit 110.0
Excess tax benefits from stock-based compensation   (0.8 )   27.4  
Net cash (used in) financing activities   (136.1 )   (3.5 )
Effect of exchange rate changes on cash and cash equivalents   0.8     0.6  
Net decrease in cash and cash equivalents (138.8 ) (329.9 )
Cash and cash equivalents at beginning of fiscal year   1,612.2     1,156.9  
Cash and cash equivalents at end of period $ 1,473.4   $ 827.0  
 
Autodesk, Inc.
Reconciliation of GAAP financial measures to non-GAAP financial measures
(In millions, except per share data)
       
To supplement our consolidated financial statements presented on a GAAP basis, Autodesk provides investors with certain non-GAAP measures including non-GAAP cost of license and other revenue, non-GAAP cost of subscription revenue, non-GAAP gross profit, non-GAAP operating expenses, non-GAAP restructuring charges (benefits), non-GAAP income from operations, non-GAAP operating margin, non-GAAP interest and other income (expense), non-GAAP provision for income taxes, non-GAAP net income, and non-GAAP net income per share. These non-GAAP financial measures are adjusted to exclude certain costs, expenses, gains and losses, including stock-based compensation expense, restructuring charges, amortization of purchased intangibles, gain and loss on strategic investments, and related income tax expenses. See our reconciliation of GAAP financial measures to non-GAAP financial measures herein. We believe these exclusions are appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future, as well as to facilitate comparisons with our historical operating results. These adjustments to our GAAP results are made with the intent of providing both management and investors a more complete understanding of Autodesk's underlying operational results and trends and our marketplace performance. For example, the non-GAAP results are an indication of our baseline performance before gains, losses or other charges that are considered by management to be outside our core operating results. In addition, these non-GAAP financial measures are among the primary indicators management uses as a basis for our planning and forecasting of future periods.
 
There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP in the United States. Investors should review the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying this press release.
 
The following table shows Autodesk's non-GAAP results reconciled to GAAP results included in this release.
 
 

Three Months Ended

Nine Months Ended

October 31, October 31,
2013 2012 2013 2012
(Unaudited) (Unaudited)
 
GAAP cost of license and other revenue (1) $ 43.4 $ 41.3 $ 130.6 $ 124.6
Stock-based compensation expense (1) (0.9 ) (1.0 ) (2.7 ) (2.7 )
Amortization of developed technology (1)   (9.7 )   (9.2 )   (29.5 )   (27.7 )
Non-GAAP cost of license and other revenue (1) $ 32.8   $ 31.1   $ 98.4   $ 94.2  
 
GAAP cost of subscription revenue (1) $ 23.7 $ 16.6 $ 71.8 $ 51.9
Stock-based compensation expense (1) (0.5 ) (0.3 ) (1.6 ) (1.1 )
Amortization of developed technology (1)   (1.1 )   (0.7 )   (3.1 )   (1.6 )
Non-GAAP cost of subscription revenue (1) $ 22.1   $ 15.6   $ 67.1   $ 49.2  
 
GAAP gross profit $ 488.1 $ 490.1 $ 1,484.9 $ 1,528.8
Stock-based compensation expense 1.4 1.3 4.3 3.8
Amortization of developed technology   10.8     9.9     32.6     29.3  
Non-GAAP gross profit $ 500.3   $ 501.3   $ 1,521.8   $ 1,561.9  
 
GAAP marketing and sales $ 203.4 $ 203.9 $ 610.3 $ 639.5
Stock-based compensation expense   (14.5 )   (16.7 )   (42.5 )   (47.4 )
Non-GAAP marketing and sales $ 188.9   $ 187.2   $ 567.8   $ 592.1  
 
GAAP research and development $ 149.0 $ 153.0 $ 448.7 $ 450.6
Stock-based compensation expense   (10.2 )   (28.1 )   (31.3 )   (49.6 )
Non-GAAP research and development $ 138.8   $ 124.9   $ 417.4   $ 401.0  
 
GAAP general and administrative $ 63.2 $ 62.1 $ 186.3 $ 180.7
Stock-based compensation expense (5.5 ) (5.8 ) (18.0 ) (18.0 )
Amortization of customer relationships and trade names   (7.4 )   (13.8 )   (27.5 )   (29.5 )
Non-GAAP general and administrative $ 50.3   $ 42.5   $ 140.8   $ 133.2  
 
