At 04:50 PM 06-07-02 +0100, Stephen J. Wilcox wrote:
>.. which is why I think people (especially US altho it seems to be coming more >the normal in other markets) use EBITDA as it smooths out the bumps even >tho the >bumps are still there! > >The other nice thing in the telecoms world about EBITDA is the 'D' which seems >to work quite well at hiding losses caused by falling fibre/bandwidth prices! From Barrons: EBITDA = Earnings Before I Tricked the Dumb Auditor -Hank >Steve