This excerpt taken from the LUX 6-K filed Nov 15, 2007.
share these measures with all investors at the same time.
Historical and forecasted EBITDA is not meant to be considered in isolation or as a substitute for items appearing on our financial statements prepared in accordance with U.S. GAAP. Rather, these non-GAAP measures should be used as a supplement to U.S. GAAP results to assist the reader in better understanding the operational performance of the Company. The Company cautions that these measures are not defined terms under U.S. GAAP and their definitions should be carefully reviewed and understood by investors. Investors should be aware that Luxottica Groups method of calculating EBITDA may differ from methods used by other companies. The Company recognizes that the usefulness of EBITDA as evaluative tool may have certain limitations, including: