EBITDA (7) was $55.6 million, or 12.5% of revenues, for the first nine months of 2012, compared to $54.5 million, or 12.3% of revenues, for the same period in 2011.
In evaluating the Company’s financial performance, management uses non-GAAP financial measures including Adjusted EBITDA (7) and Adjusted net income from continuing operations (7) that exclude the effect of the following items (in thousands):
|Nine Months Ended September 30,|
|Amortization of intangible assets||$||5,149||$||6,270|
|Restatement related expenses||$||1,785||$||3,870|
|Goodwill impairment charge||$||13,083||$||21,973|
Adjusted EBITDA (7) was $74.8 million, or 16.8% of revenues, in the first nine months of 2012 compared to $82.8 million, or 18.7% of revenues, in the comparable period last year. Adjusted net income from continuing operations (7) was $32.0 million, or $1.44 per diluted share, for the first nine months of 2012 compared to $34.4 million, or $1.60 per diluted share, for the comparable period in 2011.
Reconciliations of the aforementioned non-GAAP financial measures to comparable GAAP measures are provided in the financial schedules accompanying this news release.
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