This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Smart Balance's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Carole Buyers

Thank you, Kevin and good morning everyone. With me today are Steve Hughes, our Chairman and CEO and Chris Sacco, our CFO and Treasurer. Earlier this morning, we issued our second quarter earnings release. If you have not seen the press release, its available on the investor center page of our website at

The company uses the terms cash operating income and net income and earnings per share, excluding non-cash and certain items as a non-GAAP measure. The company believes that these measures better explain its profitability and performance consistent with the way the investor’s and security analyst evaluate our company in a competitive environment in which we operate.

Cash operating income is defined as operating income excluding stock-based compensation expense, depreciation and amortization and acquisition and integration related costs. In addition the company uses the term adjusted EBITDA, when referring to Udi’s as management believes that this measure better explains the acquired company’s profitability and performance consistent with the way the investor and security analysts evaluate the performance in the competitive environment in which we operate.

Adjusted EBITDA is defined as operating income or net income excluding interest, taxes, depreciation amortization and other non-cash and one-time items. The company believes that the exclusion of both non-cash and certain items provide a better reflection of the operating profitability of the company and strongly complement the company’s planning and forecasting models used in providing investor and security analyst with important supplemental information regarding the company’s underlying profitability and operating performance.

Finally, the company uses the term cash EPS which is defined as GAAP EPS plus incremental

amortization of intangibles and depreciation related to the Udi’s transaction.

However, non-GAAP financial measures to be viewed in addition to and not as an alternative for the company’s results prepared in accordance with GAAP. In addition, the non-GAAP measures the company views may differ from the non-GAAP measures used by other companies. We have included in our press release reconciliations of cash operating income to operating income and of net income and EPS excluding non-cash and certain items to net income and EPS in each case as calculated in accordance with GAAP.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 -1.00%
FB $117.75 0.27%
GOOG $696.25 0.56%
TSLA $226.02 -2.70%
YHOO $35.85 -0.44%


Chart of I:DJI
DOW 17,648.52 -102.39 -0.58%
S&P 500 2,051.10 -12.27 -0.59%
NASDAQ 4,732.0970 -31.1270 -0.65%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs