Ariba, Inc. (Nasdaq: ARBA), the world’s business commerce
network, today announced results for the third quarter of fiscal
year 2012 ended June 30, 2012.
Quarterly Financial and Operational Highlights from
Continuing Operations:
- Subscription revenue of $95.3 million,
up 25% year-over-year or 28% in constant currency.
- Network revenue of $47.3 million, up
27% year-over-year or 34% in constant currency.
- Total revenue of $137.0 million, up 12%
year-over-year or 15% in constant currency.
- Loss of $0.01 per share from continuing
operations; non-GAAP EPS of $0.25 from continuing operations, up
25% year-over-year.
Since providing third quarter guidance on April 26, 2012,
currency rate fluctuations negatively impacted third quarter total
revenue by approximately $1 million, primarily in Network
revenue.
Results for the Third Quarter of Fiscal Year 2012
Revenue from Continuing Operations:
Total revenues from continuing operations were $137.0 million
for the third quarter of fiscal year 2012, an increase of 12% or
15% in constant currency compared to $121.9 million for the third
quarter of fiscal year 2011. Subscription and maintenance revenues
for the third quarter of fiscal year 2012 were $108.0 million, an
increase of 19% or 22% in constant currency compared to $91.0
million for the third quarter of fiscal year 2011. Within
subscription and maintenance revenues, subscription software
revenue was $95.3 million for the third quarter of fiscal year
2012, an increase of 25% or 28% in constant currency compared to
$76.4 million for the third quarter of fiscal year 2011. Services
and other revenues for the third quarter of fiscal year 2012 were
$29.0 million compared to $30.9 million for the third quarter of
fiscal year 2011.
Operating Income from Continuing Operations:
Operating income from continuing operations for the third
quarter of fiscal year 2012 was $2.7 million, an increase of $13.6
million compared to an operating loss from continuing operations of
$10.9 million for the third quarter of fiscal year 2011. Operating
income from continuing operations for the third quarter of fiscal
year 2012 included expenses of $4.7 million for amortization of
intangible assets, $18.8 million for stock-based compensation, and
M&A transaction expenses of $2.7 million. Excluding these
items, non-GAAP operating income for the third quarter of fiscal
year 2012 was $28.8 million, representing a 21% non-GAAP operating
margin and an increase of 39% compared to $20.7 million of non-GAAP
operating income for the third quarter of fiscal year 2011.
Non-GAAP operating income for the third quarter of fiscal year 2011
excluded expenses of $4.3 million for amortization of intangible
assets, $14.0 million for stock-based compensation, and
restructuring costs of $13.4 million.
Earnings Per Share from Continuing Operations:
The loss from continuing operations for the third quarter of
fiscal year 2012 was $1.1 million, or $0.01 per share, compared to
a loss from continuing operations of $12.3 million, or $0.13 per
share, for the third quarter of fiscal year 2011. Non-GAAP net
income from continuing operations was $25.1 million, or $0.25 per
diluted share, an increase of 25% compared to $0.20 per diluted
share for the third quarter of fiscal year 2011.
Balance Sheet and Cash Flow
Total cash, cash equivalents, investments and restricted cash
were $286.6 million at June 30, 2012 up $24.5 million from March
31, 2012. The company generated net cash flow from continuing
operations of $26.6 million for the three months ended June 30,
2012. Total deferred revenue was $138.6 million at June 30, 2012,
compared to $134.5 million at June 30, 2011 and $142.6 million at
March 31, 2012.
Constant Currency Information
We calculate constant currency revenue measures by translating
foreign currencies using the average exchange rates from the
previous year instead of the current year. We believe presenting
revenue growth with constant currency revenue measures helps
investors understand how currency exchange rate fluctuations have
affected our revenue growth. We recognize, however, that constant
currency measures have limitations, particularly as the currency
effects that are eliminated constitute a significant element of our
revenue and could materially impact our performance. We caution the
readers of our financial reports to consider constant currency
measures only in addition to, and not as a substitute for or
superior to, changes in revenue, operating expenses, operating
profit, or other measures of financial performance prepared in
accordance with GAAP.
About Ariba, Inc.
Ariba, Inc. is the world’s business commerce network. Ariba
combines industry-leading cloud-based applications with the world's
largest web-based trading community to help companies discover and
collaborate with a global network of partners. Using the Ariba®
Network, businesses of all sizes can connect to their trading
partners anywhere, at any time from any application or device to
buy, sell and manage their cash more efficiently and effectively
than ever before. Join them at: www.ariba.com
Copyright © 1996 – 2012 Ariba, Inc.
