Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Jonathan Schildkraut - Jefferies & Co.
Jonathan Schildkraut - Jefferies & Co.
A couple of housekeeping questions and then some questions about the guidance. First, can you give us the breakdown between federal and commercial for the recurring bookings?
Jose A. Segrera
On the federal side the recurring bookings were approximately $1.4 million so the balance, $14.0 million, is commercial.
Jonathan Schildkraut - Jefferies & Co.
I was going through the EBITDA reconciliation and there is a difference between your presentation and the release. I guess it shares settled liabilities of maybe $440,000 or so and I’m wondering where in your P&L those costs are that you are backing them out later?
Jose A. Segrera
All the shares settled liabilities should be flowing through on the—are you looking for the quarter?
Jonathan Schildkraut - Jefferies & Co.
I’m just saying in the reconciliation of the EBITDA it looks like $1.7 million or so and then in the detailed breakout in the presentation it looks about $1.4 million.
Jose A. Segrera
It’s all in cost of sales in G&A. If you want, we can get that to you online after the call.
Jonathan Schildkraut - Jefferies & Co.
Could we talk a little about the stimulus package and the NAP of the Capital Region. You have long had relationships with the Department of Defense, Department of State, it looks like a lot of money will be allocated here to improving the facilities. I know that in Miami you have a dedicated government facility skipped certified. I was wondering if you could give us a detailed dive on what you have at the NAP of the Capital Region in terms of the similarity of the separation on the federal side.
Manuel D. Medina
There is a difference between Miami and the NAP of the Capital Region in the sense that Miami is vertical and there is one floor on top of the other. This is why we dedicated one floor specifically for the federal customers in Miami. In the NAP of the Capital Region, right now each pod is actually composed mostly of federal, particularly if you include integrators as federal, meaning the federal practice of integrators. So basically it’s a mixture of both with an overwhelming majority of federal at this time.
As far as the stimulus package and just the federal business, as you heard on my comments, I made a big emphasis on that because we are very excited about what’s going on. I personally have been following and I was in D.C. last week, and not only on their DOD and State Department side and traditional customers, I think what you are going to see on the stimulus package is a significant amount of effort to improve our civilian agencies: health care, education, agriculture, etc.
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