PRO FORMA ADJUSTED
EARNINGS BEFORE INTEREST, TAXES,
DEPRECIATION & AMORTIZATION NON-GAAP
(PRO FORMA ADJUSTED EBITDA) MEASURE
Net Loss (GAAP Measure) $(656)
Benefit from Income Taxes (438)
Interest Expense 14,959
Interest Income (25)
Depreciation & Amortization 8,971(g)
Non-GAAP Measure Adjustments 1,299(h)
Pro Forma Adjusted EBITDA
(Non-GAAP Measure) $24,110
(a) Reflects deconsolidation of 750 Park Place and increased rent expense
paid to 750 Park Place, which is an affiliate that was not acquired in
(b) Reflects 1) excess salaries paid over senior management's pro forma
contractual levels; 2) a non-recurring $11 million one-time employee
bonus payment related to Chem Rx Corporation's acquisition of B.J.K.
Inc.; and 3) an estimated increased $5.9 million of additional
amortization expense for 10 months related to intangible assets
created by Chem Rx Corporation's acquisition of B.J.K. Inc.
(c) Reflects exclusion of interest income unrelated to B.J.K. Inc. prior
to the acquisition.
(d) Reflects estimated pro forma interest expense resulting from our new
capital structure after the close of the acquisition, using an assumed
3-month LIBOR rate of 5.00% and inclusive of deferred financing cost
(e) Reflects exclusion of the minority interest related to 750 Park Place.
750 Park Place is an affiliate
|SOURCE Chem Rx Corporation|
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