Non-GAAP Financial Measures Reconciliations:
|SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES|
|Non-GAAP Financial Measures Reconciliations|
|(In thousands, except per share data)|
|Three Months Ended|
|Net earnings (per GAAP)||$||69,487||$||69,143||0.5||%|
|Depreciation and amortization||16,299||15,273||6.7||%|
|Interest expense (1)||26,925||27,741||-2.9||%|
|Litigation settlement (2)||-||(27,000||)|
|Other non-recurring items (2)||-||5,749|
|Provision for income taxes||40,135||39,367||2.0||%|
|Adjusted EBITDA (Non-GAAP)||$||155,671||$||132,735||17.3||%|
|Net earnings (per GAAP)||$||69,487||$||69,143|
|Loss on extinguishment of debt (1)||3,231||-|
|Litigation settlement and other non-recurring items, net (2)||-||(21,251||)|
|Tax provision for the adjustments to net earnings (3)||(1,163||)||7,863|
|Adjusted net earnings, excluding non-recurring items (Non-GAAP)||$||71,555||$||55,755||28.3||%|
|Adjusted net earnings per share (Non-GAAP):|
|Weighted average shares:|
|(1)||For the three months ended June 30, 2012, interest expense includes $3.2 million in unamortized deferred financing costs expensed in connection with the Company's May 2012 repayment in full of its senior term loan B.|
|(2)||Results for the three months ended June 30, 2011, reflect a $27.0 million benefit of a litigation settlement and non-recurring charges of $5.7 million. The net favorable impact of these items is $21.3 million.|
|(3)||The tax provisions for the adjustments to net earnings were calculated using an estimated effective tax rate of 36.0% and 37.0% for the periods ended June 30, 2012 and 2011, respectively.|
About Sally Beauty Holdings, Inc.
Sally Beauty Holdings, Inc. (NYSE: SBH) (the "Company") is an international specialty retailer and distributor of professional beauty supplies with annual revenues of $3.3 billion. The Company operates primarily through two business units, Sally Beauty Supply and Beauty Systems Group (BSG), and is the largest distributor of professional beauty supplies in the U.S. based on store count. The Sally Beauty Supply and Beauty Systems Group businesses sell and distribute through over 4,300 stores, including 185 franchised units, throughout the United States and Puerto Rico, the United Kingdom, Belgium, Canada, Chile, Mexico, France, Ireland, Spain, Germany and the Netherlands.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV