| Q213 Reconciliation of GAAP to Non-GAAP Amount % of Net Revenues Amount % of Net Revenues GAAP gross margin 65,727 $ 68.4% 58,395 $ 65.1% Amortization of acquired intangibles 1,883 1,901 Stock-based compensation 3,036 874 Non-GAAP gross margin 70,646 $ 73.5% 61,170 $ 68.2% GAAP operating (loss) income (5,849) $ -6.1% 12,063 $ 13.4% Amortization of acquired intangibles 2,836 2,857 Stock-based compensation 27,189 5,084 Restructuring charges (benefit) 801 (34) Recapitalization costs 6,041 - Non-GAAP operating income 31,018 $ 32.3% 19,970 $ 22.3% GAAP net (loss) income (4,155) $ 7,197 $ Amortization of acquired intangibles 2,836 2,857 Stock-based compensation 27,189 5,084 Restructuring charges (benefit) 801 (34) Recapitalization costs 6,692 - Income tax adjustment (1) (13,642) (2,645) Non-GAAP net income 19,721 $ 12,459 $ GAAP net (loss) income (4,155) $ 7,197 $ Net interest 1,351 457 (Benefit) provision for income taxes (3,024) 4,063 Depreciation expense 2,920 2,943 Amortization expense 3,352 3,529 Stock-based compensation 27,189 5,084 Adjusted EBITDA 27,633 $ 23,273 $ Diluted net income (loss) per share GAAP (0.08) $ 0.14 $ Non-GAAP 0.37 $ 0.24 $ Shares used to compute GAAP diluted net (loss) income per share 51,639 52,977 Shares used to compute Non-GAAP diluted net income per share 53,772 52,977 (1) The estimated non-GAAP effective tax rate was 35% for the three months ended June 30, 2013 and 2012, respectively, and has been used to adjust the provision for income taxes for non-GAAP net income and non-GAAP diluted net income per share purposes. 2013 2012 ADVENT SOFTWARE, INC. RECONCILIATION OF SELECTED CONTINUING OPERATIONS' GAAP MEASURES TO NON-GAAP MEASURES (In thousands, except per share data) (Unaudited) To supplement our condensed consolidated financial statements presented in accordance with generally accepted accounting principles in the United States of America (or GAAP), Advent uses non-GAAP measures of continuing operations' gross margin, operating income, net income and net income per share, which are adjusted to exclude certain costs, expenses, income, gains and losses we believe appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future. These adjustments to our current period GAAP results are made with the intent of providing both management and investors a more complete understanding of Advent’s underlying operational results and trends and our marketplace performance. In addition, these non-GAAP results are among the information management uses as a basis for our planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for results prepared in accordance with GAAP. Three Months Ended June 30 |