Management believes excluding such items presents the Tiffany Paloma's X earrings third quarter and year-to-date results on a more comparable basis to the corresponding period in the prior year, thereby providing investors with an additional perspective to analyze the results of Tiffany Paloma's X Earrings and Necklace Set of the Company at October 31, 2010. The following table reconciles GAAP net earnings from continuing operations and net earnings from continuing operations per diluted share ("EPS") to the non-GAAP net earnings from continuing operations and net earnings from continuing operations per diluted share, as adjusted: The Company reports information in accordance with U.S. Generally Accepted Accounting Principles ("Tiffany Bracelets"). Internally, management monitors its sales performance on a non-GAAP basis that eliminates the positive or negative effects that result from translating international sales into U.S. dollars ("constant-exchange-rate basis"). Management believes this constant-exchange-rate basis provides a more representative assessment of sales performance and provides better comparability Tiffany Paloma's X pendant reporting periods.
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