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| AVSR.PK > SEC Filings for AVSR.PK > Form 8-K on 31-Jan-2012 | All Recent SEC Filings |
31-Jan-2012
Results of Operations and Financial Condition, Financial Statements a
On January 26, 2012, Avistar Communications Corporation ("Avistar") issued a press release discussing its financial performance for the fourth quarter and the fiscal year ended December 31, 2011. A copy of the press release is attached hereto as Exhibit 99.1.
The attached press release includes a discussion of "adjusted EBITDA", a non-GAAP financial measure that Avistar defines as earnings before net interest, income taxes, depreciation, and amortization, as further adjusted for stock-based compensation. Avistar believe adjusted EBITDA is relevant and useful information to its investors as this measure is an integral part of Avistar's internal management reporting and planning process and is a primary measure used by Avistar management to evaluate the operating performance of Avistar's business. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. In addition, Avistar's definition of adjusted EBITDA may not be comparable to the definitions as reported by other companies. A reconciliation of this non-GAAP measure to GAAP can be found following the text of the press release.
The information in this Form 8-K and the exhibit attached hereto 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 it 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.
(d) Exhibits
Exhibit No. Description
99.1 Press Release of Avistar Communications Corporation dated January 26, 2012.
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