Allegiant Travel CO - FORM 8-K - EX-99.1 - EXHIBIT 99.1

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8-K - FORM 8-K - Allegiant Travel CO	atc_8k-012813.htm

Exhibit 99.1

ALLEGIANT TRAVEL COMPANY FOURTH QUARTER AND FULL YEAR 2012

FINANCIAL RESULTS

40th Consecutive Profitable Quarter

Fourth Quarter Fully Diluted Earnings per Share of $.76

Full Year Fully Diluted Earnings per Share of $4.06

LAS VEGAS. January 30, 2013 —Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for both the fourth quarter and full year 2012, as well as comparisons to prior year equivalents:

Unaudited	4Q12		4Q11		Change			2012		2011		Change
Total operating revenue (millions)	$222.8		$193.9			14.9	%	$908.7		$779.1			16.6	%
Operating income (millions)	$25.4		$20.2			25.8	%	$132.3		$85.4			54.8	%
Operating margin	11.4	%	10.4	%	1.0pp			14.6	%	11.0	%	3.6pp
EBITDA (millions)	$42.2		$31.3			34.7	%	$190.1		$127.4			49.2	%
EBITDA margin	18.9	%	16.2	%	2.7pp			20.9	%	16.4	%	4.5pp
Net income (millions)	$14.8		$10.8			36.6	%	$78.6		$49.4			59.1	%
Diluted earnings per share	$0.76		$0.56			35.7	%	$4.06		$2.57			58.0	%

“We are very proud to report our 40th consecutive profitable quarter,” stated Maurice J. Gallagher, Jr., Chairman and CEO of Allegiant Travel Company. “40 consecutive profitable quarters is an outstanding achievement in this industry and we could not do it without the great efforts and contributions of our Team Members. In 2012, we recorded the highest system fuel cost per gallon we have ever paid for a full year. In spite of that, we were able to grow full year earnings per share over 58 percent to the highest ever.”

Notable company quarterly highlights

Signed purchase agreements to acquire nine Airbus A320 aircraft previously operated by Iberia

Successfully converted 100 percent of our customer web traffic to our new booking engine in November

Returned over $38 million to shareholders through a special dividend of $2 per share in December

Repurchased approximately 55,000 shares for $4 million during the fourth quarter

As of January 30, 2013, we have converted 47 of an expected 51 MD-80s to 166 seat aircraft

Began operating 21 new routes during the quarter

Announced eight new routes starting in the first quarter

Ranked 14th on the Forbes’ 100 Best Small Companies. We have been listed four years in a row

Allegiant Q4 & FY 2012 Earnings

Page # 2

Revenue performance

Fourth quarter 2012 total average fare was up 4.4 percent versus 2011 and was the highest in the company’s history

12th consecutive quarter of year over year increases in total average fare

Ancillary air-related revenue per passenger has grown sequentially every month since April 2012

	4Q12		4Q11		Change			2012		2011		Change
Scheduled Service:
Average fare - scheduled service	$88.59		$91.66			(3.3	)%	$88.90		$89.15			(0.3	)%
Average fare - ancillary air-related charges	$39.89		$31.51			26.6	%	$35.72		$31.17			14.6	%
Average fare - ancillary third party products	$5.19		$4.88			6.4	%	$5.48		$5.18			5.8	%
Average fare - total	$133.67		$128.05			4.4	%	$130.10		$125.51			3.7	%
Scheduled service passenger revenue per ASM (PRASM) (cents)	7.99		8.91			(10.3	)%	8.43		8.88			(5.1	)%
Total scheduled service revenue* per ASM (TRASM) (cents)	12.06		12.45			(3.1	)%	12.33		12.50			(1.4	)%
Load factor	86.5	%	89.6	%	(3.1)pp			89.4	%	91.7	%	(2.3)pp
Passengers (millions)	1.6		1.4			13.3	%	6.6		5.8			14.1	%
Average passengers per departure	141		134			5.2	%	140		136			2.9	%
Average scheduled service stage length (miles)	930		904			2.9	%	918		901			1.9	%

* Total scheduled service revenue includes scheduled service, ancillary air-related, and ancillary third party revenue.

Cost performance

Full year 2012 cost per ASM excluding fuel decreased 6.7 percent to 5.3 cents in spite of a five percent decrease in aircraft utilization for the same time period

Full year 2012 ASMs per gallon increased 6.6 percent to 63.0 versus last year, and improved sequentially 3.6 percent in the fourth quarter 2012 versus the third quarter 2012

Full year 2012 salaries and benefits expense per passenger decreased 1.7 percent despite a 14.2 percent increase in full time equivalent employees

Full year 2012 maintenance and repairs expense per passenger decreased 19.6 percent due primarily to a 60 percent decline in engine overhaul expenses. Maintenance expense per aircraft per month was $102,277 in 2012 versus $129,558 in 2011

Full year 2012 sales and marketing expense per passenger decreased 14.6 percent versus last year, primarily due to the implementation of a discount for customers paying with less expensive forms of payment beginning in the third quarter 2012

	4Q12	4Q11	Change			2012	2011	Change
Total System*:
Operating expense per passenger	$118.49	$116.08		2.1	%	$111.12	$112.32		(1.1	)%
Operating expense per passenger, excluding fuel	$63.50	$62.04		2.4	%	$56.99	$58.78		(3.0	)%
Operating expense per ASM (CASM) (cents)	10.50	11.03		(4.8	)%	10.37	10.90		(4.9	)%
Operating expense, excluding fuel per ASM (CASM ex fuel) (cents)	5.63	5.89		(4.4	)%	5.32	5.70		(6.7	)%
Average block hours per aircraft per day	5.3	5.6		(5.4	)%	5.7	6.0		(5.0	)%

* Total system includes scheduled service, fixed-fee contract and non-revenue flying.

Allegiant Q4 & FY 2012 Earnings

Page # 3

Third party products performance

For the fourth quarter 2012, ancillary revenue – third party products per passenger increased 6.4 percent versus last year. This has been our eleventh consecutive quarter of year over year increases.

For the full year 2012, net revenue from hotels increased about five percent while net revenue from rental cars increased about 33 percent versus 2011

Supplemental Ancillary Revenue Information Unaudited (millions)	4Q12		4Q11		Change			2012		2011		Change
Gross ancillary revenue - third party products	$24.9		$23.0			8.6	%	$119.0		$106.4			11.9	%
Cost of goods sold	($16.2	)	($15.2	)		6.1	%	($79.0	)	($72.0	)		9.7	%
Transaction costs*	($.6	)	($.9	)		(35.9	)%	($3.9	)	($4.5	)		(12.1	)%
Ancillary revenue - third party products	$8.2		$6.8			20.5	%	$36.1		$29.9			20.8	%
As percent of gross	32.8	%	29.6	%	3.2pp			30.3	%	28.1	%	2.2pp
As percent of income before taxes	34.9	%	36.9	%	(2.0)pp			29.0	%	37.6	%	(8.6)pp
Ancillary revenue - third party products/scheduled passenger	$5.19		$4.88			6.4	%	$5.48		$5.18			5.8	%
Hotel room nights (thousands)	137.5		142.6			(3.5	)%	690.1		647.7			6.5	%
Rental car days (thousands)	169.1		113.8			48.6	%	763.4		577.7			32.1	%

* Includes payment expenses and travel agency commissions.

Balance sheet highlights

We currently have $41 million in share repurchase authority

Unaudited (millions)	12/31/12		12/31/11		Change
Unrestricted cash*		$352.7		$319.5		10.4	%
Total debt		$150.9		$146.1		3.3	%
Total Allegiant Travel Company stockholders’ equity		$400.5		$351.5		14.0	%

Year ended December 31,
Unaudited (millions)		2012		2011	Change
Capital expenditures		$105.1		$86.6		21.4	%

* Unrestricted cash includes investments in marketable securities.

Allegiant Q4 & FY 2012 Earnings

Page # 4

At this time, Allegiant Travel Company provides the following guidance to investors, subject to revision.

Guidance, subject to revision

Revenue guidance	January 2013			1Q13
Estimated PRASM year-over-year change	(13) to (11)%		(8) to (6)%

Fixed fee and other revenue guidance				1Q13
Fixed fee and other revenue (millions)				$4 to $6

Capacity guidance
System		1Q13		2Q13
Departure year-over-year growth	(8) to (4)%		(7) to (3)%
ASM year-over-year growth	+12 to 16%		+14 to 18%
Scheduled
Departure year-over-year growth	(2) to 2%		0 to 4%
ASM year-over-year growth	+15 to 19%		+19 to 23%

Cost guidance				1Q13
CASM ex fuel – year-over-year change			+1 to 3%

CAPEX guidance			FY13
Capital expenditures (millions)				$150 to $160

CASM ex fuel – cost per available seat mile excluding fuel expense

* Number of aircraft expected to be completed by end of the quarter

2013 aircraft fleet plan by end of quarter
Aircraft	1Q13	2Q13	3Q13	4Q13
MD-80 (166*)	51	51	51	51
MD-80 (non 166*)	6	5	1	1
757	6	6	6	6
A319	0	2	2	2
A320	0	0	2	7
Total	63	64	62	67

* 166 refers to MD-80s that are expected to be converted to 166 seat aircraft, non 166 refers to those aircraft that will not be converted

Aircraft listed in table above are considered in service aircraft

Allegiant Travel Company will host a conference call with analysts at 4:30 p.m. EST today, January 30, 2013 to discuss its fourth quarter and full year 2012 financial results. A live broadcast of the conference call will be available via the Company’s Investor Relations website homepage at http://ir.allegiant.com. The webcast will also be archived in the “Events & Presentations” section of the website.

Allegiant Q4 & FY 2012 Earnings

Page # 5

Allegiant, Travel is our deal.®

Las Vegas-based Allegiant Travel Company® (NASDAQ: ALGT) is focused on linking travelers in small cities to world-class leisure destinations. Through its subsidiary, Allegiant Air, the company operates a low-cost, high-efficiency, all-jet passenger airline, and offers other travel-related products such as hotel rooms, rental cars, and attraction tickets through its website, allegiant.com. The company has been named one of America’s 100 Best Small Companies by Forbes Magazine for four consecutive years. ALGT/G

Media Inquiries: Brian Davis

mediarelations@allegiantair.com

Investor Inquiries: Chris Allen

ir@allegiantair.com

Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, statements in this press release that are not historical facts are forward-looking statements. These forward-looking statements are only estimates or predictions based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include our statements regarding future unit revenue, future operating expense, ASM growth, departure growth, fixed-fee and other revenues, expected capital expenditures, number of aircraft to be modified and number of contracted aircraft to be placed in service by quarter, as well as other information concerning future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believe," "expect," “guidance,” "anticipate," "intend," "plan," "estimate", “project”, “hope” or similar expressions.

Forward-looking statements involve risks, uncertainties and assumptions. Actual results may differ materially from those expressed in the forward-looking statements. Important risk factors that could cause our results to differ materially from those expressed in the forward-looking statements generally may be found in our periodic reports filed with the Securities and Exchange Commission at www.sec.gov. These risk factors include, without limitation, volatility of fuel costs, labor issues, the effect of the economic downturn on leisure travel, debt covenants, terrorist attacks, risks inherent to airlines, our planned introduction of an additional aircraft type, demand for air services to our leisure destinations from the markets served by us, our dependence on our leisure destination markets, our competitive environment, problems with our aircraft, our reliance on our automated systems, economic and other conditions in markets in which we operate, aging aircraft and other governmental regulation, increases in maintenance costs and cyclical and seasonal fluctuations in our operating results.

Any forward-looking statements are based on information available to us today and we undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.

Detailed financial information follows:

Allegiant Travel Company

Consolidated Statements of Income

Three Months Ended December 31, 2012 and 2011

(in thousands, except per share amounts)

(Unaudited)

	Three months ended Dec. 31,						Percent
	2012			2011			change
OPERATING REVENUE:
Scheduled service revenue		$139,668			$127,597			9.5
Ancillary revenue:
Air-related charges		62,899			43,866			43.4
Third party products		8,184			6,794			20.5
Total ancillary revenue		71,083			50,660			40.3

Fixed fee contract revenue		11,375			12,522			(9.2	)
Other revenue		712			3,158			(77.5	)
Total operating revenue		222,838			193,937			14.9

OPERATING EXPENSES:
Aircraft fuel		91,638			80,898			13.3
Salary and benefits		33,933			29,590			14.7
Station operations		20,655			16,529			25.0
Maintenance and repairs		19,029			23,806			(20.1	)
Sales and marketing		4,081			4,329			(5.7	)
Aircraft lease rentals		-			153			(100.0	)
Depreciation and amortization		16,667			11,253			48.1
Other		11,458			7,205			59.0
Total operating expenses		197,461			173,763			13.6

OPERATING INCOME		25,377			20,174			25.8
As a percent of total operating revenue		11.4	%		10.4	%
OTHER (INCOME) EXPENSE:
(Earnings) loss from unconsolidated affiliates, net		(43	)		83			(151.8	)
Interest income		(242	)		(236	)		2.5
Interest expense		2,210			1,889			17.0
Total other (income) expense		1,925			1,736			10.8

INCOME BEFORE INCOME TAXES		23,452			18,438			27.2
As a percent of total operating revenue		10.5	%		9.5	%

PROVISION FOR INCOME TAXES		8,810			7,628			15.5

NET INCOME		$14,642			$10,810			35.4
Net loss attributable to noncontrolling interest		(124	)		-			(100	)
NET INCOME ATTRIBUTABLE TO ALLEGIANT TRAVEL COMPANY		$14,766			$10,810			36.6

Earnings per share to common stockholders (1):
Basic		$0.78			$0.57			38.6
Diluted		$0.76			$0.56			35.7

Weighted average shares outstanding used in computing earnings per share to common stockholders (1):
Basic		19,154			18,959			1.0
Diluted		19,371			19,207			0.9

(1) The Company's unvested restricted stock awards are considered participating securities as they receive non-forfeitable rights to cash dividends at the same rate as common stock. The Basic and Diluted earnings per share for the periods presented reflect the two-class method mandated by accounting guidance for the calculation of earnings per share. The two-class method adjusts both the net income and shares used in the calculation. Application of the two-class method did not have a significant impact on the Basic and Diluted earnings per share for the periods presented.

Page # 6

Allegiant Travel Company

Operating Statistics

Three Months Ended December 31, 2012 and 2011

(Unaudited)

	Three months ended Dec. 31,						Percent
	2012			2011			change*
OPERATING STATISTICS
Total system statistics
Passengers		1,666,501			1,496,923			11.3
Revenue passenger miles (RPMs) (thousands)		1,578,841			1,363,855			15.8
Available seat miles (ASMs) (thousands)		1,879,791			1,575,899			19.3
Load factor		84.0	%		86.5	%		(2.5	)
Operating revenue per ASM (RASM) (cents)		11.85			12.31			(3.7	)
Operating expense per ASM (CASM) (cents)		10.50			11.03			(4.8	)
Fuel expense per ASM (cents)		4.87			5.13			(5.1	)
Operating CASM, excluding fuel (cents)		5.63			5.89			(4.4	)
Operating expense per passenger		$118.49			$116.08			2.1
Fuel expense per passenger		$54.99			$54.04			1.8
Operating expense per passenger, excluding fuel		$63.50			$62.04			2.4
ASMs per gallon of fuel		65.6			60.1			9.2
Departures		12,802			12,166			5.2
Block hours		30,223			27,998			7.9
Average stage length (miles)		882			853			3.4
Average number of operating aircraft during period		62.1			54.6			13.7
Average block hours per aircraft per day		5.3			5.6			(5.4	)
Full-time equivalent employees at period end		1,821			1,595			14.2
Fuel gallons consumed (thousands)		28,668			26,230			9.3
Average fuel cost per gallon		$3.20			$3.08			3.9

Scheduled service statistics
Passengers		1,576,641			1,392,092			13.3
Revenue passenger miles (RPMs) (thousands)		1,512,063			1,283,218			17.8
Available seat miles (ASMs) (thousands)		1,747,920			1,431,430			22.1
Load factor		86.5	%		89.6	%		(3.1	)
Departures		11,192			10,360			8.0
Average passengers per departure		141			134			5.2
Scheduled service seats per departure		165.4			152.2			8.7
Block hours		27,527			24,961			10.3
Yield (cents)		9.24			9.94			(7.0	)
Scheduled service revenue per ASM (PRASM) (cents)		7.99			8.91			(10.3	)
Total ancillary revenue per ASM (cents)		4.07			3.54			15.0
Total scheduled service revenue per ASM (TRASM) (cents)		12.06			12.45			(3.1	)
Average fare - scheduled service		$88.59			$91.66			(3.3	)
Average fare - ancillary air-related charges		$39.89			$31.51			26.6
Average fare - ancillary third party products		$5.19			$4.88			6.4
Average fare - total		$133.67			$128.05			4.4
Average stage length (miles)		930			904			2.9
Fuel gallons consumed (thousands)		26,368			23,517			12.1
Average fuel cost per gallon		$3.37			$3.29			2.4
Percent of sales through website during period		91.7	%		89.1	%		2.6

* Except load factor and percent of sales through website, which is percentage point change.

Page # 7

Allegiant Travel Company

Consolidated Statements of Income

Years Ended December 31, 2012 and 2011

(in thousands, except per share amounts)

(Unaudited)

	Years ended Dec. 31,						Percent
	2012			2011			change
OPERATING REVENUE:
Scheduled service revenue		$586,036			$514,984			13.8
Ancillary revenue:
Air-related charges		235,436			180,078			30.7
Third party products		36,124			29,916			20.8
Total ancillary revenue		271,560			209,994			29.3

Fixed fee contract revenue		42,905			43,690			(1.8	)
Other revenue		8,218			10,449			(21.4	)
Total operating revenue		908,719			779,117			16.6

OPERATING EXPENSES:
Aircraft fuel		378,195			330,657			14.4
Salary and benefits		133,295			119,856			11.2
Station operations		78,357			66,709			17.5
Maintenance and repairs		73,897			81,228			(9.0	)
Sales and marketing		19,222			19,905			(3.4	)
Aircraft lease rentals		-			1,101			(100.0	)
Depreciation and amortization		57,503			41,975			37.0
Other		35,946			32,242			11.5
Total operating expenses		776,415			693,673			11.9

OPERATING INCOME		132,304			85,444			54.8
As a percent of total operating revenue		14.6	%		11.0	%
OTHER (INCOME) EXPENSE:
(Earnings) loss from unconsolidated affiliates, net		(99	)		(9	)	NM
Interest income		(983	)		(1,236	)		(20.5	)
Interest expense		8,739			7,175			21.8
Total other (income) expense		7,657			5,930			29.1

INCOME BEFORE INCOME TAXES		124,647			79,514			56.8
As a percent of total operating revenue		13.7	%		10.2	%

PROVISION FOR INCOME TAXES		46,233			30,116			53.5

NET INCOME		$78,414			49,398			58.7
Net loss attributable to noncontrolling interest		(183	)		-		NM
NET INCOME ATTRIBUTABLE TO ALLEGIANT TRAVEL COMPANY		78,597			$49,398			59.1

Earnings per share to common stockholders (1):
Basic		$4.10			$2.59			58.3
Diluted		$4.06			$2.57			58.0

Weighted average shares outstanding used in computing earnings per share to common stockholders (1):
Basic		19,079			18,935			0.8
Diluted		19,276			19,125			0.8

Page # 8

Allegiant Travel Company

Operating Statistics

Years Ended December 31, 2012 and 2011

(Unaudited)

	Years ended Dec. 31,						Percent
	2012			2011			change*
OPERATING STATISTICS
Total system statistics
Passengers		6,987,324			6,175,808			13.1
Revenue passenger miles (RPMs) (thousands)		6,514,056			5,640,577			15.5
Available seat miles (ASMs) (thousands)		7,487,276			6,364,243			17.6
Load factor		87.0	%		88.6	%		(1.6	)
Operating revenue per ASM (RASM) (cents)		12.14			12.24			(0.8	)
Operating expense per ASM (CASM) (cents)		10.37			10.90			(4.9	)
Fuel expense per ASM (cents)		5.05			5.20			(2.9	)
Operating CASM, excluding fuel (cents)		5.32			5.70			(6.7	)
Operating expense per passenger		$111.12			$112.32			(1.1	)
Fuel expense per passenger		$54.13			$53.54			1.1
Operating expense per passenger, excluding fuel		$56.99			$58.78			(3.0	)
ASMs per gallon of fuel		63.0			59.1			6.6
Departures		53,615			49,360			8.6
Block hours		124,610			113,691			9.6
Average stage length (miles)		872			858			1.6
Average number of operating aircraft during period		60.2			52.2			15.3
Average block hours per aircraft per day		5.7			6.0			(5.0	)
Fuel gallons consumed (thousands)		118,839			107,616			10.4
Average fuel cost per gallon		$3.18			$3.07			3.6

