is a non-GAAP measure defined and reconciled to GAAP in the attached financial schedules.
is a non-GAAP measure that management uses to evaluate the cash generating capacity of the company.
Since this variability impacts the GAAP results of industry issuers in different ways, disclosure of EBITDDA
can make it easier for the reader to make meaningful comparisons between operating results and cash-generating capabilities from one timber company to another.
With different issuers employing various calculation methodologies, disclosure of EBITDDA
can make it easier for the reader to make meaningful comparisons between the operating results and cash-generating capabilities of different timber companies.
The primary driver behind the improvement in year-to-date EBITDDA
is an increase in timber harvested as a result of a timberland acquisition in late 2004.
In contrast to this EBITDDA
comparison, year-to-date operating income for our Fee Timber segment declined by 5%, from $10.
For the six months ended March 31, 2004 EBITDDA
The following reconciles EBITDDA
to our income from continuing operations for the second fiscal quarters ended March 31, 2004 and 2003.