1. Tech Data Corporation Nine months
Reconciliation of GAAP to Non-GAAP Measures (unaudited) Three months ended ended
(In thousands, except per share amounts) October 31, July 31, April 30, October 31,
2005 2005 2005 2005
Operating income
$ 44,055 $ 13,838 $ 53,947 $ 111,840
GAAP operating income
4,813 19,289 - 24,102
Restructuring charges
Other costs (1) 3,174 2,091 - 5,265
$ 52,042 $ 35,218 $ 53,947 $ 141,207
Non-GAAP operating income
Net income (loss)
$ 22,964 $ (59,414) $ 33,523 $ (2,927)
GAAP net income (loss)
4,813 19,289 - 24,102
Restructuring charges
Other costs (1) 3,174 2,091 - 5,265
(236) (1,866) - (2,102)
Tax effect on restructuring charges and other costs
- 56,039 - 56,039
Deferred tax assets valuation allowance
$ 30,715 $ 16,139 $ 33,523 $ 80,377
Non-GAAP net income
Net income (loss) per diluted share
$ 0.40 $ (1.02) $ 0.56 $ (0.05)
GAAP net income (loss) per diluted share
$ 0.53 $ 0.27 $ 0.56 $ 1.37
Non-GAAP net income per diluted share
Weighted average diluted shares outstanding
57,935 58,313 59,752 58,195
GAAP Basis
Non-GAAP Basis (2) 57,935 58,923 59,752 58,862
(1)
Other costs represent consulting costs related to the company's EMEA restructuring program.
(2)
Non-GAAP weighted average diluted shares outstanding include the dilutive impact of the company's equity incentives of 570,000, 610,000 and 820,000
for the three months ended October 31, July 31 and April 30, 2005, respectively and 667,000 for the nine months ended October 31, 2005.