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Bruce,

Yeah, that's right. Earnings Before Interest Taxes, Depreciation, and Amortization. I was focusing on how to calculate it without paying enough attention to the actual acronym. That's what happens when I post things in too much of a hurry.

Sorry for the confusion there.

So, to clarify what I said earlier, to find EBITDA, you take Earnings and add back Interest, Taxes, Depreciation and Amortization.

For that matter, EBIT (Earnings Before Interest and Taxes) would be Earnings plus Interest and Taxes.

Bob
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