Reconciliation of Diluted EPS under GAAP to Adjusted
Diluted EPS for First Quarter 2006

 

Adjusted diluted EPS refers to diluted EPS net of non-recurring items and items previously excluded from guidance.  Allion considers adjusted diluted EPS excluding non-recurring items a good indication of the company’s current earnings position and allows for an appropriate comparison to previously provided guidance.  Adjusted diluted EPS is not a measurement of financial performance under GAAP and should not be considered a substitute for diluted EPS as a measure of performance.  A reconciliation of diluted EPS under GAAP to adjusted diluted EPS excluding other income for the three months ended March 31, 2006 is as follows:

 

 

Three Months Ended March 31, 2006

 

 

GAAP diluted earnings per common share

$    0.07

 

 

Diluted weighted average of common shares outstanding

16,648,743

 

 

Net Income

$  1,133,021

     Add: Provision for taxes (1)

131,698

Income from continuing operations before tax

1,264,719

 

 

     Subtract: Revenue relating to retroactive premium reimbursement

858,457

     Add: 2005 Sarbanes Oxley 404 compliance expense

173,000

     Add: Employee vacation accruals

116,000

Total Adjustments

(569,457)

Adjusted income from continuing operations before tax

695,262

      Subtract: Provision for taxes (2)

278,105

Adjusted Net Income

417,157

 

 

Adjusted diluted earnings per share

$    0.03

 

 

 

(1)     Actual reported taxes which include benefits of NOLs.

(2)     Calculated based on 40% tax rate, consistent with tax rate used for previous guidance.

 

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