Attached files
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8-K - FORM 8-K - INFORMATICA CORP | f54761e8vk.htm |
EX-2.1 - EX-2.1 - INFORMATICA CORP | f54761exv2w1.htm |
Exhibit 99.1
Contacts:
|
Debbie OBrien | Stephanie Wakefield | ||
Corporate Communications | Investor Relations | |||
+ 1 650 385 5735 | +1 650 385 5261 | |||
dobrien@informatica.com | swakefield@informatica.com |
INFORMATICA REPORTS RECORD QUARTERLY REVENUES OF $151 MILLION AND 25 PERCENT LICENSE REVENUE GROWTH
Achieves Annual Revenues of $500 Million
Achieves Annual Revenues of $500 Million
REDWOOD CITY, Calif., January 28, 2010 Informatica Corporation (NASDAQ: INFA), the worlds
number one independent provider of data integration software, today announced financial results for
the fourth quarter and the year ended December 31, 2009.
Revenues for the fourth quarter of 2009 were $150.9 million, up 21 percent from the $124.4
million recorded in the fourth quarter of 2008. License revenues for the fourth quarter were $71.6
million, up 25 percent from the $57.2 million recorded in the fourth quarter of 2008. Income from
operations for the fourth quarter, calculated in accordance with U.S. generally accepted accounting
principles (GAAP), was $35.0 million. This compares to $39.5 million in income from operations in
the fourth quarter of 2008, which included the one time benefit of $11.5 million from
patent-related litigation proceeds net of patent contingency accruals. GAAP net income for the
fourth quarter of 2009 was $25.0 million or $0.25 per diluted share, up over 19 percent from $19.9
million or $0.21 per diluted share in the fourth quarter of 2008. For the three-month periods
ended December 31, 2009 and December 31, 2008, earnings per diluted share is calculated on an if
converted basis, including the add-back of $1.0 million and $1.1 million, respectively, of
interest and convertible notes issuance cost amortization, net of income taxes.
Non-GAAP income from operations for the fourth quarter of 2009 was $44.2 million, up 24
percent from $35.6 million in the fourth quarter of 2008. Non-GAAP net income for the fourth
quarter of 2009 was $31.5 million or $0.31 per diluted share, up 29 percent from $23.5 million or
$0.24 per diluted share in the fourth quarter of 2008. Non-GAAP income from operations and
non-GAAP net income exclude charges and benefits related to the amortization of acquired technology
and intangible assets, share-based payments, facilities restructurings,
acquisitions and other, and patent-related litigation proceeds net of patent contingency
accruals. A reconciliation of GAAP results to non-GAAP results is included below.
For the year ended December 31, 2009, revenues were $500.7 million, an increase of 10 percent
from the $455.7 million recorded in 2008. License revenues for the year 2009 were $214.3 million,
up nine percent from $195.8 million for the year 2008. GAAP income from operations for 2009 was $89.4
million, up six percent from $84.2 million for 2008. GAAP net income for the year 2009 was $64.2
million or $0.66 per diluted share, up over 13 percent from $56.0 million or $0.58 per diluted
share for the year 2008. Non-GAAP income from operations for the year of 2009 was $125.2 million,
up 24 percent from $101.2 million for the year 2008. Non-GAAP net income for 2009 was $89.6
million or $0.91 per diluted share, up over 19 percent from $74.8 million or $0.76 per diluted share
in 2008. For the years ended December 31, 2008 and December 31, 2009, earnings per diluted share
is calculated on an if converted basis, including the add-back of $4.0 million in 2009 and $4.3
million in 2008 of interest and convertible notes issuance cost amortization, net of income taxes.
Non-GAAP income from operations and non-GAAP net income exclude charges and benefits related to the
amortization of acquired technology and intangible assets, share-based payments, facilities
restructurings, acquisitions and other, and patent-related litigation proceeds net of patent
contingency accruals.
In 2009, we attained our fifth consecutive record year. Over the past five years, we
consistently achieved year-over-year growth rates that are significantly faster than the enterprise
software industry, said Sohaib Abbasi, chairman and CEO of Informatica. Clearly, our singular
mission, compelling value proposition and the teams relentless pace of innovation are driving
record results in all economic times.
