Micron Solutions, Inc. Reports 2020 Second Quarter Results


MICRON SOLUTIONS, INC.
EBITDA RECONCILIATION (1)
($ in thousands)
 
  Three Months Ended
  June 30,
  2020   2019 
Net income (loss) $ 1,031     $   (471 )
Interest expense 81   112 
Depreciation and amortization 334   374 
Share-based compensation 7   58 
Non-cash incentive plan accruals 50   50 
Non-recurring (income) expenses (1,213)  - 
Adjusted EBITDA $   290    $ 123 
Adjusted EBITDA margin % 6.7%  2.5%
        

(1) Non-GAAP Financial Measures
In addition to reporting net income (loss), a U.S. generally accepted accounting principle (“GAAP”) measure, this news release contains information about Adjusted EBITDA (income from continuing operations adjusted for income taxes, interest, depreciation and amortization, share-based compensation expense and certain non-recurring income and expenses), which is a non-GAAP measure.  Share-based compensation includes directors fees paid by means of stock grants versus cash as well as non-cash incentives. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results.  Adjusted EBITDA is not calculated through the application of GAAP.  Accordingly, it should not be considered as a substitute for the GAAP measure of net income (loss) and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure.  The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies.




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