Global Medical Solutions Ltd.

RICHFIELD, Ohio, June 29, 2023 /PRNewswire/ -- Group Management Services (GMS), a leading professional employer organization (PEO) headquartered in Richfield, Ohio, is pleased to announce its partnership with Lumina Imaging and Diagnostics. This collaboration revolutionizes the health care landscape for GMS clients and their employees throughout Northeast Ohio. Continue Reading Lumina Imaging and Diagnostics, a premier alternative to traditional hospital care, offers quick and comfortable MRI and CT scans. Using state-of-the-art equipment, their skilled technologists ensure the highest quality imaging, offering patients the clearest images possible. Lumina makes it convenient for patients by offering same or next-day appointments and results within 24 hours. GMS is pleased to announce its partnership with Lumina Imaging and Diagnostics. Tweet this Noting the rising costs associated with health care, and in line with GMS' commitment to enhancing its service offerings, the partnership with Lumina represents a remarkable leap forward. This collaboration not only provides GMS clients and their employees with an elevated patient experience but does so at a significantly lower cost compared to traditional hospital systems. "With the rising cost of health plans and other benefits aimed at attracting and retaining talent, employers are looking to leaders like GMS to help ease the burden", said Lumina CEO, Lisa Giganti. "We are honored to be included in GMS' suite of offerings and are committed to providing members with an elevated patient experience in a comfortable, convenient setting without sacrificing quality for cost savings." About Group Management Services: Group Management Services is headquartered in Richfield, Ohio, and represents more than 2,500 companies with over 45,000 worksite employees. There are currently 24 offices located throughout the United States. Businesses can rely on GMS' expertise in payroll, human resources, risk management, and benefits. About Lumina: Lumina Imaging and Diagnostics delivers high-quality medical imaging without the high cost. Lumina uses cutting-edge technology to provide outpatient MRI and CT scans at a cost 50-70% lower than major hospitals. With four convenient locations across northeast Ohio and flexible scheduling, patients can get scans completed quickly, with minimal to no wait time, and receive their reports within 24 hours. More information is available at: . SOURCE Group Management Services, Inc.

All amounts are in USD unless stated otherwise BROSSARD, Québec, Aug. 09, 2021 (GLOBE NEWSWIRE) -- G Mining Ventures Corp. (“GMIN” or the “Corporation”) is pleased to announce the signing of a definitive agreement (the “Agreement”) dated August 9, 2021 with Eldorado Gold Corporation (“Eldorado”) to acquire the Tocantinzinho Gold Project (“Tocantinzinho” or the “Project”), an open pit gold deposit containing 1.8 million ounces of gold reserves located in northern Brazil (the “Acquisition”). Following the arms length Acquisition, Eldorado will become a 19.9% shareholder of GMIN. Louis-Pierre Gignac, President & Chief Executive Officer of GMIN, commented: “Tocantinzinho has all the key attributes GMIN was looking for in an initial acquisition, with clear visibility towards near-term construction and commercial production. This is the first step towards our vision of becoming a leading intermediate gold producer. With over C$40 million of cash on the balance sheet, and additional access to $200 million from Sprotti, we are well positioned to advance our “Buy, Build, Operate” strategy that includes the acquisition of additional advanced-stage development projects and operating mines. We look forward to having Eldorado as a cornerstone investor and appreciate their confidence in our ability to create and unlock value by carrying out the next phases of the Project.” George Burns, President & Chief Executive Officer of Eldorado, commented: “This transaction provides Eldorado with immediate value for Tocantinzinho, while also retaining meaningful exposure to future value creation through our equity stake in GMIN. Tocantinzinho will be a cornerstone asset for GMIN, a team with a strong track record of building mines on time and on budget. We believe they are the right group to responsibly advance the asset and we look forward to following and supporting their success.” Acquisition Highlights: Acquisition SummaryPursuant to the Agreement, GMIN will acquire all of Eldorado’s property, assets, and rights related to the Project through the acquisition of all the issued and outstanding shares of Brazauro Recursos Minerais S.A. The consideration for the Acquisition will be payable through a minimum upfront consideration of $50 million, and deferred consideration of $60 million. The upfront consideration will be comprised of (i) the Issuance to Eldorado of GMIN common shares equal to 19.9% of the issued and outstanding GMIN common shares (the “GMIN Shares”) at closing of the Acquisition (“Closing Date”), (ii) a minimum cash payment of $20.0 million (the “Closing Cash Payment”) on the Closing Date; and, if required, (iii) an additional cash payment such