Significant milestones achieved since October 2009 include:
| Signed repeat business with 356 customers. Customers continue to derive considerable value from their investments in Informatica solutions. Repeat customers included Alcatel-Lucent, Bell Mobility, British Sky Broadcasting, Monsanto, Standard & Poors, Thomson Corporation, Union Bank, and US Xpress. | ||
| Added 74 new customers. Informatica increased its customer base this quarter to 3,931 companies. New customers included the Asseco Poland, Columbia Sportswear |
Company, ENMAX, the Federation of State Medical Boards, HealthNow of New York, Sensis and Tatung University. | |||
| Acquired Siperian, a visionary pioneer in the Master Data Management (MDM) infrastructure technology category. The new MDM Infrastructure category expands Informaticas addressable market. Based on the existing tight integration between Informatica and Siperian products, Informatica is even better prepared to advance its leadership in its core data integration and MDM infrastructure markets. | ||
| Launched Informatica 9. The first and only data integration platform enabling the data-driven enterprise through Business-IT Collaboration, Pervasive Data Quality and SOA-Based Data Services. The Platform combines products in six categories: enterprise data integration, data quality, B2B data exchange, application information lifecycle management, complex event processing and cloud computing data integration. | ||
| Launched Informatica Cloud 9. A comprehensive offering for cloud integration, comprised of the Informatica Cloud Platform a multi-tenant, enterprise-class data integration platform-as-a-service, new and enhanced cloud software-as-a-service offerings and Informatica Address Quality Cloud Services running on Amazon EC2. | ||
| Achieved SWIFT Certification. Scoring 99% to 100% from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) on rigorous SWIFTReady MDS Certification, the Informatica Platform achieved one of the most technically advanced solution categories defined by SWIFT. | ||
| Positioned in the Leaders Quadrant in the Gartner 2009 Data Integration Tools Magic Quadrant. According to the report, Leaders in the data integration tools market are front-runners in the convergence of single purpose tools into an offering that supports a range of data delivery styles. These vendors are strong in the more traditional data integration patterns such as ETL, they support newer patterns such as data federation, and provide capabilities that enable data services in the context of SOA. Leaders have significant mind share in the market, and resources skilled with their tools are readily available. These vendors establish market trends, to a large degree, by providing new |
functional capabilities in their products, and by identifying new types of business problems where data integration tools can bring significant value. | |||
| Informatica Cloud Data Loader named 2009 Best Data Integration Tool. For the second consecutive year Informatica, the preferred data integration partner for salesforce.com, garnered more four and five star reviews than any other integration product in its category. More than 500 companies around the world use Informatica Cloud to integrate their Salesforce CRM applications and Force.com platform with their back office systems. | ||
| Announced $50 million Stock Repurchase Authorization. Informaticas Board of Directors has approved $50 million to replenish the existing authorization under the Companys common stock repurchase program, including the repurchase of its outstanding common stock and convertible notes from time to time. The company expects to repurchase shares to offset the otherwise dilutive impact of stock option exercise and restricted stock vesting activity. Purchases may be made, from time to time, in the open market and will be funded from available working capital. The number of shares to be purchased and the timing of purchases will be based on several factors, including the price of Informaticas stock, general business and market conditions, and other investment opportunities. |
Conference Call and Webcast
Informatica will discuss its fourth quarter and full-year 2009 results and its acquisition of
Siperian on a conference call today beginning at 2:00 p.m. PST. A live Webcast of the conference
call will be available at http://www.informatica.com/investor. A replay of the call will also be
available by dialing 706-645-9291, reservation number 49661073.
About Informatica
Informatica Corporation (NASDAQ: INFA) is the worlds number one provider of data integration
software. The Informatica Platform provides organizations with a comprehensive, unified, open and
economical approach to lower IT costs and gain competitive advantage from their information assets.
More than 3,900 enterprises worldwide rely on Informatica to access, integrate and trust their
information assets held in the traditional enterprise and in the internet cloud. For more
information, call +1 650-385-5000 (1-800-653-3871 in the U.S.), or visit www.informatica.com.
Non-GAAP Financial Information
To supplement Informaticas condensed consolidated financial statements prepared and presented on a
GAAP basis, Informatica uses non-GAAP financial measures of income from operations, net income and
net income per share. These measures are adjusted from income from operations, net income or net
income per share prepared in accordance with GAAP to exclude the charges and expenses discussed
above. The presentation of these non-GAAP financial measures are not meant to be considered in
isolation or as a substitute for, or superior to, net income or net income per share prepared in
accordance with GAAP.
