(1) EBITDAS is a non-GAAP financial measure defined by the Company as
net income before income taxes, interest income, depreciation and
amortization, and stock-based compensation. The Company regards
EBITDAS as a useful measure of operating performance and cash flow
to complement operating income, net income and other GAAP financial
performance measures. Additionally, management believes that
EBITDAS provides meaningful comparisons of past, present and future
operating results. Generally, a non-GAAP financial measure is a
numerical measure of a company's performance, financial position or
cash flow that either excludes or includes amounts that are not
normally excluded or included in the most directly comparable
measure calculated and presented in accordance with GAAP. This
measure, however, should be considered in addition to, and not as a
substitute or superior to, operating income, cash flows, or other
measures of financial performance prepared in accordance with GAAP.
A reconciliation of EBITDAS to GAAP is set forth below.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
For the Quarters Ended September 26, 2008 and September 28, 2007
(in thousands, except per share data)
Quarter Ended Nine Months Ended
September September September September
|SOURCE Exponent, Inc.|
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