ABX HOLDINGS, INC.
NON-GAAP RECONCILIATION
Net Earnings to Earnings Before Interest, Taxes, Depreciation and Amortization
(EBITDA)
(Unaudited)
Three Months Ended Twelve Months Ended
Dec 31 Dec 31
| ------------ | -------------- | ---------- | ----------- | |||
| 2007 | 2006 | 2007 | 2006 | |||
| ------------ | -------------- | ----------- | ----------- | |||
| GAAP NET EARNINGS | $ 8,371 | $ 68,928 | $ 19,587 | $ 90,054 | ||
| Income Tax Expense (Benefit) | 6,035 | (54,041) | 13,701 | (54,041) | ||
| Interest Income | (929) | (1,255) | (4,557) | (4,775) | ||
| Interest Expense | 3,765 | 3,149 | 14,067 | 11,547 | ||
| Depreciation and Amortization | 13,465 | 11,658 | 51,747 | 45,660 | ||
| --------- | ----------- | ----------- | ----------- | |||
| EARNINGS BEFORE INTEREST, TAXES | ||||||
| DEPRECIATION AND AMORTIZATION | $ 30,707 | $ 28,439 | $ 94,545 | $ 88,445 | ||
| ======= | ======== | ====== | ======= |
EBITDA is a non-GAAP financial measure and should not be considered an alternative to net income (loss) or any other performance measure derived in accordance with GAAP. EBITDA is defined as income (loss) from operations plus net interest expense, provision for income taxes, depreciation and amortization. The Company’s management uses this adjusted financial measure in conjunction with GAAP financial measures to monitor and evaluate the performance of the Company, including as a measure of liquidity. EBITDA should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP, or as an alternative measure of liquidity