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Topic: Earnings before interest and taxes

	Understanding Income Statements
		Earnings before interest and taxes (EBIT) is the sum of operating and non-operating income.
		Regardless of how it is calculated, EBIT is especially relevant to bondholders and other debtors who use this figure to calculate a firm's ability to "cover" or pay its interest payments with its income for the year.
		Interest expense refers to the amount of interest a company has paid to its debtors in the current year.
	www.ameritradefinancial.com /educationv2/fhtml/learning/uincomestates.fhtml (1739 words)

	Understanding a Company's Income Statement (Site not responding. Last check: 2007-10-25)
		Earnings Before Interest and Taxes (EBIT) is the sum of operating and non-operating income.
		Regardless of how it is calculated, EBIT is especially relevant to bondholders and other debtors who use this figure to calculate a firm's ability to "cover" or pay its interest payments with its income for the year.
		Interest Expense refers to the amount of interest a company has paid to its debtors in the current year.
	www.ameritrade.com /education/html/encyclopedia/tutorial2/t2_s7.html (1805 words)

	1998 Duke Energy Annual Report
		Earnings before interest and taxes for Other Operations increased in 1998 compared to 1997, primarily as a result of the absence of $71 million of non-recurring 1997 merger-related costs and the favorable resolution of certain contingent items in 1998.
		The increase in earnings before interest and taxes was partially offset by a 1997 gain on the sale of the ownership interest in the Midland Cogeneration Venture.
		Earnings before interest and taxes for Other Operations declined $82 million in 1997 compared to 1996.
	www.corporate-ir.net /media_files/NYS/DUK/reports/ar_98/res9.html (138 words)

	earnings before interest taxes depreciation and amortization - BlueRider.com
		earnings before interest taxes depreciation and amortization - listen
		earnings before interest taxes depreciation and amortization [n]
		income before interest and taxes and depreciation and amortization have been subtracted; an indicator of a company's profitability that is watched by investors (especially in leveraged buyouts)
	earnings_before_interest_taxes_depreciation_and_amortization.bluerider.com /wordsearch/earnings_before_interest_taxes_depreciation_and_amortization (54 words)

	* EBITDA - (Business): Definition
		Earnings Before Interest, Taxes, Depreciation, and Amortization; intended to be a measure of the amount of cash generated by a company's operations (but leaving out the costs of financing and taxes - the "I" and the "T")...
		EBITDA Earnings before interest, taxes, depreciation, and amortization of a firm...
		Free cashflow is calculated as EBITDA (earnings before interest, taxes, depreciation and amortization) minus taxes paid during the year, minus capital expenditures, and plus or minus changes in working capital...
	en.mimi.hu /business/ebitda.html (390 words)

	Press Releases
		Earnings before interest and taxes improved from EUR 6.8 million in the previous year to EUR 12 million in the second quarter of 2005.
		Earnings before interest and taxes (EBIT) were up from EUR 9.5 million in the first quarter of 2004 to EUR 17.2 million in the same period this year, equating to growth of 81 percent.
		Earnings before interest and taxes (EBIT) were down almost twelve percent to EUR 31.6 million in the past year (from EUR 35.8 million in 2003).
	www.leoni.com /english/presse/presseinfo.html (8907 words)

	The Timken Company Reports Sales and Earnings Up in 2000; Fourth Quarter Reflects Weaker Global Markets
		Earnings per diluted share before these charges were $1.22 for 2000, compared to $1.01 per diluted share in 1999.
		Excluding restructuring, impairment and reorganization charges, Bearing EBIT margin was 4.9 percent, which was higher than both the third quarter of 2000 and the fourth quarter of 1999.
		Earnings before interest and taxes (EBIT) for 2000, excluding restructuring, impairment and reorganization charges, were $37.1 million, compared to $44.0 million in 1999.
	www.theautochannel.com /news/2001/01/18/012990.html (1549 words)

