| Three Months Ended | Nine Months Ended | ||||||||
| June 28, | June 30, | June 28, | June 30, | ||||||
| 2008 | 2007 | 2008 | 2007 | ||||||
| Cost of license revenue | $ | 12 | $ | 60 | $ | 26 | $ | 100 | |
| Cost of service revenue | 2,298 | 993 | 6,867 | 4,671 | |||||
| Sales and marketing | 3,130 | 2,035 | 8,933 | 5,926 | |||||
| Research and development | 2,322 | 1,058 | 6,929 | 4,529 | |||||
| General and administrative | 3,387 | 884 | 9,926 | 7,281 | |||||
| Total stock-based compensation | $ | 11,149 | $ | 5,030 | $ | 32,681 | $ | 22,507 | |
|
PARAMETRIC TECHNOLOGY CORPORATION |
||||||||||||||||||
| NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS (UNAUDITED) | ||||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||
| June 28, | June 30, | June 28, | June 30, | |||||||||||||||
| 2008 | 2007 | 2008 | 2007 | |||||||||||||||
| GAAP revenue | $ | 271,748 | $ | 224,864 | $ | 770,783 | $ | 674,627 | ||||||||||
| Fair value adjustment of acquired CoCreate deferred maintenance revenue | 978 | -- | 3,920 | -- | ||||||||||||||
| Non-GAAP revenue | $ | 272,726 | $ | 224,864 | $ | 774,703 | $ | 674,627 | ||||||||||
| GAAP operating income | $ | 31,922 | $ | 19,573 | $ | 77,819 | $ | 61,815 | ||||||||||
| Fair value adjustment of acquired CoCreate deferred maintenance revenue | 978 | -- | 3,920 | -- | ||||||||||||||
| Stock-based compensation | 11,149 | 5,030 | 32,681 | 22,507 | ||||||||||||||
|
Amortization of acquired intangible assets
included in cost of license revenue |
6,289 | 1,728 | 13,850 | 4,895 | ||||||||||||||
|
Amortization of acquired intangible assets
included in cost of service revenue |
17 |
17 | 51 | 66 | ||||||||||||||
| Amortization of acquired intangible assets | 4,044 | 1,764 | 11,252 | 5,440 | ||||||||||||||
| In-process research and development | -- | 544 | 1,887 | 544 | ||||||||||||||
| Restructuring charge | 3,790 | -- | 15,367 | -- | ||||||||||||||
| Non-GAAP operating income | $ | 58,189 | $ | 28,656 | $ | 156,827 | $ | 95,267 | ||||||||||
| GAAP net income | $ | 14,470 | $ | 80,465 | $ | 43,198 | $ | 113,017 | ||||||||||
| Fair value adjustment of acquired CoCreate deferred maintenance revenue |
978 |
-- |
3,920 |
-- | ||||||||||||||
| Stock-based compensation | 11,149 | 5,030 | 32,681 | 22,507 | ||||||||||||||
| Amortization of acquired intangible assets included in cost of license revenue |
6,289 |
1,728 |
13,850 |
4,895 |
||||||||||||||
| Amortization of acquired intangible assets included in cost of service revenue |
17 |
17 |
51 |
66 |
||||||||||||||
| Amortization of acquired intangible assets | 4,044 | 1,764 | 11,252 | 5,440 | ||||||||||||||
| In-process research and development | -- | 544 | 1,887 | 544 | ||||||||||||||
| Restructuring charge | 3,790 | -- | 15,367 | -- | ||||||||||||||
| One-time non-cash loss included in other income (expense), net (2) | 6,206 | -- | 6,206 | -- | ||||||||||||||
| Income tax adjustments (3) | (7,724 | ) | (71,049 | ) | (22,371 | ) | (72,924 | ) | ||||||||||
| Non-GAAP net income | $ | 39,219 | $ | 18,499 | $ | 106,041 | $ | 73,545 | ||||||||||
| GAAP diluted earnings per share | $ | 0.12 | $ | 0.68 | $ | 0.37 | $ | 0.96 | ||||||||||
| Stock-based compensation | 0.09 | 0.04 | 0.28 | 0.19 | ||||||||||||||
| All other items identified above | 0.12 | (0.56 | ) | 0.25 | (0.52 | ) | ||||||||||||
| Non-GAAP diluted earnings per share | $ | 0.33 | $ | 0.16 | $ | 0.90 | $ | 0.63 | ||||||||||
| Weighted average shares outstanding - diluted | 117,363 | 117,500 | 117,565 | 117,423 | ||||||||||||||
