Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - HILLMAN COMPANIES INC | exhibit322-certificationof.htm |
| EX-32.1 - EXHIBIT 32.1 - HILLMAN COMPANIES INC | exhibit321-certificationof.htm |
| EX-31.2 - EXHIBIT 31.2 - HILLMAN COMPANIES INC | exhibit312-certificationof.htm |
| EX-31.1 - EXHIBIT 31.1 - HILLMAN COMPANIES INC | exhibit311-certificationof.htm |
| 10-Q - 10-Q - HILLMAN COMPANIES INC | hillman10-q9302017.htm |
Exhibit 99
THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED EBITDA (Unaudited)
(dollars in thousands)
Adjusted EBITDA is not a presentation made in accordance with U.S. generally accepted accounting principles (“GAAP”). It should not be considered an alternative to GAAP-based net income or income from operations or operating cash flows. Further, because not all companies use identical calculations, amounts reflected by us as Adjusted EBITDA may not be comparable to similarly titled measures of other companies. We use this non-GAAP measure internally to make operating decisions and believe it allows more meaningful period-to-period comparisons of our ongoing operating results. The information can also be used to perform trend analysis and to better identify operating trends that may otherwise be masked or distorted by these types of items. The reconciliation of Net Loss to Adjusted EBITDA is presented below.
Thirteen Weeks Ended | Three Months Ended | Thirty-nine Weeks Ended | Nine Months Ended | |||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||
Net income (loss) | $ | (1,322 | ) | $ | (437 | ) | $ | (6,787 | ) | $ | (6,535 | ) | ||
Income tax provision (benefit) | (538 | ) | 479 | (4,759 | ) | (2,471 | ) | |||||||
Interest expense, net | 12,787 | 12,671 | 37,960 | 38,580 | ||||||||||
Interest expense on junior subordinated debentures | 3,152 | 3,152 | 9,456 | 9,456 | ||||||||||
Investment income on trust common securities | (95 | ) | (95 | ) | (284 | ) | (284 | ) | ||||||
Depreciation | 7,300 | 7,974 | 25,473 | 24,394 | ||||||||||
Amortization | 9,500 | 9,481 | 28,442 | 28,435 | ||||||||||
EBITDA | 30,784 | 33,225 | 89,501 | 91,575 | ||||||||||
Stock compensation expense | 472 | 573 | 2,025 | 1,691 | ||||||||||
Management fees | 127 | 148 | 390 | 420 | ||||||||||
Acquisition and integration expense | 53 | — | 53 | — | ||||||||||
Legal fees and settlements | — | 1,886 | 65 | 2,752 | ||||||||||
Restructuring and other costs | 1,628 | 1,499 | 5,898 | 2,107 | ||||||||||
Anti-dumping duties | 4,128 | — | 6,274 | — | ||||||||||
Other adjustments | (318 | ) | (509 | ) | (984 | ) | 150 | |||||||
Adjusted EBITDA | $ | 36,874 | $ | 36,822 | $ | 103,222 | $ | 98,695 | ||||||