As of June 30, 2014, the company's cash equivalents were predominantly invested in U.S. Treasury money market funds and the company had no commercial debt.
Non-GAAP Financial MeasuresIn addition to the United States generally accepted accounting principles, or GAAP, results provided throughout this document, PDI has provided a certain non-GAAP financial measure to help evaluate the results of its performance. The company believes that this non-GAAP financial measure, when presented in conjunction with comparable GAAP financial measure, is useful to both management and investors in analyzing the company's ongoing business and operating performance. The company believes that providing non-GAAP information to investors, in addition to the GAAP presentation, allows investors to view the company's financial results in the way that management views financial results.
In this document, the company discusses Adjusted EBITDA, a non-GAAP financial measure. Adjusted EBITDA is a metric used by management to measure cash flow of the ongoing business. Adjusted EBITDA is defined as operating income or loss, plus depreciation and amortization, non-cash stock-based compensation, and other non-cash expenses. The table below includes a reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure.
Adjusted EBITDA (Unaudited)($ in thousands)2nd Quarter EndedSix Months EndedJune 30,June 30,2014201320142013Operating (loss) income
|SOURCE PDI, Inc.|
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