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To: Donaldm who wrote (10956)	6/27/2002 8:51:02 AM
From: Wowzer	Respond to of 17683

EBITDA = Earnings Before Interest Taxes Depreciation and Amortization. It is an attempt to get what the "operating" income of a company is.

To: Donaldm who wrote (10956)	6/27/2002 8:57:12 AM
From: Elmer	Respond to of 17683

EBITDA stands for earnings before interest, taxes, depreciation and amortization expenses. Another equivalent definition is operating profit before depreciation and amortization expense. The metric is used because it reflects a return on total capital (debt plus equity) and strips out amortization of goodwill and intangible assets which would not burden earnings but for an acquisition occurring. In today's environment, acquisition accounting (namely how you book excess purchase price over identifiable tangible assets) is also being questioned as the stock of Tyco and AOL demonstrate.

To: Donaldm who wrote (10956)	6/27/2002 7:06:22 PM
From: Yogizuna	Read Replies (1) \| Respond to of 17683

EBITDA= fraud in my opinion.... If a company does not have any earnings after interest charges and taxes, then they do not have any free and clear profit yet! It's all about smoke and mirrors IMO, simple as that.