InSite Vision (InSite Vision) EBIT : $-12.39 Mil (TTM As of Jun. 2015)

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What is InSite Vision EBIT?

InSite Vision's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2015 was $-5.89 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2015 was $-12.39 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. InSite Vision's annualized ROC % for the quarter that ended in Jun. 2015 was -213.45%. InSite Vision's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2015 was -1,595.13%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. InSite Vision's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2015 was -27.32%.

InSite Vision EBIT Historical Data

The historical data trend for InSite Vision'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.

InSite Vision EBIT Chart

InSite Vision Annual Data

Trend

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

EBIT

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0.66

3.23

1.22

13.11

-7.22

InSite Vision Quarterly Data
	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15
EBIT	Get a 7-Day Free Trial															2.26	-2.91	-3.09	-0.50	-5.89

Competitive Comparison of InSite Vision's EBIT

For the Drug Manufacturers - Specialty & Generic subindustry, InSite Vision'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.

InSite Vision's EV-to-EBIT Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, InSite Vision's EV-to-EBIT distribution charts can be found below:

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

InSite Vision 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 Jun. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was $-12.39 Mil.

InSite Vision (OTCPK:INSV) EBIT Explanation

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

InSite Vision's annualized ROC % for the quarter that ended in Jun. 2015 is calculated as:

	ROC % (Q: Jun. 2015 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2015 )	+	Invested Capital (Q: Jun. 2015 ))	/ count )
=	-23.56 * ( 1 - 0% )	/	( (7.862	+	14.213)	/ 2 )
=	-23.56	/	11.0375
=	-213.45 %

where

	Invested Capital		(Q: Mar. 2015 )
=	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	))
=	4.098	-	4.011	-	( 1.05	-	max(0, 10.355	-	2.58	+	1.05	))
=	7.862

	Invested Capital		(Q: Jun. 2015 )
=	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	))
=	4.657	-	4.654	-	( 1.755	-	max(0, 17.431	-	3.221	+	1.755	))
=	14.213

Note: The Operating Income data used here is four times the quarterly (Jun. 2015) data.

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

InSite Vision's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2015 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2015 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2015		Q: Jun. 2015
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-23.56	/	( ( (1.518 + max(-3.626, 0))	+	(1.436 + max(-4.71, 0)) )	/	2 )
=	-23.56	/	( ( 1.518	+	1.436 )	/	2 )
=	-23.56	/	1.477
=	-1,595.13 %

where Working Capital is:

	Working Capital		(Q: Mar. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.363	+	0	+	1.167)	-	(4.011	+	0	+	1.145)
=	-3.626

	Working Capital		(Q: Jun. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.357	+	0	+	1.109)	-	(4.654	+	0	+	1.522)
=	-4.71

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2015) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2015 )
	=	-12.389	/	45.340
	=	-27.32 %

InSite Vision EBIT Related Terms

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InSite Vision (InSite Vision) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » InSite Vision Inc (OTCPK:INSV) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.insitevision.com

InSite Vision Inc was incorporated in 1986 as a California Corporation and reincorporated in Delaware in 1987. The Company is an ophthalmic product development company committed to advancing ophthalmic pharmaceutical products to address unmet eye care needs. The Company completed its initial public offering on October 18, 1993. The Company's current portfolio of ophthalmic pharmaceutical products is based on its proprietary DuraSite drug delivery technology. The Company's DuraSite sustained drug delivery technology is a proven, patented synthetic polymer-based formulation designed to extend the residence time of a drug relative to conventional topical therapies. It enables topical delivery of a solution, gel or suspension and could be customized for delivering a variety of potential drug candidates. The Company has focused its research, development and commercial support efforts on the following topical products formulated with its DuraSite drug delivery technology. AzaSite or azithromycin ophthalmic solution 1% is a DuraSite formulation of azithromycin developed as a broad spectrum ocular antibiotic and approved by the U.S. Food and Drug Administration in April 2007 to treat bacterial conjunctivitis. Additional indications are being pursued by Inspire Pharmaceuticals for this product. AzaSite was commercially launched in the United States by Inspire Pharmaceuticals in August 2007. DexaSite is a DuraSite formulation of dexamethasone in development for the treatment of ocular inflammation. In November 2011, it initiated a Phase 3 clinical trial for this product candidate in blepharitis and completed patient enrollment in the clinical trial in September 2012. BromSite is a DuraSite formulation of bromfenac in development for the prevention of post-operative inflammation and eye pain. It initiated a Phase 1/2 clinical trial for this product candidate in August 2010 and received positive top-line results from this study in the first quarter of 2011, which demonstrated the efficacy and safety of BromSite. DuraSite 2 is a next-generation enhanced drug delivery system, which is designed to provide a broad platform for developing superior ophthalmic therapeutics. DuraSite 2 is based on the original DuraSite technology, and incorporates a cationic polymer to achieve sustained and enhanced ocular delivery of drugs. ISV-101 is a DuraSite formulation with a low concentration of bromfenac for the treatment of dry eye disease. The Company is subject to regulation by numerous governmental authorities in the United States and other countries.

Executives

Louis Drapeau	officer: Vice President and CFO	C/O BIOMARIN PHARMACEUTICAL INC., 371 BEL MARIN KEYS BLVD., SUITE 210, NOVATO CA 94949
Brian Levy	director
Anthony J Yost	director	C/O INSITE VISION, INC., 965 ATLANTIC AVENUE, ALAMEDA CA 94501
Timothy Mcinerney	director
Craig A Tooman	director
Coliseum Capital Management, Llc	10 percent owner	105 ROWAYTON AVENUE, ROWAYTON CT 06853
Timothy P Lynch	director	919 NW BOND STREET, SUITE 204, BEND OR 97703
Rick D Anderson	director	3600 N CAPITAL OF TEXAS HWY, SUITE B180, AUSTIN TX 78746
Jon S Saxe	director	FIRST HORIZON PHARMACEUTICAL CORP, 660 HEMBREE PKWY STE 106, ROSWELL GA 30076
Francis Wen-hou Chen	director	1821 JONES STREET, SAN FRANCISCO CA 94109
Pinto Tv Gp Co Llc	10 percent owner	3600 N CAPITAL OF TEXAS HWY, SUITE B180, AUSTIN TX 78746
Matthew S Crawford	10 percent owner	3600 N CAPITAL OF TEXAS HWY, SUITE B180, AUSTIN TX 78746
Pfizer Inc	10 percent owner	66 HUDSON BOULEVARD EAST, NEW YORK NY 10001-2192

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