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PLPM > SEC Filings for PLPM > Form 8-K on 18-Mar-2013All Recent SEC Filings

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Form 8-K for PLANET PAYMENT INC


18-Mar-2013

Results of Operations and Financial Condition, Financial Statements and Exhibi


Item 2.02 Results of Operations and Financial Condition.

The information in this report and the exhibit attached hereto are being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing with the Securities and Exchange Commission under the Securities Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference to such filing.

On March 18, 2013, Planet Payment, Inc. (the "Company") issued a press release announcing its financial results for the quarter and year ended December 31, 2012 and certain other information. The press release is attached to this report as Exhibit 99.01.

In the press release and during a conference call and webcast regarding the Company's quarterly results, the Company supplemented its reported GAAP financial information with non-GAAP measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for results prepared in accordance with GAAP and should be read in conjunction with the Company's GAAP financial information. The Company's management believes that Adjusted EBITDA, when viewed with the Company's results under GAAP and the accompanying reconciliations, provides useful information about the Company's period-over-period results. Adjusted EBITDA is presented because the Company's management believes it provides additional information with respect to the performance of the Company's fundamental business activities. The Company relies on Adjusted EBITDA as a primary measure to review and assess the operating performance of the Company and the Company's management team in connection with executive compensation.

These non-GAAP measures may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. The Company believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with its results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate the Company's results of operations in conjunction with the corresponding GAAP measures. Reconciliation to the nearest GAAP financial measures of the non-GAAP financial measures is included in the press release attached to this report as Exhibit 99.01.



Item 9.01 Financial Statements and Exhibits.

(d)                 Exhibits.



Exhibit No.              Exhibit Title

99.01         Press release dated March 18, 2013.


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