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CTS Corporation
Definition of Financial Term - "EBITDA" and Reconciliation of EBITDA to Adjusted EBITDA
($ in millions)
March 31
2016
2015
2015
2014
Full Year
2013
2012
2011
Net earnings from continuing operations
$
7.9 $
6.3
$
7.0 $
26.5 $
2.0 $
13.5 $
11.3
Depreciation and amortization expense
Interest expense
Tax expense
$
$
$
4.0 $
0.8 $
4.1 $
4.1
0.6
2.7
$
$
$
16.3 $
2.6 $
5.3 $
17.0 $
2.3 $
12.8 $
17.3 $
3.3 $
16.1 $
13.5 $
2.6 $
1.0 $
12.1
2.1
1.1
EBITDA from continuing operations
$
16.8
$
13.7
$
31.2
$
58.6
$
38.6
$
30.5
$
26.5
Charges (credits) to EBITDA from continuing operations:
Restructuring, restructuring-related, and asset impairment charges
Gain on sale-leaseback
Non-recurring environmental charge
Foreign currency loss
CEO search costs, legal costs, and acquisition-related costs
Total adjustments to reported operating earnings from continuing operations
$
$
$
$
$
$
0.2
0.8
1.0
$
$
$
$
$
$
0.8
0.8
$
$
$
$
$
$
15.2
14.5
29.7
$
$
$
$
$
$
7.9
7.9
$
$
$
$
$
$
11.8
4.1
15.9
$
$
$
$
$
$
4.5
(10.3)
3.9
(1.9)
$
$
$
$
$
$
2.6
0.4
3.0
Adjusted EBITDA from continuing operations
$
17.8
$
14.5
$
60.9
$
66.5
$
54.5
$
28.6
$
29.5
Sales from continuing operations
$
96.7 $
98.3
$ 382.3 $ 404.0 $ 409.5 $ 304.5 $ 279.9
Adjusted EBITDA as a % of sales from continuing operations
18.4%
14.8%
15.9%
16.5%
13.3%
9.4%
10.5%