Multimedia Games Reports Third Quarter Revenue of $50.3 Million

Reconciliation of U.S. GAAP to Non-GAAP measures:

This press release and accompanying schedules provide certain information regarding (i) EBITDA and (ii) adjusted diluted earnings per share, both of which may be considered non-GAAP financial measures under the rules of the Securities and Exchange Commission. The non-GAAP financial measures included in the press release are reconciled to the corresponding GAAP financial measures below, as required under the rules of the Securities and Exchange Commission regarding the use of non-GAAP financial measures. We define (i) EBITDA as net income before net interest expense, income taxes, depreciation, amortization and accretion of contract rights and (ii) adjusted diluted earnings per share reflects an add-back for the non-recurring severance related charges. EBITDA and adjusted diluted earnings per share are not recognized financial measures under GAAP, but we believe that each is useful in measuring our operating performance. We believe that the use of the non-GAAP financial measure EBITDA enhances an overall understanding of the Company’s past financial performance, and provides useful information to the investor by comparing our performance across reporting periods on a consistent basis and the use of EBITDA by other companies in the gaming equipment sector as a measure of performance. We present adjusted diluted earnings per share in order to allow investors to evaluate how we would have performed had the severance related charges not been incurred during the three month period ended June 30, 2014.

Investors should not consider these measures in isolation or as a substitute for net income, operating income, or any other measure for determining the Company’s operating performance that is calculated in accordance with GAAP. In addition, because these measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies.

 
     

For the Three Months Ended
June 30,

2014     2013
(in thousands)
Net income $ 7,632 $ 8,449
Add back:
Amortization and depreciation 11,058 8,900
Accretion of contract rights (1) 2,320 2,080
Interest expense, net 140 192
Income tax expense   4,762   5,334
EBITDA (2) $ 25,912 $ 24,955
 
1)   “Accretion of contract rights” relates to the amortization of intangible assets for development projects. These amounts are recorded net of revenues in the Consolidated Statements of Operations.
2) EBITDA includes third-quarter severance related charges totaling $0.6 million.
 
 

Adjusted Diluted Earnings Per Share

 
      For the Three Months Ended
June 30,
EPS Reconciliation: 2014  

 

2013
As reported $ 0.25 $ 0.28
Add-back of severance related charges   0.01   -
Adjusted Diluted EPS $ 0.26 $ 0.28
 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »
Featured Video
Jobs
Advanced Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Mechanical Engineering Technical Leader for Cisco Systems Inc at San Jose, California
Mechanical Engineer for PTEC Solutions at Fremont, California
Senior Software Engineer (GIS) for SeeScan, Inc. at San Diego, California
Upcoming Events
Building Innovation 2024 at Capitol Hilton washington D.C. MD - May 22 - 24, 2024
23rd California Green Building Conference 2024 at The Beehive, a SoLa Impact Company in South Los Angeles CA - May 23, 2024
Digital Construction Week UK 2024 at ExCeL London london United Kingdom - Jun 5 - 6, 2024
AIA Conference 2024 at Walter E. Washington Convention Center Washington, D.C. MD - Jun 5 - 8, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise