Non-GAAP Discussion Disclosure
The information discussed within this release includes financial results and projections that are in accordance with accounting principles generally accepted in the United States (GAAP). In addition, certain non-GAAP financial measures have been provided that exclude certain charges, expenses and income. The non-GAAP measures should be read in conjunction with the corresponding GAAP measures and should be considered in addition to, and not as an alternative or substitute for, the measures prepared in accordance with GAAP. The non-GAAP financial measures are provided in an effort to provide information that investors may deem relevant to evaluate results from the company’s core business operations and to compare the company’s performance with prior periods. The non-GAAP financial measures primarily identify and exclude certain discrete items, such as merger-related expenses, amortization expenses and expenses associated with share-based compensation required under ASC 718. The company uses these non-GAAP financial measures for evaluating comparable financial performance against prior periods.
This release is available on the Stratasys web site at www.stratasys.com
Stratasys, Ltd. (Nasdaq: SSYS), headquartered in Minneapolis, Minn. and Rehovot, Israel, manufactures 3D printers and materials for personal use, prototyping and production. The company's patented FDM® and PolyJetTM 3D Printing technologies produce prototypes and manufactured goods directly from 3D CAD files or other 3D content. Systems include 3D printers for idea development, prototyping and direct digital manufacturing. Stratasys subsidiaries include MakerBot and Solidscape, and the company operates the RedEye digital-manufacturing service. Stratasys has more than 1700 employees, holds over 500 granted or pending additive manufacturing patents globally, and has received more than 20 awards for its technology and leadership. Online at: www.stratasys.com or http://blog.stratasys.com
Stratasys Ltd. | |||
Reconciliation of GAAP to Non-GAAP Forward Looking Guidance | |||
Fiscal Year 2014 | |||
(in millions, except per share data) | |||
GAAP net income | $10.5 to $19.9 | ||
Adjustments |
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Stock-based compensation expense | $25.1 to $28.2 | ||
Intangible assets amortization expense | $64.8 | ||
Merger related expense | $8.8 to $9.8 | ||
Non-GAAP net income | $113.3 to $118.6 | ||
GAAP diluted earnings per share | $0.20 to $0.38 | ||
Non-GAAP diluted earnings per share | $2.15 to $2.25 | ||