GAAP restructuring charges (benefits), net $ 4.4 $ 36.7 $ 6.5 $ 36.7
Restructuring (charges) benefits   (4.4 )   (36.7 )   (6.5 )   (36.7 )
Non-GAAP restructuring charges (benefits), net $   $   $   $  
 
GAAP operating expenses $ 420.0 $ 455.7 $ 1,251.8 $ 1,307.5
Stock-based compensation expense (30.2 ) (50.6 ) (91.8 ) (115.0 )
Amortization of customer relationships and trade names (7.4 ) (13.8 ) (27.5 ) (29.5 )
Restructuring (charges) benefits   (4.4 )   (36.7 )   (6.5 )   (36.7 )
Non-GAAP operating expenses $ 378.0   $ 354.6   $ 1,126.0   $ 1,126.3  
 
GAAP income from operations $ 68.1 $ 34.4 $ 233.1 $ 221.3
Stock-based compensation expense 31.6 51.9 96.1 118.8
Amortization of developed technology 10.8 9.9 32.6 29.3
Amortization of customer relationships and trade names 7.4 13.8 27.5 29.5
Restructuring charges (benefits)   4.4     36.7     6.5     36.7  
Non-GAAP income from operations $ 122.3   $ 146.7   $ 395.8   $ 435.6  
 
GAAP interest and other income, net $ 1.1 $ (0.1 ) $ (9.5 ) $ 2.6
(Gain) loss on strategic investments   (0.3 )   (0.1 )   1.0     3.8  
Non-GAAP interest and other income, net $ 0.8   $ (0.2 ) $ (8.5 ) $ 6.4  
 
GAAP provision for income taxes $ (11.6 ) $ (4.9 ) $ (48.7 ) $ (51.0 )
Discrete GAAP tax provision items (3.0 ) (15.4 ) (2.3 ) (19.0 )
Income tax effect of non-GAAP adjustments   (14.2 )   (17.2 )   (43.9 )   (42.8 )
Non-GAAP provision for income tax $ (28.8 ) $ (37.5 ) $ (94.9 ) $ (112.8 )
 
GAAP net income $ 57.6 $ 29.4 $ 174.9 $ 172.9
Stock-based compensation expense 31.6 51.9 96.1 118.8
Amortization of developed technology 10.8 9.9 32.6 29.3
Amortization of customer relationships and trade names 7.4 13.8 27.5 29.5
Restructuring charges (benefits) 4.4 36.7 6.5 36.7
(Gain) loss on strategic investments (0.3 ) (0.1 ) 1.0 3.8
Discrete GAAP tax provision items (3.0 ) (15.4 ) (2.3 ) (19.0 )
Income tax effect of non-GAAP adjustments   (14.2 )   (17.2 )   (43.9 )   (42.8 )
Non-GAAP net income $ 94.3   $ 109.0   $ 292.4   $ 329.2  
 
GAAP diluted net income per share $ 0.25 $ 0.13 $ 0.77 $ 0.75
Stock-based compensation expense 0.14 0.23 0.42 0.51
Amortization of developed technology 0.04 0.04 0.14 0.13
Amortization of customer relationships and trade names 0.03 0.06 0.12 0.13
Restructuring charges (benefits) 0.02 0.15 0.03 0.15
(Gain) loss on strategic investments 0.02
Discrete GAAP tax provision items (0.01 ) (0.07 ) (0.01 ) (0.09 )
Income tax effect of non-GAAP adjustments   (0.06 )   (0.07 )   (0.19 )   (0.18 )
Non-GAAP diluted net income per share $ 0.41   $ 0.47   $ 1.28   $ 1.42  
 

(1) Effective in the first quarter of fiscal 2014, Autodesk reclassified certain costs associated cloud service offerings from "Cost of License and Other Revenue" to "Cost of Subscription Revenue." Prior period amounts have been revised to conform to the current period presentation.

 

Autodesk, Inc.

