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Pregis Announces Fourth Quarter and Full Year 2008 Financial Results
Date:3/26/2009

ents, beginning of year 34,989 45,667 ------ ------ Cash and cash equivalents, end of year $41,179 $34,989 ------- ------- Pregis Holding II Corporation Supplemental Information (Unaudited) Calculation of Adjusted EBITDA ("Consolidated Cash Flow") --------------------------------------------------------- Year Ended December 31, ----------------------- (unaudited) 2008 2007 (dollars in thousands) ---- ---- Net loss of Pregis Holding II Corporation $(47,730) $(4,779) Interest expense, net of interest income 48,194 45,405 Income tax expense (benefit) (1,865) 7,708 Depreciation and amortization 52,344 55,799 ------ ------ EBITDA 50,943 104,133 Other non-cash charges (income): Unrealized foreign currency transaction losses (gains), net 14,736 (2,692) Non-cash stock based compensation expense 951 558 Non-cash asset impairment charge 20,354 403 Other non-cash expenses, primarily fixed asset disposals and write-offs 427 - Net unusual or nonrecurring gains or losses: Restructuring, severence and related expenses 11,418 4,325 Curtailment gain
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