Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from [John Rolfe] - Argan Capital.
John Rolfe - Argan Capital
This is a little off topic, but I had a question actually from your proxy which was filed not too long ago. There was some detail in there about the short-term incentive plans, and I think the language was that the fiscal 2009 goals for target operating EBITDA and operating income were set at levels considerably above actual results achieved in '08 for the remaining company.
Given that I know that there was a little bit of discrepancy between what is the remaining business and what used to be classified as OSBU, can you just tell us sort of what those '08 numbers would have been for EBITDA and EBIT for what you're calling the remaining company.
Stephen Young
Well, when we set our targets for our short-term incentive plan we look at operating income in the calculations for senior management and we look at EBITDA or operating EBITDA for the calculations for some of our units.
Each one of those, we did reflect a significant increase over what our current without OSBU would have been. And the numbers were consistent with the pro forma information that we showed last time, representing $12.4 million of pro forma operating EBITDA, and then just converting that with depreciation and operating income to come to an operating income target that we would increase from.
But the numbers that we compared to were consistent with the $12.4 million presentation that we had as a part of this call.
John Rolfe - Argan Capital
Okay, so the '09 short-term incentive plan payout thresholds then would be per your language considerably above that $12.4 million number?
Stephen Young
Yes.
John Rolfe - Argan Capital
And in terms - again, I know there's a lot of moving parts here - but in terms of the sort of goal to get back to that $20 million plus of operating EBITDA for the remaining business, that is a level that you sort of expect to be at a run rate by in the back half of this year? Is that the right way to think about it or is that a number that you expect to actually hit for the year?
Bob Whitman
Yes, what we were saying is to hit a number in the $20 million operating EBITDA range in this year would equate to a run rate - it would actually be a little better than a run rate - to get to the $23.4 million of operating EBITDA that we had with the CSBU.
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