Ariba, the Ariba logo, AribaLIVE, Ariba.com, Ariba.com Network,
Ariba Spend Management. Find it. Get it. Keep it. and PO-Flip are
registered trademarks of Ariba, Inc. Ariba Procure-to-Pay, Ariba
Buyer, Ariba eForms, Ariba PunchOut, Ariba Services Procurement,
Ariba Travel and Expense, Ariba Procure-to-Order, Ariba Procurement
Content, Ariba Sourcing, Ariba Savings and Pipeline Tracking, Ariba
Category Management, Ariba Category Playbooks, Ariba StartSourcing,
Ariba Spend Visibility, Ariba Analysis, Ariba Data Enrichment,
Ariba Contract Management, Ariba Contract Compliance, Ariba
Electronic Signatures, Ariba StartContracts, Ariba Invoice
Management, Ariba Payment Management, Ariba Working Capital
Management, Ariba Settlement, Ariba Supplier Information and
Performance Management, Ariba Supplier Information Management,
Ariba Discovery, Ariba Invoice Automation, Ariba PO Automation,
Ariba Express Content, Ariba Ready, and Ariba LIVE are trademarks
or service marks of Ariba, Inc. All other brand or product names
may be trademarks or registered trademarks of their respective
companies or organizations in the United States and/or other
countries.
Ariba Safe Harbor
Safe Harbor Statement under the Private Securities Litigation
Reform Act 1995: Information and announcements in this release
involve Ariba's expectations, beliefs, hopes, plans, intentions or
strategies regarding the future and are forward-looking statements
that involve risks and uncertainties. All forward-looking
statements included in this release are based upon information
available to Ariba as of the date of the release, and we assume no
obligation to update any such forward-looking statements. These
statements are not guarantees of future performance and actual
results could differ materially from our current expectations.
Factors that could cause or contribute to Ariba's operating and
financial results to differ materially from current expectations
include, but are not limited to: the pendency of our agreement to
be acquired by SAP or the failure to complete the merger with SAP;
the impact of adverse economic conditions on Ariba’s results of
operations and financial condition; delays in development or
shipment of new versions of Ariba's products and services; lack of
market acceptance of Ariba's existing or future products or
services; inability to continue to develop competitive new products
and services on a timely basis; introduction of new products or
services by major competitors; the impact of any acquisitions,
including difficulties with the integration process or the
realization of benefits of a transaction; the impact of our
disposition, including the potential disruption of our ongoing
business; the ability to attract and retain qualified employees;
long and unpredictable sales cycles and the deferrals of
anticipated orders; declining economic conditions, including the
impact of a recession; inability to control costs; changes in the
company's pricing or compensation policies; significant
fluctuations in our stock price; the outcome of and costs
associated with pending or potential future regulatory or legal
proceedings; the impact of our acquisitions and dispositions,
including the disruption or loss of customer, business partner,
supplier or employee relationships; and the level of costs and
expenses incurred by Ariba as a result of such transactions.
Factors and risks associated with its business, including a number
of the factors and risks described above, are discussed in Ariba's
Form 10-Q filed with the SEC on May 4, 2012.
