This Day On The Street
Continue to site
ADVERTISEMENT
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

Swisher Announces Results For The Three And Six Months Ended June 30, 2013

Under SEC rules, Swisher is required to provide a reconciliation of non-GAAP measures to the most directly comparable GAAP measures. Accordingly, the following is a reconciliation of Adjusted EBITDA to Swisher's net losses for the three and six months ended June 30, 2013 and 2012:

  Three Months Ended June 30, Six Months Ended June 30,
  2013 2012 2013 2012
  (In thousands)
Net loss from continuing operations $ (14,885) $ (18,029) $ (32,124) $ (31,289)
Income tax expense 341  8  767   87
Depreciation and amortization expense  5,503  5,188 11,152  10,165
Interest expense, net 70  531 157   1,112
Foreign currency loss (gain)  1  43 2  40
Realized and unrealized gain on convertible debt --  (170) --  (199)
Severance  139  805 285  1,230
Stock-based compensation  965  553 1,719  1,944
Impairment loss on assets held for sale  1,638  -- 1,638  --
Investigation and review-related expenses  500  9,511 4,423  11,385
Non-routine professional fees  1,017  -- 1,017  --
Acquisition and merger expenses --  42 --   162
         
Adjusted EBITDA $ (4,711) $ (1,518) $ (10,964) $ (5,363)

Cautionary Statement on Forward-Looking Information

All statements other than statements of historical fact contained in this press release and on the conference call constitute "forward-looking information" or "forward-looking statements" within the meaning of the U.S. federal securities laws and the Securities Act (Ontario) and are based on the expectations, estimates and projections of management as of the date of this press release unless otherwise stated. All statements other than historical facts are, or may be, deemed to be forward looking statements. The words "plans," "expects," "is expected," "scheduled," "estimates," or "believes," or similar words or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," and similar expressions identify forward-looking statements.

6 of 7

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
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,864.61 -63.59 -0.35%
S&P 500 2,083.39 -6.07 -0.29%
NASDAQ 4,926.4620 -12.8650 -0.26%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs