results. We believe that these non-GAAP measures, when read in
conjunction with the Company's GAAP financials, provide useful
information to investors by offering:
-- the ability to make more meaningful period-to-period comparisons
of the Company's on-going operating results;
-- the ability to better identify trends in the Company's underlying
business and perform related trend analyses;
-- a better understanding of how management plans and measures the
Company's underlying business; and
-- an easier way to compare the Company's operating results against
analyst financial models and operating results of competitors that
supplement their GAAP results with non-GAAP financial measures.
The following are explanations of each of the adjustments that we
incorporate into non-GAAP measures, as well as the reasons for
excluding each of these individual items in the reconciliations of
these non-GAAP financial measures:
Stock-based compensation expense consists of non-cash charges for
the estimated fair value of stock options and unvested share bonus
awards granted to employees and assumed in business acquisitions.
The Company believes that the exclusion of these charges provides
for more accurate comparisons of its operating results to peer
companies due to the varying available valuation methodologies,
subjective assumptions and the variety of award types. In
addition, the Company believes it is useful to investors to
understand the specific impact the application of SFAS 123R has on
its operating results.
Restructuring charges include severance, impairment, lease
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