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Exam Code: 299-01 Practice test 2022 by Killexams.com team
299-01 Riverbed Certified Solutions Professional - Visibility

Exam Title : Riverbed Certified Solutions Professional - Network Performance Management
Exam ID : 299-01
Exam Duration : 90 mins
Questions in test : 45
Passing Score : 60%
Official Training : NPM200 Performance Monitoring Essentials
Exam Center : Pearson VUE
Real Questions : Riverbed RCSP-NPM Real Questions
VCE practice questions : Riverbed 299-01 Certification VCE Practice Test

Subject Area
Approximate Number of Questions from this area
NetProfiler 26
Packet Analyzer 7
NetShark 7
Portal 5
TOTAL QUESTIONS 45

Riverbed Certified Solutions Professional - Visibility
Riverbed Professional test prep
Killexams : Riverbed Professional test prep - BingNews https://killexams.com/pass4sure/exam-detail/299-01 Search results Killexams : Riverbed Professional test prep - BingNews https://killexams.com/pass4sure/exam-detail/299-01 https://killexams.com/exam_list/Riverbed Killexams : 20% rise in pass percentage due to combined passing formula No result found, try new keyword!At the same time due to the lack of writing practice in the last two years, in some of the subject’s students have scored poorly in the exams ... Fri, 05 Aug 2022 07:18:46 -0500 en-in text/html https://www.msn.com/en-in/news/other/20-25-rise-in-pass-percentage-due-to-combined-passing-formula/ar-AA10m39u Killexams : Be the first to know

ALBUQUERQUE, N.M. (AP) — On a recent, scorching afternoon in Albuquerque, off-road vehicles cruised up and down a stretch of dry riverbed where normally the Rio Grande flows. The drivers weren't thrill-seekers, but biologists hoping to save as many endangered fish as they could before the sun turned shrinking pools of water into dust.

For the first time in four decades, America's fifth-longest river went dry in Albuquerque last week. Habitat for the endangered Rio Grande silvery minnow — a shimmery, pinky-sized native fish — went with it. Although summer storms have made the river wet again, experts warn the drying this far north is a sign of an increasingly fragile water supply, and that current conservation measures may not be enough to save the minnow and still provide water to nearby farms, backyards and parks.

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The minnow inhabits only about 7% of its historic range and has withstood a century of habitat loss as the nearly 1,900 mile-long (3,058-kilometer) river was dammed, diverted and channeled from Colorado to New Mexico, Texas and northern Mexico. In 1994, the U.S. government listed it as endangered. Scientists, water managers and environmental groups have worked to keep the fish alive — as required by the Endangered Species Act — but the efforts haven't kept pace with demand for water and climate change.

Years of drought, scorching temperatures and an unpredictable monsoon season are zapping what's left of its habitat, leaving officials with little recourse but to hope for rain.

“They're adapted for a lot of conditions but not to figure this out,” said Thomas Archdeacon, a U.S. Fish and Wildlife Service biologist in charge of a program to rescue the fish. “When you have flow one day and no flow the next for miles, they don’t know how to get out of that.”

When parts of the river dry out, officials use hand nets and seines to pull fish from warm puddles and relocate them to still-flowing sections of the river. The minnow's survival rate after being rescued is slim — just over 5% — due to the stress of warm, stagnant water and being forcibly relocated.

Still, leaving the fish in the pools is a certain death sentence, said Archdeacon. He and the other biologists drove over miles of dried riverbed to where the water picked up again — at the outflow of a sewage treatment plant. Only a handful of the 400 rescued fish would survive, with their best chance swimming through treated sewage.

Over the years, the government has bred and released large numbers of silvery minnows, but for the species to recover, it always comes down to habitat, officials say.

And few options remain to get significantly more water into the river.

“Climate change is coming at us so fast right now that it’s outstripping those tools that we developed over the last few decades,” said John Fleck, a water policy researcher at the University of New Mexico.

Historically, one way to send more water into the river has been to release it from upstream reservoirs. But this year, New Mexico has been unable to store extra water because of a downstream debt it owes Texas as part of a compact. Deep into the driest period the West has seen in 1,200 years, the river wasn't replenished by rainstorms that came in June.

“The timing and the placement of the storms weren't in the right place to keep the river flowing,” said Dave Dubois, New Mexico's state climatologist.

To keep more water in the Rio Grande, the state and irrigation districts are offering to pay farmers to leave fields unplanted, but so far, few have opted in. In New Mexico, small-scale farming is the norm and many farmers water their fields with centuries-old earthen canals that run through their backyards, maintaining the land for cultural reasons, too.

By fallowing their fields, farmers would help save water for the minnow and alleviate the debt to Texas. But officials say that in one key district on the river, only 5% of land was left fallow this year.

“We need more people to do it,” said Jason Casuga, chief engineer for the Middle Rio Grande Conservancy District. But the program is just in its second year, and farmers want to grow crops, Casuga said.

For the past four years, Ron Moya has farmed about 50 acres (20 hectares) of hay and produce near Albuquerque. A retired engineer, Moya said he answered a calling to work the same land that generations of his family had cultivated before him. Last year, Moya left 10 acres (4 hectares) of his plot unplanted in exchange for several thousand dollars, but said he wouldn’t do it this year — even though he was offered more money — because he wanted the moisture to keep the soil on his farm alive. Moya is skeptical that fallowing alone will achieve much.

“There’s people whose livelihood depends on growing their hay. That’s what they know. Can you imagine the whole valley being fallowed? That just seems silly,” he said.

Nor is there much water to squeeze out of New Mexico's biggest city, Albuquerque. Like other Western metropoles, the city of roughly 563,000 has dramatically cut its per-capita water use, from about 250 gallons (946 liters) per day in 1994 to to 119 gallons (450 liters) in 2019, according to data provided by the city's water utility. Albuquerque also uses groundwater and water from the Colorado River.

According to Mike Hamman, New Mexico's state water engineer, “the low hanging fruit has already been picked in Albuquerque, so now it gets a little harder."

The Associated Press receives support from the Walton Family Foundation for coverage of water and environmental policy. The AP is solely responsible for all content. For all of AP’s environmental coverage, visit https://apnews.com/hub/climate-and-environment

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Wed, 03 Aug 2022 05:23:00 -0500 en text/html https://omaha.com/news/national/a-race-to-save-fish-as-rio-grande-dries-even-in-albuquerque/article_00f8c828-391b-57ad-b52b-fa81e3824f0c.html
Killexams : $2,245.62 a second: Enormous profit for oil companies on record gas prices

ExxonMobil and Chevron both reported record massive profits thanks to record gasoline prices during the quarter. 

Exxon's profit, excluding special items, came to $17.6 billion in the second quarter, nearly double what it made in its very profitable first quarter as oil and gas prices started to soar in the wake of Russia's invasion of Ukraine. Second-quarter profit was up 273% from the same period a year ago.

Chevron earned $11.4 billion excluding special items, up 74% from the first quarter and 247% from a year ago.

Including one-time items, both earned hundreds of millions more: ExxonMobil's net income reached $17.9 billion, while Chevron brought in $11.6 billion.

ExxonMobil's net income came to $2,245.62 every second of every day of the 92-day long quarter. On that basis, Chevron earned $1,462.11 per second.

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Since it takes about two minutes to pump 20 gallons of gas, that means between them the two oil giants earned more than $400,000 between them in the time it took you to fill your tank.

Reuters reported that this was a record profit for both companies — though neither mentioned that in their statement, as companies typically do when their earnings reach all-time highs.

Oil prices have started to fall recently, and gas prices are falling along with them. AAA puts the average gas price Friday at $4.26 a gallon. That's down 76 cents a gallon, or 15%, from the record of $5.02 a gallon reached on June 14.

FILE - High gas prices are shown as a pedestrian waits to cross the street in Los Angeles, June 16, 2022. Oil companies were swimming in record profits the last few months. They were benefiting from high energy costs at a time when Americans struggled to pay for gasoline, food and other basic necessities. 

But one of the major reasons for that decline is growing fears among investors trading in oil and gasoline futures that the nation is hurdling toward recession. And if it is, a major reason is that the Federal Reserve is hiking interest rates at a historically fast pace in an effort to bring inflation under control. And high gas prices is a major driver of those price increases.

The US economy has shrunk in size each of the last two quarters, which is a popular shorthand for a recession. Although economists are debating whether or not the economy is already in a recession, or if one lies ahead, many consumers feel like we're already in an economic downturn. High gas prices are one of the reasons they feel that way.

Shares of ExxonMobil and Chevron both rose in premarket trading on the better-than-expected earnings. ExxonMobil shares are up more than 50% this year through Thursday's close, while Chevron shares have gained more than 30%, making them among the best performers in the Dow Jones industrial average.

The-CNN-Wire

™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

Thu, 28 Jul 2022 21:55:00 -0500 en text/html https://richmond.com/business/2-245-62-a-second-enormous-profit-for-oil-companies-on-record-gas-prices/article_ef489bfd-0143-5518-97bf-fbcb669b3f73.html
Killexams : Hillman Reports Second Quarter 2022 Results

The Hillman Group

CINCINNATI, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. (Nasdaq: HLMN) (the “Company” or “Hillman”), a leading provider of hardware products and merchandising solutions, reported financial results for the thirteen and twenty-six weeks ended June 25, 2022.

Second Quarter 2022 Highlights (Thirteen Weeks Ended June 25, 2022)

Second Quarter YTD 2022 Highlights (Twenty-Six Weeks Ended June 25, 2022)

“Our second quarter results reflect the success of our multiple pricing initiatives over the past 15 months and the relentless efforts of our 1,100 associates to keep the shelves stocked at our customers' 42,000 locations,” commented Doug Cahill, chairman, president and chief executive officer of Hillman. “While volumes were light compared to the surge in activity during the prior year quarter coming out of COVID, we continued to execute averaging fill rates of nearly 97% for the quarter, up from 90% a year ago.”

“Currently, there are many factors influencing the economy, including labor shortages, supply chain constraints, and elevated retail inventories amid overall lighter foot traffic at stores. The Hillman moat helps solve these issues for our customers making us especially resilient through all economic cycles. Our service model ships direct to stores, reducing shipping delays, costs, and inventories for customers; our field sales and service team manages the aisle for our customers, which helps alleviate their concerns around labor; and we own 90% of our brands allowing us to tailor our products quickly to meet the changing needs of our retailers and end consumers.

“While we have tempered our full year expectations to account for softness in sales volume, our business remains on solid footing. We estimated that over 90% of our sales are driven by repair, remodel and maintenance activity, which remains robust and not highly sensitive to mortgage rates or dependent on new housing construction. Lead times have come down considerably since the beginning of the year and we expect our price increases to offset increased costs for the full year 2022 on a dollar-for-dollar basis. These factors combined with our competitive moat situate us for further success with customers throughout the remainder of the year and into the future.”

Balance Sheet and Liquidity at Quarter-End

Full Year 2022 Guidance - Update

Based on year-to-date performance and improved visibility on the remainder of the year, management is providing additional information on its full year 2022 guidance originally provided on March 2, 2022 with Hillman's fourth quarter 2021 results.

Second Quarter 2022 Results Presentation

Hillman plans to host a conference call and webcast presentation today, August 3, 2022, at 8:30 a.m. Eastern Time to discuss its results. Chairman, President, and Chief Executive Officer Doug Cahill and Chief Financial Officer Rocky Kraft will host the results presentation.

Date: August 3, 2022

Time: 8:30 am Eastern Time

Listen-only Webcast: https://edge.media-server.com/mmc/p/3awwmvtv

A webcast replay will be available approximately one hour after the conclusion of the call using the link above.

Hillman’s earnings release, quarterly presentation, and Form 10-Q were filed with the SEC and are accessible on its Investor Relations website, https://ir.hillmangroup.com.

1) Adjusted EBITDA, Adjusted Diluted EPS, Net Debt, and Free Cash Flow are non-GAAP financial measures. Refer to the "Reconciliation of Adjusted EBITDA”, "Reconciliation of Adjusted Earnings per Share", "Reconciliation of Net Debt" and "Reconciliation of Free Cash Flow" sections of this press release for additional information as well as reconciliations between the company’s GAAP and non-GAAP financial results.

About Hillman Solutions Corp.

Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman Solutions Corp. (“Hillman”) and its subsidiaries are leading North American providers of complete hardware solutions, delivered with outstanding customer service to over 40,000 locations. Hillman designs innovative product and merchandising solutions for complex categories that deliver an outstanding customer experience to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & industrial customers. Leveraging its leading distribution and sales network, Hillman delivers a “small business” experience with “big business” efficiency. For more information on Hillman, visit www.hillmangroup.com.

Forward-Looking Statements

This communication contains certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements, which are not historical facts and are subject to numerous assumptions, risks, and uncertainties. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. All forward-looking statements are made in good faith by the company and are intended to qualify for the safe harbor from liability established by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.You should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," “target”, “goal”, "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the genuine results to differ materially from the expected results. Most of these factors are outside the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) unfavorable economic conditions that may affect operations, financial condition and cash flows including spending on home renovation or construction projects, inflation, recessions, instability in the financial markets or credit markets; (2) increased supply chain costs, including raw materials, sourcing, transportation and energy; (3) the highly competitive nature of the markets that we serve (4) ability to continue to innovate with new products and services; (5) seasonality; (6) large customer concentration; (7) ability to recruit and retain qualified employees; (8) the outcome of any legal proceedings that may be instituted against the Company (9) adverse changes in currency exchange rates; (10) the impact of COVID-19 on the Company’s business; or (11) regulatory changes and potential legislation that could adversely impact financial results. The foregoing list of factors is not exclusive, and readers should also refer to those risks that are included in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Annual Report on Form 10-K filed on March 16, 2022. Given these uncertainties, current or prospective investors are cautioned not to place undue reliance on any such forward looking statements.

Except as required by applicable law, the Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this communication to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Contact:

Michael Koehler
Vice President of Investor Relations & Treasury
513-826-5495
IR@hillmangroup.com

HILLMAN SOLUTIONS CORP.
Condensed Consolidated Statement of Net Income, GAAP Basis
(dollars in thousands)
Unaudited

Thirteen Weeks
Ended

June 25, 2022

Thirteen Weeks
Ended

June 26, 2021

Twenty-six
Weeks Ended

June 25, 2022

Twenty-six
Weeks Ended

June 26, 2021

Net sales

$

394,114

$

375,715

$

757,127

$

716,996

Cost of sales (exclusive of depreciation and amortization shown separately below)

220,146

215,967

433,419

417,265

Selling, general and administrative expenses

118,229

111,662

232,767

214,841

Depreciation

14,172

15,270

27,426

31,611

Amortization

15,566

15,414

31,087

30,323

Management fees to related party

88

214

Other (income) expense, net

(1,772

)

(2,195

)

(4,194

)

(2,547

)

Income (loss) from operations

27,773

19,509

36,622

25,289

Interest expense, net

12,533

19,159

24,161

38,178

Interest expense on junior subordinated debentures

3,152

6,304

(Gain) loss on mark-to-market adjustments

(751

)

(1,424

)

Investment income on trust common securities

(94

)

(189

)

Income (loss) before income taxes

15,240

(1,957

)

12,461

(17,580

)

Income tax provision (benefit)

6,424

1,428

5,532

(5,225

)

Net income (loss)

$

8,816

$

(3,385

)

$

6,929

$

(12,355

)

Basic income (loss) per share

$

0.05

$

(0.04

)

$

0.04

$

(0.14

)

Weighted average basic shares outstanding

194,135

91,217

194,071

91,266

Diluted income (loss) per share

$

0.04

$

(0.04

)

$

0.04

$

(0.14

)

Weighted average diluted shares outstanding

196,686

91,217

195,932

91,266

HILLMAN SOLUTIONS CORP.
Condensed Consolidated Balance Sheets
(dollars in thousands)
Unaudited

June 25,
2022

December 25,
2021

ASSETS

Current assets:

Cash and cash equivalents

$

17,723

$

14,605

Accounts receivable, net of allowances of $2,579 ($2,891 - 2021)

132,846

107,212

Inventories, net

574,848

533,530

Other current assets

18,761

12,962

 Total current assets

744,178

668,309

Property and equipment, net of accumulated depreciation of $309,464 ($284,069 - 2021)

176,824

174,312

Goodwill

825,070

825,371

Other intangibles, net of accumulated amortization of $383,715 ($352,695 - 2021)

