Exhibit 99.1

LAZYDAYS REPORTS FOURTH QUARTER AND FISCAL YEAR 2022 FINANCIAL RESULTS

Tampa, FL (February 23, 2023) – Lazydays (NasdaqCM: LAZY) today reported financial results for the fourth quarter and fiscal year ended December 31, 2022.

Fourth quarter 2022 revenue decreased to $243.5 million from $322.5 million in the fourth quarter of 2021.

Fourth quarter 2022 net loss was ($1.4) million, compared to net income of $16.9 million in the fourth quarter of 2021. Fourth quarter 2022 adjusted net income, a non-GAAP measure, was $0.9 million, compared to $20.2 million for the same period in 2021. Fourth quarter 2022 net loss per diluted share was ($0.24) compared to net income of $0.80 in the fourth quarter of 2021. Adjusted fourth quarter 2022 net loss per diluted share was ($0.02) compared to net income of $0.93 for the same period in 2021.

Full year 2022 revenue increased to $1.3 billion from $1.2 billion in 2021.

Full year 2022 net income was $66.4 million compared to $82.0 million in 2021. Full year 2022 adjusted net income was $64.1 million compared to $99.6 million in 2021. Full year 2022 net income per diluted share was $2.42 compared to $3.93 in 2021 and full year 2022 adjusted net income per diluted share was $3.05 compared to $4.82 in 2021.

As shown in the attached non-GAAP reconciliation tables included in this press release, the 2022 fourth quarter adjusted results exclude a net non-core charge of $0.22 related to the effects of changes in fair value of warrant liabilities, our LIFO adjustment, acquisition expenses and certain compliance, legal and executive transition costs. The 2021 fourth quarter adjusted results exclude a net non-core charge of $0.13 related to the effects of changes in fair value of warrant liabilities, our LIFO adjustment, and acquisition expenses. The 2022 full year adjusted results exclude a net non-core charge of $0.63 related to the effects of changes in fair value of warrant liabilities, our LIFO adjustment, acquisition expenses and certain compliance, legal and executive transition costs. The 2021 full year adjusted results exclude a net non-core charge of $0.89 related to the effects of changes in fair value of warrant liabilities, our LIFO adjustment, and acquisition expenses.

Corporate Development

On February 15, 2023, we acquired Findlay RV in Las Vegas, Nevada. Concurrent with the acquisition, we were awarded the Tiffin brand for the Las Vegas market. We estimate this store will add approximately $40 million in annualized revenue at steady state. With this addition, we operate 19 stores across the United States.

Balance Sheet Update and Share Repurchases

We ended the fourth quarter with $61.7 million in cash on hand. On February 21, 2023, we amended our credit facility and subsequently estimate total liquidity of approximately $165 million, including unfinanced real estate. The new agreement extends our facility to February 2027, increases our floorplan capacity to $525 million, increases our revolver capacity to $50 million and provides for higher advance rates on used inventory. Concurrently we retired all associated term and mortgage loans.

In December 2022, we acquired the real estate for our Elkhart and Nashville stores. These properties were purchased for approximately $24.5 million and were previously leased facilities recorded as finance leases on our balance sheet.

During the fiscal year ended December 31, 2022, we have deployed $44.5 million to repurchase approximately 2.7 million shares of common stock at a weighted average price of $16.51 per share. This represents 18.6% of shares outstanding. In December 2022, the Board of Directors authorized an additional $50.0 million for share repurchases, leaving a total of approximately $63.7 million available.

Warrant Expiry

On March 15, 2023, the warrants issued as part of our 2018 de-SPAC transaction will expire. Any warrants that have not been exercised on or prior to that date will automatically lapse. Assuming the exercise of all outstanding warrants, we would generate proceeds of approximately $33 million. Public warrant holders should work with their broker to exercise the warrants. For PIPE warrant holders, please email warrants@lazydays.com for assistance.

Conference Call Information:

The Company has scheduled a conference call at 8:30 AM Eastern Time on Thursday, February 23, 2023 that will also be broadcast live over the internet.

The conference call may be accessed by telephone at (877) 407-8029 / +1 (201) 689-8029. To listen live on our website or for replay, visit https://www.lazydays.com/investor-relations.

About Lazydays RV

As an iconic brand in the RV industry, Lazydays, The RV Authority, consistently provides outstanding RV sales, service, and ownership experience, which is why RVers and their families become Customers for Life. Lazydays continues to add locations at a rapid pace as it executes its geographic expansion strategy that includes both acquisitions and greenfields.

Since 1976, Lazydays has built a reputation for providing an outstanding customer experience with exceptional service excellence and unparalleled product expertise, along with being a preferred place to rest and recharge with other RVers. By offering the largest selection of RV brands from the nation’s leading manufacturers, state-of-the-art service facilities, and thousands of accessories and hard-to-find parts, Lazydays RV provides everything RVers need and want.

Lazydays Holdings, Inc. is a publicly listed company on the Nasdaq stock exchange under the ticker “LAZY.”

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as “project,” “outlook,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “may,” “seek,” “would,” “should,” “likely,” “goal,” “strategy,” “future,” “maintain,” “continue,” “remain,” “target” or “will” and similar references to future periods. Examples of forward-looking statements in this press release include, among others, statements regarding:

● Anticipated revenues from acquired and open point stores; and

● Anticipated availability of liquidity from our credit facility and unfinanced operating real estate.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events that depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements in this press release. The risks and uncertainties that could cause actual results to differ materially from estimated or projected results include, without limitation, future economic and financial conditions (both nationally and locally), changes in customer demand, our relationship with, and the financial and operational stability of, vehicle manufacturers and other suppliers, risks associated with our indebtedness (including available borrowing capacity, compliance with financial covenants and ability to refinance or repay indebtedness on favorable terms), acts of God or other incidents which may adversely impact our operations and financial performance, government regulations, legislation and others set forth throughout “Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in “Part I, Item 1A. Risk Factors” of our most recent Annual Report on Form 10-K, and from time to time in our other filings with the SEC. We urge you to carefully consider this information and not place undue reliance on forward-looking statements. We undertake no duty to update our forward-looking statements, including our earnings outlook, which are made as of the date of this release.

Non-GAAP Financial Measures

This presentation contains non-GAAP financial measures such as adjusted net income, adjusted diluted earnings per share, adjusted cost of goods sold, adjusted income before taxes, adjusted income tax benefit, adjusted SG&A, adjusted SG&A as a percentage of revenue, adjusted SG&A as a percentage of gross profit, adjusted operating income as a percentage of revenue, adjusted operating income as a percentage of gross profit, adjusted pre-tax income as a percentage of revenue and adjusted net income as a percentage of revenue. Non-GAAP measures do not have definitions under GAAP and may be defined differently by and not comparable to similarly titled measures used by other companies. As a result, we review any non-GAAP financial measures in connection with a review of the most directly comparable measures calculated in accordance with GAAP. We caution you not to place undue reliance on such non-GAAP measures, but also to consider them with the most directly comparable GAAP measures. We present cash flows from operations in the following tables, adjusted to include the change in non-trade floor plan debt to improve the visibility of cash flows related to vehicle financing. As required by SEC rules, we have reconciled these measures to the most directly comparable GAAP measures in the attachments to this release. We believe the non-GAAP financial measures we present improve the transparency of our disclosures; provide a meaningful presentation of our results from core business operations, because they exclude items not related to core business operations and other non-cash items; and improve the period-to-period comparability of our results from core business operations. These presentations should not be considered an alternative to GAAP measures.

Contact:

Angela Johnson

+1 (813) 204-4099

investors@lazydays.com

Results of Operations

(Dollar amounts in thousands except for share and per share data)

