Non-GAAP income from operations and non-GAAP income from operations margin.<\/strong> These non-GAAP financial measures exclude noncash stock-based compensation charges and additional FICA and related payroll tax expense incurred by Commvault when employees exercise in the money stock options or vest in restricted stock awards as well as restructuring costs. In fiscal 2020, Commvault also excluded costs related to a non-routine shareholder matter. Commvault has also excluded the noncash amortization and impairment of intangible assets and certain costs related to key employees of Hedvig from its non-GAAP results. These expenses are further discussed in Table IV. Commvault believes that these non-GAAP financial measures are useful metrics for management and investors because they compare Commvault\u2019s core operating results over multiple periods. When evaluating the performance of Commvault\u2019s operating results and developing short- and long-term plans, Commvault does not consider such expenses. <\/p>\n\n\n\nAlthough noncash stock-based compensation and the additional FICA and related payroll tax expenses are necessary to attract and retain employees, Commvault places its primary emphasis on stockholder dilution as compared to the accounting charges related to such equity compensation plans. Commvault believes that providing non-GAAP financial measures that exclude noncash stock-based compensation expense and the additional FICA and related payroll tax expenses incurred on stock option exercises and vesting of restricted stock awards allow investors to make meaningful comparisons between Commvault\u2019s operating results and those of other companies.<\/p>\n\n\n\n
Amortization and impairment charges of intangible assets are noncash items. Commvault believes the exclusion of these expenses provide for a useful comparison of operating results to prior periods and to other companies.<\/p>\n\n\n\n
There are a number of limitations related to the use of non-GAAP income from operations and non-GAAP income from operations margin. The most significant limitation is that these non-GAAP financial measures exclude certain operating costs, primarily related to noncash stock-based compensation, which is of a recurring nature. Noncash stock-based compensation has been, and will continue to be for the foreseeable future, a significant recurring expense in Commvault\u2019s operating results. In addition, noncash stock-based compensation is an important part of Commvault\u2019s employees\u2019 compensation and can have a significant impact on their performance. Lastly, the components that Commvault excludes in its non-GAAP financial measures may differ from the components that its peer companies exclude when they report their non-GAAP financial measures. <\/p>\n\n\n\n
Commvault\u2019s management generally compensates for the limitations described above related to the use of non-GAAP financial measures by providing investors with a reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure. Further, Commvault management uses non-GAAP financial measures only in addition to, and in conjunction with, results presented in accordance with GAAP.<\/p>\n\n\n\n
Non-GAAP net income and non-GAAP diluted earnings per share (EPS). <\/strong>In addition to the adjustments discussed in non-GAAP income from operations, non-GAAP net income and non-GAAP diluted EPS incorporate a non-GAAP effective tax rate of 27%. <\/p>\n\n\n\nCommvault anticipates that in any given period its non-GAAP tax rate may be either higher or lower than the GAAP tax rate as evidenced by historical fluctuations. The GAAP tax rates in recent fiscal years were not meaningful percentages due to the dollar amount of GAAP pre-tax income. For the same reason as the GAAP tax rates, the estimated cash tax rates in recent fiscal years are not meaningful percentages. Commvault defines its cash tax rate as the total amount of cash income taxes payable for the fiscal year divided by consolidated GAAP pre-tax income. Over time, Commvault believes its GAAP and cash tax rates will align.<\/p>\n\n\n\n
Commvault considers non-GAAP net income and non-GAAP diluted EPS useful metrics for Commvault management and its investors for the same basic reasons that Commvault uses non-GAAP income from operations and non-GAAP income from operations margin. In addition, the same limitations as well as management actions to compensate for such limitations described above also apply to Commvault\u2019s use of non-GAAP net income and non-GAAP EPS.<\/p>\n\n\n\n
Conference Call Information<\/strong><\/p>\n\n\n\nCommvault will host a conference call today, October 27, 2020, at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) to discuss its financial results. To access this call, dial 844-742-4247 (domestic) or 661-378-9470 (international). The live webcast can be accessed under the “Events” section of Commvault’s website. An archived webcast of this conference call will also be available following the call.<\/p>\n","protected":false},"excerpt":{"rendered":"
Commvault today announced its financial results for the second quarter ended September 30, 2020. <\/p>\n","protected":false},"author":24,"featured_media":494367,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_custom_css":"","_custom_js_footer":"","_page_background_color":"","_remove_from_search":false,"_dark_mode":false,"_light_footer_mode":false,"_sidebar_form":{"id":"","name":"","cta":"","redirect":""},"_alert_notification_bar":{"show":true,"bg_color":"","content":"","call_to_action_label":"","call_to_action_link":""},"_footer_cta":{"show":false,"title":"","subtitle":"","cta_text":"","cta_link":"","background":{"id":0,"url":""}},"_cmv_customer_logo":{"id":0,"url":""},"_use_boilerplate":""},"class_list":{"0":"post-29277","1":"news","2":"type-news","3":"status-publish","4":"has-post-thumbnail","6":"entry"},"yoast_head":"\n
Commvault Announces Fiscal 2021 Second Quarter Financial Results<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\t\n","yoast_head_json":{"title":"Commvault Announces Fiscal 2021 Second Quarter Financial Results","description":"Tinton Falls, N.J. \u2013 October\u00a027, 2020 \u2013 Commvault today announced its financial results for the second quarter ended September 30, 2020.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commvault.com\/de\/news\/commvault-announces-fiscal-2021-second-quarter-financial-results","og_locale":"en_US","og_type":"article","og_title":"Commvault announces fiscal 2021 second quarter financial results","og_description":"Tinton Falls, N.J. \u2013 October\u00a027, 2020 \u2013 Commvault today announced its financial results for the second quarter ended September 30, 2020.","og_url":"https:\/\/www.commvault.com\/de\/news\/commvault-announces-fiscal-2021-second-quarter-financial-results","og_site_name":"Commvault - 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