that the total upfront consideration, after taking into consideration the value of the GMIN Shares, equals no less than $50 million. The GMIN Shares will be issued at the offer price of the Equity Financing (as defined below). The deferred consideration consists of a cash payment of $60.0 million payable, at GMIN’s option, anytime from the Closing Date until the first anniversary of the Project achieving commercial production. GMIN, at its option, may defer 50% of the deferred consideration for 12 months subject to a $5.0 million premium payable on the second anniversary of the Project achieving commercial production (such deferred payment totaling $35.0 million). Concurrently with the closing of the Acquisition, GMIN and Eldorado will enter into an investor rights agreement, which will grant Eldorado certain rights for so long as it maintains 10.0% ownership of GMIN common shares, or more, on an undiluted basis. The agreement will include a customary lockup period until the earlier of (i) 2 years and (ii) the Corporation making a positive construction decision, the right for Eldorado to participate in future equity offerings by GMIN in order to maintain the greater of 19.9% of GMIN’s share capital and Eldorado’s pro rata ownership interest prior to the offering, and additional customary rights and restrictions for a transaction of this nature. Concurrent Equity FinancingA private placement equity financing (the “Equity Financing”) is planned over the next several weeks to finance some of the Closing Cash Payment as well as various work programs on the Project. Management, Board and existing institutional shareholders who currently hold approximately 50% of the issued and outstanding common shares of GMIN have communicated their intention to maintain their pro-rata ownership and commit to approximately 50 % of the Equity Financing. Timetable and Next StepsIt is anticipated that the closing of the Acquisition will take place during Q4-21. In the coming months, GMIN will be focused on the following activities: About TocantinzinhoTocantinzinho is an open-pit gold deposit containing 1.8 million ounces of reserves located in Para State, Brazil. The 688km2 land package has direct access via 103 km of all-weather roads starting from the national highway, the BR-163, that links the industries in southern Brazil to the ports on the Tapajós River and the city of Belem in the north. GMIN intends to construct a transmission line and a substation at site to connect the Project to the Brazilian power grid, which is 80% powered by renewable energy, a sustainable source of low-carbon power. The Project is entitled to a special Brazilian tax incentive that provides a 75% reduction to the corporate income taxes. Eldorado acquired Tocantinzinho in 2010 through the $120 million acquisition of Brazauro Resources Corp. and invested over $90 million into the Project since then. All the key permits required for the start of construction have been received, including the installation license (LI) in 2017, with the mining concession issued in 2018. A feasibility study on the Project was initially completed by Eldorado in 2015, and an updated technical report was published in 2019 (the “2019 Feasibility Study”)iii. The deposit is open at depth, and the large, underexplored land package presents a great deal of additional exploration potential that may yield satellite mineralized bodies. With no relocation or resettlement required, nor any indigenous communities nearby, the Project is construction ready. Selected 2019 Feasibility Study Parameters and Outputs Advisors and Counsel GMIN has retained Blake, Cassels & Graydon LLP and Miller Thomson LLP to act as legal advisors. About G Mining Ventures Corp.G Mining Ventures is a mineral exploration company that has been, up until now, focused on the exploration and development of the Cameron Lake Property, located in the west-central part of Québec. As disclosed in the October 23, 2020 and subsequent press releases, the Corporation has been actively pursuing its objective of acquiring a significant precious metal asset in 2021. Additional InformationFull details of the Acquisition are set out in the Agreement, which will be filed by GMIN under its profile on SEDAR at . All technical information on the Project is based on the 2019 Feasibility Study, a feasibility study technical report entitled “Technical Report Tocantinzinho Project Brazil” effective date of June 21, 2019, filed on SEDAR by Eldorado on August 9, 2019. Louis-Pierre Gignac, President & Chief Executive Officer of GMIN, a qualified person as defined in National Instrument 43-101, has reviewed the 2019 Feasibility Study on behalf of the Corporation and has approved the technical disclosure contained in this news release. To the best of GMIN’s knowledge, information and belief, there is no new material scientific or technical information that would make the disclosure of the mineral resources, mineral reserves or results of a preliminary economic assessment in the 2019 Feasibility Study inaccurate or misleading. GMIN plans to prepare an updated NI 43-101 compliant feasibility study and will file the technical report within 180 days of this announcement. For further information on GMIN, please visit the website at or contact: Dušan Petković,Vice President, Corporate Development & Investor Relations416-817-1308dpetkovic@gminingventures.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Statement on Forward-Looking InformationAll statements, other than statements of historical fact, contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to: Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, the receipt of required regulatory approval (including that of TSX-V), the completion of the envisaged transactions with Eldorado, the hiring of GMS to help GMIN bringing the Project into commercial production, and the expected timing and costs relating to all of the foregoing. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that the Corporation will complete the Equity Financing and acquire the Project or any other significant precious metal asset in 2021, or ever, as future events could differ materially what is currently anticipated by the Corporation. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation’s other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the relevant section of the Corporation’s Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law._______________________ii US$200 million facility commitment from Sprott Resource Lending Corp. as announced on 01/21/2021.iii Source: Eldorado press release dated May 12, 2010. C$122 million transaction value converted at spot USD:CAD FX at time of announcement of 0.98.iv All technical information on the Project is based on a feasibility study technical report entitled “Technical Report Tocantinzinho Project Brazil” dated June 21, 2019, filed on SEDAR by Eldorado on August 9, 2019. Louis- Pierre Gignac, President & Chief Executive Officer of GMIN, a qualified person as defined in National Instrument 43-101, has reviewed the 2019 Feasibility Study on behalf of the Corporation and has approved the technical disclosure contained in this news release. GMIN plans to prepare an updated NI 43-101 compliant feasibility study and will file the technical report within 180 days of this announcement.

Highlights FALLS CHURCH, Va., Aug. 05, 2021 (GLOBE NEWSWIRE) --  PAE Incorporated (“PAE” or the “Company”) (NASDAQ: PAE, PAEWW) today announced second-quarter 2021 financial and operating results. CEO Commentary PAE Interim President and CEO Charlie Peiffer said, “We delivered strong adjusted EBITDA and margins with solid revenue performance in the quarter. We started to see a pickup in contract awards activity, which provides the foundation for revenue growth heading into the second half of the year.” Second-Quarter 2021 Results Revenues for the quarter of $747.2 million increased $103.9 million, or 16.2%, compared to the prior year period. The increase was attributable to $93.1 million of revenue from recent acquisitions and by a $10.8 million net increase from new business awards and other changes in contract volume. The Global Mission Services and National Security Solutions segments’ revenues increased by approximately $3.5 million and $100.4 million, respectively. Operating income for the quarter was $30.8 million, compared with operating income of $34.3 million in the prior year period. The decrease resulted from higher selling, general and administrative expenses and increased amortization of intangible assets, which decrease was partially offset by higher revenue volume. The net income attributed to PAE for the quarter was $14.4 million, or $0.15 per diluted share, compared with a net loss of approximately $3.4 million, or $(0.04) per diluted share in the prior year period. The improvement in net income for the second quarter of 2021 was primarily driven by changes in fair value of the warrants, which increase was partially offset by the factors impacting operating income.    Adjusted EBITDA for the quarter was $53.3 million, or 7.1% of revenue, compared to $48.4 million, or 7.5% of revenue, in the prior year period. Adjusted EBITDA increased due to higher revenue volume while margins declined due primarily to higher selling, general and administrative expenses in the current period. Global Mission ServicesGMS revenues for the quarter of $511.3 million increased $3.5 million, or about 1.0%, compared to the prior year period. The increase was attributable to new business awards, which increase was partially offset by reductions in contract volume on certain programs. GMS operating income for the quarter was $28.7 million, compared to $31.5 million in the prior-year period. The decrease was driven by higher selling, general and administrative expenses which was partially offset by higher revenue volume. GMS adjusted operating income2 for the quarter was $34.6 million, or 6.8% of revenue, compared to $37.4 million, or an operating margin of 7.4% of revenue, in the prior year period. The reduction in GMS adjusted operating income and margins2 was driven by higher selling, general and administrative expenses, which decrease was partially offset by higher revenue volume. National Security SolutionsNSS revenues for the quarter of $235.9 million increased $100.4 million, or 