Recent Annual Operating Results
Reconciliation of CMTL GAAP to Non-GAAP Financial Measures
Adjusted EBITDA
Reported net (loss) income
Income tax (benefit) expense
Write-off of deferred financing costs
Net interest expense & other
Stock-based compensation expense
Depreciation and amortization
Estimated contract settlement costs
Settlement of intellectual property litigation
Acquisition plan expenses
Facility exit costs
Adjusted EBITDA
2016
2017
2018
2019
2020
$
(7,738) $ 15,827 $ 29,769 $ 25,041 $
7,020
(454)
9,654
(5,143)
3,869
2,290
3,217
7,616
11,561
10,449
9,280
5,864
4,117
8,506
8,569
11,427
9,275
23,245
37,177
34,730
30,247
32,156
6,351
444
(12,020)
21,276
(3,204)
5,871
20,754
1,373
$
48,062 $
70,705 $
78,374 $
93,472 $
77,803
Earnings (Loss) per Diluted Share
2016
2017
2018
2019
2020
GAAP (loss) earnings per diluted share
$
(0.46) $
0.67 $
1.24 $
1.03 $
0.28
Acquisition plan expenses
1.03
0.19
0.53
Estimated contract settlement costs
0.20
0.01
Net discrete tax benefit (including Tax Reform)
(0.49)
(0.12)
(0.05)
Settlement of intellectual property litigation
Write-off of deferred financing costs
Facility exit costs
(0.33)
(0.10)
0.10
0.04
Non-GAAP earnings per diluted share
0.57
ՄՌ
0.34 $
0.75 $
1.34 $
0.77
COMTECH
LOCATION TECHNOLOGIES
Notes
(1) See statement regarding the use of Non-GAAP financial measures in the front of this presentation.
(2) Dollar amounts in thousands, except per share information. Comtech's fiscal year end is July 31.
(3) Totals may not foot due to rounding.
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