Slide 1: First Quarter 2011 Earnings Call
First Quarter 2011 Earnings Call May 3, 2011
Slide 2: Forward-Looking Statements
Forward -Looking Statements Q1 2011 Earnings Call The following information contains forward -looking statements, including forward -looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward -looking statements include, but are not limited to, statem
Slide 3: Q1 2011 Highlights
Q1 2011 Highlights Q1 2011 Earnings Call Adjusted net income of $10.1 million (23 cents per share) compared to $6.0 million (14 cents per share) in Q1 2010, an increase of 68.6%; Q1 2011 results include the positive 1 cent per share effect of currency translation Net sales of $158.6 million compared
Slide 4: Orders and Backlog
Orders and Backlog Q1 2011 Earnings Call Orders Backlog $450.0 $200.0 $400.0 $350.0 $150.0 $300.0 $250.0 $100.0 $200.0 $3 9 9 $4 0 0 $3 6 7 $3 70 $3 4 9 $3 51 $159.0 $3 2 2 $3 2 7 $3 2 5 $150.0 $3 14 $2 9 1 $2 9 7 $2 8 1 $119.6 $50.0 $100.0 $50.0 $0.0 $0.0 Q1 2010 Q1 2011 2008 2008 2008 2008 2009 20
Slide 5: Revenue and Adjusted Operating Income
Revenue and Adjusted Operating Income Q1 2011 Earnings Call Revenue Adjusted Operating Income (1) $200.0 $20.0 $150.0 $15.0 $100.0 $10.0 $158.6 $16.7 $120.0 $50.0 $5.0 $10.6 $0.0 $0.0 Q1 2010 Q1 2011 Q1 2010 Q1 2011 Existing Businesses 17.6 % % Margin 8.8% 10.5% Acquisitions 13.3 % FX Translation 1.
Slide 6: Q1 2011 Sales and Orders by End Market
Q1 2011 Sales and Orders by End Market Q1 2011 Earnings Call Sales: $158.6 . million Orders: $159.0 . million Defense Defense Power Power 6% 7% Generation Generation General 12% 13% Industrial General 32% Industrial 36% Oil & Gas 16% Oil & Gas 23% Commercial Commercial Marine Marine 26% 29% Total Gr
Slide 7: Oil & Gas Market Perspective
Oil & Gas Market Perspective Q1 2011 Earnings Call Colfax Q1 2011 Sales & Orders Growth Sales Split Q1 2011 vs. Q1 2010 23% Total Organic O&G Sales 200% 72% Orders 99% 31% Highlights and Outlook Colfax Q1 2011 New project orders continuing to book; fueled by higher crude Orders Split oil prices Robu
Slide 8: General Industrial Market Perspective
General Industrial Market Perspective Q1 2011 Earnings Call Colfax Q1 2011 Sales Split Sales & Orders Growth Q1 2011 vs. Q1 2010 Total Organic 32% Sales 14% 13% General Industrial Orders 24% 18% Highlights and Outlook Colfax Q1 2011 Orders Split Sales and orders up for the quarter Order strength is
Slide 9: Power Generation Market Perspective
Power Generation Market Perspective Q1 2011 Earnings Call Colfax Q1 2011 Sales & Orders Growth Sales Split Q1 2011 vs. Q1 2010 12% Power Total Organic Gen. Sales 10% 10% Orders 58 % 58 % Highlights and Outlook Colfax Q1 2011 Growth in sales and orders, despite decision to exit certain Orders Split b
Slide 10: Defense Market Perspective
Defense Market Perspective Q1 2011 Earnings Call Colfax Q1 2011 Sales Split Sales & Orders Decline Q1 2011 vs. Q1 2010 7% Total Organic Defense Sales (8)% (8)% Orders (27)% (28)% Highlights and Outlook Colfax Q1 2011 Sales and orders declined in Q1 2011, as expected Orders Split Shipment and order a
Slide 11: Commercial Marine Market Perspective
Commercial Marine Market Perspective Q1 2011 Earnings Call Colfax Q1 2011 Sales & Orders Growth Sales Split Q1 2011 vs. Q1 2010 Total Organic Sales 21% 17% 26% Orders 35% 32% Comm. Marine Highlights and Outlook Colfax Q1 2011 Sales increase primarily driven by reduction in backlog Orders Split Order
Slide 12: Rosscor Overview
Rosscor Overview Q1 2011 Earnings Call Headquarters Hengelo, The Netherlands Products Multiphase pump (MPP) systems for upstream oil & gas applications Other engineered pump and compression systems Key Served Regions Russia, Kazakhstan, Southeast Asia Acquisition Rationale Logical extension to oil &
Slide 13: Strong Financial Condition
Strong Financial Condition Q1 2011 Earnings Call Strong balance sheet Debt of $84 million, principal payments of $10 million in 2011, matures in 2013 Cash of $45 million $118 million available on revolver Note: As of 10/1/2010 12
Slide 14: Income Statement Summary (Unaudited)
Income Statement Summary (Unaudited) Q1 2011 Earnings Call Three Months Ended Change April 1, 2011 April 2, 2010 $ % Orders $ 159.0 $ 119.6 $ 39.4 32.9 % Sales $ 158.6 $ 120.0 $ 38.6 32.2 % Gross Profit $ 53.3 $ 41.8 $ 11.5 27.5 % % of Sales 33.6% 34.8% SG&A Expenses $ 34.9 $ 29.5 $ 5.4 18.3 % R&D E
Slide 15: Appendix
Q1 2011 Earnings Call Appendix 14
Slide 16: Disclaimer
Disclaimer Q1 2011 Earnings Call Colfax has provided financial information that has not been prepared in accordance with GAAP. These non-GAAP financial measures are adjusted net income, adjusted net income per share, adjusted operating income, earnings before interest, taxes depreciation and amortiz
Slide 17: Q1 2011 vs. Q4 2010 Sales and Orders by End Market
Q1 2011 vs. Q4 2010 Sales and Orders by End Market Q1 2011 Earnings Call Sales Orders Total Growth (Decline) Organic Decline Total Growth Organic Growth (Decline) Commercial Marine 1 % (1)% Commercial Marine 38 % 35 % Oil & Gas 7 % (18)% Oil & Gas 7 % (1)% Power Generation (12)% (12)% Power Generati
Slide 18: Non-GAAP Reconciliation (unaudited)
Non-GAAP Reconciliation (unaudited) Q1 2011 Earnings Call Three Months Ended April 1, 2011 April 2, 2010 EBITDA Net income (loss) $ 6,555 $ (374) Interest expense 1,827 1,813 Provision for (benefit from) income taxes 2,950 (155) Depreciation and amortization 5,353 3,735 EBITDA $ 16,685 $ 5,019 EBITD
Slide 19: Non-GAAP Reconciliation (unaudited)
Non -GAAP Reconciliation (unaudited) Q1 2011 Earnings Call Three Months Ended April 1, 2011 April 2, 2010 Adjusted Net Income and Adjusted Earnings per Share Net income (loss) $ 6,555 $ (374) Restructuring and other related charges 1,977 4,039 Asbestos liability and defense costs 1,333 1,435 Asbesto
Slide 20: Sales & Order Growth (unaudited)
Sales & Order Growth (unaudited) Q1 2011 Earnings Call Sales Orders Backlog at Period End $ % $ % $ % Three months ended April 2, 2010 $ 120.0 $ 119.6 $ 281.3 Components of Change: Existing Businesses 21.1 17.6 % 27.2 22.7 % (0.4) (0.1)% Acquisitions 15.9 13.3 % 11.1 9.3 % 76.9 27.3 % Foreign Curren