Ariba, Inc. and Subsidiaries Condensed Consolidated Balance
Sheets (Unaudited; in thousands) June 30, September
30, 2012 2011 ASSETS Current assets: Cash and cash equivalents $
194,530 $ 196,399 Short-term investments 23,086 28,319 Restricted
cash 29,280 196 Accounts receivable, net 36,748 32,256 Prepaid
expenses and other current assets 19,480
16,191 Total current assets 303,124 273,361 Property
and equipment, net 32,365 32,806 Long-term investments 39,425
26,581 Restricted cash, less current portion 269 29,174 Goodwill
518,011 482,825 Other intangible assets, net 57,489 61,653 Other
assets 8,635 6,741 Total assets $
959,318 $ 913,141 LIABILITIES AND
STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 14,015
$ 8,873 Accrued compensation and related liabilities 46,284 45,169
Accrued liabilities 26,316 24,293 Restructuring obligations 14,495
23,461 Deferred revenue 129,312 114,505
Total current liabilities 230,422 216,301 Restructuring
obligations, less current portion - 8,346 Deferred revenue, less
current portion 9,255 9,181 Contingent liability for acquisition
23,974 23,486 Other long-term liabilities 7,592
7,873 Total liabilities 271,243
265,187 Stockholders' equity: Common stock 204 199
Additional paid-in capital 5,397,181 5,353,514 Accumulated other
comprehensive loss (8,681 ) (3,396 ) Accumulated deficit
(4,700,629 ) (4,702,363 ) Total stockholders' equity
688,075 647,954 Total liabilities and
stockholders' equity $ 959,318 $ 913,141
Ariba, Inc. and Subsidiaries Condensed Consolidated
Statements of Operations (Unaudited; in thousands, except per share
data) Three Months Ended Nine Months
Ended June 30, June 30, 2012 2011 2012 2011 Revenues: Subscription
and maintenance $ 108,011 $ 91,017 $ 307,283 $ 239,724 Services and
other 28,953 30,900 86,805
81,378 Total revenues 136,964
121,917 394,088 321,102
Cost of revenues: Subscription and maintenance 21,171 19,507
64,068 51,477 Services and other 23,961 22,274 69,775 56,798
Amortization of acquired technology and customer intangible assets
4,326 3,954 12,942
8,054 Total cost of revenues 49,458
45,735 146,785 116,329 Gross
profit 87,506 76,182 247,303
204,773 Operating expenses: Sales and
marketing 47,515 43,019 138,095 118,566 Research and development
18,321 16,661 52,605 44,157 General and administrative 18,604
13,708 47,941 38,859 Amortization of other intangible assets 394
331 1,175 573 Restructuring costs - 13,396
- 10,704 Total operating
expenses 84,834 87,115 239,816
212,859 Operating income (loss) 2,672
(10,933 ) 7,487 (8,086 ) Interest and other (expense) income, net
(351 ) 671 (437 ) 1,766
Income (loss) from continuing operations before income taxes 2,321
(10,262 ) 7,050 (6,320 ) Provision for (benefit from) income taxes
3,411 2,021 7,018
(930 ) (Loss) income from continuing operations (1,090 ) (12,283 )
32 (5,390 ) Discontinued operations, net of tax: Income
(loss) from discontinued operations 330 349 1,702 (3,608 ) Gain on
sale of discontinued operations - -
- 39,164 Total discontinued operations
330 349 1,702
35,556 Net (loss) income $ (760 ) $ (11,934 ) $ 1,734
$ 30,166 Basic earnings (loss) per share:
(Loss) income from continuing operations $ (0.01 ) $ (0.13 ) $ 0.00
$ (0.06 ) Discontinued operations, net of tax 0.00
0.00 0.02 0.39 Net (loss)
income per basic common share $ (0.01 ) $ (0.13 ) $ 0.02 $
0.33 Diluted earnings (loss) per share: (Loss) income
from continuing operations $ (0.01 ) $ (0.13 ) $ 0.00 $ (0.06 )
Discontinued operations, net of tax 0.00 0.00
0.02 0.39 Net (loss) income per
diluted common share $ (0.01 ) $ (0.13 ) $ 0.02 $ 0.33
Weighted average shares - basic 96,244 93,101 95,284
91,193 Weighted average shares - diluted 96,244 93,101 98,694
91,193 Ariba, Inc. and Subsidiaries Cash Flows
(Unaudited; in thousands)
Three Months Ended Nine Months Ended June 30, June 30, 2012 2011
2012 2011 Operating activities: Net (loss) income $ (760 ) $
(11,934 ) $ 1,734 $ 30,166 Less income from discontinued
operations, net of tax (330 ) (349 ) (1,702 )
(35,556 ) (Loss) income from continuing operations (1,090 )
(12,283 ) 32 (5,390 ) Adjustments to reconcile income from
continuing operations to net cash provided by operating activities:
