• Adjusted EBITDA excludes the effects of financing and investing activities by eliminating the effects of interest, depreciation and amortization costs;
• Management considers gain/(loss) on the sale of assets and impairment to result from investing decisions rather than ongoing operations; and
• Other significant items, while periodically affecting our results, may vary significantly from period to period and have a disproportionate effect in a given period.
Reconciliation of Net (Loss) Income to Non-GAAP Adjusted EBITDA
(Unaudited, in millions)
|13 Weeks Ended|
|April 28, 2012||April 28, 2012||April 30, 2011|
|Interest expense, net||6.6||6.6||5.6|
|Income tax benefit||(3.3||)||(2.9||)||(0.6||)|
|Depreciation and amortization||7.8||7.8||7.2|
|Loss on sale of real property and impairment of assets||0.2||0.2||0.1|
|Other significant items||0.3||0.3||(0.2||)|
About OrchardOrchard Supply Hardware Stores Corporation is a specialty retailer primarily focused on homeowners with repair, maintenance and improvement needs. Founded as a purchasing cooperative in San Jose in 1931, today the stores average 44,000 square feet of enclosed retail space and 8,000 square feet of exterior nursery and garden space, carrying a broad assortment of merchandise across three primary categories: repair and maintenance, lawn and garden and in-home products. As of April 28, 2012, the Company had 88 stores in California.