Exhibit 99.1 Reconciliation of Non-GAAP Financial Measures |
The following presents reconciliations of the non-GAAP financial measures included in the "Cabot Microelectronics |
2008 Investor Day" presentation. |
Reconciliation of Non-GAAP Gross Profit % Excluding Pads Business to the Nearest Comparable GAAP Measure |
(in thousands except %) |
Six Months | ||||||||||||||||||||
Fiscal Year Ended September 30, | Ended | |||||||||||||||||||
2004 | 2005 | 2006 | 2007 | March 31, 2008 | ||||||||||||||||
GAAP - Total Company as Reported | ||||||||||||||||||||
Revenue | $ | 309,433 | $ | 270,484 | $ | 320,795 | $ | 338,205 | $ | 187,866 | ||||||||||
Cost of Goods Sold | $ | 156,805 | $ | 141,282 | $ | 171,758 | $ | 178,224 | $ | 100,817 | ||||||||||
Gross Profit | $ | 152,628 | $ | 129,202 | $ | 149,037 | $ | 159,981 | $ | 87,049 | ||||||||||
Gross Profit % | 49.3 | % | 47.8 | % | 46.5 | % | 47.3 | % | 46.3 | % | ||||||||||
Pads Business | ||||||||||||||||||||
Revenue | $ | 2,245 | $ | 486 | $ | 234 | $ | 494 | $ | 5,072 | ||||||||||
Cost of Goods Sold | $ | 4,530 | $ | 1,307 | $ | 1,919 | $ | 3,870 | $ | 7,198 | ||||||||||
Non-GAAP Total Excluding Pads Business | ||||||||||||||||||||
Revenue | $ | 307,188 | $ | 269,998 | $ | 320,561 | $ | 337,711 | $ | 182,794 | ||||||||||
Cost of Goods Sold | $ | 152,275 | $ | 139,975 | $ | 169,839 | $ | 174,354 | $ | 93,619 | ||||||||||
Gross Profit | $ | 154,913 | $ | 130,023 | $ | 150,722 | $ | 163,357 | $ | 89,175 | ||||||||||
Gross Profit % | 50.4 | % | 48.2 | % | 47.0 | % | 48.4 | % | 48.8 | % |
Reconciliation of Non-GAAP Cash Flow Measures to the Nearest Comparable GAAP Measures | |||||
(in thousands) | |||||
Cumulative | |||||
Five Years | |||||
Ended | |||||
March 31, 2008 | |||||
GAAP Measures - Cash Used in Investing Activities: | |||||
Acquisitions of Businesses Including Earnout, net of Cash Acquired | $ | 23,419 | |||
Purchase of Patents | 5,000 | ||||
Acquisition of Patent License | 3,000 | ||||
Purchase of Equity Investments | 3,750 | ||||
Non-GAAP Measure - Cash Used for Acquisitions, including IP Related | $ | 35,169 | |||
GAAP Measure - Cash from Operations | $ | 290,107 | |||
Less: | Cash Used for Capital Investments | (87,422 | ) | ||
Cash Used for Share Repurchases | (74,992 | ) | |||
Cash Used for Acquisitions, including IP Related | (35,169 | ) | |||
Non-GAAP Measure - Cash Used for Increases in Liquidity | $ | 92,524 |
In addition, on the same slide of the "Cabot Microelectronics 2008 Investor Day" presentation on which | ||||
the non-GAAP measures above are presented, certain terms were abbreviated as follows: | ||||
Abbreviated Description per Investor Day Presentation | Equivalent GAAP Description per Statement of Cash Flows | |||
Cash from Operations | Cash Provided by Operating Activities | |||
Share Repurchases | Repurchases of Common Stock | |||
Capital Investments | Additions to Property, Plant and Equipment | |||
Intellectual Property (IP) | Purchase of Patents or Acquisition of Patent License | |||