Provision for doubtful accounts 316 200 698 472 Depreciation 3,360
2,806 9,646 7,434 Amortization of intangible assets 4,720 4,285
14,117 8,627 Stock-based compensation 18,782 13,999 55,078 41,044
Restructuring costs - 13,396 - 10,704 Changes in operating assets
and liabilities: Accounts receivable (2,136 ) (1,952 ) (4,463 )
(3,248 ) Prepaid expense and other assets (4,429 ) 1,146 (5,645 )
(3,516 ) Accounts payable 1,886 763 3,242 (658 ) Accrued
compensation and related liabilities 11,545 11,943 1,551 4,376
Accrued liabilities 2,899 (28 ) 430 (8,684 ) Deferred revenue
(3,276 ) (7,655 ) 15,092 25,187 Restructuring obligations
(6,015 ) (4,210 ) (17,312 ) (12,485 ) Net cash
provided by continuing operations 26,562 22,410 72,466 63,863 Net
cash provided by (used in) discontinued operations 288
(2,787 ) 1,269 (4,497 ) Net cash
provided by operating activities 26,850 19,623
73,735 59,366 Investing
activities: Cash paid for acquisition, net of cash acquired -
(1,626 ) (47,728 ) (64,288 ) Proceeds from sale of discontinued
operations - 7,851 - 51,000 Purchases of property and equipment
(1,969 ) (12,415 ) (8,586 ) (22,809 ) Purchases of investments, net
of maturities (3,061 ) (8,390 ) (7,311 )
(8,163 ) Net cash used in investing activities (5,030
) (14,580 ) (63,625 ) (44,260 )
Financing activities: Proceeds from issuance of common stock, net
299 627 5,334 4,035 Repurchase of common stock -
- (16,740 ) (12,802 ) Net cash provided
by (used in) financing activities 299 627
(11,406 ) (8,767 ) Effect of exchange
rates on cash and cash equivalents (1,011 ) (285 ) (573 ) (510 )
Net change in cash and cash equivalents 21,108 5,385 (1,869
) 5,829 Cash and cash equivalents at beginning of period
173,422 182,837 196,399 182,393 Cash
and cash equivalents at end of period $ 194,530 $ 188,222
$ 194,530 $ 188,222
Non-GAAP Financial Measures
The following table reconciles financial measures prepared in
accordance with Generally Accepted Accounting Principles in the
United States of America (GAAP) to the most directly comparable
non-GAAP financial measures in the press release.
Non-GAAP financial measures should not be considered as a
substitute for, or superior to, GAAP financial measures, which
should be considered as the primary financial metrics for
evaluating our financial performance. Significantly, non-GAAP
financial measures are not based on a comprehensive set of
accounting rules or principles. Instead, they are based on
subjective determinations by management designed to supplement our
GAAP financial measures. They are subject to a number of important
limitations and should be considered only in conjunction with our
consolidated financial statements prepared in accordance with GAAP.
For example, our non-GAAP financial measures have the effect of
excluding income and expenses from our operating results that
should be properly considered under a system of accrual accounting.
In addition, our non-GAAP financial measures differ from GAAP
measures with the same names, may vary over time and may differ
from non-GAAP financial measures with the same or similar names
used by other companies. Accordingly, investors should exercise
caution when evaluating our non-GAAP financial measures.
Despite these limitations, we believe our non-GAAP financial
measures provide meaningful supplemental information about our
operating results, primarily because they exclude income and
expenses that we do not believe are indicative of the ongoing
operating performance of our business and our senior management.
Although these items should properly be considered in our GAAP
financial measures, we believe they should be excluded when
evaluating our current operating performance. The non-GAAP
financial measures disclosed in the accompanying press release are
used by our Board of Directors and senior management to evaluate
our current operating performance, are used in evaluating the
performance of our senior management, and are used in our budget
and planning processes. We believe that our non-GAAP financial
measures are helpful to investors by facilitating comparisons of
our current and prior operating results and by facilitating
comparisons of our operating results with those of other software
companies.
