Government Exhibit P3291
Year-to-Year Comparisons Lawson Software Operating Results - GAAP and Non-GAAP Views | | Fourth Fiscal Quarter | Full Fiscal Year |
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| 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 |
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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. |