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Reconciliation of GAAP Measures to Non-GAAP Amounts for December 2010

This report presents a detailed reconciliation of net income to adjusted net income for the three and twelve months ended December 26, 2010, compared to the previous year. It highlights significant adjustments made to net income, including loss on debt extinguishment, restructuring charges, and tax-related items. The document emphasizes the importance of understanding these adjustments, as non-GAAP measures provide valuable insights into the company's operational performance, aiding investors and analysts in forecasting future results.

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Reconciliation of GAAP Measures to Non-GAAP Amounts for December 2010

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  1. Reconciliation of GAAP Measures to Non-GAAP AmountsReconciliation of Net Income to Adjusted Net Income(in thousands, except per share amounts) Three Months Ended Year Ended December 26, 2010 December 26, 2010 December 27, 2009 December 27, 2009 $ 33,190 $ 60,264 $ 15,789 $ 32,384 Net income from continuing operations Add back certain items, net of tax: (27,780) 6,713 20 1,979 Loss (gain) on extinguishment of debt 15,672 1,596 6,086 1,881 Restructuring related charges 15,331 15,331 17,834 17,834 Impairment related charges - 5,794 1,583 3,676 Accelerated depreciation on equipment 4 - (271) 61 Other (3,839) (205) 3,839 (657) Reversal of interest on tax items 6,442 - - - Impact of revised projected annual tax rate (4,797) (6,408) (2,787) (7,061) Certain discrete tax items $ 49,644 Adjusted income from continuing operations $ 33,571 $ 60,613 $ 57,992 Diluted earnings per share: $ 0.38 $ 0.18 $ 0.39 $ 0.72 Income from continuing operations $ 0.59 $ 0.39 $ 0.68 $ 0.72 Adjusted income from continuing operations Non-GAAP measures should not be considered a substitute for GAAP measures. However, adjusted income from continuing operations provides meaningful supplemental information about the company’s underlying results of operations, and management believes it assists investors and financial analysts in analyzing and forecasting future periods.

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