Advanced Digital Broadcast Holding (XSWX:ADBN) EBIT : CHF-7.4 Mil (TTM As of Jun. 2014)

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What is Advanced Digital Broadcast Holding EBIT?

Advanced Digital Broadcast Holding's earnings before interest and taxes (EBIT) for the six months ended in Jun. 2014 was CHF2.7 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2014 was CHF-7.4 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Advanced Digital Broadcast Holding's annualized ROC % for the quarter that ended in Jun. 2014 was 3.51%. Advanced Digital Broadcast Holding's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2014 was 44.65%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Advanced Digital Broadcast Holding's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2014 was -9.71%.

Advanced Digital Broadcast Holding EBIT Historical Data

The historical data trend for Advanced Digital Broadcast Holding'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.

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Advanced Digital Broadcast Holding EBIT Chart

Advanced Digital Broadcast Holding Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

EBIT

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22.48

18.72

-7.69

9.92

-6.92

Advanced Digital Broadcast Holding Semi-Annual Data
	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14
EBIT	Get a 7-Day Free Trial					2.13	7.88	3.32	-10.09	2.67

Competitive Comparison of Advanced Digital Broadcast Holding's EBIT

For the Communication Equipment subindustry, Advanced Digital Broadcast Holding'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.

Advanced Digital Broadcast Holding's EV-to-EBIT Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Advanced Digital Broadcast Holding's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Advanced Digital Broadcast Holding's EV-to-EBIT falls into.

Advanced Digital Broadcast Holding 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. 2014 adds up the semi-annually data reported by the company within the most recent 12 months, which was CHF-7.4 Mil.

Advanced Digital Broadcast Holding (XSWX:ADBN) EBIT Explanation

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

Advanced Digital Broadcast Holding's annualized ROC % for the quarter that ended in Jun. 2014 is calculated as:

	ROC % (Q: Jun. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2013 )	+	Invested Capital (Q: Jun. 2014 ))	/ count )
=	5.342 * ( 1 - 42.94% )	/	( (82.46	+	91.252)	/ 2 )
=	3.0481452	/	86.856
=	3.51 %

where

	Invested Capital		(Q: Dec. 2013 )
=	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	))
=	154.867	-	53.374	-	( 43.415	-	max(0, 89.296	-	108.329	+	43.415	))
=	82.46

	Invested Capital		(Q: Jun. 2014 )
=	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	))
=	169.311	-	62.115	-	( 45.739	-	max(0, 106.654	-	122.598	+	45.739	))
=	91.252

Note: The Operating Income data used here is two times the semi-annual (Jun. 2014) data.

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

Advanced Digital Broadcast Holding's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2014 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2013		Q: Jun. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	5.342	/	( ( (12.449 + max(-16.174, 0))	+	(11.479 + max(-15.396, 0)) )	/	2 )
=	5.342	/	( ( 12.449	+	11.479 )	/	2 )
=	5.342	/	11.964
=	44.65 %

where Working Capital is:

	Working Capital		(Q: Dec. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(39.663	+	19.997	+	5.254)	-	(53.374	+	0	+	27.714)
=	-16.174

	Working Capital		(Q: Jun. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(46.134	+	16.657	+	14.068)	-	(62.115	+	0	+	30.14)
=	-15.396

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2014) EBIT data.

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

Advanced Digital Broadcast Holding's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2014 )
	=	-7.42	/	76.394
	=	-9.71 %

Advanced Digital Broadcast Holding EBIT Related Terms

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Advanced Digital Broadcast Holding (XSWX:ADBN) Business Description

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Advanced Digital Broadcast Holding SA was incorporated on July 26, 2004 in the Canton of Geneva. The Company is engaged in the development and sale of equipment, services and software for the digital television and broadband data communication industry, and relies on third party contract manufacturers for the production of equipment. In 2005, the Company made an initial public offering. It develops and delivers diverse products to the worldwide digital television industry, supplying digital set-top boxes across all television transmission platforms such as cable, IPTV, satellite and terrestrial. Its customers include digital television operators, consumer electronics manufacturers and retail distributors of digital set-top boxes. The Company is in system integration, incorporating the industry's middleware, conditional access and hardware technologies and provide technically superior products, service and support, in as short time as possible.

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