Avitar (Avitar) EBIT : $-2.84 Mil (TTM As of Dec. 2007)

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What is Avitar EBIT?

Avitar's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2007 was $-0.81 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2007 was $-2.84 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Avitar's annualized ROC % for the quarter that ended in Dec. 2007 was -85.97%. Avitar's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2007 was -1,521.31%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.

Avitar EBIT Historical Data

The historical data trend for Avitar's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Avitar EBIT Chart

Avitar Annual Data

Trend

Sep98

Sep99

Sep00

Sep01

Sep02

Sep03

Sep04

Sep05

Sep06

Sep07

EBIT

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-3.20

-2.63

-3.83

-2.89

-2.73

Avitar Quarterly Data
	Mar03	Jun03	Sep03	Dec03	Mar04	Jun04	Sep04	Dec04	Mar05	Jun05	Sep05	Dec05	Mar06	Jun06	Sep06	Dec06	Mar07	Jun07	Sep07	Dec07
EBIT	Get a 7-Day Free Trial															-0.71	-0.83	-0.60	-0.60	-0.81

Competitive Comparison of Avitar's EBIT

For the Medical Devices subindustry, Avitar's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Avitar's EV-to-EBIT Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Avitar's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Avitar's EV-to-EBIT falls into.

Avitar EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2007 adds up the quarterly data reported by the company within the most recent 12 months, which was $-2.84 Mil.

Avitar (OTCPK:AVTI) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Avitar's annualized ROC % for the quarter that ended in Dec. 2007 is calculated as:

	ROC % (Q: Dec. 2007 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2007 )	+	Invested Capital (Q: Dec. 2007 ))	/ count )
=	-3.248 * ( 1 - 0% )	/	( (3.181	+	4.375)	/ 2 )
=	-3.248	/	3.778
=	-85.97 %

where

	Invested Capital		(Q: Sep. 2007 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1.748	-	2.39	-	( 0.094	-	max(0, 4.457	-	0.634	+	0.094	))
=	3.181

	Invested Capital		(Q: Dec. 2007 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1.452	-	1.87	-	( 0.003	-	max(0, 5.248	-	0.455	+	0.003	))
=	4.375

Note: The Operating Income data used here is four times the quarterly (Dec. 2007) data.

2. Joel Greenblatt's definition of Return on Capital:

Avitar's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2007 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2007 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2007		Q: Dec. 2007
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-3.248	/	( ( (0.222 + max(-2.548, 0))	+	(0.205 + max(-2.563, 0)) )	/	2 )
=	-3.248	/	( ( 0.222	+	0.205 )	/	2 )
=	-3.248	/	0.2135
=	-1,521.31 %

where Working Capital is:

	Working Capital		(Q: Sep. 2007 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.229	+	0.225	+	0.086)	-	(2.39	+	0	+	0.698)
=	-2.548

	Working Capital		(Q: Dec. 2007 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.173	+	0.225	+	0.054)	-	(1.87	+	0	+	1.145)
=	-2.563

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2007) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Avitar's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2007 )
	=	-2.835	/	0.000
	=	%

Avitar EBIT Related Terms

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Avitar (Avitar) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Avitar Inc (OTCPK:AVTI) » Definitions » EBIT

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Address

5005 Elbow Drive SW, Suite 207, Calgary, AB, CAN, T2S 1T9

Website

Avitar Inc, through its subsidiary Avitar Technologies, develops, manufactures, and markets products for oral fluid diagnostics, disease and clinical testing, and wound treating.