Other expenses for personnel services, maintenance and other operating expenses, financial expenses, and noncash expenses
during the January to June period also inched up year-on-year.
The company adjusted the Trade Group's results for several one-time, largely noncash expenses
totaling $8.2 million, or $0.19 per diluted share, and for noncash stock compensation expenses totaling $3.4 million, or $0.08 per diluted share, that were associated with the acquisition.
For the fourth quarter alone, Bloomberry generated P98 million in net profits, down from P732 million in the previous year, an 86-percent plunge dragged down by a low 1.95-percent VIP hold rate, some one-off noncash expenses
relating to the depreciation of a transportation asset and unrealized foreign-exchange losses, as well as a P267-million net loss from its Korea operations.
Depreciation and amortization are noncash expenses
, so EBITDA also provides insight regarding approximate cash generation and operations controlled for capital investments."
Earnings before interest, taxes, depreciation and amortization inched up 0.4% to $454.5 million, while adjusted EBITDA (which additionally excludes such items as debt retirement losses, LIFO and other noncash expenses
) advanced 3.6% to $480.1 million.
Add back noncash expenses
such as depreciation and amortization, stock compensation expense, bad debt expense, and add back increases (subtract decreases) in deferred taxes.
said yesterday it expects to restate 10 years of previously issued financial statements and record additional noncash expenses
of less than $80 million for the years 1996 to 2003.
In addition, noncash expenses
for stock options were $14.6 million.
Expenses commonly excluded from pro forma earnings include restructuring charges, amortization of certain intangible assets, and noncash expenses
paid with equity.
The Tax Court agreed with the government and said, "Large transportation expenses (including significant noncash expenses
such as depreciation) associated with the Lear jet appear to be out of the ordinary and unnecessary in light of the fact that [Kurzet's] timber farm was not producing any current income (due to [his] decision to defer cutting any of the timber)."
Operating profits come after deductions for management fees, property taxes, and insurance, but before payments for rent, debt service, and income taxes, as well as noncash expenses
such as depreciation and amortization.
* Noncash expenses
. You probably know to add back depreciation, but Net Operating Losses are noncash too.