Exhibit 99.1
SUMMARY CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(unaudited)
| | Quarter Ended | | Six Months Ended | |
| | June 30,
2008 | | June 30,
2007 | | March 31,
2008 | | June 30,
2008 | | June 30,
2007 | |
| | | | | | | | | | | |
Revenues | | $ | 156,082 | | $ | 143,854 | | $ | 152,413 | | $ | 308,495 | | $ | 266,483 | |
Cost of Services | | 105,418 | | 97,613 | | 104,985 | | 210,403 | | 182,782 | |
Gross Profit | | 50,664 | | 46,241 | | 47,428 | | 98,092 | | 83,701 | |
Selling, General and Administrative Expenses | | 38,826 | | 38,992 | | 39,697 | | 78,523 | | 73,253 | |
Operating Income | | 11,838 | | 7,249 | | 7,731 | | 19,569 | | 10,448 | |
Interest Expense | | (2,323 | ) | (2,988 | ) | (2,662 | ) | (4,985 | ) | (5,124 | ) |
Interest Income | | 158 | | 220 | | 273 | | 431 | | 638 | |
Other (Expense) Income | | 1,071 | | 431 | | (1,222 | ) | (151 | ) | 431 | |
Pre-tax Income | | 10,744 | | 4,912 | | 4,120 | | 14,864 | | 6,393 | |
Income Tax Provision | | 4,652 | | 1,974 | | 1,717 | | 6,369 | | 2,544 | |
| | | | | | | | | | | |
Net Income | | $ | 6,092 | | $ | 2,938 | | $ | 2,403 | | $ | 8,495 | | $ | 3,849 | |
| | | | | | | | | | | |
Diluted Earnings Per Share | | $ | 0.17 | | $ | 0.08 | | $ | 0.07 | | $ | 0.24 | | $ | 0.11 | |
Weighted Average Common and Common Equivalent Shares Outstanding—Diluted | | 35,838 | | 35,813 | | 35,375 | | 35,612 | | 35,660 | |
RECONCILIATION OF GAAP NET INCOME AND EARNINGS PER SHARE TO NON-GAAP EBITDA AND EBITDA PER SHARE
(In thousands, except per share amounts)
(unaudited)
| | Quarter Ended | |
| | June 30,
2008 | | June 30,
2007 | | March 31,
2008 | |
Net Income | | $ | 6,092 | | $ | 0.17 | | $ | 2,938 | | $ | 0.08 | | $ | 2,403 | | $ | 0.07 | |
Other Expense (Income) | | (1,071 | ) | (0.03 | ) | (431 | ) | (0.01 | ) | 1,222 | | 0.03 | |
Interest Expense, net | | 2,165 | | 0.06 | | 2,768 | | 0.08 | | 2,389 | | 0.07 | |
Income Tax Provision | | 4,652 | | 0.13 | | 1,974 | | 0.06 | | 1,717 | | 0.05 | |
Depreciation | | 1,216 | | 0.03 | | 1,551 | | 0.04 | | 1,356 | | 0.04 | |
Amortization of Intangibles | | 2,372 | | 0.07 | | 3,778 | | 0.10 | | 2,328 | | 0.06 | |
EBITDA | | 15,426 | | 0.43 | | 12,578 | | 0.35 | | 11,415 | | 0.32 | |
Equity-based Compensation | | 1,560 | | 0.04 | | 2,231 | | 0.06 | | 1,585 | | 0.05 | |
Adjusted EBITDA | | $ | 16,986 | | $ | 0.47 | | $ | 14,809 | | $ | 0.41 | | $ | 13,000 | | $ | 0.37 | |
| | | | | | | | | | | | | |
Weighted Average Common and Common Equivalent Shares Outstanding | | 35,838 | | | | 35,813 | | | | 35,375 | | | |
| | Six Months Ended | |
| | June 30,
2008 | | June 30,
2007 | |
Net Income | | $ | 8,495 | | $ | 0.24 | | $ | 3,849 | | $ | 0.11 | |
Other Expense (Income) | | 151 | | 0.00 | | (431 | ) | (0.01 | ) |
Interest Expense, net | | 4,554 | | 0.13 | | 4,486 | | 0.13 | |
Income Tax Provision | | 6,369 | | 0.18 | | 2,544 | | 0.07 | |
Depreciation | | 2,572 | | 0.07 | | 2,892 | | 0.08 | |
Amortization of Intangibles | | 4,700 | | 0.13 | | 7,943 | | 0.22 | |
EBITDA | | 26,841 | | 0.75 | | 21,283 | | 0.60 | |
Equity-based Compensation | | 3,145 | | 0.09 | | 3,337 | | 0.09 | |
Adjusted EBITDA | | $ | 29,986 | | $ | 0.84 | | $ | 24,620 | | $ | 0.69 | |
| | | | | | | | | |
Weighted Average Common and Common Equivalent Shares Outstanding | | 35,612 | | | | 35,660 | | | |