74.1%, compared to the prior year period. The increase was attributable to $93.1 million of revenue from recent acquisitions and a $7.4 million increase from in contract volume. NSS operating income for the quarter was $9.2 million, compared to $7.7 million in the prior year period. The increase resulted from higher revenue volume and improved program performance, which increase was partially offset by higher selling, general and administrative expenses. NSS adjusted operating income3 for the quarter was $18.7 million, or 7.9% of revenue, compared to $11.0 million, or 8.1% of revenue, in the prior year period. The variances in NSS adjusted operating income and margins3 were driven by the increase in revenue volume and program performance, which increases were partially offset by higher selling, general and administrative expenses. Cash Flow Summary Net cash used in operating activities for the quarter of $11.9 million decreased $56.5 million over the prior year period, primarily as a result of lower comparable cash collections due to timing of customer payments, partially offset by customer advances and billings in excess of costs and net income growth. As of June 27, 2021, PAE had cash and cash equivalents totaling $94.7 million and had no outstanding borrowings on its senior secured revolving credit facility. Business Development Highlights and Contract Awards Net bookings totaled $731 million in the second quarter and $2.9 billion over the trailing 12 months, representing a book to bill ratio of 1.0x for both the second quarter and trailing 12 months. Notable second quarter awards received include: Notable New Business Awards: Notable Recompete Awards: Notable IDIQ Awards: The Company’s backlog at the end of the quarter was $7.4 billion, of which approximately $1.2 billion was funded. Following the end of the second quarter, GMS was awarded an approximately $402 million contract by the National Aeronautics and Space Administration to provide a wide range of facility support services at Lyndon B. Johnson Space Center in Houston, Texas. This award was subsequently protested by a competitor, and the protest is currently pending at the Government Accountability Office. 2021 Financial Outlook PAE is reiterating the fiscal 2021 guidance it issued on March 11, 2021, based on the Company's financial results for the first six months of 2021 and its current outlook for the remainder of the year. The table below summarizes the Company's 2021 financial guidance: Adjusted EBITDA is a non-GAAP financial measure. The Company is not providing a quantitative reconciliation of adjusted EBITDA in its 2021 financial guidance in reliance on the “unreasonable efforts” exception for forward-looking non-GAAP measures set forth in Securities and Exchange Commission rules because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated without unreasonable effort and expense. In this regard, the Company does not provide a reconciliation of forward-looking adjusted EBITDA (non-GAAP) to GAAP net income, due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Because certain deductions for non-GAAP exclusions used to calculate projected net income may vary significantly based on actual events, the Company is not able to forecast on a GAAP basis with reasonable certainty all deductions needed to provide a GAAP calculation of projected net income at this time. The amounts of these deductions may be material and, therefore, could result in actual GAAP net income being materially less than is indicated by estimated adjusted EBITDA (non-GAAP). Due to the uncertainty of estimates and assumptions used in preparing forward-looking non-GAAP measures, actual results could differ materially from these non-GAAP financial projections. Conference Call Information As previously announced, PAE will host a conference call and webcast today, August 5, 2021, at 8 a.m. ET. Management will review the Company's second-quarter 2021 financial results, followed by a question-and-answer session. Listeners will be able to access a presentation summarizing the second-quarter 2021 results on the PAE Investor Relations website. Interested parties are invited to join the webcast from the PAE Investor Relations website and may register for an email reminder using the “Events and Presentations” link. Due to the COVID-19 pandemic, teleconference providers globally are experiencing significant increases in conference call volume. As such, the Company recommends that parties participate by joining the webcast. Alternatively, if the webcast is not practical, attendees may listen to the conference call by dialing (855) 982-6676 and entering conference ID 2767504. The international dial-in access number is (614) 999-9188. The Company will post an archive of the webcast following the call on the PAE Investor Relations website. Forward-Looking Statements This press release may contain a number of “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to management’s assumptions, expectations, projections, intentions and/or beliefs about future events or occurrences, and include, but are not limited to, statements about PAE’s possible or assumed future results of operations