|
SUPPLEMENTAL FINANCIAL INFORMATION | |||||||
|
STOCK-BASED COMPENSATION EXPENSE | |||||||
|
(Unaudited, in thousands) | |||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, | ||||
|
|
2014 |
|
2013 |
|
2014 |
|
2013 |
|
Cost of revenue |
$ 219 |
|
$ 146 |
|
$ 424 |
|
$ 302 |
|
Research and development |
2,245 |
|
1,693 |
|
4,250 |
|
3,066 |
|
Selling, general and administrative |
5,951 |
|
3,351 |
|
11,339 |
|
6,482 |
|
Total stock-based compensation expense |
$ 8,415 |
|
$ 5,190 |
|
$ 16,013 |
|
$ 9,850 |
|
RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME | |||||||
|
(Unaudited, in thousands, except per share amounts) | |||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, | ||||
|
|
2014 |
|
2013 |
|
2014 |
|
2013 |
|
Net income |
$ 6,397 |
|
$ 5,489 |
|
$ 15,415 |
|
$ 7,989 |
|
Net income as a percentage of revenue |
9.3% |
|
9.5% |
|
12.0% |
|
7.3% |
|
|
|
|
|
|
|
|
|
|
Adjustments to reconcile net income to non-GAAP net income: |
|
|
|
|
|
|
|
|
Stock-based compensation expense |
8,415 |
|
5,190 |
|
16,013 |
|
9,850 |
|
Acquisition-related expense |
515 |
|
- |
|
515 |
|
- |
|
Cash award |
- |
|
(266) |
|
- |
|
(266) |
|
Tax effect |
(685) |
|
(1,111) |
|
(1,694) |
|
(1,838) |
|
Non-GAAP net income |
$ 14,642 |
|
$ 9,302 |
|
$ 30,249 |
|
$ 15,735 |
|
Non-GAAP net income as a percentage of revenue |
21.4% |
|
16.1% |
|
23.5% |
|
14.4% |
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income per share: |
|
|
|
|
|
|
|
|
Basic |
$ 0.38 |
|
$ 0.25 |
|
$ 0.78 |
|
$ 0.43 |
|
Diluted |
$ 0.37 |
|
$ 0.24 |
|
$ 0.76 |
|
$ 0.41 |
|
|
|
|
|
|
|
|
|
|
Shares used in the calculation of non-GAAP net income per share: |
|
|
|
|
|
|
|
|
Basic |
38,684 |
|
37,053 |
|
38,577 |
|
36,657 |
|
Diluted |
39,608 |
|
38,239 |
|
39,563 |
|
38,019 |
|
| |||||||
|
RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN | |||||||
|
(Unaudited, in thousands) | |||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, | ||||
|
|
2014 |
|
2013 |
|
2014 |
|
2013 |
|
Gross profit |
$ 37,099 |
|
$ 30,928 |
|
$ 69,196 |
|
$ 58,313 |
|
Gross margin |
54.2% |
|
53.6% |
|
53.9% |
|
53.4% |
|
|
|
|
|
|
|
|
|
|
Adjustments to reconcile gross margin to non-GAAP gross margin: |
|
|
|
|
|
|
|
|
Stock-based compensation expense |
219 |
|
146 |
|
424 |
|
302 |
|
Non-GAAP gross profit |
$ 37,318 |
|
$ 31,074 |
|
$ 69,620 |
|
$ 58,615 |
|
Non-GAAP gross margin |
54.5% |
|
53.8% |
|
54.2% |
|
53.7% |
|
|
|
|
|
|
|
|
|
|
RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES | |||||||
|
(Unaudited, in thousands) | |||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, | ||||
|
|
2014 |
|
2013 |
|
2014 |
|
2013 |
|
Total operating expenses |
$ 30,495 |
|
$ 26,014 |
|
$ 53,507 |
|
$ 51,094 |
|
|
|
|
|
|
|
|
|
|
Adjustments to reconcile total operating expenses to non-GAAP total operating expenses: |
|
|
|
|
|
|
|
|
Stock-based compensation expense |
(8,196) |
|
(5,044) |
|
(15,589) |
|
(9,548) |
|
Acquisition-related expense |
(515) |
|
- |
|
(515) |
|
- |
|
Non-GAAP operating expenses |
$ 21,784 |
|
$ 20,970 |
|
$ 37,403 |
|
$ 41,546 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RECONCILIATION OF OPERATING INCOME TO NON-GAAP OPERATING INCOME | |||||||
|
(Unaudited, in thousands) | |||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, | ||||
|
|
2014 |
|
2013 |
|
2014 |
|
2013 |
|
Total operating income |
$ 6,604 |
|
$ 4,914 |
|
$ 15,689 |
|
$ 7,219 |
|
Operating income as a percentage of revenue |
9.6% |
|
8.5% |
|
12.2% |
|
6.6% |
|
|
|
|
|
|
|
|
|
|
Adjustments to reconcile total operating income to non-GAAP total operating income: |
|
|
|
|
|
|
|
|
Stock-based compensation expense |
8,415 |
|
5,190 |
|
16,013 |
|
9,850 |
|
Acquisition-related expense |
515 |
|
- |
|
515 |
|
- |
|
Non-GAAP operating income |
$ 15,534 |
|
$ 10,104 |
|
$ 32,217 |
|
$ 17,069 |
|
Non-GAAP operating income as a percentage of revenue |
22.7% |
|
17.5% |
|
25.1% |
|
15.6% |