Ariba, Inc. and Subsidiaries Reconciliation of GAAP to
Non-GAAP Operating Results (Unaudited; in thousands, except per
share data) The following tables
reconcile the specific items excluded from GAAP in the calculation
of non-GAAP operating results for the period indicated below:
Three Months Ended Three Months Ended June 30, 2012 June 30,
2011
Expense
reconciliation:
GAAP revenue $ 136,964 $ 121,917 Less: GAAP net loss (760 )
(11,934 ) Total GAAP expenses 137,724 133,851
Amortization of intangible assets (4,720 ) (4,285 ) Stock-based
compensation (18,782 ) (13,999 ) Restructuring costs - (13,396 )
Transaction costs (2,674 ) - Discontinued operations 330
349 Total non-GAAP operating expenses $
111,878 $ 102,520 Three Months Ended
Three Months Ended June 30, 2012 June 30, 2011
Net income (loss)
reconciliation:
GAAP net loss $ (760 ) $ (11,934 ) Amortization of intangible
assets 4,720 4,285 Stock-based compensation 18,782 13,999
Restructuring costs - 13,396 Transaction costs 2,674 - Discontinued
operations (330 ) (349 ) Non-GAAP income from
continuing operations $ 25,086 $ 19,397
Three Months Ended Three Months Ended June 30, 2012 June 30, 2011
Net income (loss)
per share reconciliation:
GAAP net loss per share - basic $ (0.01 ) $ (0.13 ) Amortization of
intangible assets 0.05 0.05 Stock-based compensation 0.19 0.15
Restructuring costs 0.00 0.14 Transaction costs 0.03 0.00
Discontinued operations (0.00 ) (0.00 ) Non-GAAP
income from continuing operations per share - basic $ 0.26 $
0.21 Non-GAAP income from continuing operations per
share - diluted $ 0.25 $ 0.20 Weighted average shares -
basic 96,244 93,101 Weighted average shares - diluted 100,196
96,721 Ariba, Inc. and Subsidiaries Reconciliation of
GAAP to Non-GAAP Operating Results (Unaudited; in thousands, except
per share data)
The following tables reconcile the
specific items excluded from GAAP in the calculation of non-GAAP
operating results for the period indicated below:
Nine Months Ended Nine Months Ended June 30, 2012 June 30,
2011
Expense
reconciliation:
GAAP revenue $ 394,088 $ 321,102 Less: GAAP net income 1,734
30,166 Total GAAP expenses 392,354 290,936
Amortization of intangible assets (14,117 ) (8,627 )
Stock-based compensation (55,078 ) (41,044 ) Tax accrual reversal -
3,942 Restructuring costs - (10,704 ) Transaction costs (2,674 )
(2,471 ) Discontinued operations 1,702 35,556
Total non-GAAP operating expenses $ 322,187 $ 267,588
Nine Months Ended Nine Months Ended June 30,
2012 June 30, 2011
Net income
reconciliation:
GAAP net income $ 1,734 $ 30,166 Amortization of intangible assets
14,117 8,627 Stock-based compensation 55,078 41,044 Tax accrual
reversal - (3,942 ) Restructuring costs - 10,704 Transaction costs
2,674 2,471 Discontinued operations (1,702 ) (35,556
) Non-GAAP income from continuing operations $ 71,901 $
53,514 Nine Months Ended Nine Months Ended
June 30, 2012 June 30, 2011
Net income per share
reconciliation:
GAAP net income per share - basic $ 0.02 $ 0.33 Amortization of
intangible assets 0.15 0.09 Stock-based compensation 0.57 0.45 Tax
accrual reversal 0.00 (0.04 )
Restructuring costs
0.00 0.12 Transaction costs 0.03 0.03 Discontinued operations
(0.02 ) (0.39 ) Non-GAAP income from continuing
operations per share - basic $ 0.75 $ 0.59
Non-GAAP income from continuing operations per share - diluted $
0.73 $ 0.57 Weighted average shares - basic 95,284 91,193
Weighted average shares - diluted 98,694 94,697
Discussion of Specific Items Excluded From Non-GAAP Financial
Measures
Our non-GAAP financial measures generally exclude expenses or
benefits for (i) amortization of intangible assets related to
acquisitions, (ii) stock-based compensation, (iii) tax accrual
reversal, (iv) restructuring costs, (v) transaction related costs
and (vi) discontinued operations. We exclude these items because we
believe they are not closely related to the ongoing operating
performance of our business and the performance of our senior
management and are generally excluded from our budget and planning
process. In addition to these reasons, we believe our non-GAAP
financial measures are also helpful to investors by facilitating
comparisons of our operating results over different time periods
and by facilitating comparisons of our financial performance with
that of other companies. In addition, except for certain
restructuring costs or benefits, transaction related costs and
discontinued operations, these items are non-cash items that do not
affect cash flows.
(1) Amortization of acquired intangible
assets. In accordance with GAAP, we amortize intangible assets
acquired in connection with acquisitions over the estimated useful
lives of the assets. We exclude these amortization costs in our
non-GAAP financial measures because they (i) result from prior
acquisitions, rather than the ongoing operating performance of our
business, and (ii) absent additional acquisitions, are expected to
decline over time as the remaining carrying amounts of these assets
are amortized. We believe excluding these costs helps investors
compare our financial performance with that of other companies with
different acquisition histories. However, as with impairment
charges, we recognize that amortization costs provide a helpful
measure of the financial impact and performance of prior
acquisitions and consider our non-GAAP financial measures in
conjunction with our GAAP financial results that include
amortization costs.
(2) Stock-based compensation expenses. We
exclude stock-based compensation expense associated with stock
granted to employees and non-employee directors in our non-GAAP
financial measures. While stock-based compensation is a significant
component of our expenses, we believe that investors wish to be
able to exclude the effects of stock-based compensation expense in
comparing our financial performance with that of other
companies.
(3) Tax accrual reversal. We released tax
reserves in the nine months ended June 30, 2011. We exclude these
from our non-GAAP financial measures because they are unrelated to
our ongoing operations. We believe excluding the tax reserve
releases helps investors compare our operating performance with
that of other companies.
(4) Restructuring cost. We recorded a
restructuring cost related to lease abandonment accruals and asset
impairment in the three and nine months ended June 30, 2011. We
exclude these from our non-GAAP financial measures because they are
unrelated to our ongoing operations and are significantly impacted
by factors outside our control. We believe excluding restructuring
costs helps investors compare our operating performance with that
of other companies. We recognize, however, that restructuring costs
will impact cash flows and that we and investors should carefully
consider the impact of these costs on future cash flows.
(5) Transaction related costs. We recorded
transaction related costs in the three and nine months ended June
30, 2012 and nine months ended June 30, 2011. We exclude these from
our non-GAAP financial measures because they are unrelated to our
ongoing operations. We believe excluding the transaction related
costs helps investors compare our operating performance with that
of other companies. We recognize, however, that the transaction
related costs impact cash flow and that we and investors should
carefully consider the impact of this on cash flow.
(6) Discontinued operations. We exclude the
results of discontinued operations from our non-GAAP financial
measures because they are unrelated to our ongoing operations. We
believe excluding the results of discontinued operations helps
investors compare our operating performance with that of other
companies. We recognize, however, that the discontinued operations
impact cash flow and that we and investors should carefully
consider the impact of this on cash flow.
Ariba, Inc. and Subsidiaries Condensed Consolidated
Statements of Operations (Unaudited; in thousands, except per share
data) Three Months Ended
Three Months Ended June 30, June 30,
2012Reported
Adj
2012 Non-GAAP
2011Reported
Adj
2011 Non-GAAP
Revenues: Subscription and maintenance $ 108,011 $ - $ 108,011 $
91,017 $ - $ 91,017 Services and other 28,953
- 28,953 30,900 -
30,900 Total revenues 136,964 -
136,964 121,917 -
121,917 Cost of revenues: Subscription and maintenance (2)
21,171 (1,555 ) 19,616 19,507 (927 ) 18,580 Services and other (2)
23,961 (1,759 ) 22,202 22,274 (1,062 ) 21,212 Amortization of
acquired technology and customer intangible assets (1) 4,326
(4,326 ) - 3,954
(3,954 ) - Total cost of revenues 49,458
(7,640 ) 41,818 45,735
(5,943 ) 39,792 Gross profit 87,506
7,640 95,146 76,182 5,943
82,125 Operating expenses: Sales and marketing
(2) 47,515 (8,402 ) 39,113 43,019 (6,911 ) 36,108 Research and
development (2) 18,321 (2,758 ) 15,563 16,661 (2,118 ) 14,543
General and administrative (2) (5) 18,604 (6,982 ) 11,622 13,708
(2,981 ) 10,727 Amortization of other intangible assets (1) 394
(394 ) - 331 (331 ) - Restructuring costs (4) -
- - 13,396 (13,396
) - Total operating expenses 84,834
(18,536 ) 66,298 87,115 (25,737
) 61,378 Operating income (loss) 2,672 26,176 28,848
(10,933 ) 31,680 20,747 Interest and other (expense) income, net
(351 ) - (351 ) 671
