Exhibit 99.2
Adjusted EBITDA GAAP Reconciliation — Navarre Corporation Annual Shareholder Meeting Presentation (September 15, 2010)
March 31, 2010 | March 31, 2009 | March 31, 2008 | March 31, 2007 | March 31, 2006 | ||||||||||||||||
Net income (loss), as reported | $ | 22,872 | $ | (88,434 | ) | $ | 9,658 | $ | 4,059 | $ | (3,175 | ) | ||||||||
Interest expense (income), net | 2,802 | 4,544 | 5,868 | 9,863 | 10,634 | |||||||||||||||
Income tax expense (benefit) | (6,203 | ) | (14,483 | ) | 5,273 | 2,594 | (654 | ) | ||||||||||||
Depreciation and amortization | 6,316 | 8,943 | 9,587 | 10,958 | 9,259 | |||||||||||||||
Share-based compensation | 1,003 | 1,033 | 1,072 | 910 | — | |||||||||||||||
Results of divested music division, net | — | — | (2,602 | ) | (455 | ) | 2,143 | |||||||||||||
EBITDA before share-based compensation expense | 26,790 | (88,397 | ) | 28,856 | 27,929 | 18,207 | ||||||||||||||
Impairment and other charges | — | 111,102 | — | |||||||||||||||||
Adjusted EBITDA | $ | 26,790 | $ | 22,705 | $ | 28,856 | $ | 27,929 | $ | 18,207 | ||||||||||