 

Other Supplemental Financial Information (a)

                     
Fiscal Year 2014   QTR 1   QTR 2   QTR 3   QTR 4   YTD 2014
Financial Statistics ($ in millions, except per share data):          
Total Net Revenue: $ 570 $ 562 $ 555 $ 1,687
License and Other Revenue $ 324 $ 313 $ 298 $ 934
Subscription Revenue $ 247 $ 249 $ 258 $ 753
 
GAAP Gross Margin 88 % 88 % 88 % 88 %
Non-GAAP Gross Margin (1)(2) 90 % 90 % 90 % 90 %
 
GAAP Operating Expenses $ 422 $ 410 $ 420 $ 1,252
GAAP Operating Margin 14 % 15 % 12 % 14 %
GAAP Net Income $ 56 $ 62 $ 58 $ 175
GAAP Diluted Net Income Per Share (b) $ 0.24 $ 0.27 $ 0.25 $ 0.77
 
Non-GAAP Operating Expenses (1)(3) $ 378 $ 370 $ 378 $ 1,126
Non-GAAP Operating Margin (1)(4) 24 % 24 % 22 % 23 %
Non-GAAP Net Income (1)(5)(c) $ 96 $ 102 $ 94 $ 292
Non-GAAP Diluted Net Income Per Share (1)(6)(b)(c) $ 0.42 $ 0.45 $ 0.41 $ 1.28
 
Total Cash and Marketable Securities $ 2,480 $ 2,408 $ 2,479 $ 2,479
Days Sales Outstanding 46 49 50 50
 
Capital Expenditures $ 26 $ 17 $ 12 $ 55
Cash Flow from Operating Activities $ 224 $ 65 $ 91 $ 380
GAAP Depreciation, Amortization and Accretion $ 33 $ 32 $ 31 $ 96
 
Deferred Subscription Revenue Balance (c) $ 775 $ 736 $ 699 $ 699
 
Revenue by Geography:
Americas $ 202 $ 202 $ 208 $ 612
Europe, Middle East and Africa $ 216 $ 202 $ 204 $ 622
Asia Pacific $ 152 $ 158 $ 143 $ 453
% of Total Rev from Emerging Economies 13 % 15 % 15 % 15 %
 
Revenue by Segment:
Platform Solutions and Emerging Business $ 213 $ 197 $ 183 $ 593
Architecture, Engineering and Construction $ 172 $ 177 $ 186 $ 535
Manufacturing $ 139 $ 144 $ 142 $ 425
Media and Entertainment $ 47 $ 43 $ 44 $ 134
 
Other Revenue Statistics:
% of Total Rev from Flagship 55 % 51 % 50 % 52 %
% of Total Rev from Suites 31 % 34 % 36 % 34 %
% of Total Rev from New and Adjacent 14 % 14 % 15 % 14 %
% of Total Rev from AutoCAD and AutoCAD LT 34 % 31 % 29 % 31 %
 
Favorable (Unfavorable) Impact of U.S. Dollar Translation Relative to
Foreign Currencies Compared to Comparable Prior Year Period:
FX Impact on Total Net Revenue $ (17 ) $ (17 ) $ (13 ) $ (47 )
FX Impact on Cost of Revenue and Total Operating Expenses $ 5 $ 4 $ 3 $ 13
FX Impact on Operating Income $ (12 ) $ (13 ) $ (10 ) $ (34 )
 
Gross Margin by Segment:
Platform Solutions and Emerging Business $ 195 $ 180 $ 166 $ 541
Architecture, Engineering and Construction $ 156 $ 161 $ 169 $ 485
Manufacturing $ 128 $ 132 $ 130 $ 390
Media and Entertainment $ 37 $ 34 $ 35 $ 106
Unallocated amounts $ (12 ) $ (12 ) $ (12 ) $ (37 )
 
Common Stock Statistics (in millions):
Common Shares Outstanding 224.4 222.5 224.6 224.6
Fully Diluted Weighted Average Shares Outstanding 229.3 228.3 227.7 228.6
Shares Repurchased 3.2 3.1 2.0 8.3
 

(a) Totals may not agree with the sum of the components due to rounding.

(b) Earnings per share were computed independently for each of the periods presented; therefore the sum of the earnings per share amounts for the quarters may not equal the total for the year.
(c) Prior amounts have been conformed to align with the current period presentation.
 
