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KIRBY CORP FILES (8-K) Disclosing Results of Operations and Financial Condition

January 30, 2014

Item 2.02. Results of Operations and Financial Condition On January 29, 2014 , Kirby Corporation ("Kirby") issued a press release announcing earnings for the fourth quarter and year ended December 31, 2013 . A copy of the press release is attached as Exhibit 99.1 to this report. EBITDA, a non-GAAP financial measure, is used in the press release. Kirby defines EBITDA as net earnings attributable to Kirby before interest expense, taxes on income, depreciation and amortization. Kirby has historically evaluated its operating performance using numerous measures, one of which is EBITDA. EBITDA is presented because of its wide acceptance as a financial indicator. EBITDA is one of the performance measures used in Kirby's incentive bonus plan. EBITDA is also used by rating agencies in determining Kirby's credit rating and by analysts publishing research reports on Kirby, as well as by investors and investment bankers generally in valuing companies. A quantitative reconciliation of EBITDA to GAAP net earnings attributable to Kirby for the 2013 and 2012 fourth quarter and year is included in the press release.


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Source: Edgar Glimpses


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