Fourth Quarter 2012 Financial Highlights:
Total revenues for the fourth quarter of 2012 increased 14.4% to $359.1 million from $314.0 million for the same period in the previous year.
Earnings before interest, taxes, depreciation and amortization, or EBITDA, for the fourth quarter of 2012 were $12.0 million compared to $8.4 million for the same period in the previous year. EBITDA for the fourth quarter of 2011 included impairment of long-lived assets of $3.5 million and acquisition related costs of $229,000, partially offset by a gain on sale of available for sale securities of $3.5 million. EBITDA excluding these and certain other items was $12.1 million and $8.7 million in the fourth quarters of 2012 and 2011, respectively. A reconciliation of income from continuing operations determined in accordance with U.S. generally accepted accounting principles, or GAAP, to EBITDA and EBITDA excluding certain items for the quarters ended December 31, 2012 and 2011 appears later in this press release.