EBITDA profit was $5.5 million for the first quarter 2001, compared to $26.5 million in the fourth quarter 2000, and to a $7.9 million EBITDA loss for the first quarter 2000. EBITDA is defined as earnings before interest, taxes, depreciation, amortization, and other noncash charges (see footnote 6 of the Condensed Consolidated Statements of Operations attached).
Cash net loss was $118.3 million for the first quarter 2001, or $0.22 per share, compared with a cash net loss of $55.8 million, or $0.13 per share, for the fourth quarter 2000, and a cash net loss of $60.2 million, or $0.16 per share, for the first quarter 2000. (Cash net loss is defined in footnote 7 of the Condensed Consolidated Statements of Operations attached.)
Due primarily to a decline in the valuation of comparable companies, Exodus(R) recognized a $395.4 million nonrecurring noncash charge for the decrease in the carrying value of its investments, including Mirror Image Internet. In addition, the Company recorded $52 million in restructuring and merger-related accruals as a result of the acquisition of GlobalCenter during the quarter, and recognized $30.6 million of merger, restructuring and asset impairment charges.
Net loss for the first quarter of 2001 was $649.6 million or $1.21 per share, compared to $65.2 million or $0.15 per share in the fourth quarter 2000, and $68.0 million or $0.19 per share in the first quarter 2000.
