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Monotype Imaging Completes Acquisition Of Bitstream’s Font Business

10. What will happen to MyFonts?

MyFonts is recognized as one of the top e-commerce font websites in the world. It features the WhatTheFont identification service, which enables people to quickly and easily identify fonts. Unknown fonts are submitted as images, which are then identified by Bitstream or people who use the site. Bitstream cultivated an active creative community, helping to drive exciting, innovative design. The company also delivered an excellent user experience and gave type designers considerable control over the work and business. Monotype Imaging intends to maintain MyFonts.com, with an eye toward supporting and extending the best aspects of MyFonts within the company’s cloud-based offerings.

11. How will Bitstream’s OEM business be integrated?

Bitstream brings to Monotype Imaging highly experienced OEM professionals and a complementary customer base that maps directly into the markets Monotype Imaging serves, particularly in Display Imaging. The acquisition opens opportunity to expand within Bitstream OEM accounts to provide additional value, while adding depth to Monotype Imaging’s family of OEM products and services.

12. Will Bitstream agreements continue to be honored?

Monotype Imaging will continue to honor the terms and conditions of all existing agreements for current Bitstream customers.

Additional information about the merger is available on the SEC website by accessing Monotype Imaging’s Form 8-K, which announces the transaction and includes the merger agreement.

 

MONOTYPE IMAGING HOLDINGS INC.

OTHER INFORMATION

 

RECONCILIATION OF CURRENT FORECASTED GAAP EARNINGS PER DILUTED SHARE TO FORECASTED NON-GAAP EARNINGS PER DILUTED SHARE

(Unaudited and in thousands, except share and per share data)

   

Low End of Guidance

 

High End of Guidance

  2012     2012
GAAP net income $ 25,300 $ 27,300
Amortization, net of tax 6,400 6,400
Share-based compensation, net of tax   4,200   4,200
 
Non-GAAP net income   35,900   37,900
 
 
GAAP earnings per diluted share $ 0.68 $ 0.73
Amortization, net of tax, per diluted share 0.17 0.17
Share-based compensation, net of tax, per diluted share   0.11   0.11
 
Non-GAAP earnings per diluted share $ 0.96 $ 1.01
 
Weighted average diluted shares used to compute non-GAAP earnings per share

37,500,000

37,500,000

Assumes 36% effective tax rate.

 
 

MONOTYPE IMAGING HOLDINGS INC.

 

RECONCILIATION OF PREVIOUSLY FORECASTED GAAP EARNINGS PER DILUTED SHARE TO FORECASTED NON-GAAP EARNINGS PER DILUTED SHARE

(Unaudited and in thousands, except share and per share data)

   

Low End of Guidance

 

High End of Guidance

  2012     2012
GAAP net income $ 25,300 $ 27,300
Amortization, net of tax 5,200 5,200
Share-based compensation, net of tax   4,200   4,200
 
Non-GAAP net income   34,700   36,700
 
 
GAAP earnings per diluted share $ 0.68 $ 0.73
Amortization, net of tax, per diluted share 0.14 0.14
Share-based compensation, net of tax, per diluted share   0.11   0.11
 
Non-GAAP earnings per diluted share $ 0.93 $ 0.98
 
Weighted average diluted shares used to compute non-GAAP earnings per share

37,500,000

37,500,000

Assumes 36% effective tax rate.

 
 

MONOTYPE IMAGING HOLDINGS INC.

RECONCILIATION OF PREVIOUSLY FORECASTED GAAP OPERATING INCOME TO FORECASTED NON-GAAP NET ADJUSTED EBITDA

(Unaudited and in thousands)

   

Low End of Guidance

High End of Guidance

  2012   2012
GAAP operating income $ 41,200 $ 44,200
Depreciation and amortization 9,300 9,300
Share-based compensation   6,500   6,500
 
Non-GAAP net adjusted EBITDA $

57,000

$ 60,000
 
 

MONOTYPE IMAGING HOLDINGS INC.

RECONCILIATION OF CURRENT FORECASTED GAAP OPERATING INCOME TO FORECASTED NON-GAAP NET ADJUSTED EBITDA

(Unaudited and in thousands)

   

Low End of Guidance

High End of Guidance

  2012   2012
GAAP operating income $ 41,300 $ 45,300
Depreciation and amortization 11,200 11,200
Share-based compensation   6,500   6,500
 
Non-GAAP net adjusted EBITDA $

59,000

$ 63,000
 
 

MONOTYPE IMAGING HOLDINGS INC.

 

RECONCILIATION OF FORECASTED GAAP EARNINGS PER DILUTED SHARE TO FORECASTED NON-GAAP EARNINGS PER DILUTED SHARE

(Unaudited and in thousands, except share and per share data)

   

Low End of Guidance

High End of Guidance

Q1 2012 Q1 2012
GAAP net income $ 5,700 $ 6,200
Amortization, net of tax 1,300 1,300
Share-based compensation, net of tax   1,100   1,100
 
Non-GAAP net income $ 8,100 $ 8,600
 
 
GAAP earnings per diluted share $ 0.15 $ 0.17
Amortization, net of tax, per diluted share 0.03 0.03
Share-based compensation, net of tax, per diluted share   0.03   0.03
 
Non-GAAP earnings per diluted share $ 0.21 $ 0.23
 
 
Weighted average diluted shares used to compute non-GAAP earnings per share

37,300,000

37,300,000

Assumes 37% effective tax rate.

 
 

MONOTYPE IMAGING HOLDINGS INC.

RECONCILIATION OF FORECASTED GAAP OPERATING INCOME TO FORECASTED NON-GAAP NET ADJUSTED EBITDA

(Unaudited and in thousands)

   

Low End of Guidance

High End of Guidance

Q1 2012 Q1 2012
GAAP operating income $ 9,400 $ 10,400
Depreciation and amortization 2,300 2,300
Share-based compensation   1,800   1,800
 
Non-GAAP net adjusted EBITDA $ 13,500 $ 14,500




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