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8-K - FORM 8-K DATED MAY 11, 2012 - AVID TECHNOLOGY, INC. | f8k_05112012.htm |
EXHIBIT 99.1
AVID TECHNOLOGY, INC.
(in thousands except per share data, unaudited)
Reconciliations of GAAP financial measures to Non-GAAP financial measures: | ||||||||||||||||||||
Three Months Ended March 31, 2012 | ||||||||||||||||||||
Gross | Operating | Operating | Tax | Net | ||||||||||||||||
Profit | Expenses | Loss | Provision | Loss | ||||||||||||||||
GAAP | $ | 77,564 | $ | 89,826 | $ | (12,262 | ) | $ | 521 | $ | (12,977 | ) | ||||||||
Amortization of intangible assets | 650 | (1,611 | ) | 2,261 | 2,261 | |||||||||||||||
Restructuring costs, net | (168 | ) | 168 | 168 | ||||||||||||||||
Acquisition and other costs (a) | (231 | ) | 231 | 231 | ||||||||||||||||
Tax adjustment | 253 | (253 | ) | |||||||||||||||||
Stock-based compensation included in: | ||||||||||||||||||||
Cost of products revenues | 94 | 94 | 94 | |||||||||||||||||
Cost of services revenues | 157 | 157 | 157 | |||||||||||||||||
Research and development expenses | (306 | ) | 306 | 306 | ||||||||||||||||
Marketing and selling expenses | (1,261 | ) | 1,261 | 1,261 | ||||||||||||||||
General and administrative expenses | (1,315 | ) | 1,315 | 1,315 | ||||||||||||||||
Non-GAAP | $ | 78,465 | $ | 84,934 | $ | (6,469 | ) | $ | 774 | $ | (7,437 | ) | ||||||||
Weighted-average shares outstanding - diluted | 38,662 | |||||||||||||||||||
Non-GAAP net loss per share - diluted | $ | (0.19 | ) | |||||||||||||||||
Three Months Ended December 31, 2011 (Revised) | ||||||||||||||||||||
Gross | Operating | Operating | Tax | Net | ||||||||||||||||
Profit | Expenses | (Loss) Income | Benefit | (Loss) Income | ||||||||||||||||
GAAP | $ | 99,439 | $ | 101,290 | $ | (1,851 | ) | $ | (2,318 | ) | $ | (30 | ) | |||||||
Amortization of intangible assets | 657 | (2,063 | ) | 2,720 | 2,720 | |||||||||||||||
Restructuring costs, net | (8,770 | ) | 8,770 | 8,770 | ||||||||||||||||
Tax adjustment | 750 | (750 | ) | |||||||||||||||||
Stock-based compensation included in: | ||||||||||||||||||||
Cost of products revenues | 2 | 2 | 2 | |||||||||||||||||
Cost of services revenues | 156 | 156 | 156 | |||||||||||||||||
Research and development expenses | (300 | ) | 300 | 300 | ||||||||||||||||
Marketing and selling expenses | (1,105 | ) | 1,105 | 1,105 | ||||||||||||||||
General and administrative expenses | (985 | ) | 985 | 985 | ||||||||||||||||
Non-GAAP | $ | 100,254 | $ | 88,067 | $ | 12,187 | $ | (1,568 | ) | $ | 13,258 | |||||||||
Weighted-average shares outstanding - diluted | 38,584 | |||||||||||||||||||
Non-GAAP net income per share - diluted | $ | 0.34 | ||||||||||||||||||
(a) Represents costs included in general and administrative expenses |
AVID TECHNOLOGY, INC.
