Entravision Communications Corporation Reconciliation of Free Cash Flow to Net Income (Loss) (In thousands; unaudited) The most directly comparable GAAP financial measure is net income (loss). A reconciliation of this non-GAAP measure to net income (loss) for each of the periods presented is as follows: Three-Month Period Nine-Month Period Ended September 30, Ended September 30, ------------------- ------------------- 2012 2011 2012 2011 ---- ---- ---- ---- Consolidated adjusted EBITDA (1) $21,640 $15,125 $51,521 $41,132 Net interest expense (1) 8,092 8,888 25,001 26,702 Cash paid for income taxes 148 125 809 877 Capital expenditures (2) 2,855 1,840 6,502 5,874 Free cash flow (1) 10,545 4,272 19,209 7,679 Capital expenditures (2) 2,855 1,840 6,502 5,874 Amortization of debt issue costs (569) (556) (1,706) (1,642) Non-cash income tax expense (1,080) (1,827) (3,485) (3,444) Amortization of syndication contracts (175) (154) (556) (1,297) Payments on syndication contracts 435 551 1,369 1,506 Non-cash stock-based compensation included in direct operating expenses (45) (51) (101) (155) Non-cash stock-based compensation included in selling, general and administrative expenses (222) (157) (546) (472) Non-cash stock-based compensation included in corporate expenses (498) (287) (1,116) (732) Depreciation and amortization (4,013) (5,015) (12,436) (14,172) Other income (loss) - - - 687 Gain (loss) on debt extinguishment - - (1,230) - Net income (loss) $7,233 $(1,384) $5,904 $(6,168) ====== ======= ====== ======= (1) Consolidated adjusted EBITDA, net interest expense, and free cash flow are defined on page 1. (2) Capital expenditures is not part of the consolidated statement of operations.
Entravision Communications Corporation
Web site: http://www.entravision.com/