Informatica believes the disclosure of such non-GAAP financial measures is appropriate to enhance
an overall understanding of its financial performance, its financial and operational decision
making, and as a means to evaluate period to period comparisons. These adjustments to the Companys
GAAP results are made with the intent of providing both management and investors a more complete
understanding of Informaticas performance, by excluding certain expenses and expenditures such as
non-cash charges and discrete charges that are infrequent in nature, such as charges related to
acquisitions, that may not be indicative of its underlying operating results. In addition,
Informatica believes these non-GAAP financial measures are useful to investors because they allow
for greater transparency into the indicators used by management as a basis for its financial and
operational decision making. Informatica believes that the disclosure of these non-GAAP financial
measures provides consistency and comparability of its recent financial results with its historical
financial results, as well as to the operating results of similar companies in Informaticas
industry, many of which present similar non-GAAP financial measures to investors. As an example,
Informatica believes that it enhances comparability with similar companies operating results by
excluding stock-based compensation in its non-GAAP financial measures because of the different
types of stock-based awards that companies may grant and because SFAS 123(R) allows companies to
use different valuation methodologies and subjective assumptions. In addition, Informatica
believes that both management and investors benefit from referring to these non-GAAP financial
measures when planning, analyzing and forecasting future periods.
There are a number of limitations related to these non-GAAP financial measures: (1) the non-GAAP
measures exclude some costs that are recurring, particularly share-based payments, and we believe
that share-based compensation will continue to be a significant recurring expense for the
foreseeable future; because share-based compensation is an important part of our employees
compensation, such payments can impact their performance; and (2) the items we exclude in our
non-GAAP measures may differ from the components our peer companies exclude when they report their
non-GAAP measures. Management compensates for these limitations by providing specific information
regarding the GAAP amounts excluded from non-GAAP measures and evaluating non-GAAP measures
together with the corresponding measures calculated in accordance with GAAP.
Forward Looking Statements
This press release contains forward-looking statements relating to Informaticas opportunity for
growth in the data integration market and the expected benefits of the Siperian acquisition to
customers, to Informaticas addressable market and to Informaticas technology leadership. Such
statements involve risks and uncertainties, and actual results may differ materially from the
results described in this press release. The potential risks and uncertainties that could cause
actual results to differ include, among others, risks related to (1) competition with larger
companies that have longer operating histories and greater financial, technical, marketing, and
other resources; (2) uncertainty in the state of IT spending and the continued growth in the market
for data integration solutions in general; (3) lack of control regarding our strategic partners
devotion of adequate resources to promote, sell, implement, and support our products; (4)
successfully integrating Siperian, its products, technologies and employees into Informatica and
achieve expected synergies and (5) retain key employees . Additional risks and uncertainties are
included under the caption Risk Factors in Informaticas report on Form 10-K for the year ended
December 31, 2008 and 10-Q for the quarter ended September 30, 2009, which are on file with the SEC
and is available on the Companys investor relations website at http://www.informatica.com/. All
information provided in this release is as of January 28, 2010 and Informatica undertakes no duty
to update this information.
###
Note: Informatica is a registered trademark of Informatica Corporation in the United States
and in jurisdictions throughout the world. All other company and product names may be trade names
or trademarks of their respective owners.
INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
Three Months Ended | Years Ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
Revenues: |
||||||||||||||||
License |
$ | 71,552 | $ | 57,191 | $ | 214,322 | $ | 195,769 | ||||||||
Service |
79,345 | 67,221 | 286,371 | 259,930 | ||||||||||||
Total revenues |
150,897 | 124,412 | 500,693 | 455,699 | ||||||||||||
Cost of revenues: |
||||||||||||||||
License |
1,111 | 979 | 3,135 | 3,291 | ||||||||||||
Service |
20,944 | 18,718 | 76,549 | 80,287 | ||||||||||||
Amortization of acquired technology |
2,453 | 1,271 | 7,950 | 4,125 | ||||||||||||
Total cost of revenues |
24,508 | 20,968 | 87,634 | 87,703 | ||||||||||||
Gross profit |
126,389 | 103,444 | 413,059 | 367,996 | ||||||||||||
Operating expenses: |
||||||||||||||||
Research and development |
21,263 | 18,038 | 78,352 | 72,522 | ||||||||||||
Sales and marketing |
57,381 | 44,919 | 192,747 | 177,339 | ||||||||||||
General and administrative |
10,803 | 10,484 | 41,449 | 37,411 | ||||||||||||
Amortization of intangible assets |
2,812 | 1,718 | 10,051 | 4,575 | ||||||||||||
Facilities restructuring charges |
(300 | ) | 254 | 1,661 | 3,018 | |||||||||||
Acquisitions and other |
(570 | ) | | (570 | ) | 390 | ||||||||||
Patent related litigation proceeds net of patent contingency accruals |
| (11,495 | ) | | (11,495 | ) | ||||||||||
Total operating expenses |
91,389 | 63,918 | 323,690 | 283,760 | ||||||||||||
Income from operations |
35,000 | 39,526 | 89,369 | 84,236 | ||||||||||||
Interest income and other, net |
(303 | ) | 914 | 449 | 7,737 | |||||||||||
Income before income taxes |
34,697 | 40,440 | 89,818 | 91,973 | ||||||||||||
Income tax provision |
9,726 | 20,568 | 25,607 | 35,993 | ||||||||||||
Net income |
$ | 24,971 | $ | 19,872 | $ | 64,211 | $ | 55,980 | ||||||||
Basic net income per common share |
$ | 0.28 | $ | 0.23 | $ | 0.73 | $ | 0.64 | ||||||||
Diluted net income per common share (1) |
$ | 0.25 | $ | 0.21 | $ | 0.66 | $ | 0.58 | ||||||||
Shares used in computing basic net income per common share |
89,589 | 87,178 | 87,991 | 88,109 | ||||||||||||
Shares used in computing diluted net income per common share |
105,807 | 101,767 | 103,312 | 103,278 | ||||||||||||
(1) | Diluted EPS is calculated under the if converted method for the three months and the years ended December 31, 2009 and 2008. This includes the add-back of interest and convertible notes issuance cost amortization, net of applicable income taxes of $1.0 million and $1.1 million for the three months ended December 31, 2009 and 2008, respectively, and $4.0 million and $4.3 million for the years ended December 31, 2009 and 2008, respectively. |
INFORMATICA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
December 31, | December 31, | |||||||
2009 | 2008 | |||||||
(unaudited) | ||||||||
Assets |
||||||||
Current assets: |
||||||||
Cash and cash equivalents |
$ | 159,197 | $ | 179,874 | ||||
Short-term investments |
305,283 | 281,055 | ||||||
Accounts receivable, net of allowances of $3,454 in 2009 and $2,558 in
2008 |
110,653 | 87,492 | ||||||
Deferred tax assets |
30,384 | 22,336 | ||||||
Prepaid expenses and other current assets |
15,251 | 12,498 | ||||||
Total current assets |
620,768 | 583,255 | ||||||
Property and equipment, net |
7,928 | 9,063 | ||||||
Goodwill and intangible assets, net |
350,595 | 254,592 | ||||||
Long-term deferred tax assets |
2,296 | 7,294 | ||||||
Other assets |
8,723 | 8,908 | ||||||
Total assets |
$ | 990,310 | $ | 863,112 | ||||
Liabilities and stockholders equity |
||||||||
Current liabilities: |
||||||||
Accounts payable and other current liabilities |
$ | 96,654 | $ | 71,282 | ||||
Accrued facilities restructuring charges |
19,880 | 19,529 | ||||||
Deferred revenues |
139,629 | 120,892 | ||||||
Total current liabilities |
256,163 | 211,703 | ||||||
Convertible senior notes |