	For the Three Months Ended December 31						% Increase			For the year ended December 31						% Increase
	2022			2021			(Decrease)			2022			2021			(Decrease)
Revenues
New vehicle retail	$	137,729		$	174,748			(21.2	)%	$	777,807		$	725,114			7.3	%
Pre-owned vehicle retail		74,927			111,974			(33.1	)%		394,582			372,566			5.9	%
Vehicle wholesale		2,416			4,324			(44.1	)%		21,266			14,241			49.3	%
Finance and insurance		13,891			18,171			(23.6	)%		75,482			72,647			3.9	%
Service, body and parts, other		14,527			13,319			9.1	%		57,824			50,480			14.5	%
Total revenues		243,490			322,536			(24.5	)%		1,326,961			1,235,048			7.4	%
Cost of sales
New vehicle		115,155			140,129			(17.8	)%		632,316			586,876			7.7	%
Pre-owned vehicle		59,186			83,612			(29.2	)%		301,565			278,036			8.5	%
Vehicle wholesale		2,395			4,201			(43.0	)%		21,620			13,591			59.1	%
Finance and insurance		513			679			(24.4	)%		2,729			2,473			10.4	%
Service, body and parts, other		7,714			7,618			1.3	%		27,657			25,771			7.3	%
LIFO		4,153			3,402			22.1	%		12,383			4,811			157.4	%
Total cost of sales		189,116			239,641			(21.1	)%		998,270			911,558			9.5	%
Depreciation and amortization		4,420			4,135			6.9	%		16,758			14,411			16.3	%
Selling, general, and administrative expenses		47,649			52,533			(9.3	)%		222,218			184,985			20.1	%
Income from operations		2,305			26,227			(91.2	)%		89,715			124,094			(27.7	)%
Other income/expenses
PPP loan forgiveness		-			-						-			6,626			(100.0	)%
Floorplan interest expense		(3,534	)		(655	)		439.5	%		(8,596	)		(1,852	)		364.1	%
Other interest expense		(2,158	)		(2,112	)		2.2	%		(7,996	)		(6,648	)		20.3	%
Change in fair value of warrant liabilities		1,782			(621	)		(387.0	)%		12,453			(11,711	)		(206.3	)%
Inducement Loss on Warrant Conversion		-			-						-			(246	)		(100.0	)%
Total other income (expense)		(3,910	)		(3,388	)		15.4	%		(4,139	)		(13,831	)		(70.1	)%
Income before income tax expense		(1,605	)		22,839			(107.0	)%		85,576			110,263			(22.4	)%
Income tax expense		205			(5,943	)		(103.4	)%		(19,183	)		(28,242	)		(32.1	)%
Net income	$	(1,400	)	$	16,896			(108.3	)%	$	66,393		$	82,021			(19.1	)%
Dividends on Series A Convertible Preferred Stock		(1,210	)		(1,210	)		0.0	%		(4,801	)		(4,801	)		0.0	%
Net income attributable to common stock and participating securities	$	(2,610	)	$	15,686			(116.6	)%	$	61,592		$	77,220			(20.2	)%
EPS:
Basic	$	(0.24	)	$	0.86			(127.9	)%	$	3.47		$	4.43			(21.7	)%
Diluted	$	(0.24	)	$	0.80			(131.2	)%	$	2.42		$	3.93			(38.4	)%
Weighted average shares outstanding:
Basic		10,928,362			12,164,192			(10.2	)%		11,701,302			11,402,655			2.6	%
Diluted		10,928,362			14,719,764			(25.8	)%		12,797,796			12,852,318			(0.4	)%