	Enron: 1997 -- Press Release (Site not responding. Last check: 2007-10-25)
		PGE reported earnings before interest and taxes of $51 million in the third quarter of 1997, the first quarter that Portland General has been consolidated with Enron's financial results.
		ECT reported earnings before interest and taxes of $98 million in the third quarter of 1997 compared to $74 million for the same period in 1996.
		International reported earnings before interest, minority interest and taxes of $65 million in the third quarter of 1997 compared to $38 million in the third quarter of 1996.
	www.enron.com /corp/pressroom/releases/1997/136ene3q.html (1090 words)

	Dow Reports Third Quarter Earnings
		Excluding unusual items, earnings before interest, income taxes and minority interests (EBIT) were $385 million, net income was $150 million and earnings per share were $0.16.
		EBIT decreased 45 percent from a year ago, excluding unusual items, as margins were compressed by a $700 million decline in price that outpaced a more than $500 million reduction in feedstock and energy costs.
		Performance Plastics EBIT was down from a year ago due to weaker demand in the electronics and automotive industries as well as strong competitive pressures overall.
	www.prnewswire.com /cgi-bin/stories.pl?ACCT=104&STORY=/www/story/10-25-2001/0001600630&EDATE= (1010 words)

	PanAgora Asset Management -- Glossary of Investment and Quantitative Terms (Site not responding. Last check: 2007-10-25)
		If a company earning $2 million in one year had $2 million shares of stock outstanding, its EPS would be $1 per share.
		Interest paid based on the basis of a 365-day/year schedule by a bank or other financial institution as opposed to a 360-day basis (ordinary interest).
		Theories of the term structure of interest rates, which include the pure expectations theory; the liquidity theory of the term structure, and the preferred habitat theory.
	www.panagora.com /glossary/bfglose.htm (5992 words)

	Earnings Before Interest And Taxes Definition
		Earnings before interest and taxes (EBIT) is an indicator of financial performance.
		Earnings before interest and taxes can be computed as Gross Revenue – (Cost of Goods Sold + Selling, General, and Administrative Expense).
		They argue that, since interest-rate levels and tax policies are beyond a company's control, earnings before interest and taxes is a better gauge of financial performance than actual earnings.
	www.investorglossary.com /earnings-before-interest-and-taxes.htm (196 words)

	Timken Announces Third Quarter Results
		The Automotive Group recorded a third-quarter loss of $8.5 million before interest and taxes versus a loss of $4.1 million a year ago.
		Earnings before interest and taxes (EBIT) were $7.4 million, compared with $3.4 million in 2002.
		EBIT and EBIT Margin are important financial measures used in the management of the business, including decisions concerning the allocation of resources and assessment of performance.
	www.theautochannel.com /news/2003/10/23/171286.html (2048 words)

	EBITDA - Glossary - Encyclopedia - Library - VC Experts
		"Earnings Before Interest, Taxes, Depreciation and Amortization": A measure of cash flow calculated as: Revenue - Expenses (excluding tax, interest, depreciation and amortization).
		By not including interest, taxes, depreciation and amortization, we can clearly see the amount of money a company brings in.
		This is especially useful when one company is considering a takeover of another because the EBITDA would cover any loan payments needed to finance the takeover.
	vcexperts.com /vce/library/encyclopedia/glossary_view.asp?glossary_id=155 (214 words)

	Earnings yield (Site not responding. Last check: 2007-10-25)
		Earnings before interest and, taxes (EBIT) A financial measure defined as revenues less cost of goods sold and selling, general, and administrative expenses.
		Earnings surprises Positive or negative differences from the consensus forecast of earnings by institutions such as First Call or IBES Negative earnings surprises generally have a greater adverse effect on stock prices than a reciprocal positive earnings surprise.
		Earnings yield The ratio of earnings per share, after allowing for tax and interest payments on fixed interest debt, to the current share price.
	www.getfolio.com /glossary_finance/e1.asp (1307 words)

	EBIT : eCorporations (Site not responding. Last check: 2007-10-25)
		EBIT is device that makes and traps very highly charged ions by means of a high current density electron...
		The interest coverage ratio is a measurement of the number of times a company can make its interest payments with its earnings before interest and taxes.
		Interest coverage is calculated by dividing EBIT by interest expense.
	www.ecorpscanada.ca /?Top=EBIT (781 words)

	Ball Corporation Reports Third Quarter Earnings \| SpaceRef - Your Space Reference
		Ball Corporation today reported third quarter earnings attributable to common shareholders of $101.7 million, or 90 cents per diluted share, on sales of $1.48 billion, compared to $68.8 million, or 61 cents per diluted share, on sales of $1.36 billion in the same period a year ago.
		Earnings per diluted share were improved by 2 cents in the third quarter and 7 cents for the first nine months due to a stronger euro versus a year ago.
		For the first nine months segment earnings were $34.8 million on sales of $491.9 million, compared to $37.7 million on sales of $383.0 million in the first nine months of 2003.
	www.spaceref.com /news/viewpr.html?pid=15384 (2128 words)

	* Ebit - (Stock Market): Definition
		EBIT margin - an operative company key ratio The EBIT margin (EBIT turnover yield) is gleaned through the relationship between EBIT and turnover.
		An indicator of a company's financial performance calculated as revenue minus expenses excluding tax and interest.
		The degree of financial leverage is sometimes defined as the percentage change in earnings per share (EPS) caused by a given percentage change in earnings before interest and taxes (EBIT)...
	en.mimi.hu /stockmarket/ebit.html (203 words)

	Enron: Enron Corp. -- Press Release (Site not responding. Last check: 2007-10-25)
		The corresponding diluted earnings per share were $0.53 and $0.48 for the fourth quarter of 1997 and 1996, respectively.
		Corresponding diluted earnings per share were $0.43 and $0.41 for the fourth quarter of 1997 and 1996, respectively.
		In the 1997 fourth quarter, EI generated earnings before interest, minority interest and taxes of $52 million compared with $35 million in the 1996 fourth quarter.
	www.enron.com /corp/pressroom/releases/1998/ene/ene4q97t.html (1477 words)

	earnings before interest and taxes
		The firm's policy is to attempt to pay out a certain percentage of earnings, but it pays a stated dollar dividend...
		Imputed interest Used in accounting to refer to interest that has effectively been paid to a...
		The most sensitive indicator of the direction of interest rates, since it is set daily by the...
	www.idrassociate.org /njsfv-4r-2.html (611 words)

	Understanding Income Statements (Site not responding. Last check: 2007-10-25)
		Gross profit on sales (also called gross margin) is the difference between all the revenue the company earns and the sales of its products minus the cost of what it took to produce them.
		Accountants use depreciation to allocate the initial purchase price of a long-term asset to all of the periods for which the asset will be used.
		An investor needs to know the company's dividend and retained earnings policies to decide whether the company's objectives are in line with the investor's.
	www.ameritrade.com /educationv2/fhtml/learning/uincomestates.fhtml (1684 words)

	Earnings before interest and taxes - Wikipedia
		Wikimedia needs your help in its US$200,000 fund drive.
		EBIT stands for "Earnings before Interest and Taxes" (operating income).
		A professional investor contemplating a change to the capital structure of a firm (e.g., through a leveraged buyout) first evaluates a firm's fundamental earnings potential (reflected by EBITDA or EBIT), and then determines the optimal use of debt vs. equity.
	en.wikipedia.org /wiki/EBIT (85 words)

	Bloomberg.com: Financial Glossary
		Tax to be paid quarterly on income that is not subject to withholding tax, including self-employed income, investment income, alimony, rent, and capital gains.
		Occurrences such as earnings surprises or stock splits that seem to present opportunity to generate abnormal returns for those trading on the news.
		Interest paid based on the basis of a 365-day/year schedule by a bank or other financial_institution as opposed to a 360-day basis (ordinary interest).
	www.bloomberg.com /invest/glossary/bfglose.htm (7045 words)

	BT Research - Earnings before interest and taxes (Site not responding. Last check: 2007-10-25)
		Earnings before interest and taxes (EBIT), also known as operating income and operating profit, is a term used to describe a company's earnings.
		A professional investor contemplating a change to the capital structure of a firm (e.g., through a leveraged buyout) first evaluates a firm's fundamental earnings potential (reflected by EBITDA and EBIT), and then determines the optimal use of debt vs. equity.
		Profit is later obtained by subtracting interest and taxes from the result.
	www.breathittteens.com /research.php?title=Earnings_before_interest_and_taxes (117 words)

	EBITDA - Computerworld (Site not responding. Last check: 2007-10-25)
		DEFINITION: EBITDA stands for "earnings before interest, taxes, depreciation and amortization." A widely accepted indicator of a company's financial performance, the term is sometimes used interchangeably with "cash flow." However, its usefulness as a measurement tool is disputed.
		EBITDA "creates the appearance of stronger interest coverage and lower financial leverage," says Pamela Stumpp, senior vice president of corporate finance at Moody's and lead author of the report, which was released last July.
		So are industries that receive cash long after their earnings cycles have ended, such as the hospitality sector, which operates time-share resorts; Internet companies, at which barter often replaces cash receipts; and the trucking industry, in which trucks, whose value depreciates quickly, have to be frequently maintained before service begins to slide.
	www.computerworld.com /managementtopics/management/itspending/story/0,10801,55895,00.html (1460 words)

	Business Glossary: E - Donald W. Reynolds National Center for Business Journalism
		Earnings before interest and, taxes (EBIT) A financial measure defined as revenues less cost of goods sold and selling, general, and administrative expenses.
		Earnings before interest, taxes, and depreciation (EBITD) A financial measure defined as revenues less cost of goods sold and selling, general, and administrative expenses.
		Earnings yield The ratio of earnings per share, after allowing for tax and interest payments on fixed interest debt, to the current share price.
	www.businessjournalism.org /bg/e (4768 words)

	Earnings Before Interest, Taxes, Depreciation and Amortization Definition
		Calculated by looking at earnings before the deduction of interest expenses, taxes, depreciation, and amortization.
		Since the distortionary accounting and financing effects on company earnings do not factor into EBIDTA, it is a good way of comparing companies within and across industries.
		This measure is also of interest to a company's creditors, since EBIDTA is essentially the income that a company has free for interest payments.
	investorwords.com /5534/Earnings_Before_Interest_Taxes_Depreciation_and... (153 words)

	WomensWallStreet.com - Glossary
		Earnings are the reason corporations exist, and are often the single most important determinant of a stock's price.
		Earnings are important to investors because they give an indication of the company's expected futuredividends and its potential for growth and capital appreciation.
		Tax imposed on the transfer of property from a deceased to his/her heirs, legatees or devisees.
	www.womenswallstreet.com /tools_resources/glossary/e.html (9077 words)

	Earnings Before Interest Taxes and Stock Trading at TradeStars + Stock Trading (Site not responding. Last check: 2007-10-25)
		More recently, a number of been wildly off in their predictions for where the markets will end the year indicates that they have no better idea of where it is going than time, the answer is a guarded yes.
		Earnings Before Interest Taxes is extremely risky and can result in substantial financial losses in a very short Arthur Levitt testified that, I am concerned that some stock traders dont fully understand the Earnings Before Interest Taxes level of risk they are assuming.
		I am concerned that North American Earnings Before Interest Taxes Securities Administrators Association, Inc. issued a report that describes the major problems and abuses in the Earnings Before Interest Taxes industry and summarizes the legal actions brought to date.
	www.tradestars.com /content/Earnings-Before-Interest-Taxes.asp (242 words)

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