closures and consolidations of various manufacturing facilities.
These costs may vary in size based on the Company's acquisition
and restructuring activities, are not directly related to ongoing
or core business results, and do not reflect expected future
operating expenses. These costs are excluded by the Company's
management in assessing current operating performance and
forecasting its earnings trends, and are therefore excluded by the
Company from its non-GAAP measures.
Intangible amortization consists of non-cash charges that can be
impacted by the timing and magnitude of acquisitions. The Company
considers its operating results without these charges when
evaluating its ongoing performance and forecasting its earnings
trends, and therefore excludes such charges when presenting
non-GAAP financial measures. The Company believes that the
assessment of its operations excluding these costs is relevant to
its assessment of internal operations and comparisons to the
performance of its competitors.
Gains or losses on divestiture of operations relate to discrete
and unusual events associated with the sale of a non-core business
of the Company. These gains or losses can vary significantly in
size and do not reflect expected future operating impacts;
therefore, it is useful to investors to highlight the specific
results of these items on the Company's operating results. The
Company's management excludes these items when evaluating its
ongoing performance and forecasting its earnings trends, and
therefore excludes such charges when presenting
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