and cash flows, financial results, business strategies, debt levels, competitive position, industry environment, potential growth opportunities, potential impact of COVID-19, effects of regulation, backlog, estimation of resources for contracts, risks related to IDIQ contracts, risks related to integration of acquisitions, strategy for and management of growth, needs for additional capital, risks related to U.S. government contracting generally, including congressional approval of appropriations, and bid protests. These forward-looking statements are based on PAE’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside PAE’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Some factors that could cause actual results to differ include a loss of contracts with the U.S. federal government or its agencies or other state, local or foreign governments or agencies, including as a result of a reduction in government spending; service failures or failures to properly manage projects; issues that damage our professional reputation; disruptions in or changes to prices relating to our supply chain, including as a result of difficulties in the supplier qualification process; failures on the part of our subcontractors or joint venture partners to perform their contractual obligations; failures to maintain strong relationships with other contractors; the impact of a negative audit or other investigation; failure to comply with numerous laws and regulations regarding procurement, anti-bribery and organizational conflicts of interest; inability to comply with the laws and other security requirements governing access to classified information; inability to share information from classified contracts with investors; impact of implementing various data privacy and cybersecurity laws; costs and liabilities arising under various environmental laws and regulations; various claims, litigation and other disputes that could be resolved against PAE; delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; risks related to mergers and acquisitions, including our ability to realize the benefits of any such transactions in a manner consistent with our expectations and integration risks; risks from operating internationally; the effects of COVID-19 and other pandemics or health epidemics, including disruptions to our workforce and the impact on government spending; disruptions caused by natural or environmental disasters, terrorist activities or other events outside our control; issues arising from cybersecurity threats or intellectual property infringement claims; the loss of members of senior management; the inability to attract, train or retain employees with the requisite skills, experience and security clearances; the impact of the expiration of our collective bargaining agreements; and other risks and uncertainties described under the heading “Risk Factors” and elsewhere in our reports filed with the Securities and Exchange Commission (“SEC”). Forward-looking statements included in this release speak only as of the date of this release. PAE does not undertake any obligation to update its forward-looking statements to reflect events or circumstances after the date of this release except as may be required by the federal securities laws. About PAE For more than 65 years, PAE has tackled the world’s toughest challenges to deliver agile and steadfast solutions to the U.S. government and its allies. With a global workforce of approximately 20,000 on all seven continents and in approximately 60 countries, PAE delivers a broad range of operational support services to meet the critical needs of our clients. Our headquarters is in Falls Church, Virginia. Find us online at pae.com, on Facebook, Twitter and LinkedIn. For investor inquiries regarding PAE: Mark ZindlerVice President Investor RelationsPAE703-717-6017mark.zindler@pae.com For media inquiries regarding PAE: Terrence NowlinSenior Communications ManagerPAE703-656-7423terrence.nowlin@pae.com PAE Incorporated Condensed Consolidated Statement of Operations (Unaudited) (In thousands, except share and per share data) PAE IncorporatedCondensed Consolidated Balance Sheets (Unaudited)(In thousands, except share and par value amounts) PAE IncorporatedCondensed Consolidated Statements of Cash Flows (Unaudited) (In thousands) PAE IncorporatedCondensed Consolidated Statements of Cash Flows (Unaudited) (In thousands) PAE INCORPORATED SEGMENT DATA (in thousands) PAE INCORPORATED BACKLOG (in thousands) Backlog represents the estimated amount of future revenues to be recognized under negotiated contracts and task orders as work is performed and excludes contract awards which have been protested by competitors until the protest is resolved in our favor. PAE segregates backlog into two categories, funded backlog and unfunded backlog. Funded backlog refers to the value on contracts for which funding is appropriated less revenues previously recognized on these contracts. Unfunded backlog represents the estimated future revenues to be earned from negotiated contracts for which funding has not been appropriated or authorized, and unexercised priced contract options. Unfunded backlog does not include