(1) To supplement our consolidated financial statements presented on a GAAP basis, Autodesk provides investors with certain non-GAAP measures including non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating margin, non-GAAP net income, and non-GAAP net income per share. These non-GAAP financial measures are adjusted to exclude certain costs, expenses, gains and losses, including stock-based compensation expense, restructuring charges, amortization of purchased intangibles, gain and loss on strategic investments, and related income tax expenses. See our reconciliation of GAAP financial measures to non-GAAP financial measures herein. We believe these exclusions are appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future, as well as to facilitate comparisons with our historical operating results. These adjustments to our GAAP results are made with the intent of providing both management and investors a more complete understanding of Autodesk's underlying operational results and trends and our marketplace performance. For example, non-GAAP results are an indication of our baseline performance before gains, losses or other charges that are considered by management to be outside our core operating results. In addition, these non-GAAP financial measures are among the primary indicators management uses as a basis for our planning and forecasting of future periods. There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP in the United States. Investors should review the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying Autodesk's press release.
 
QTR 1   QTR 2   QTR 3   QTR 4   YTD 2014
(2) GAAP Gross Margin 88 % 88 % 88 % 88 %
Stock-based compensation expense % % % %
Amortization of developed technology   2 %     2 %     2 %         2 %
Non-GAAP Gross Margin 90 % 90 % 90 % 90 %
 
(3) GAAP Operating Expenses $ 422 $ 410 $ 420 $ 1,252
Stock-based compensation expense (32 ) (30 ) (30 ) (92 )
Amortization of customer relationships and trade names (11 ) (9 ) (7 ) (28 )
Restructuring (charges) benefits, net         (2 )     (4 )         (7 )
Non-GAAP Operating Expenses $ 378 $ 370 $ 378 $ 1,126
 
(4) GAAP Operating Margin 14 % 15 % 12 % 14 %
Stock-based compensation expense 6 % 6 % 6 % 6 %
Amortization of developed technology 2 % 2 % 2 % 2 %
Amortization of customer relationships and trade names 2 % 1 % 1 % 1 %
Restructuring charges (benefits), net   %     %     1 %         %
Non-GAAP Operating Margin 24 % 24 % 22 % 23 %
 
(5) GAAP Net Income $ 56 $ 62 $ 58 $ 175
Stock-based compensation expense 34 31 32 96
Amortization of developed technology 11 11 11 33
Amortization of customer relationships and trade names 11 9 7 28
Restructuring charges (benefits), net 2 4 7
(Gain) loss on strategic investments 1 1
Discrete GAAP tax provision items (1 ) 1 (3 ) (2 )
Income tax effect of non-GAAP adjustments   (15 )     (14 )     (14 )         (44 )
Non-GAAP Net Income $ 96 $ 102 $ 94 $ 292
 
(6) GAAP Diluted Net Income Per Share $ 0.24 $ 0.27 $ 0.25 $ 0.77
Stock-based compensation expense 0.15 0.14 0.14 0.42
Amortization of developed technology 0.05 0.05 0.04 0.14
Amortization of customer relationships and trade names 0.05 0.04 0.03 0.12
Restructuring charges (benefits), net 0.01 0.02 0.03
(Gain) loss on strategic investments
Discrete GAAP tax provision items (0.01 ) (0.01 )
Income tax effect of non-GAAP adjustments   (0.07 )     (0.06 )     (0.06 )         (0.19 )
Non-GAAP Diluted Net Income Per Share $ 0.42 $ 0.45 $ 0.41 $ 1.28

« Previous Page 1 | 2 | 3 | 4  Next Page »
Featured Video
Editorial
Jobs
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Mechanical Engineer 3 for Lam Research at Fremont, California
Equipment Engineer, Raxium for Google at Fremont, California
Upcoming Events
Celebrate Manufacturing Excellence at Anaheim Convention Center Anaheim CA - Feb 4 - 6, 2025
3DEXPERIENCE World 2025 at George R. Brown Convention Center Houston TX - Feb 23 - 26, 2025
TIMTOS 2025 at Nangang Exhibition Center Hall 1 & 2 (TaiNEX 1 & 2) TWTC Hall Taipei Taiwan - Mar 3 - 8, 2025
Additive Manufacturing Forum 2025 at Estrel Convention Cente Berlin Germany - Mar 17 - 18, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise