Epstein Files Search

EFTA01462482Set 10

2014-02-0460p8,663w

highlight a recovery in surgical trends, which boosted pricing/mix and helped drive solid Q4 EBITDA growth (+6.7% YoY) despite weaker inpt medical trends and a tough vol comp. HCA provided ... given how fluid the roll-out is. For 2014, ACA initially guided —$100M (+1.5%) EBITDA benefit underpinned by 7%-9% reduction in uninsured and slight offset by pricing/vol impact ... exchange mix. Given strong organic growth trends in recent Qs, we believe 2014 EBITDA guidance should prove conservative. Q4 CC takeaways (results review in body of note) '(1) Volume/pricing metrics

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01462482.pdf

EFTA02029821Set 10

2020-10-1524p12,977w

despite acquiring Eric.J.Selle@ipmorgan.com controlling stakes in two of its JVs) via EBITDA growth, stock issuance, asset sales and free cash flow generation. Yao Li • Despite guiding to a 2% decline ... sales, Dana expects FY13 EBITDA to grow 1.212-270-9455 Yao.L.i@ipinorgan.com 3% and free cash flow to total $250mm. Why This Pick Should Outperform: J.P. Morgan Securities LLC • Credit Improvement ... project Dana will generate FY13 EBITDA of $808mm, milking in coverage of 11.5x, leverage of 1.1x and net leverage of negative 0.5x. We note that the gross

https://www.justice.gov/epstein/files/DataSet%2010/EFTA02029821.pdf

EFTA01077699Set 9

53p10,450w

create a leading player in the niche APIs sector with sales and EBITDA in excess of E100m and E20m respectively (the "Combined Company"). The transaction is subject to regulatory approvals ... pipeline (antineoplastics at Farmabios, UDCA at PharmaZell) With sales of €100 m plus and EBITDA of €20 m plus Farmabios-PharmaZell is a significant player in the European API market ... Leonardo & Ca September 2011 EFTA01077719 Combined case financials Management Case - PZ 4" FB combined EBITDA evolution Combined EBITDA / EBITDA-margin evolution EBITDA (in EURm) EBITDA•margin

https://www.justice.gov/epstein/files/DataSet%209/EFTA01077699.pdf

EFTA00606159Set 9

2012-02-1660p18,196w

GenOn and then NRG. Surprisingly, as a J.V. Mogan Securities LLC percentage of LTM EBITDA, TCEH is not as exposed as some other credits. • We estimate the impact on future ... measured by the revenue effect of a $25/MW-day price change divided by LTM EBITDA) is GEN (13%). GEN is followed ... model in advance of earnings. We estimate that the company generated $384 million of EBITDA in 4Q11. We expect NRG will address the lower natural gas price environment

https://www.justice.gov/epstein/files/DataSet%209/EFTA00606159.pdf

EFTA01409918Set 10

2015-06-15488p120,945w

substitute for analysis of our results as reported under GAAP. Adjusted EBITDA is defined as net income before interest, taxes and depreciation and amortization plus the sum of certain operating ... retention agreement costs, IPO related costs, and other non-cash or similar adjustments. Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of revenue. By monitoring and controlling our Adjusted ... EBITDA and Adjusted EBITDA margin, we can gauge the overall profitability of our company. Adjusted EBITDA as presented in this prospectus is a supplemental measure of our performance that

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01409918.pdf

EFTA01925070Set 10

2014-04-0314p5,119w

from 4.3x to 3.4x • Revenues fell slightly from $496m to $449m • However EBITDA margins rose from 27% to 33% * Concurrently AIQ shares rose from $7.50 to $24.74 • Looking ... into 2014 based on AIQs revenue, ebitda Et debt reduction guidance; • Revenue is expected to remain stable as are ebitda margins * However debt to expected to drop further to $463m ... re64nue 496 449 4:79 475 412 455 452 449 450 80 111 ebitda 136 139 143 143 140 137 131 147 ISO ISO Ma/0M

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01925070.pdf

EFTA01414378Set 10

143p21,289w

acquire Hostess Brands at an enterprise value of $2,292mm, representing 10.4x 2016E EBITDA of $220 million announced the signing of a definitive merger agreement, whereby GRSH will acquire ... proceeds will be used to de- lever the company to 4.5x 2016E EBITDA to be in-line with comps Long-term sponsorship from premier investors Sources & Uses ($ mm) Sources ... Hostess and restructured the brand, leading to re-launch in 02 2014 Projected FY2016E EBITDA of $220mm and FY2017E EBITDA of $235mm, with continued meaningful top-line growth Industry-leading

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01414378.pdf

EFTA00370569Set 9

2014-04-228p4,822w

from 4.3x to 3.4x * Revenues fell slightly from $496m to $449m * However EBITDA margins rose from 27% to 33% * Concurrently AIQ shares rose from $7.50 to $24.74 * Looking ... into 2014 based on AIQ's revenue, ebitda a debt reduction guidance; * Revenue is expected to remain stable as are ebitda margins * However debt to expected to drop further ... that the Company maintain a maximum ratio of consolidated total debt to consolidated Adjusted EBITDA as defined below less minority interest expense of 5.00 to 1.00 through September

https://www.justice.gov/epstein/files/DataSet%209/EFTA00370569.pdf

EFTA00370578Set 9

2014-04-229p4,858w

from 4.3x to 3.4x * Revenues fell slightly from $496m to $449m * However EBITDA margins rose from 27% to 33% * Concurrently AIQ shares rose from $7.50 to $24.74 * Looking ... into 2014 based on AIQ's revenue, ebitda a debt reduction guidance; * Revenue is expected to remain stable as are ebitda margins * However debt to expected to drop further ... that the Company maintain a maximum ratio of consolidated total debt to consolidated Adjusted EBITDA as defined below less minority interest expense of 5.00 to 1.00 through September

https://www.justice.gov/epstein/files/DataSet%209/EFTA00370578.pdf

EFTA00370590Set 9

2014-04-229p4,881w

from 4.3x to 3.4x * Revenues fell slightly from $496m to $449m * However EBITDA margins rose from 27% to 33% * Concurrently AIQ shares rose from $7.50 to $24.74 * Looking ... into 2014 based on AIQ's revenue, ebitda a debt reduction guidance; * Revenue is expected to remain stable as are ebitda margins * However debt to expected to drop further ... that the Company maintain a maximum ratio of consolidated total debt to consolidated Adjusted EBITDA as defined below less minority interest expense of 5.00 to 1.00 through September

https://www.justice.gov/epstein/files/DataSet%209/EFTA00370590.pdf

EFTA02107841Set 10

2014-04-0316p4,826w

from 4.3x to 3.4x ' Revenues fell slightly from $496m to $449m * However EBITDA margins rose from 27% to 33% • Concurrently AIQ shares rose from $7.50 to $24.74 * Looking ... into 2014 based on AIQs revenue, ebitda Et debt reduction guidance; ' Revenue is expected to remain stable as are ebitda margins • However debt to expected to drop further to $463m ... that the Company maintain a maximum ratio of consolidated total debt to consolidated Adjusted EBITDA, as defined below, less minority interest expense of 5.00 to 1.00 through September

https://www.justice.gov/epstein/files/DataSet%2010/EFTA02107841.pdf

EFTA01432866Set 10

2018-07-01106p17,893w

discount to the European sector and its international peers. 0% IIKey drivers: — Strong organic EBITDA growth and debt pay down (c28ppts). EBITDA growth could fuel 10% pa EPS growth, while ... cake and eat it (Gallagher) Deutsche Bank Research: European Equity Focus — January 2018 10% EBITDA (operational) growth Assoc. and mins. Incremental EPS at higher P/E multiple Source: Deutsche Bank estimates ... assumes 10% EPS growth Operational drivers are key— we see substantial EBITDA growth to come 10 12 14 16 0 2 4 6 8 FY17 FY18 Source: Deutsche Bank estimates

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01432866.pdf

EFTA01427451Set 10

2015-06-10369p97,683w

income per common share (2) Adjusted diluted net income per common share (2) EBITDA (3) Adjusted EBITDA (3) Depreciation and amortization Capital expenditures ... primarily related to the litigation with Nestle Purina PetCare Company. See "Business—Legal Proceedings." EBITDA represents net income plus interest expense, less interest income and plus provision for income taxes ... depreciation and amortization. Adjusted EBITDA represents EBITDA plus loss on extinguishment of debt, stock-based compensation and nonrecurring and one-time items (comprising initial public offering preparation costs and litigation

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01427451.pdf

EFTA01104713Set 9

2013-07-2516p10,274w

based on the Bloomberg JPMA ANMUTH average of our DCF analysis ($48), 15x 2015E EBITDA ($45), and 30x 2015E non- Kalzad Gotta, CFA GAAP EPS ($38). We reiterate our Overweight ... from games was up 11% VA' when adjusted for revenue recognition timing in 2012. EBITDA and PF EPS of $1.08 and $0.19 also beat our/consensus estimates of $783M ... Equity Research 25 July 2013 J.P.Morgan Summary of the Quarter Facebook reported 2Q revenue, EBITDA, and PF EPS of $1.81B, $1.02B, and $0.19, compared to our estimates

https://www.justice.gov/epstein/files/DataSet%209/EFTA01104713.pdf

EFTA00596787Set 9

2014-11-2629p8,549w

DRAFT - 11/26/14 Subject to Change Upon Receipt of Additional Information EXHIBIT A-4 ADJUSTED EBITDA ANALYSIS PHAIDON PRESS LIMITED FOR THE YEARS ENDED DECEMBER ... Plus: Depreciation 329 351 326 176 196 389 408 400 Reported EBITDA 651 1.248 1,396 (1,672) (993) (909) 673 2,184 Ad ustments: (Profit)/Loss on Disposal ... Total Adjustments 947 1.058 1.551 1.071 (1.219) 0 0 0 Adjusted EBITDA 1,598 2.306 2,947 (601) (2,212) (909) 673 2,184 Note: Revenue Growth

https://www.justice.gov/epstein/files/DataSet%209/EFTA00596787.pdf

EFTA01103701Set 9

2014-11-0389p57,380w

line with expectations and suggests continued strong trends despite FX. We note that the EBITDA outlook ($715M-765M) was softer than Bloomberg JPMA ANMUTH our/consensus $851M/$865M, driven by advertising ... overdone and recommend buying the pullback in J.P. Morgan Secuntee LLC share& Our EBITDA estimate goes down 3.5% in 2015 and comes ... 4Q14. ADRs grew +2% — PCLN slut* iwIce if) SILP500 (ramem WY ex-FX. IQ EBITDA of $532M (32% margin on gross profit) was 3.4% ahead

https://www.justice.gov/epstein/files/DataSet%209/EFTA01103701.pdf

EFTA00613223Set 9

2017-02-28143p82,733w

SUBJECT TO COMPLETION, DATED FEBRUARY 28, 2017 4.6 PRELIMINARY PROSPECTUS SUPPLEMENT (To Prospectus dated May

https://www.justice.gov/epstein/files/DataSet%209/EFTA00613223.pdf

EFTA00614243Set 9

51p15,220w

time to time. "Additional Capital Contribution" shall have the meaning provided in Section "Adjusted EBITDA" shall have the meaning given to such term in the Master Restaurant Purchase Agreement. "Advisor ... Amount" shall mean the positive difference (if any) between (A) the Initial Restaurant Adjusted EBITDA Amount and (B) the Applicable Restaurant Value as of the Cut-Off Date. "Annual Business ... Initial Restaurant Value (ii) the Stand Alone Restaurant EBITDA Amount and (iii) the amount of any reductions to the Initial Restaurant Value and/or the Stand Alone Restaurant EBITDA Amount

https://www.justice.gov/epstein/files/DataSet%209/EFTA00614243.pdf

EFTA00594729Set 9

2015-06-08214p112,383w

loss was $4.8 million and $7.9 million, respectively. Our Adjusted EBITDA was negative $2.5 million, negative $11.5 million and negative $18.8 million for 2012, 2013 and 2014, respectively ... three months ended March 31, 2014 and 2015, our Adjusted EBITDA was negative $3.8 million and negative $5.3 million, respectively. For a reconciliation of Adjusted EBITDA to net loss, please ... annual period being measured. Non-GAAP Financial Measure Adjusted EBITDA To provide investors with additional information regarding our financial results prepared in accordance with U.S. generally accepted accounting principles

https://www.justice.gov/epstein/files/DataSet%209/EFTA00594729.pdf

EFTA01104689Set 9

2013-09-1220p12,387w

based on the average of our DCF analysis ($56), 17x 2015E EBITDA ($56), and 33x 2015 non-CAAP EPS ($47). Facebook Inc. (FB;FB US) FYE Dec 2012A 2013E 2013E ... based on the average of our DCF analysis ($56), 17x 2015E EBITDA ($56), and 33x 2015 non- GAAP EPS ($47). 2 EFTA01104690 Dou Anmuth North America Equity Research 12 September ... J.P.Morgan Adjusting Estimates Overall: We am raising our overall Facebook revenue, EBITDA, and EPS estimates as we are increasingly optimistic on Facebook's ability to monetize the News Feed, particularly

https://www.justice.gov/epstein/files/DataSet%209/EFTA01104689.pdf