201,000 | 221,000 | ||||||
Accrued facilities restructuring charges, less current portion |
32,845 | 44,939 | ||||||
Long-term deferred revenues |
4,531 | 8,847 | ||||||
Long-term income taxes payable |
12,176 | 20,668 | ||||||
Stockholders equity |
483,595 | 355,955 | ||||||
Total liabilities and stockholders equity |
$ | 990,310 | $ | 863,112 | ||||
INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Years Ended | ||||||||
December 31, | ||||||||
2009 | 2008 | |||||||
(unaudited) | ||||||||
Operating activities: |
||||||||
Net income |
$ | 64,211 | $ | 55,980 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: |
||||||||
Depreciation and amortization |
5,513 | 5,618 | ||||||
Allowance for doubtful accounts |
320 | 1,268 | ||||||
Gain on early extinguishment of debt |
(337 | ) | (1,015 | ) | ||||
Share-based payments |
17,926 | 16,321 | ||||||
Deferred income taxes |
(8,578 | ) | (10,874 | ) | ||||
Tax benefits from share-based payments |
11,391 | 9,907 | ||||||
Excess tax benefits from share-based payments |
(8,670 | ) | (5,094 | ) | ||||
Amortization of intangible assets and acquired technology |
18,001 | 8,700 | ||||||
Non-cash facilities restructuring charges |
1,661 | 3,018 | ||||||
Other non-cash items |
504 | 370 | ||||||
Changes in operating assets and liabilities: |
||||||||
Accounts receivable |
(19,631 | ) | (5,959 | ) | ||||
Prepaid expenses and other assets |
(2,987 | ) | 3,298 | |||||
Accounts payable and other current liabilities |
(4,478 | ) | 2,246 | |||||
Income taxes payable |
5,933 | 13,210 | ||||||
Accrued facilities restructuring charges |
(13,239 | ) | (12,628 | ) | ||||
Deferred revenues |
9,262 | 15,529 | ||||||
Net cash provided by operating activities |
76,802 | 99,895 | ||||||
Investing activities: |
||||||||
Purchases of property and equipment |
(3,303 | ) | (4,728 | ) | ||||
Purchases of investments |
(462,440 | ) | (468,880 | ) | ||||
Purchase of investment in equity interest |
| (3,000 | ) | |||||
Purchase of patents |
(2,420 | ) | (1,300 | ) | ||||
Maturities and sales of investments |
437,155 | 470,005 | ||||||
Business acquisitions, net of cash acquired |
(86,024 | ) | (86,980 | ) | ||||
Transfer from restricted cash |
| 12,016 | ||||||
Net cash used in investing activities |
(117,032 | ) | (82,867 | ) | ||||
Financing activities: |
||||||||
Net proceeds from issuance of common stock |
41,697 | 27,582 | ||||||
Repurchases and retirement of common stock |
(12,835 | ) | (56,996 | ) | ||||
Repurchases of convertible senior notes |
(19,200 | ) | (7,774 | ) | ||||
Excess tax benefits from share-based payments |
8,670 | 5,094 | ||||||
Net cash provided by (used in) financing activities |
18,332 | (32,094 | ) | |||||
Effect of foreign exchange rate changes on cash and cash equivalents |
1,221 | (8,721 | ) | |||||
Net decrease in cash and cash equivalents |
(20,677 | ) | (23,787 | ) | ||||
Cash and cash equivalents at beginning of period |
179,874 | 203,661 | ||||||
Cash and cash equivalents at end of period |
$ | 159,197 | $ | 179,874 | ||||
INFORMATICA CORPORATION
GAAP TO NON-GAAP RESULTS
(in thousands, except per share data)
(unaudited)
GAAP TO NON-GAAP RESULTS
(in thousands, except per share data)
(unaudited)
Three Months Ended | Years Ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Total revenues |
$ | 150,897 | $ | 124,412 | $ | 500,693 | $ | 455,699 | ||||||||
Operating income: |
||||||||||||||||
GAAP operating income |
$ | 35,000 | $ | 39,526 | $ | 89,369 | $ | 84,236 | ||||||||
Percentage of GAAP operating income to total revenues |
23 | % | 32 | % | 18 | % | 18 | % | ||||||||
Plus: |
||||||||||||||||
Amortization of acquired technology Cost of revenues |
2,453 | 1,271 | 7,950 | 4,125 | ||||||||||||
Amortization of intangible assets Operating expenses |
2,812 | 1,718 | 10,051 | 4,575 | ||||||||||||
Facilities restructuring charges Operating expenses |
