GeoEye Reports Third Quarter 2012 Earnings Results

 

ADJUSTED NET INCOME AVAILABLE TO COMMON STOCKHOLDERS AND ADJUSTED DILUTED EPS

(in thousands, except per share amounts)










Three Months Ended 9/30/12


Three Months Ended 9/30/11


Nine Months Ended 9/30/12


Nine Months Ended 9/30/11













Net income available to common stockholders

$  7,637


$  11,664


$  32,499


$  32,768

Adjustments:








Transaction costs

8,339




10,715



Adjustment to normalize provision for income taxes

(3,416)




(4,254)



Impact of adjustments on income allocated to participating securities

(525)




(693)



Adjusted net income available to common stockholders

$  12,035


$  11,664


$  38,267


$  32,768

























Weighted average shares - fully diluted

22,845


22,789


22,799


22,767

Adjusted diluted EPS

$  0.53


$  0.51


$  1.68


$  1.44









Adjusted Net Income Available to Common Stockholders is a non-GAAP financial measure that represents net income available to common stockholders before other items including transaction related costs, net of tax.  Adjusted Diluted EPS is a non-GAAP financial measure that represents fully diluted earnings per share before other items, net of tax.  We believe that Adjusted Net Income Available to Common Stockholders and Adjusted Diluted EPS provide useful information to investors because they allow investors to evaluate our performance for different periods on a more comparable basis by excluding items that are not related to the ongoing operations of our business.  However, Adjusted Net Income Available to Common Stockholders and Adjusted Diluted EPS are not recognized terms under financial performance under GAAP, and our calculation of Adjusted Net Income Available to Common Stockholders and Adjusted Diluted EPS may not be comparable to the calculation of similarly titled measures of other companies.


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