Quarters Ended | Years Ended | ||||||||
December 31, | December 31, | ||||||||
2008 | 2009 | 2008 | 2009 | ||||||
RECONCILIATION OF ADJUSTED EBITDA: | |||||||||
Net income | $322,507 | $362,897 | $1,790,409 | $ 1,925,066 | |||||
Add back: | |||||||||
Depreciation and amortization - Offices | 619,723 | 592,251 | 2,445,956 | 2,423,788 | |||||
Depreciation and amortization - Corporate | 24,192 | 21,089 | 96,366 | 86,809 | |||||
Stock-based compensation expense | 187,271 | 240,040 | 731,607 | 902,409 | |||||
Interest expense, net | 82,450 | 56,069 | 282,267 | 174,582 | |||||
Income tax expense | 287,692 | 219,069 | 1,414,962 | 1,350,301 | |||||
Adjusted EBITDA | $1,523,835 | $1,491,415 | $6,761,567 | $6,862,955 | |||||
