Diluted weighted average common shares outstanding in the second quarter of fiscal 2013 were 16.0 million compared to 13.2 million in the prior-year period.
Conference Call and Webcast
The Company will host a conference call to discuss second quarter 2013 financial results today at 11:00 AM ET. The conference call can be accessed live over the phone by dialing 855-235-2089 or, for international callers, 778-327-3988. A replay will be available one hour after the call and can be accessed by dialing 877-870-5176, or for international callers, 858-384-5517; the conference ID is #91212. The replay will be available through December 19, 2012. The call will be webcast live from the Company's website at www.NevadaGold.com under the Investor Relations section.
(1) Non-GAAP InformationThe term "adjusted EBITDA" is used by us in presentations, quarterly earnings calls, and other instances as appropriate. Adjusted EBITDA is defined as net income before interest, income taxes, depreciation and amortization, non-cash goodwill and other long-lived asset impairment charges, write-offs of project development costs, litigation charges, non-cash foreign currency transaction gains and losses, non-cash stock option grants, exclusion of net income or loss from operations held for sale, severance costs, and net losses/gains from asset dispositions. Adjusted EBITDA does not take into account greater or less than expected hold percentages in the gaming operations. Adjusted EBITDA is presented because it is a required component of financial ratios reported by us to our lenders, and it is also frequently used by securities analysts, investors, and other interested parties, in addition to and not in lieu of, U.S. Generally Accepted Accounting Principles ("GAAP") results to compare to the performance of other companies that also publicize this information. Adjusted EBITDA is not a measurement of financial performance under GAAP and should not be considered as an alternative to net income as an indicator of our operating performance or any other measure of performance derived in accordance with GAAP.