765,888

794,700

Operating lease right of use assets

77,925

82,269

Deferred tax assets

1,323

Other assets

26,414

16,638

 Total assets

$

2,616,299

$

2,562,922

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$

187,527

$

186,126

Current portion of debt and finance lease liabilities

11,860

11,404

Current portion of operating lease liabilities

12,777

13,088

Accrued expenses:

Salaries and wages

11,076

8,606

Pricing allowances

8,815

10,672

Income and other taxes

4,782

4,829

Interest

1,562

1,519

Other accrued liabilities

44,335

41,052

 Total current liabilities

282,734

277,296

Long-term debt

929,246

906,531

Deferred tax liabilities

145,394

137,764

Operating lease liabilities

70,741

74,476

Other non-current liabilities

11,096

16,760

 Total liabilities

$

1,439,211

$

1,412,827

Commitments and contingencies

Stockholders' equity:

Common stock, $0.0001 par, 500,000,000 shares authorized, 194,359,084 issued and
194,270,779 outstanding at June 25, 2022 and 194,083,625 issued and 193,995,320
outstanding at December 25, 2021

20

20

Additional paid-in capital

1,396,863

1,387,410

Accumulated deficit

(203,252

)

(210,181

)

Accumulated other comprehensive income (loss)

(16,543

)

(27,154

)

 Total stockholders' equity

1,177,088

1,150,095

 Total liabilities and stockholders' equity

$

2,616,299

$

2,562,922

HILLMAN SOLUTIONS CORP.
Condensed Consolidated Statement of Cash Flows
(dollars in thousands)
Unaudited

Twenty-six
Weeks Ended

June 25, 2022

Twenty-six
Weeks Ended

June 26, 2021

Cash flows from operating activities:

Net income (loss)

$

6,929

$

(12,355

)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization

58,513

61,934

Deferred income taxes

8,230

(4,709

)

Deferred financing and original issue discount amortization

2,598

1,800

Stock-based compensation expense

8,304

3,537

Change in fair value of contingent consideration

(3,646

)

(1,212

)

Other non-cash interest and change in fair value of interest rate swap

(1,424

)

Changes in operating items:

Accounts receivable, net

(25,163

)

(23,547

)

Inventories, net

(42,973

)

(73,049

)

Other assets

(4,125

)

(15,786

)

Accounts payable

1,502

22,443

Other accrued liabilities

4,501

(17,471

)

Net cash provided by (used for) operating activities

14,670

(59,839

)

Cash flows from investing activities:

Acquisition of business, net of cash received

(2,500

)

(39,102

)

Capital expenditures

(28,921

)

(22,684

)

Net cash used for investing activities

(31,421

)

(61,786

)

Cash flows from financing activities:

Repayments of senior term loans

(4,256

)

(5,304

)

Borrowings on senior term loans

35,000

Financing fees

(1,027

)

Borrowings on revolving credit loans

121,000

128,000

Repayments of revolving credit loans

(97,000

)

(42,000

)

Principal payments under finance lease obligations

(556

)

(460

)

Proceeds from exercise of stock options

1,149

1,761

Cash payments related to hedging activities

(944

)

Net cash provided by financing activities

19,393

115,970

Effect of exchange rate changes on cash

476

390

Net increase (decrease) in cash and cash equivalents

3,118

(5,265

)

Cash and cash equivalents at beginning of period

14,605

21,520

Cash and cash equivalents at end of period

$

17,723

$

16,255

HILLMAN SOLUTIONS CORP.
Reconciliations of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measures

The Company uses non-GAAP financial measures to analyze underlying business performance and trends. The Company believes that providing these non-GAAP financial measures enhances the Company’s and investors’ ability to compare the Company’s past financial performance with its current performance. These non-GAAP financial measures are provided as supplemental information to the financial measures presented in this press release that are calculated and presented in accordance with GAAP. Non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures determined or calculated in accordance with GAAP. The Company’s definitions of its non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies. Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, reconciliations to GAAP financial measures are not provided for forward-looking non-GAAP measures. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.

Non-GAAP financial measures such as consolidated adjusted EBITDA and Adjusted Diluted Earnings per Share (EPS) exclude from the relevant GAAP metrics items that neither relate to the ordinary course of the Company’s business, nor reflect the Company’s underlying business performance.

Reconciliation of Adjusted EBITDA (Unaudited)
(dollars in thousands)

Adjusted EBITDA is a non-GAAP financial measure and is the primary basis used to measure the operational strength and performance of our businesses as well as to assist in the evaluation of underlying trends in our businesses. This measure eliminates the significant level of noncash depreciation and amortization expense that results from the capital-intensive nature of our businesses and from intangible assets recognized in business combinations. It is also unaffected by our capital and tax structures, as our management excludes these results when evaluating our operating performance. Our management and Board of Directors use this financial measure to evaluate our consolidated operating performance and the operating performance of our operating segments and to allocate resources and capital to our operating segments. Additionally, we believe that Adjusted EBITDA is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure of Adjusted EBITDA may not be directly comparable to similar measures used by other companies.

Thirteen
Weeks Ended

June 25, 2022

Thirteen
Weeks Ended

June 26, 2021

Twenty-six
Weeks Ended

June 25, 2022

Twenty-six
Weeks Ended

June 26, 2021

Net income (loss)

$

8,816

$

(3,385

)

$

6,929

$

(12,355

)

Income tax provision (benefit)

6,424

1,428

5,532

(5,225

)

Interest expense, net

12,533

19,159

24,161

38,178

Interest expense on junior subordinated debentures

3,152

6,304

Investment income on trust common securities

(94

)

(189

)

Depreciation

14,172

15,270

27,426

31,611

Amortization

15,566

15,414

31,087

30,323

Mark-to-market adjustment of interest rate swap

(751

)

(1,424

)

EBITDA

$

57,511

$

50,193

$

95,135

$

87,223

Stock compensation expense

2,286

1,796

8,304

3,537

Management fees

88

214

Restructuring(1)

513

565

109

Litigation expense(2)

2,703

6,322

3,713

10,282

Acquisition and integration expense(3)

1,438

3,299

2,215

8,139

Change in fair value of contingent consideration

(2,175

)

(1,212

)

(3,645

)

(1,212

)

Buy-back expense(4)

1,350

1,350

Anti-dumping duties(5)

2,636

2,636

Total adjusting items

$

4,765

$

14,279

$

11,152

$

25,055

Adjusted EBITDA

$

62,276

$

64,472

$

106,287

$

112,278

(1)  Restructuring includes severance, consulting, and other costs associated with streamlining our operations.
(2)  Litigation expense includes legal fees associated with our litigation with KeyMe, Inc. and Hy-Ko Products Company LLC.
(3)  Acquisition and integration expense includes professional fees, non-recurring bonuses, and other costs related to the merger with Landcadia III and the secondary offering of shares in the second quarter of 2022.
(4)  Infrequent buy backs associated with new business wins.
(5)  Anti-dumping duties assessed related to the nail business for prior year purchases.

Reconciliation of Adjusted Diluted EPS (Unaudited)
(in thousands, except per share data)

We define Adjusted Diluted EPS as reported diluted EPS excluding the effect of one-time, non-recurring activity and volatility associated with our income tax expense. The Company believes that Adjusted Diluted EPS provides further insight and comparability in operating performance as it eliminates the effects of certain items that are not comparable from one period to the next. The following is a reconciliation of reported diluted EPS from continuing operations to Adjusted Diluted EPS from continuing operations:

Thirteen Weeks
Ended

June 25, 2022

Thirteen Weeks
Ended

June 26, 2021

Twenty-six
Weeks Ended

June 25, 2022

Twenty-six
Weeks Ended

June 26, 2021

Reconciliation to Adjusted Net Income

Net Income

$

8,816

$

(3,385

)

$

6,929

$

(12,355

)

Remove adjusting items(1)

4,765

14,279

11,152

25,055

Mark-to-Market adjustment on interest rate swaps(2)

(751

)

(1,424

)

Remove amortization expense

15,566

15,414

31,087

30,323

Remove tax benefit on adjusting items and amortization expense(2)

(1,529

)

(3,773

)

(2,602

)

(5,661

)

Adjusted Net Income

$

27,618

$

21,784

$

46,566

$

35,938

Reconciliation to Adjusted Diluted Earnings per Share

Diluted Earnings per Share

$

0.04

$

(0.04

)

$

0.04

$

(0.14

)

Remove adjusting items(1)

0.02

0.15

0.06

0.27

Mark-to-Market adjustment on interest rate swaps(2)

(0.01

)

(0.02

)

Remove amortization expense

0.08

0.17

0.16

0.33

Remove tax benefit on adjusting items and amortization expense(2)

(0.01

)

(0.04

)

(0.01

)

(0.06

)

Adjusted Diluted Earnings per Share

$

0.14

$

0.24

$

0.24

$

0.39

Reconciliation to Adjusted Diluted Shares Outstanding

Diluted Shares, as reported(3)

196,686

91,217

195,932

91,266

Non-GAAP dilution adjustments

Dilutive effect of stock options and awards

1,025

927

Dilutive effect of warrants

Adjusted Diluted Shares

196,686

92,242

195,932

92,193

Note: Adjusted EPS may not add due to rounding.

(1)  Please refer to "Reconciliation of Adjusted EBTIDA" table above for additional information on adjusting items. See "Per share impact of Adjusting Items" table below for the per share impact of each adjustment.

Per Share Impact of Adjusting Items

Thirteen Weeks
Ended

June 25, 2022

Thirteen Weeks
Ended

June 26, 2021

Twenty-six Weeks
Ended

June 25, 2022

Twenty-six Weeks
Ended

June 26, 2021

Stock compensation expense

$

0.01

$

0.02

$

0.04

$

0.04

Management fees

Restructuring

Litigation expense

0.01

0.07

0.02

0.11

Acquisition and integration expense

0.01

0.04

0.01

0.09

Change in fair value of contingent consideration

(0.01

)

(0.01

)

(0.02

)

(0.01

)

Buy-back expense

0.01

0.01

Anti-dumping duties

0.03

0.03

Total adjusting items

$

0.02

$

0.15

$

0.06

$

0.27

   Note: Adjusting items may not add due to rounding.

(2)  We have calculated the income tax effect of the non-GAAP adjustments shown above at the applicable statutory rate of 25.2% for the U.S. and 26.5% for Canada except for the following items:

  1. The tax impact of stock compensation expense was calculated using the statutory rate of 25.2%, excluding certain awards that are non-deductible.

  2. The tax impact of acquisition and integration expense included in "Other" was calculated using the statutory rate of 25.2%, excluding certain charges that were non-deductible.

  3. Amortization expense for financial accounting purposes was offset by the tax benefit of deductible amortization expense using the statutory rate of 25.2%.

(3)  Diluted shares on a GAAP basis for the thirteen and twenty-six weeks ended June 25, 2022 include the dilutive impact of 2,551 and 1,861 options and awards, respectively.

Reconciliation of Net Debt (Unaudited)

We define Net Debt as reported gross debt less cash on hand. Net debt is not defined under U.S. GAAP and may not be computed the same as similarly titled measures used by other companies. The Company believes that Net Debt provides further insight and comparability into liquidity and capital structure. The following is a the calculation of Net Debt:

June 25, 2022

December 25, 2021

Revolving loans

$

117,000

$

93,000

Senior term loan, due 2028

846,745

851,000

Finance leases

3,064

1,782

Gross debt

$

966,809

$

945,782

Less cash

17,723

14,605

Net debt

$

949,086

$

931,177

Reconciliation of Free Cash Flow (Unaudited)

We calculate free cash flow as cash flows from operating activities less capital expenditures. Free cash flow is not defined under U.S. GAAP and may not be computed the same as similarly titled measures used by other companies. We believe free cash flow is an important indicator of how much cash is generated by our business operations and is a measure of incremental cash available to invest in our business and meet our debt obligations.

Twenty-six Weeks Ended
June 25, 2022

Twenty-six Weeks Ended
June 26, 2021

Net cash provided by (used for) operating activities

$

14,670

$

(59,839

)

Capital expenditures

(28,921

)

(22,684

)

Free cash flow

$

(14,251

)

$

(82,523

)

Source: Hillman Solutions Corp.

Tue, 02 Aug 2022 23:34:00 -0500 en-US text/html https://www.yahoo.com/now/hillman-reports-second-quarter-2022-113000146.html
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