ANSYS, INC. AND SUBSIDIARIES Reconciliation of Non-GAAP Measures (Unaudited) (in thousands, except percentages and per share data) | |||||||
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| Twelve Months Ended | ||||||
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| December 31, 2011 | December 31, 2010 | |||||
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| As | Non-GAAP |
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| Reported | Adjustments | Results | Reported | Adjustments | Results | |
Total revenue | $691,449 | $9,621(1) | $701,070 | $580,236 |
| $580,236 | |
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Operating income | 265,559 | 86,550(2) | 352,109 | 219,268 | $67,749(4) | 287,017 | |
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Operating profit margin | 38.4% |
| 50.2% | 37.8% |
| 49.5% | |
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Net income | $180,675 | $58,301(3) | $238,976 | $153,132 | $44,977(5) | $198,109 | |
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Earnings per share - diluted: |
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Diluted earnings per share | $1.91 |
| $2.53 | $1.64 |
| $ 2.13 | |
| Weighted average shares - diluted | 94,381 |
| 94,381 | 93,209 |
| 93,209 | |
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(1) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with accounting for deferred revenue in business combinations. (2) Amount represents $51.7 million of amortization expense associated with intangible assets acquired in business acquisitions, $23.1 million of stock-based compensation expense, the $9.6 million adjustment to revenue as reflected in (1) above and $2.1 million of transaction expenses related to the Apache acquisition. (3) Amount represents the impact of the adjustments to operating income referred to in (2) above, adjusted for the related income tax impact of $28.2 million. (4) Amount represents $48.7 million of amortization expense associated with intangible assets acquired in business acquisitions and a $19.0 million charge for stock-based compensation. (5) Amount represents the impact of the adjustments to operating income referred to in (4) above, adjusted for the related income tax impact of $22.8 million. | |||||||
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Ansys, Inc. Reports Record Revenue and Earnings Results for Fourth Quarter and Fiscal Year 2011
Note: The 2011 GAAP and non-GAAP net income and earnings per share data reflected above include approximately $4.8 million, or $0.05 per share, related to income tax expense associated with reductions to the Japanese corporate tax rate, beginning with the 2013 tax year. This legislation, enacted on November 30, 2011, resulted in an additional $4.8 million in deferred tax expense due to the reduction in the value of the net deferred tax assets of the Company's Japanese subsidiaries.
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