(in thousands except per share data, unaudited)
Reconciliations of GAAP financial measures to Non-GAAP financial measures: | ||||||||||||||||||||
Three Months Ended September 30, 2011 (Revised) | ||||||||||||||||||||
Gross | Operating | Operating | Tax | Net | ||||||||||||||||
Profit | Expenses | (Loss) Income | Provision | (Loss) Income | ||||||||||||||||
GAAP | $ | 88,365 | $ | 92,739 | $ | (4,374 | ) | $ | 2,672 | $ | (7,549 | ) | ||||||||
Amortization of intangible assets | 685 | (2,159 | ) | 2,844 | 2,844 | |||||||||||||||
Restructuring costs, net | (2,707 | ) | 2,707 | 2,707 | ||||||||||||||||
Legal settlement and acquisition-related costs (a) | (163 | ) | 163 | 163 | ||||||||||||||||
Tax adjustment | 1,008 | (1,008 | ) | |||||||||||||||||
Stock-based compensation included in: | ||||||||||||||||||||
Cost of products revenues | 168 | 168 | 168 | |||||||||||||||||
Cost of services revenues | 63 | 63 | 63 | |||||||||||||||||
Research and development expenses | (435 | ) | 435 | 435 | ||||||||||||||||
Marketing and selling expenses | (1,051 | ) | 1,051 | 1,051 | ||||||||||||||||
General and administrative expenses | (1,970 | ) | 1,970 | 1,970 | ||||||||||||||||
Non-GAAP | $ | 89,281 | $ | 84,254 | $ | 5,027 | $ | 3,680 | $ | 844 | ||||||||||
Weighted-average shares outstanding - diluted | 38,530 | |||||||||||||||||||
Non-GAAP net income per share - diluted | $ | 0.02 | ||||||||||||||||||
Three Months Ended June 30, 2011 (Revised) | ||||||||||||||||||||
Gross | Operating | Operating | Tax | Net | ||||||||||||||||
Profit | Expenses | Loss | Benefit | Loss | ||||||||||||||||
GAAP | 82,368 | 93,459 | (11,091 | ) | (590 | ) | (11,146 | ) | ||||||||||||
Amortization of intangible assets | 685 | (2,161 | ) | 2,846 | 2,846 | |||||||||||||||
Restructuring costs, net | (162 | ) | 162 | 162 | ||||||||||||||||
Legal settlement and acquisition-related costs (a) | (392 | ) | 392 | 392 | ||||||||||||||||
Loss on sales of assets | (597 | ) | 597 | 597 | ||||||||||||||||
Tax adjustment | 245 | (245 | ) | |||||||||||||||||
Stock-based compensation included in: | ||||||||||||||||||||
Cost of products revenues | 110 | 110 | 110 | |||||||||||||||||
Cost of services revenues | 277 | 277 | 277 | |||||||||||||||||
Research and development expenses | (427 | ) | 427 | 427 | ||||||||||||||||
Marketing and selling expenses | (1,356 | ) | 1,356 | 1,356 | ||||||||||||||||
General and administrative expenses | (1,846 | ) | 1,846 | 1,846 | ||||||||||||||||
Non-GAAP | $ | 83,440 | $ | 86,518 | $ | (3,078 | ) | $ | (345 | ) | $ | (3,378 | ) | |||||||
Weighted-average shares outstanding - diluted | 38,413 | |||||||||||||||||||
Non-GAAP net loss per share - diluted | $ | (0.09 | ) | |||||||||||||||||
(a) Represents costs included in general and administrative expenses |
AVID TECHNOLOGY, INC.
(in thousands except per share data, unaudited)
Reconciliations of GAAP financial measures to Non-GAAP financial measures: | ||||||||||||||||||||
Three Months Ended March 31, 2011 (Revised) | ||||||||||||||||||||
Gross | Operating | Operating | Tax | Net | ||||||||||||||||
Profit | Expenses | (Loss) Income | Provision | (Loss) Income | ||||||||||||||||
GAAP | $ | 87,166 | $ | 90,692 | $ | (3,526 | ) | $ | 957 | $ | (4,783 | ) | ||||||||
Amortization of intangible assets | 666 | (2,145 | ) | 2,811 | 2,811 | |||||||||||||||
Restructuring recoveries, net | 1,476 | (1,476 | ) | (1,476 | ) | |||||||||||||||
Tax adjustment | 55 | (55 | ) | |||||||||||||||||
Stock-based compensation included in: | ||||||||||||||||||||
Cost of products revenues | 139 | 139 | 139 | |||||||||||||||||
Cost of services revenues | 268 | 268 | 268 | |||||||||||||||||
Research and development expenses | (472 | ) | 472 | 472 | ||||||||||||||||
Marketing and selling expenses | (1,218 | ) | 1,218 | 1,218 | ||||||||||||||||
General and administrative expenses | (2,036 | ) | 2,036 | 2,036 | ||||||||||||||||
Non-GAAP | $ | 88,239 | $ | 86,297 | $ | 1,942 | $ | 1,012 | $ | 630 | ||||||||||
Weighted-average shares outstanding - diluted | 38,686 | |||||||||||||||||||
Non-GAAP net income per share - diluted | $ | 0.02 | ||||||||||||||||||