NM - Not meaningful

Total Results Summary

	Three Months Ended						%			Year ended						%
	December 31, 2022						Increase			December 31, 2022						Increase
	2022			2021			(Decrease)			2022			2021			(Decrease)
Gross Margin
New Vehicle Retail		16.4	%		19.8	%		(342) bps			18.7	%		19.1	%		(36) bps
Pre-Owned Vehicle Retail		21.0	%		25.3	%		(432	)		23.6	%		25.4	%		(180	)
Vehicle Wholesale		0.9	%		2.9	%		(197	)		(1.7	)%		4.6	%		(623	)
Finance & Insurance		96.3	%		96.3	%		4			96.4	%		96.6	%		(21	)
Service, Body & Parts, Other		46.9	%		42.8	%		410			52.2	%		48.9	%		322
Total Gross Margin		22.3	%		25.7	%		(337	)		24.8	%		26.2	%		(142	)
Total Gross Margin (Ex-LIFO)		24.0	%		26.8	%		(272	)		25.7	%		26.6	%		(88	)
Unit Sales
New Vehicle Retail		1,501			1,835			(18.2	)%		8,603			8,930			(3.7	)%
Used Vehicle Retail		999			1,368			(27.0	)%		5,409			5,283			2.4	%
Total Retail Units Sold		2,500			3,203			(21.9	)%		14,012			14,213			(1.4	)%
Average Selling Price
New Vehicle Retail	$	91,758		$	95,231			(3.6	)%	$	90,411		$	81,200			11.3	%
Used Vehicle Retail		75,001			81,853			(8.4	)%		72,949			70,522			3.4	%
Average Gross Profit Per Unit (ex-LIFO)
New Vehicle Retail	$	15,040		$	18,866			(20.3	)%	$	16,912		$	15,480			9.2	%
Used Vehicle Retail		15,756			20,733			(24.0	)%		17,197			17,893			(3.9	)%
Finance and Insurance		5,351			5,461			(2.0	)%		5,192			4,937			5.2	%
Total Vehicle Retail		20,677			25,125			(17.7	)%		22,214			21,314			4.2	%
Revenue Mix
New Vehicle Retail		56.6	%		54.2	%					58.6	%		58.7	%
Pre-Owned Vehicle Retail		30.8	%		34.7	%					29.7	%		30.2	%
Vehicle Wholesale		1.0	%		1.3	%					1.6	%		1.2	%
Finance & Insurance		5.7	%		5.6	%					5.7	%		5.9	%
Service, Body & Parts, Other		5.9	%		4.2	%					4.4	%		4.0	%
		100.0	%		100.0	%					100.0	%		100.0	%
Gross Profit Mix
New Vehicle Retail		37.6	%		39.7	%					42.7	%		42.1	%
Pre-Owned Vehicle Retail		26.2	%		32.5	%					27.3	%		28.8	%
Vehicle Wholesale		0.0	%		0.1	%					(0.1	)%		0.2	%
Finance & Insurance		22.3	%		20.1	%					21.3	%		21.4	%
Service, Body & Parts, Other		13.9	%		7.6	%					8.8	%		7.5	%
		100.0	%		100.0	%					100.0	%		100.0	%

Other Metrics

	Adjusted						As Reported						Adjusted						As Reported
	Three months ended December 31,						Three months ended December 31,						Year ended December 31,						Year ended December 31,
	2022			2021			2022			2021			2022			2021			2022			2021
SG&A as a % of revenue		19	%		16	%		20	%		16	%		17	%		15	%		17	%		15	%
SG&A as a % of gross profit (Ex-LIFO)		81	%		61	%		80	%		61	%		65	%		56	%		65	%		56	%
Operating income as a % of revenue		3	%		9	%		1	%		8	%		8	%		11	%		7	%		10	%
Operating income as a % of gross profit		12	%		35	%		4	%		30	%		30	%		40	%		26	%		38	%
Pre-tax income as a % of revenue		1	%		8	%		-1	%		7	%		7	%		10	%		6	%		9	%
Net income as a % of revenue		0	%		6	%		-1	%		5	%		5	%		8	%		5	%		7	%

Other Highlights

	As of
	December 31, 2022		December 31, 2021
Store Count
Dealership		18		15
Service Center**		0		1
Days Supply*
New vehicle inventory		250		84
Used vehicle inventory		78		58

* Days supply calculated based on current inventory levels and a 90 day historical average cost of sales level.

** Dealership added to service center in Q4 2022

Financial Covenants

	Requirement	As of December 31, 2022
Fixed charge coverage ratio	Not less than 1.25 to 1	2.17 to 1
Leverage ratio	Not more than 3.0 to 1	0.57 to 1