any estimate of future potential task orders expected to be awarded under indefinite delivery, indefinite quantity contracts, U.S. General Services Administration schedules or other master agreement contract vehicles. Non-GAAP Financial Measures The Company uses EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted operating income per segment and adjusted operating income margin per segment as supplemental non-GAAP measures of performance. PAE defines EBITDA as net income excluding (i) interest expense, (ii) provision for or benefit from income taxes and (iii) depreciation and amortization. Adjusted EBITDA and adjusted operating income per segment exclude certain amounts included in EBITDA as provided in the reconciliations provided herein. Adjusted EBITDA is equal to the sum of adjusted operating income for each segment. Adjusted EBITDA margin is calculated as adjusted EBITDA divided by revenues expressed as a percentage and adjusted operating income margin is calculated as adjusted operating income divided by revenues expressed as a percentage. For 2021 and 2020, the Company’s net income was impacted by certain events, as described in the footnotes to the reconciliation tables, that do not reflect the cost of our operations and which may affect the period-over-period assessment of operating results. The non-GAAP financial measures demonstrate the impact of these events. These non-GAAP measures of performance are used by management to conduct and evaluate its business during its regular review of operating results for the periods presented. Management and the Company’s board utilize these non-GAAP measures to make decisions about the use of the Company’s resources, analyze performance between periods, develop internal projections and measure management performance. PAE believes these non-GAAP measures are useful to investors in evaluating the Company’s ongoing operating and financial results and understanding how such results compare with the Company’s historical performance. In addition to the above non-GAAP financial measures, the Company has included backlog, net bookings, and book-to-bill ratio in this release. Backlog is an operational measure representing the estimated amount of future revenues to be recognized under negotiated contracts and task orders as work is performed and excludes contract awards which have been protested by competitors until the protest is resolved in our favor. Net bookings are an operational measure representing the change in backlog between reporting periods plus reported revenue for the period and book-to-bill ratio is an operational measure representing net bookings divided by reported revenues for the same period. We believe backlog, net bookings and book-to-bill ratio are useful metrics for investors because they are an important measure of business development performance and revenue growth. These metrics are used by management to conduct and evaluate its business during its regular review of operating results for the periods presented. (1) Non-core expenses include certain professional fees, gain/loss on disposal of fixed assets, settlements and certain severance costs. (2) Non-cash items include idle facilities charges for facilities the Company no longer occupies, pension curtailment costs and unrealized FX gains/losses. (3) Equity based compensation reflects costs associated with the issuance of restricted stock units and performance-based restricted stock units to PAE employees and independent directors. (4) Other costs include adjustments to offset capitalized internal labor, state income taxes that were not captured in reported income tax expense and warrant-related expenses. (5) Corporate operating loss allocation includes certain selling, general and administrative, depreciation and amortization costs that cannot be assigned to a specific segment; this cost is allocated based on proportionate segment revenues for the period in which the cost is incurred. (6) Corporate other income (loss) allocation includes changes in the fair value of the warrants and transaction expenses allocated to the warrants. 1 Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. A reconciliation of adjusted EBITDA and adjusted EBITDA margin to their most directly comparable GAAP financial measure, net income (loss), and a discussion of Adjusted EBITDA, Adjusted EBITDA margin and other non-GAAP financial measures, is contained in the “Non-GAAP Financial Measures” section of this release.2 GMS adjusted operating income and adjusted operating income margin are non-GAAP financial measures. A reconciliation of GMS adjusted operating income and adjusted operating income margin to their most directly comparable GAAP financial measure, GMS operating income (loss), is contained in the “Non-GAAP Financial Measures” section of this release.3 NSS adjusted operating income and adjusted operating income margin are non-GAAP financial measures. A reconciliation of NSS adjusted operating income and adjusted operating income margin to their most directly comparable GAAP financial measure, NSS operating income (loss), is contained in the “Non-GAAP Financial Measures” section of this release.