Adjusted EBITDA for the three and nine months ended September 30, 2011 are presented based on the new credit facility’s definition of that term. However, Adjusted EBITDA for the three and nine months ended September 30, 2010 are presented based on the definition of such term in the Company’s prior credit facility in place for those periods. The definitions of EBITDA and Adjusted EBITDA in the new credit facility are substantially unchanged from the definitions of those terms in the Company’s prior credit facility, except that financial restructuring costs are not added back to net income under the new credit facility. For the three months and nine months ended September 30, 2010, as applicable, such items were added back to net income to arrive at Adjusted EBITDA based upon the terms of the prior credit facility. Had these adjustments not been in place in 2010, Adjusted EBITDA would have decreased by $0.8 million and $25.6 million for the three and nine months ended September 30, 2010, respectively.EBITDA is defined as net income (loss) before interest expense, income tax provision (benefit) and depreciation (including non-cash impairment charges) and amortization.
Xerium Technologies Reports Third Quarter Results
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