Record Q1 for Loar Holdings (NYSE: LOAR) as 2026 adjusted outlook raised
Rhea-AI Filing Summary
Loar Holdings Inc. reported record first-quarter 2026 results, combining strong sales growth with higher non-cash and interest costs. Net sales reached $156.1 million, up 36.1% from the prior-year quarter, while net income declined to $11.1 million from $15.3 million as interest expense and amortization of acquired intangibles rose and inventory step-up from recent acquisitions was recognized.
Adjusted EBITDA increased to $63.2 million, up 46.6%, and Adjusted EBITDA Margin improved to 40.5% from 37.6%, reflecting operating leverage and accretive acquisitions. Diluted EPS was $0.12, down from $0.16, but Adjusted EPS rose to $0.34 from $0.28.
Loar raised its full-year 2026 outlook for net sales to $645–$655 million and Adjusted EBITDA to $257–$262 million, and increased Adjusted EPS guidance to $1.26–$1.30. At the same time, it lowered GAAP net income guidance to $53–$57 million and diluted EPS to $0.54–$0.59, reflecting higher expected interest and amortization expenses.
Positive
- Record Q1 2026 performance and stronger outlook: Net sales rose 36.1% to $156.1 million, Adjusted EBITDA grew 46.6% to $63.2 million with margin up to 40.5%, and 2026 guidance for sales, Adjusted EBITDA and Adjusted EPS was raised.
- Broad-based growth across end markets: Commercial aerospace net sales increased to $75.0 million from $48.5 million, defense to $40.6 million from $28.8 million, and other markets to $9.7 million from $6.6 million, indicating demand strength across Loar’s portfolio.
Negative
- Lower GAAP profitability and higher leverage: Q1 2026 net income fell to $11.1 million from $15.3 million as interest expense nearly tripled to $18.7 million and amortization rose, and long-term debt increased to $943.3 million, contributing to reduced GAAP net income and EPS guidance for 2026.
Insights
Loar delivers record Q1 sales and margins, raises 2026 adjusted guidance despite higher interest and amortization.
Loar Holdings posted Q1 2026 net sales of $156.1 million, up 36.1% year over year, driven by both commercial and defense markets. Adjusted EBITDA rose 46.6% to $63.2 million, lifting Adjusted EBITDA Margin to 40.5% from 37.6%, showing strong operating leverage and contribution from acquisitions.
GAAP net income fell to $11.1 million from $15.3 million as net interest expense more than doubled to $18.7 million and amortization of acquired intangibles rose to $15.7 million. The company also recorded a $4.9 million inventory step-up related to the LMB and Harper Engineering acquisitions, all of which weigh on reported margins but are largely non-operating or non-cash.
Management raised 2026 guidance for net sales to $645–$655 million and Adjusted EBITDA to $257–$262 million, and increased Adjusted EPS to $1.26–$1.30. However, GAAP net income guidance was cut to $53–$57 million with net income margin around 8%, reflecting the higher interest and amortization burden from its acquisitive strategy. Future filings will show how quickly strong bookings and backlog translate into sustained cash generation alongside elevated leverage.
8-K Event Classification
Key Figures
Key Terms
Adjusted EBITDA financial
inventory step-up financial
non-GAAP financial measures financial
forward-looking statements regulatory
Earnings Snapshot
For 2026, Loar guides net sales to $645–$655 million, net income to $53–$57 million, Adjusted EBITDA to $257–$262 million, net income margin around 8%, Adjusted EBITDA Margin about 40%, diluted EPS to $0.54–$0.59, and Adjusted EPS to $1.26–$1.30.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On May 7, 2026, Loar Holdings Inc. announced its financial results for the quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference.
The information in Item 2.02 and in the accompanying Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number |
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Description |
99.1 |
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Press release issued by Loar Holdings Inc. on May 7, 2026 |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: |
May 7, 2026 |
By: |
/s/ Glenn D’Alessandro |
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Glenn D’Alessandro |
Exhibit 99.1
Loar Holdings Inc. Reports Q1 2026 Record Results and Upward Revision to 2026 Outlook
May 7, 2026
WHITE PLAINS, NY., May 7, 2026 /ACCESSWIRE/ -- Loar Holdings Inc. (NYSE: LOAR) (the “Company,” “Loar,” “we,” “us” and “our”), reported record results for the first quarter of 2026.
First Quarter 2026
"Loar had a strong start to the year with net sales, Adjusted EBITDA and Adjusted EBITDA Margin achieving record highs. As a result of these first quarter results, with further evaluation of orders to date, and considering the proprietary content of our portfolio, we have increased our guidance for 2026," said Dirkson Charles, Loar Holdings Chief Executive Officer and Executive Co-Chairman of the Board of Directors. “In addition, we have made continued advancement in new product development and qualification, adding to our confidence that we are well positioned to meet our higher guidance for 2026," continued Mr. Charles.
Loar reported net sales for the quarter of $156.1 million, an increase of $41.4 million or 36.1% over the prior year’s quarter. Organically(2) net sales increased 11.4% or $13.0 million, to $127.7 million.
Net income for the quarter was $11.1 million, a decrease of $4.2 million compared to the prior year’s quarter. The decrease in net income for the quarter was primarily driven by higher interest expense, higher amortization of acquired intangible assets, and recognition of inventory step-up related to the LMB and Harper Engineering acquisitions, partially offset by a lower tax provision.
Adjusted EBITDA for the quarter was $63.2 million, an increase of 46.6% or $20.1 million compared to the prior year’s quarter. Adjusted EBITDA Margin was 40.5%, compared to 37.6% in the first quarter of the prior year. The increase in Adjusted EBITDA Margin was due to the execution of our strategic value drivers and the accretive impact of increased sales.
(1)
(2) |
The calculation of Adjusted Earnings Per Share has been updated for the current and prior year’s quarter to reflect an adjustment for amortization of acquired intangible assets. We believe this adjustment provides a more consistent view of our earnings. Net organic sales represent net sales from our existing businesses for comparable periods and exclude net sales from acquisitions. We include net sales from new acquisitions in net organic sales from the 13th month after the acquisition on a comparative basis with the prior period. |
Full Year 2026 Outlook – Revised
“Our strong bookings and backlog indicate continued strength in demand throughout the balance of the year, and we have adjusted our guidance accordingly,” said Glenn D’Alessandro, Treasurer and Chief Financial Officer. “Additionally, we revised our calculation of Adjusted Earnings Per Share to exclude the non-cash amortization of acquired intangibles. As an acquisitive company, we believe this adjustment provides a more consistent view of our earnings. Please refer to the reconciliation tables for additional information.”
Adjusted EBITDA, Adjusted Earnings Per Share and Adjusted EBITDA Margin are non-GAAP financial measures provided in the “Full Year 2026 Outlook – Revised” section on a forward-looking basis. The Company does not provide a reconciliation of such forward-looking measures to the most directly comparable financial measures calculated and presented in accordance with GAAP because to do so would be potentially misleading and not practical given the difficulty of projecting event-driven transactional and other non-core operating items in any future period. The magnitude of these items, however, may be significant.
(3)
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The calculation of Adjusted Earnings Per Share has been updated in the current and prior outlook to reflect an adjustment for amortization of acquired intangible assets. We believe this adjustment provides a more consistent view of our earnings. |
Earnings Conference Call
A conference call will be held at 10:30 a.m., Eastern Time on May 7, 2026. To participate in the call telephonically please dial +1 877-407-0670 / +1 215-268-9902. International participants can find a list of toll-free numbers here. A live audio webcast will also be available at the following link as well as through the Investor section of Loar Holdings website; https://ir.loargroup.com.
The webcast will be archived and available for replay later in the day.
About Loar Holdings Inc.
Loar Holdings Inc. is a diversified manufacturer and supplier of niche aerospace and defense components that are essential for today’s aircraft and aerospace and defense systems. Loar has established relationships across leading aerospace and defense original equipment manufacturers and Tier Ones worldwide.
Non-GAAP Supplemental Information
We present in this press release certain financial information based on our EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share. References to “EBITDA” mean earnings before interest, taxes, depreciation and amortization, references to “Adjusted EBITDA” mean EBITDA plus, as applicable for each relevant period, certain adjustments as set forth in the reconciliations of net income to EBITDA and Adjusted EBITDA, and references to “Adjusted EBITDA Margin” refer to Adjusted EBITDA divided by net sales. References to “Adjusted Net Income” mean net income plus certain adjustments as set forth in the reconciliations below to derive Adjusted EBITDA from EBITDA and the amortization of acquired intangible assets, less the tax effect of these adjustments. References to "Adjusted Earnings Per Share" mean Adjusted Net Income divided by weighted average common shares outstanding—diluted. EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share are not measurements of financial performance under U.S. GAAP. We present EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share because we believe they are useful indicators for evaluating operating performance. In addition, our management uses Adjusted EBITDA to review and assess the performance of the management team in connection with employee incentive programs and to prepare its annual budget and financial projections. Moreover, our management uses Adjusted EBITDA of target companies to evaluate acquisitions.
Although we use EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share as measures to assess the performance of our business and for the other purposes set forth above, the use of non-GAAP financial measures as analytical tools has limitations, and you should not consider any of them in isolation, or as a substitute for analysis of our results of operations as reported in accordance with U.S. GAAP. Some of these limitations are:
Because of these limitations, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share should not be considered as measures of cash available to us to invest in the growth of our business. Management compensates for these limitations by not viewing EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share in isolation and specifically by using other U.S. GAAP measures, such as net sales and operating profit, to measure our operating performance. EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share are not measurements of financial performance under U.S. GAAP, and they should not be considered as alternatives to net income or cash flow from operations determined in accordance with U.S. GAAP. Our calculations of EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share may not be comparable to the calculations of similarly titled measures reported by other companies.
Future Looking Statements
This press release includes express or implied forward-looking statements. Forward-looking statements include all statements that are not historical facts, including those that reflect our current views with respect to, among other things, our operations and financial performance. The words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” the negative version of these words or similar terms and phrases may identify forward-looking statements in this press release, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements contained in this press release, including, but not limited to, the statements under the heading “Full Year 2026 Outlook – Revised” are based on management’s current expectations and are not guarantees of future performance. Our expectations and beliefs are expressed in management’s good faith, and we believe there is a reasonable basis for them, however, the forward-looking statements are subject to various known and unknown risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory, and other factors, many of which are beyond our control. We believe that these factors include but are not limited to the following: the almost exclusive focus of our business on the aerospace and defense industry; our heavy reliance on certain customers for a significant portion of our sales; the fact that we have in the past consummated acquisitions and our intention to continue to pursue acquisitions, and that our business may be adversely affected if we cannot consummate acquisitions on satisfactory terms, or if we cannot effectively integrate acquired operations; and the other risks and uncertainties described in Part I, Item 1A of the Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (“SEC”), and other periodic reports filed by the Company from time to time with the SEC.
These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual results may vary in material respects from those projected in the forward-looking statements. Any forward-looking statement made by us in this press release speaks only as of the date of this press release and is expressly qualified
in its entirety by the cautionary statements included in this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, investments, or other strategic transactions we may make. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable law.
Contact
Ian McKillop
Loar Holdings Inc. Investor Relations
IR@loargroup.com
Loar Holdings Inc.
Table 1: Condensed Consolidated Balance Sheets
(Unaudited, amounts in thousands except share amounts)
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March 31, 2026 |
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December 31, 2025 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
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$ |
94,882 |
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$ |
84,827 |
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Accounts receivable, net |
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100,687 |
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88,026 |
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Inventories |
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122,557 |
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109,036 |
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Other current assets |
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11,556 |
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11,123 |
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Income taxes receivable |
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5,405 |
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5,486 |
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Total current assets |
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335,087 |
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298,498 |
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Property, plant and equipment, net |
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88,473 |
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82,536 |
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Finance lease assets |
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1,825 |
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1,894 |
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Operating lease assets |
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6,877 |
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6,229 |
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Other long-term assets |
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27,347 |
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25,935 |
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Intangible assets, net |
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757,592 |
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606,406 |
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Goodwill |
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1,081,154 |
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1,008,377 |
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Total assets |
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$ |
2,298,355 |
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$ |
2,029,875 |
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Liabilities and stockholders' equity |
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Current liabilities: |
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Accounts payable |
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$ |
23,885 |
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$ |
18,606 |
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Current portion of long-term debt, net |
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6,720 |
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4,362 |
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Current portion of finance lease liabilities |
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288 |
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279 |
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Current portion of operating lease liabilities |
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1,370 |
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818 |
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Income taxes payable |
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2,533 |
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3,022 |
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Accrued expenses and other current liabilities |
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38,684 |
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36,419 |
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Total current liabilities |
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73,480 |
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63,506 |
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Deferred income taxes |
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74,469 |
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68,377 |
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Long-term debt, net |
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943,346 |
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711,338 |
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Finance lease liabilities |
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2,813 |
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2,891 |
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Operating lease liabilities |
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5,746 |
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5,605 |
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Other long-term liabilities |
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18,593 |
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3,405 |
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Total liabilities |
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1,118,447 |
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855,122 |
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Commitments and contingencies |
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Stockholders' equity: |
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Preferred stock, $0.01 par value, 1,000,000 shares authorized, and no shares issued or outstanding |
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— |
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— |
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Common stock, $0.01 par value, 485,000,000 shares authorized; 93,624,471 and 93,622,471 issued and outstanding at March 31, 2026 and December 31, 2025, respectively |
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936 |
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936 |
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Additional paid-in capital |
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1,129,463 |
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1,125,015 |
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Retained earnings |
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62,729 |
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51,586 |
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Accumulated other comprehensive loss |
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(13,220 |
) |
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(2,784 |
) |
Total stockholders' equity |
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1,179,908 |
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1,174,753 |
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Total liabilities and stockholders' equity |
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$ |
2,298,355 |
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$ |
2,029,875 |
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Loar Holdings Inc.
Table 2: Condensed Consolidated Statements of Income
(Unaudited, amounts in thousands except per common share amounts)
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Three Months Ended March 31, |
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2026 |
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2025 |
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Net sales |
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$ |
156,088 |
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$ |
114,659 |
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Cost of sales |
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76,847 |
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54,953 |
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Gross profit |
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79,241 |
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59,706 |
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Selling, general and administrative expenses |
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44,485 |
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33,102 |
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Transaction expenses |
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1,239 |
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460 |
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Operating income |
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33,517 |
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26,144 |
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Interest expense, net |
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18,710 |
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6,459 |
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Income before income taxes |
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14,807 |
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19,685 |
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Income tax provision |
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(3,664 |
) |
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(4,369 |
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Net income |
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$ |
11,143 |
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$ |
15,316 |
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Net income per common share: |
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Basic |
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$ |
0.12 |
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$ |
0.16 |
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Diluted |
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$ |
0.12 |
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$ |
0.16 |
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Weighted average common shares outstanding: |
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Basic |
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93,623 |
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93,556 |
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Diluted |
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95,651 |
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95,771 |
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Loar Holdings Inc.
Table 3: Condensed Consolidated Statements of Cash Flows
(Unaudited, amounts in thousands)
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Three Months Ended March 31, |
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2026 |
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2025 |
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Operating activities |
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Net income |
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$ |
11,143 |
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$ |
15,316 |
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Adjustments to reconcile net income to net cash provided by operating activities: |
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Depreciation |
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3,252 |
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2,899 |
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Amortization of intangible and other long-term assets |
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15,690 |
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9,560 |
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Amortization of debt issuance costs |
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915 |
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231 |
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Recognition of inventory step-up |
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4,916 |
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— |
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Stock-based compensation |
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4,392 |
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3,089 |
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Deferred income taxes |
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943 |
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669 |
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Non-cash lease expense |
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311 |
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173 |
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Changes in assets and liabilities, net of acquisitions: |
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Accounts receivable |
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(7,370 |
) |
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(7,099 |
) |
Inventories |
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(6,146 |
) |
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(3,534 |
) |
Other assets |
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(1,868 |
) |
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(1,304 |
) |
Accounts payable |
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5,253 |
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1,930 |
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Income taxes (receivable) payable |
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(23 |
) |
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3,561 |
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Accrued expenses and other current liabilities |
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(234 |
) |
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3,032 |
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Operating lease liabilities |
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(259 |
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(163 |
) |
Net cash provided by operating activities |
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30,915 |
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28,360 |
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Investing activities |
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Capital expenditures |
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(4,108 |
) |
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(1,847 |
) |
Payment for acquisitions, net of cash acquired |
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(249,868 |
) |
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— |
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Net cash used in investing activities |
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(253,976 |
) |
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(1,847 |
) |
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Financing activities |
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Net proceeds from issuance of common stock |
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56 |
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— |
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Proceeds from issuance of long-term debt |
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240,000 |
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— |
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Payments of long-term debt |
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(1,713 |
) |
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— |
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Financing costs |
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(4,800 |
) |
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— |
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Payments of finance lease liabilities |
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(69 |
) |
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(55 |
) |
Net cash provided by (used in) financing activities |
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233,474 |
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(55 |
) |
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Effect of translation adjustments on cash and cash equivalents |
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(358 |
) |
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(26 |
) |
Net increase in cash, cash equivalents and restricted cash |
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10,055 |
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26,432 |
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Cash, cash equivalents and restricted cash, beginning of period |
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84,827 |
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54,066 |
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Cash, cash equivalents and restricted cash, end of period |
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$ |
94,882 |
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$ |
80,498 |
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Supplemental information |
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Interest paid during the period, net of capitalized amounts |
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$ |
18,944 |
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$ |
6,476 |
|
Income taxes paid during the period, net |
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$ |
2,634 |
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|
$ |
375 |
|
Loar Holdings Inc.
Table 4: Reconciliation of Net income to EBITDA and Adjusted EBITDA
(Unaudited, amounts in thousands)
|
|
Three Months Ended March 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Net income |
|
$ |
11,143 |
|
|
$ |
15,316 |
|
Adjustments: |
|
|
|
|
|
|
||
Interest expense, net |
|
|
18,710 |
|
|
|
6,459 |
|
Income tax provision |
|
|
3,664 |
|
|
|
4,369 |
|
Operating income |
|
|
33,517 |
|
|
|
26,144 |
|
Depreciation |
|
|
3,252 |
|
|
|
2,899 |
|
Amortization |
|
|
15,690 |
|
|
|
9,560 |
|
EBITDA |
|
|
52,459 |
|
|
|
38,603 |
|
Adjustments: |
|
|
|
|
|
|
||
Recognition of inventory step-up (1) |
|
|
4,916 |
|
|
|
— |
|
Transaction expenses (2) |
|
|
1,239 |
|
|
|
460 |
|
Stock-based compensation (3) |
|
|
4,392 |
|
|
|
3,089 |
|
Acquisition and facility integration costs (4) |
|
|
213 |
|
|
|
981 |
|
Adjusted EBITDA |
|
$ |
63,219 |
|
|
$ |
43,133 |
|
Net sales |
|
$ |
156,088 |
|
|
$ |
114,659 |
|
Net income margin |
|
|
7.1 |
% |
|
|
13.4 |
% |
Adjusted EBITDA Margin |
|
|
40.5 |
% |
|
|
37.6 |
% |
Loar Holdings Inc.
Table 5: Sales by End-Market
(Unaudited, amounts in thousands)
|
|
Three Months Ended March 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Commercial Net Sales |
|
|
|
|
|
|
||
Commercial aerospace OEM |
|
$ |
31,521 |
|
|
$ |
16,064 |
|
Commercial aerospace aftermarket |
|
|
43,515 |
|
|
|
32,403 |
|
Total commercial aerospace |
|
|
75,036 |
|
|
|
48,467 |
|
|
|
|
|
|
|
|
||
Business jet & general aviation OEM |
|
|
19,633 |
|
|
|
19,423 |
|
Business jet & general aviation aftermarket |
|
|
11,066 |
|
|
|
11,435 |
|
Total business jet & general aviation |
|
|
30,699 |
|
|
|
30,858 |
|
|
|
|
|
|
|
|
||
Total commercial OEM |
|
|
51,154 |
|
|
|
35,487 |
|
Total commercial aftermarket |
|
|
54,581 |
|
|
|
43,838 |
|
Total commercial |
|
|
105,735 |
|
|
|
79,325 |
|
|
|
|
|
|
|
|
||
Defense Net Sales |
|
|
|
|
|
|
||
Total defense OEM |
|
|
23,042 |
|
|
|
11,726 |
|
Total defense aftermarket |
|
|
17,607 |
|
|
|
17,056 |
|
Total defense |
|
|
40,649 |
|
|
|
28,782 |
|
|
|
|
|
|
|
|
||
Other Net Sales |
|
|
|
|
|
|
||
Total other OEM |
|
|
4,768 |
|
|
|
2,866 |
|
Total other aftermarket |
|
|
4,936 |
|
|
|
3,686 |
|
Total other |
|
|
9,704 |
|
|
|
6,552 |
|
Net Sales |
|
$ |
156,088 |
|
|
$ |
114,659 |
|
Loar Holdings Inc.
Table 6: Reconciliations of Earnings Per Share to Adjusted Earnings Per Share and Net Income to Adjusted Net Income
(Unaudited, amounts in thousands except per share amounts)
|
|
Three Months Ended March 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Reported earnings per share |
|
|
|
|
|
|
||
Net income |
|
$ |
11,143 |
|
|
$ |
15,316 |
|
Denominator for basic and diluted earnings per common share: |
|
|
|
|
|
|
||
Weighted-average common shares outstanding—basic |
|
|
93,623 |
|
|
|
93,556 |
|
Effect of dilutive common shares |
|
|
2,028 |
|
|
|
2,215 |
|
Weighted average common shares outstanding—diluted |
|
|
95,651 |
|
|
|
95,771 |
|
Net income per common shares—basic |
|
$ |
0.12 |
|
|
$ |
0.16 |
|
Net income per common shares—diluted |
|
$ |
0.12 |
|
|
$ |
0.16 |
|
|
|
|
|
|
|
|
||
Adjusted Earnings Per Share |
|
|
|
|
|
|
||
Net income |
|
$ |
11,143 |
|
|
$ |
15,316 |
|
Gross adjustments to EBITDA |
|
|
10,760 |
|
|
|
4,530 |
|
Amortization of acquired intangible assets (1) |
|
|
15,690 |
|
|
|
9,560 |
|
Tax adjustment (2) |
|
|
(5,334 |
) |
|
|
(2,455 |
) |
Adjusted Net Income |
|
$ |
32,259 |
|
|
$ |
26,951 |
|
Adjusted Earnings Per Share—diluted |
|
$ |
0.34 |
|
|
$ |
0.28 |
|
|
|
|
|
|
|
|
||
Diluted earnings per share to Adjusted Earnings Per Share |
|
|
|
|
|
|
||
Net income per common share—diluted |
|
$ |
0.12 |
|
|
$ |
0.16 |
|
Adjustments to diluted earnings per share: |
|
|
|
|
|
|
||
Recognition of inventory step-up |
|
|
0.05 |
|
|
|
— |
|
Transaction expenses |
|
|
0.01 |
|
|
|
0.01 |
|
Stock-based compensation |
|
|
0.05 |
|
|
|
0.03 |
|
Acquisition and facility integration costs |
|
|
— |
|
|
|
0.01 |
|
Gross adjustments to EBITDA |
|
|
0.11 |
|
|
|
0.05 |
|
Amortization of acquired intangible assets (1) |
|
|
0.16 |
|
|
|
0.10 |
|
Tax adjustment (2) |
|
|
(0.05 |
) |
|
|
(0.03 |
) |
Adjusted Earnings Per Share—diluted |
|
$ |
0.34 |
|
|
$ |
0.28 |
|