P3291: Lawson - Year-to-Year Comparisons: Lawson Software Operating Results - GAAP And Non-GAAP Views

This document is available in two formats: this web page (for browsing content) and PDF (comparable to original document formatting). To view the PDF you will need Acrobat Reader, which may be downloaded from the Adobe site. For an official signed copy, please contact the Antitrust Documents Group.

Government Exhibit P3291

Year-to-Year Comparisons
Lawson Software Operating Results - GAAP and Non-GAAP Views

		Fourth Fiscal Quarter					Full Fiscal Year

	Q4 '04 GAAP	Q4 '03 GAAP	% YTY change	Q4 '04 Non-GAAP	Q4 '03 Non-GAAP	% YTY change	Q4 '04 GAAP	Q4 '03 GAAP	% YTY change	Q4 '04 Non-GAAP	Q4 '03 Non-GAAP	% YTY change
License Fees Services Total Revenues	$27,169 72,541 99,710	$26,271 64,388 90,659	3% 13% 10%	$27,169 72,541 99,710	$26,271 64,386 90,659	3% 13% 10%	$92,338 271,245 363,583	$ 77,614 266,704 344,318	19% 2% 6%	$92,338 271,245 363,583	$77,614 266,704 344,318	19% 2% 6%
Cost of License Fees Cost of Services	3,958 36,209	4,479 34,021	12% 6%	3,144 35,866	4,098 33,973	-23% 6%	$15,948 136,299	14,367 141,717	11% -4%	13,234 135,896	12,872 141,518	3% -4%
Gross Profit % Margin	59,543 60%	52,159 58%	14% +2 pts	60,700 61%	52,588 58%	15% +3 pts	211,336 58%	188,234 55%	12% +3 pts	214,453 59%	189,928 55%	13% +4 pts
Research and Development EIR %	17,756 18%	15,227 17%	17% + 1 pts	17.696 18%	15,076 17%	17% +1 pts	64,888 18%	59,115 17%	10% +1 pts	64,638 18%	58,450 17%	11% +1 pts
Sales and Marketing EIR%	25,027 25%	25,697 28%	-3% -3 pts	24,917 25%	25,421 28%	-2% -3 pts	93,138 26%	102,963 30%	-10% -4 pts	92,681 26%	102,147 30%	-9% -4 pts
General and Administrative EIR %	9,321 9%	8,778 10%	6% -1 pts	9,179 9%	8,546 9%	7% 0 pts	37,721 10%	29,972 9%	26% +1 pts	37,130 10%	27,539 8%	35% +2 pts
Restructuring Charges (Adjustments) Amortization of Acquired Intangibles	- 362	(258) 223	N/M 62%	- -	- -	- -	2,210 1,274	6,035 877	-63% 45%	- -	- -	- -
Total Operating Expenses	52,466	49,667	6%	51,792	49,043	6%	199,231	198,962	0%	194,449	188,136	3%
Operating Income (Loss)	7,077	2,492	184%	8,908	3,545	151%	12,105	(10,728)	213%	20,004	1,792	1016%
Operating Margin	7%	3%	+4 pts	9%	4%	+5 pts	3%	-3%	+6 pts	6%	1%	+5 pts
Other Income (Expense), Net	806	1,171	31%	806	1,171	-31%	3,209	4,457	-28%	3,209	4,457	-28%
Income (Loss) Before Taxes	7,883	3,663	115%	9,714	4,716	106%	15,314	(6,271)	344%	23,213	6,249	271%
Provision (Benefit) for Taxes (1)	4,425	1,428	210%	3,789	1,839	106%	7,323	(2,446)	399%	9,053	2,437	271%
Net Income (Loss)	3,458	2,235	55%	5,925	2,877	106%	7,991	(3,825)	309%	14,160	3,812	271%
EPS: Basic Diluted	$ 0.04 $ 0.03	0.02 0.02	54% 51%	$ 0.06 $ 0.06	$ 0.03 $ 0.03	105% 101%	$ 0.08 $ 0.07	$ (0.04) $ (0.04)	308% 292%	$ 0.14 $ 0.13	$ 0.04 $ 0.04	270% 260%
Shares: Basic Diluted	98,433 105,984	97,949 103,341	0% 3%	98,433 105,984	97,949 103,341	0% 3%	98,462 107,000	98,165 98,165	0% 9%	98,462 107,000	98,165 103,713	0% 3%

Notes:
(1) For the trhee and twelve months ended May 31, 2004, the non-GAAP provision for income taxes is calculated at a rate of 39%, which excludes two items in the GAAP provision - a deferred tax valuation allowance of $1,195 and a deferred tax adjustment of $156 related to a past acquisition.

Updated August 14, 2015