Same-Store Results Summary

	Three months ended						%			Year ended						%
	December 31						Increase			December 31						Increase
	2022			2021			(Decrease)			2022			2021			(Decrease)
Revenue
New Vehicle Retail	$	131,200		$	174,748			(24.9	)%	$	682,077		$	725,114			(5.9	)%
Pre-Owned Vehicle Retail		71,209			111,974			(36.4	)%		360,173			372,566			(3.3	)%
Vehicle Wholesale		2,416			4,324			(44.1	)%		19,841			14,241			39.3	%
Finance & Insurance		13,464			18,171			(25.9	)%		67,680			72,647			(6.8	)%
Service, Body & Parts, Other		13,956			13,318			4.8	%		51,979			50,480			3.0	%
Total Revenue		232,245			322,535			(28.0	)%		1,181,750			1,235,048			(4.3	)%
Gross Profit
New Vehicle Retail	$	21,548		$	34,619			(37.8	)%	$	125,128		$	138,237			(9.5	)%
Pre-Owned Vehicle Retail		15,001			28,363			(47.1	)%		83,375			94,531			(11.8	)%
Vehicle Wholesale		21			124			(82.6	)%		(377	)		650			NM
Finance & Insurance		12,963			17,492			(25.9	)%		65,296			70,174			(7.0	)%
Service, Body & Parts, Other		8,023			6,610			21.4	%		27,182			24,710			10.0	%
LIFO		(4,153	)		(3,402	)		22.1	%		(12,383	)		(4,811	)		157.4	%
Total Gross Profit		53,403			83,806			(36.3	)%		288,221			323,491			(10.9	)%
Gross Margin
New Vehicle Retail		16.4	%		19.8	%		(339) bps			18.3	%		19.1	%		(72) bps
Pre-Owned Vehicle Retail		21.1	%		25.3	%		(426	)		23.1	%		25.4	%		(222	)
Vehicle Wholesale		0.9	%		2.9	%		(197	)		(1.9	)%		4.6	%		(646	)
Finance & Insurance		96.3	%		96.3	%		1			96.5	%		96.6	%		(12	)
Service, Body & Parts		57.5	%		49.6	%		786			52.3	%		48.9	%		335
Total Gross Margin		23.0	%		26.0	%		(299	)		24.4	%		26.2	%		(180	)
Total Gross Margin (Ex-LIFO)		24.8	%		27.0	%		(226	)		25.4	%		26.6	%		(114	)
Unit Sales
New Vehicle Retail		1,411			1,835			(23.1	)%		7,361			8,930			(17.6	)%
Used Vehicle Retail		947			1,368			(30.8	)%		4,847			5,283			(8.3	)%
Total Retail Units Sold		2,358			3,203			(26.4	)%		12,208			14,213			(14.1	)%
Average Selling Price
New Vehicle Retail	$	92,984		$	95,231			(2.4	)%	$	92,661		$	81,200			14.1	%
Used Vehicle Retail	$	75,195			81,853			(8.1	)%		74,308			70,522			5.4	%
Average Gross Profit Per Unit (ex-LIFO)
New Vehicle Retail	$	15,272		$	18,866			(19.1	)%	$	16,999		$	15,480			9.8	%
Used Vehicle Retail		15,840			20,733			(23.6	)%		17,201			17,893			(3.9	)%
Finance and Insurance		5,497			5,461			0.7	%		5,349			4,937			8.3	%
Total Vehicle Retail		20,998			25,125			(16.4	)%		22,428			21,314			5.2	%

NM - Not meaningful

Condensed Consolidated Balance Sheets

(Dollar amounts in thousands except for share and per share data)

	As of		As of
	December 31, 2022		December 31, 2021
Cash	$	61,687	$	98,120
Receivables, net		25,053		30,604
Inventories		378,881		242,906
Other current assets		11,228		4,005
Total current assets		476,849		375,635
Property and equipment, net		158,991		120,748
Goodwill and intangible assets, net		165,125		168,118
Other assets		29,753		33,627
Total assets	$	830,718	$	698,128
Floor plan notes payable, net		348,735		192,220
Other current liabilities		50,890		74,130
Total current liabilities		399,625		266,350
Financing liability, non-current portion, net		89,770		102,466
Long term debt, non-current portion, net		10,131		13,684
Other current liabilities		39,197		54,519
Total liabilities		538,723		437,019
Series A Convertible Preferred Stock		54,983		54,983
Stockholders’ Equity		237,012		206,126
Total liabilities and stockholders’ equity	$	830,718	$	698,128

Condensed Statements of Cash Flows

(Dollar amounts in thousands)

