Lifetime Brands, Inc. Announces Launch of an Amendment and Extension of the Company's Existing Term Loan B and Preliminary Results for Third Quarter 2023 - Seite 2

⁽¹⁾ The Company has not provided guidance for a comparable GAAP measure or a quantitative reconciliation of Adjusted EBITDA to the most directly comparable GAAP measure because it is unable to determine with reasonable certainty the ultimate outcome of certain significant items necessary to calculate such measure without unreasonable effort. These items include, but are not limited to, final calculation of undistributed equity loss (gain) from its equity method investment and income tax provision (benefit). Notwithstanding this limitation, as noted above, the Company estimates Adjusted EBITDA for the trailing twelve months ended September 30, 2023 of $55.5 million. These items are uncertain, depend on various factors, and could have a material impact on the GAAP reported results for the period.

Non-GAAP Financial Measures

This earnings release contains non-GAAP financial measures, including adjusted EBITDA. A non-GAAP financial measure is a numerical measure of a company’s historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income, balance sheets, or statements of cash flows of a company; or, includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. These non-GAAP financial measures are provided because the Company's management uses these financial measures in evaluating the Company’s on-going financial results and trends, and management believes that exclusion of certain items allows for more accurate period-to-period comparison of the Company’s operating performance by investors and analysts. Management uses these non-GAAP financial measures as indicators of business performance. These non-GAAP financial measures should be viewed as a supplement to, and not a substitute for, GAAP financial measures of performance.