(300 | ) | 254 | 1,661 | 3,018 | |||||||||||
Acquisitions and other Operating expenses |
(570 | ) | | (570 | ) | 390 | ||||||||||
Share-based payments Cost of revenues |
575 | 489 | 2,199 | 2,023 | ||||||||||||
Share-based payments Research and development |
1,345 | 1,067 | 4,813 | 4,110 | ||||||||||||
Share-based payments Sales and marketing |
1,579 | 1,461 | 5,976 | 5,396 | ||||||||||||
Share-based payments General and administrative |
1,295 | 1,320 | 4,938 | 4,792 | ||||||||||||
Patent contingency accrual reversal General and administrative |
| | (1,170 | ) | | |||||||||||
Patent related litigation proceeds net of patent contingency
accruals Operating expenses |
| (11,495 | ) | | (11,495 | ) | ||||||||||
Non-GAAP operating income |
$ | 44,189 | $ | 35,611 | $ | 125,217 | $ | 101,170 | ||||||||
Percentage of Non-GAAP operating income to total revenues |
29 | % | 29 | % | 25 | % | 22 | % | ||||||||
Net income: |
||||||||||||||||
GAAP net income |
$ | 24,971 | $ | 19,872 | $ | 64,211 | $ | 55,980 | ||||||||
Plus: |
||||||||||||||||
Amortization of acquired technology Cost of revenues |
2,453 | 1,271 | 7,950 | 4,125 | ||||||||||||
Amortization of intangible assets Operating expenses |
2,812 | 1,718 | 10,051 | 4,575 | ||||||||||||
Facilities restructuring charges Operating expenses |
(300 | ) | 254 | 1,661 | 3,018 | |||||||||||
Acquisitions and other Operating expenses |
(570 | ) | | (570 | ) | 390 | ||||||||||
Share-based payments Cost of revenues |
575 | 489 | 2,199 | 2,023 | ||||||||||||
Share-based payments Research and development |
1,345 | 1,067 | 4,813 | 4,110 | ||||||||||||
Share-based payments Sales and marketing |
1,579 | 1,461 | 5,976 | 5,396 | ||||||||||||
Share-based payments General and administrative |
1,295 | 1,320 | 4,938 | 4,792 | ||||||||||||
Patent contingency accrual reversal General and administrative |
| | (1,170 | ) | | |||||||||||
Patent related litigation proceeds net of patent contingency
accruals Operating expenses |
| (11,495 | ) | | (11,495 | ) | ||||||||||
Income tax adjustments |
(2,644 | ) | 7,497 | (10,428 | ) | 1,880 | ||||||||||
Non-GAAP net income |
$ | 31,516 | $ | 23,454 | $ | 89,631 | $ | 74,794 | ||||||||
INFORMATICA CORPORATION
GAAP TO NON-GAAP RESULTS
(in thousands, except per share data)
(unaudited)
GAAP TO NON-GAAP RESULTS
(in thousands, except per share data)
(unaudited)
Three Months Ended | Years Ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
Diluted net income per share: (1) |
||||||||||||||||
Diluted GAAP net income per share |
$ | 0.25 | $ | 0.21 | $ | 0.66 | $ | 0.58 | ||||||||
Plus: |
||||||||||||||||
Amortization of acquired technology |
0.02 | 0.01 | 0.08 | 0.04 | ||||||||||||
Amortization of intangible assets |
0.03 | 0.02 | 0.10 | 0.04 | ||||||||||||
Facilities restructuring charges |
| | 0.02 | 0.03 | ||||||||||||
Acquisitions and other |
(0.01 | ) | | (0.01 | ) | | ||||||||||
Share-based payments |
0.05 | 0.04 | 0.17 | 0.16 | ||||||||||||
Patent contingency accrual reversal |
| | (0.01 | ) | | |||||||||||
Patent related litigation proceeds net of patent contingency accruals |
| (0.11 | ) | | (0.11 | ) | ||||||||||
Income tax adjustments |
(0.03 | ) | 0.07 | (0.10 | ) | 0.02 | ||||||||||
Diluted Non-GAAP net income per share |
$ | 0.31 | $ | 0.24 | $ | 0.91 | $ | 0.76 | ||||||||
Shares used in computing diluted Non-GAAP net income per share |
105,807 | 101,957 | 103,312 | 103,937 | ||||||||||||
(1) | Diluted EPS is calculated under the if converted method for the three months and the years ended December 31, 2009 and 2008. This includes the add-back of interest and convertible notes issuance cost amortization, net of applicable income taxes of $1.0 million and $1.1 million for the three months ended December 31, 2009 and 2008, respectively, and $4.0 million and $4.3 million for the years ended December 31, 2009 and 2008, respectively. |