	For the year ended December 31, 2022			For the year ended December 31, 2021
Cash Flows From Operating Activities
Net income	$	66,393		$	82,021
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation		2,813			750
Bad debt expense		(526	)		128
Depreciation and amortization of property and equipment		9,480			8,386
Amortization of intangible assets		7,278			6,025
Amortization of debt discount		431			261
Non-cash lease expense		173			80
Loss (gain) on sale of property and equipment		(20	)		(156	)
Deferred income taxes		1,872			(1,428	)
PPP loan forgiveness		-			(6,626	)
Change in fair value of warrant liabilities		(12,453	)		11,711
Inducement loss on warrant conversion		-			246
Changes in operating assets and liabilities:
Receivables		6,512			(8,473	)
Inventories		(127,594	)		(105,511	)
Prepaid expenses and other		(613	)		37
Income tax receivable/payable		(6,725	)		595
Other assets		(1,146	)		(1,130	)
Accounts payable, accrued expenses and other current liabilities		(17,835	)		15,855
Total Adjustments		(138,353	)		(79,250	)
Net Cash (Used In) Provided By Operating Activities		(71,960	)		2,771

	For the year ended December 31, 2022			For the year ended December 31, 2021
Net cash provided by operating activities
As Reported	$	(71,960	)	$	2,771
Net borrowings on floor plan notes payable		148,180			73,097
Adjusted	$	76,220		$	75,868

Reconciliation of Non-GAAP Measures

(Dollar amounts in thousands except for share and per share data)

	Three months ended December 31, 2022
	As reported			(Gain)/Loss on fair value of warrant liabilities			LIFO			Acquisition expense			Severance and transition costs			Adjusted
Cost of goods sold	$	189,116					$	(4,153	)							$	184,963
Selling, general and administrative		47,649									(203	)		(299	)		47,147
Operating income		2,305						4,153			203			299			6,960
Change in fair value of warrant liabilities		1,782			(1,782	)											-
Income before taxes		(1,605	)		(1,782	)		4,153			203			299			1,268
Income tax (provision) benefit		205						(458	)		(46	)		(33	)		(332	)
Net income	$	(1,400	)	$	(1,782	)	$	3,695		$	157		$	266		$	936
Diluted earnings per share	$	(0.24	)													$	(0.02	)
Diluted share count		12.8

	Three months ended December 31, 2021
	As reported			(Gain)/Loss on fair value of warrant liabilities		LIFO			Acquisition expense			Severance and transition costs		Adjusted
Cost of goods sold	$	239,641				$	(3,402	)						$	236,239
Selling, general and administrative		52,533								(216	)		-		52,317
Operating income		26,227					3,402			216			-		29,845
Change in fair value of warrant liabilities		(621	)		621										-
Income before taxes		22,839			621		3,402			216			-		27,078
Income tax (provision) benefit		(5,943	)				(862	)		(55	)		-		(6,860	)
Net income	$	16,896		$	621	$	2,540		$	161		$	-	$	20,218
Diluted earnings per share	$	0.80												$	0.93
Diluted share count		12.9

	Year ended December 31, 2022
	As reported			(Gain)/Loss on fair value of warrant liabilities			LIFO			Acquisition expense			Severance and transition costs			Adjusted
Cost of goods sold	$	998,270					$	(12,383	)							$	985,887
Selling, general and administrative		222,218									(286	)		(900	)		221,032
Operating income		89,715						12,383			286			900			103,284
Change in fair value of warrant liabilities		12,453			(12,453	)											-
Income before taxes		85,576			(12,453	)		12,383			286			900			86,692
Income tax (provision) benefit		(19,183	)					(3,143	)		(73	)		(228	)		(22,627	)
Net income	$	66,393		$	(12,453	)	$	9,240		$	213		$	672		$	64,065
Diluted earnings per share	$	2.42														$	3.05
Diluted share count		12.8

	Year ended December 31, 2021
	As reported			(Gain)/Loss on fair value of warrant liabilities		LIFO			Acquisition expense			Severance and transition costs		Adjusted
Cost of goods sold	$	911,588				$	(4,811	)						$	906,777
Selling, general and administrative		184,235								(1,744	)		-		182,491
Operating income		124,094					4,811			1,744			-		130,649
Change in fair value of warrant liabilities		(11,711	)		11,711										-
Income before taxes		110,263			11,711		4,811			1,744			-		128,529
Income tax (provision) benefit		(28,242	)				(498	)		(180	)		-		(28,920	)
Net income	$	82,021		$	11,711	$	4,313		$	1,564		$	-	$	99,609
Diluted earnings per share	$	3.93												$	4.82
Diluted share count		12.9

* In periods where the change in fair value of warrants is a gain, the diluted EPS calculation is not affected by this line item.

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