- 671 Income (loss) from continuing operations
before income taxes 2,321 26,176 28,497 (10,262 ) 31,680 21,418
Provision for income taxes 3,411 -
3,411 2,021 -
2,021 Income (loss) from continuing operations (1,090 ) 26,176
25,086 (12,283 ) 31,680 19,397 Discontinued operations, net of tax:
Income from discontinued operations (6) 330
(330 ) - 349 (349 ) -
Total discontinued operations 330 (330 )
- 349 (349 ) - Net
(loss) income $ (760 ) $ 25,846 $ 25,086 $ (11,934 )
$ 31,331 $ 19,397 Basic (loss) earnings per share:
(Loss) income from continuing operations $ (0.01 ) $ 0.26 $ (0.13 )
$ 0.21 Discontinued operations, net of tax 0.00
0.00 0.00 0.00 Net (loss) income
per basic common share $ (0.01 ) $ 0.26 $ (0.13 ) $ 0.21
Diluted (loss) earnings per share: (Loss) income from
continuing operations $ (0.01 ) $ 0.25 $ (0.13 ) $ 0.20
Discontinued operations, net of tax 0.00 0.00
0.00 0.00 Net (loss) income per diluted
common share $ (0.01 ) $ 0.25 $ (0.13 ) $ 0.20
Weighted average shares - basic 96,244 96,244 93,101 93,101
Weighted average shares - diluted 96,244 100,196 93,101 96,721
Ariba, Inc. and Subsidiaries Condensed Consolidated
Statements of Operations (Unaudited; in thousands, except per share
data) Nine Months Ended
Nine Months Ended June 30, June 30,
2012Reported
Adj
2012 Non-GAAP
2011Reported
Adj
2011 Non-GAAP
Revenues: Subscription and maintenance $ 307,283 $ - $ 307,283 $
239,724 $ - $ 239,724 Services and other 86,805
- 86,805 81,378 -
81,378 Total revenues 394,088 -
394,088 321,102 -
321,102 Cost of revenues: Subscription and
maintenance (2) 64,068 (4,828 ) 59,240 51,477 (2,612 ) 48,865
Services and other (2) 69,775 (5,248 ) 64,527 56,798 (3,055 )
53,743 Amortization of acquired technology and customer intangible
assets (1) 12,942 (12,942 ) -
8,054 (8,054 ) - Total cost of revenues
146,785 (23,018 ) 123,767
116,329 (13,721 ) 102,608 Gross profit
247,303 23,018 270,321
204,773 13,721 218,494 Operating
expenses: Sales and marketing (2) 138,095 (24,614 ) 113,481 118,566
(20,372 ) 98,194 Research and development (2) 52,605 (8,440 )
44,165 44,157 (6,199 ) 37,958 General and administrative (2) (5)
47,941 (14,622 ) 33,319 38,859 (11,277 ) 27,582 Amortization of
other intangible assets (1) 1,175 (1,175 ) - 573 (573 ) -
Restructuring costs (4)
- - - 10,704
(10,704 ) - Total operating expenses
239,816 (48,851 ) 190,965
212,859 (49,125 ) 163,734 Operating
income 7,487 71,869 79,356 (8,086 ) 62,846 54,760 Interest and
other (expense) income, net (437 ) -
(437 ) 1,766 - 1,766 Income
(loss) from continuing operations before income taxes 7,050 71,869
78,919 (6,320 ) 62,846 56,526 Provision for (benefit from) income
taxes (3) 7,018 - 7,018
(930 ) 3,942 3,012
Income (loss) from continuing
operations
32 71,869 71,901 (5,390 ) 58,904 53,514 Discontinued operations,
net of tax: Income (loss) from discontinued operations (6) 1,702
(1,702 ) - (3,608 ) 3,608 - Gain on sale of discontinued operations
(6) - - - 39,164
(39,164 ) - Total discontinued operations
1,702 (1,702 ) - 35,556
(35,556 ) - Net income $ 1,734 $
70,167 $ 71,901 $ 30,166 $ 23,348 $
53,514 Basic earnings (loss) per share: Income (loss) from
continuing operations $ 0.00 $ 0.75 $ (0.06 ) $ 0.59 Discontinued
operations, net of tax 0.02 0.00
0.39 0.00 Net income per basic common share $ 0.02
$ 0.75 $ 0.33 $ 0.59 Diluted earnings
(loss) per share: Income (loss) from continuing operations $ 0.00 $
0.73 $ (0.06 ) $ 0.57 Discontinued operations, net of tax
0.02 0.00 0.39 0.00 Net
income per diluted common share $ 0.02 $ 0.73 $ 0.33
$ 0.57 Weighted average shares - basic 95,284 95,284
91,193 91,193 Weighted average shares - diluted 98,694 98,694
91,193 94,697
Ariba (NASDAQ:ARBA)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Ariba (NASDAQ:ARBA)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024
