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Pregis Announces Second Quarter 2009 Financial Results
Date:8/13/2009

(gains), net 13,475 (4,245) Non-cash stock based compensation expense 1,261 809 Non-cash asset impairment charge 20,101 403 Other non-cash expenses, primarily fixed asset disposals and write-offs - 1,117 Net unusual or nonrecurring gains or losses: Restructuring, severance and related expenses 15,971 - Nonrecurring charges related to acquisitions and dispositions - 4,853 Other, principally executive management severance and recruiting expenses 676 7,125 Other adjustments: Amounts paid pursuant to management agreement with Sponsor 1,892 2,002 Pro forma earnings and costs savings - 1,113 --- ----- Adjusted EBITDA ("Consolidated Cash Flow") $91,391 $104,000 ------- -------- Note to above: EBITDA is defined as net income before interest expense, interest income, income tax expense, depreciation and amortization. Adjusted EBITDA, referred to as Consolidated Cash Flow within the context of the Company's indentures, is presented herein because it is a material element of the fixed charge coverage ratio and secured indebtedness leverage ratio included in the Company's indentures and is a significant operating measure used by the Company to measure its operating performance and liquidity. Pregis Holding II Corporation Second Quarter 2009 Supplemental Information (Unaudited) (Am
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