Earnings before Interest, Taxes and Depreciation and Amortization (“EBITDA”) represents net income (loss) before (i) interest (income) expense, (ii) other (income) expense, (iii) provision (benefit) for income taxes and (iv) depreciation and amortization expense. EBITDA is a non-GAAP financial measure as defines under the rules of the SEC, and is intended as a supplemental measure of our performance. We believe this measure is commonly used by analysts and investors to analyze and compare companies on the basis of operation performance that have different financing and capital structures and tax rates. EBITDA is not a substitute for GAAP measures of net income, operations income or any other performance measure derived in accordance with GAAP or as an alternative to cash flows from operating activities or other liquidity measures derived in accordance with GAAP.