Item 2.02 Results of Operations and Financial Condition
On
The Press Release contains the non-GAAP measure adjusted earnings before interest, taxes, other income or expense, depreciation and amortization ("adjusted EBITDA"). The Company believes that the presentation of the non-GAAP measure, i.e. adjusted EBITDA, provide useful information for the understanding of its ongoing operations and enables investors to focus on period-over-period operating performance, and thereby enhances the user's overall understanding of the Company's current financial performance relative to past performance and provides, along with the nearest GAAP measures, a baseline for modeling future earnings expectations. The Company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the Company's reported GAAP results. Additionally, the Company notes that there can be no assurance that the above referenced non-GAAP financial measure is comparable to similarly titled financial measures used by other publicly traded companies.
Because the Company has not completed its year end closing process, it does not
have sufficient information to provide within the Press Release a reconciliation
of the non-GAAP measure adjusted EBITDA to a comparable GAAP financial measure
such as net income. As a result, the Company believes it is relevant to provide
the following GAAP financial measures for the fourth quarter of 2020:
depreciation and amortization of
Our preliminary financial results for the quarter and year ended
The information in Item 2.02 of this Current Report on Form 8-K and the Press Release attached hereto as Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits. Exhibit Description 99.1 Press Release datedFebruary 1, 2021 (furnished only).
© Edgar Online, source