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  • fankenkoenig fankenkoenig Nov 3, 2013 4:32 PM Flag

    Positive Surprise on Thursday will be after my opinion: Not only positive EBITDA, a GAAP-income, too

    EBITDA has near double from $685,000 in Q1/2013 to 1.2 million in Q2/2013

    Adjusted EBITDA – The company reported positive Adjusted EBITDA for the second quarter 2013 of $1.2 million, or $0.05 per diluted share, as compared to first quarter 2013 positive Adjusted EBITDA of $685,000, or $0.03 per diluted share.

    Adjusted EBITDA is defined as net income (loss) excluding: provision for income taxes; interest and other income (expense), net; depreciation; amortization; stock-based compensation charges; gain or loss on derivatives’ revaluation; net income (loss) from discontinued operations; impairment charges; LEC receivables reserve; finance-related charges; accrued lease liability/asset; and severance charges.

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    • Second important reason for the divergence between EBITDA und GAAP net loss is the position „non-cash depreciation, amortization and stock compensation“ with1,691,000. This amount will be lower, because only depreciation and stock compensation exist - not amortization in Q3.

    • Most reasons for divergence between a poslitive EBITDA and a GAAP-loss like in following from Q2/2013 disappeared in Q3/2013 and will disappear in Q4/2013 and the following quarters.

      From the report about Q2/2013:
      Adjusted EBITDA* 1,175,000
      Plus interest and other income (expense), net (420 ,000)
      Less (provision) benefit for income taxes (159,000)
      Less non-cash depreciation, amortization and stock compensation (1,691,000)
      Plus revaluation of derivatives 638,000
      Less net loss from discontinued operations (3,264,000)
      Less finance related charges -
      Plus accrual for lease (liability)/asset 155,000
      Less severance charges (20,000)
      GAAP net loss (3,586,000)

 
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