The following is a summary of the calculation of Adjusted EBITDA for the thirteen and thirty-nine weeks ending October 1, 2011 and September 29, 2012, respectively (in thousands):
|Thirteen Weeks Ended||Thirty-nine Weeks Ended|
|October 1,||September 29,||October 1,||September 29,|
|Provision for income taxes||8,240||5,152||25,919||18,079|
|Depreciation and amortization expense||17,091||15,781||51,515||47,992|
|Amortization of deferred financing costs||847||574||2,632||1,840|
|Non-cash stock compensation expense||-||396||-||1,053|
|Loss on debt extinguishment||-||-||-||13,304|
|Executive recruiting fees and relocation expenses||-||484||-||484|
|Severance to former executives||-||904||-||904|
|One-time IPO expenses||-||-||-||519|
The Company presents Adjusted EBITDA, a non-GAAP measure, to provide investors with a supplemental measure of its operating performance. The Company believes that Adjusted EBITDA is a useful performance measure and is used by the Company to facilitate a comparison of its operating performance on a consistent basis from period-to-period and to provide for a more complete understanding of factors and trends affecting the Company’s business than measures under U.S. generally accepted accounting principles (‘‘GAAP’’) can provide alone. The Company’s board of directors and management also use Adjusted EBITDA as one of the primary methods for planning and forecasting overall expected performance and for evaluating on a quarterly and annual basis actual results against such expectations, and as a performance evaluation metric in determining achievement of certain compensation programs and plans for employees, including its senior executives.
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