OSI - Outdoor Systems (Largest Billboard Co. in U.S. ) Message Board

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Non-Tech : OSI - Outdoor Systems (Largest Billboard Co. in U.S. )

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To: Devil's Advocate who wrote (110)	7/6/1998 6:52:00 PM
From: Dave Gahm	Read Replies (1) of 172

From the latest 10Q: As a result of the above factors, EBITDA increased by 120.2% to $63.3 million in the first quarter of 1998 from $28.7 million in the first quarter of 1997. The performance of an outdoor advertising business, such as the Company is measured by its ability to generate EBITDA. EBITDA is defined as operating income (loss) before interest, taxes, depreciation and amortization expense. EBITDA is not a measure of performance calculated in accordance with generally accepted accounting principles, the Company believes that EBITDA is accepted by the outdoor advertising industry as a generally recognized measure of performance and is used by analysts who report publicly on the performance of outdoor advertising companies. Nevertheless, this measure should not be considered in isolation or as a substitute for operating income, net income, net cash provided by operating activities or any other measure for determining the Company's operating performance or liquidity which is calculated in accordance with generally accepted accounting principles.

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