Attached files
| file | filename |
|---|---|
| 8-K - 8-K - DOVER DOWNS GAMING & ENTERTAINMENT INC | a11-4514_28k.htm |
| EX-99.1 - EX-99.1 - DOVER DOWNS GAMING & ENTERTAINMENT INC | a11-4514_2ex99d1.htm |
Exhibit 99.2
DOVER DOWNS GAMING & ENTERTAINMENT, INC.
SUPPLEMENTAL DATA
RECONCILIATION OF OPERATING EARNINGS TO ADJUSTED EBITDA
In Thousands
(Unaudited)
|
|
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Three Months Ended |
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Years Ended |
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|
|
|
2010 |
|
2009 |
|
2010 |
|
2009 |
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|
Reconciliation of operating earnings to adjusted EBITDA: |
|
|
|
|
|
|
|
|
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Operating earnings |
|
$ |
1,620 |
|
$ |
3,616 |
|
$ |
14,748 |
|
$ |
21,462 |
|
|
Impairment charge |
|
— |
|
— |
|
— |
|
2,177 |
| ||||
|
Depreciation |
|
3,110 |
|
3,020 |
|
12,059 |
|
11,939 |
| ||||
|
Adjusted EBITDA |
|
$ |
4,730 |
|
$ |
6,636 |
|
$ |
26,807 |
|
$ |
35,578 |
|
We define EBITDA as earnings before interest, taxes, depreciation and amortization and Adjusted EBITDA as EBITDA before the impairment charge. EBITDA is a supplemental non-GAAP financial measure commonly used by management and industry analysts to evaluate our operations. We believe that EBITDA provides useful information to investors regarding our ability to service debt. EBITDA should not be construed as an alternative to operating earnings (as an indicator of our operating performance) or cash flows from operations (as a measure of liquidity) as determined in accordance with accounting principles generally accepted in the United States of America. Not all companies calculate EBITDA in the same manner, and Adjusted EBITDA as presented by Dover Downs Gaming & Entertainment, Inc. may not be comparable to similarly titled measures presented by other companies.