Scheduled service statistics
Passengers		6,591,707			5,776,462			14.1
Revenue passenger miles (RPMs) (thousands)		6,220,320			5,314,976			17.0
Available seat miles (ASMs) (thousands)		6,954,408			5,797,753			20.0
Load factor		89.4	%		91.7	%		(2.3	)
Departures		46,995			42,586			10.4
Average passengers per departure		140			136			2.9
Scheduled service seats per departure		159.7			150.8			5.9
Block hours		113,671			101,980			11.5
Yield (cents)		9.42			9.69			(2.8	)
Scheduled service revenue per ASM (PRASM) (cents)		8.43			8.88			(5.1	)
Total ancillary revenue per ASM (cents)		3.90			3.62			7.7
Total scheduled service revenue per ASM (TRASM) (cents)		12.33			12.50			(1.4	)
Average fare - scheduled service		$88.90			$89.15			(0.3	)
Average fare - ancillary air-related charges		$35.72			$31.18			14.6
Average fare - ancillary third party products		$5.48			$5.18			5.8
Average fare - total		$130.10			$125.51			3.7
Average stage length (miles)		918			901			1.9
Fuel gallons consumed (thousands)		109,257			96,999			12.6
Average fuel cost per gallon		$3.37			$3.30			2.1
Percent of sales through website during period		90.1	%		88.8	%		1.3

* Except load factor and percent of sales through website, which is percentage point change.

Page # 9

Allegiant Travel Company

Non-GAAP Presentations

Three Months and Years Ended December 31, 2012 and 2011

(Unaudited)

"EBITDA" represents earnings before interest expense, income taxes, depreciation and amortization. EBITDA is not a calculation based on generally accepted accounting principles and should not be considered as an alternative to net income or operating income as indicators of our financial performance or to cash flow as a measure of liquidity. EBITDA is included as a supplemental disclosure because we believe it is a useful indicator of our operating performance. Further, EBITDA is a well-recognized performance measurement that is frequently used by securities analysts, investors and other interested parties in comparing the operating performance of companies. We believe EBITDA is useful in evaluating our operating performance compared to our competitors because its calculation generally eliminates the effects of financing and income taxes and the accounting effects of capital spending and acquisitions, which items may vary between periods and for different companies for reasons unrelated to overall operating performance. The following represents the reconciliation of EBITDA to net income for the periods indicated below.

The SEC has adopted rules (Regulation G) regulating the use of non-GAAP financial measures. Because of our use of the non-GAAP financial measure EBITDA to supplement our consolidated financial statements presented on a GAAP basis, Regulation G requires us to include in this press release a presentation of the most directly comparable GAAP measure, which is net income, and a reconciliation of the non-GAAP measure to the most comparable GAAP measure. Our utilization of a non-GAAP measurement is not meant to be considered in isolation or as a substitute for net income or other measures of financial performance prepared in accordance with GAAP. EBITDA is not a GAAP measurement and our use of it may not be comparable to similarly titled measures employed by other companies in the airline and travel industry. The reconciliations to GAAP net income follow.

	Three months ended Dec. 31,						Percent
(in thousands)	2012			2011			change
Net income attributable to Allegiant Travel Company		$14,766			$10,810			36.6
Plus (minus)
Interest income		(242	)		(236	)		2.5
Interest expense		2,210			1,889			17.0
Provision for income taxes		8,810			7,628			15.5
Depreciation and amortization		16,667			11,253			48.1
EBITDA		$42,211			$31,344			34.7

Total revenue		$222,838			$193,937			14.9
EBITDA margin		18.9	%		16.2	%

	Years ended Dec. 31,						Percent
(in thousands)	2012			2011			change
Net income attributable to Allegiant Travel Company		$78,597			$49,398			59.1
Plus (minus)
Interest income		(983	)		(1,236	)		(20.5	)
Interest expense		8,739			7,175			21.8
Provision for income taxes		46,233			30,116			53.5
Depreciation and amortization		57,503			41,975			37.0
EBITDA		$190,089			$127,428			49.2

Total revenue		$908,719			$779,117			16.6
EBITDA margin		20.9	%		16.4	%

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