Slide 1: 2Q 2009 Earnings Call
Exhibit 99.2 2Q 2009 Earnings Call August 4, 2009
Slide 2: Forward-Looking Statements
Forward-Looking Statements 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, statements concerning Colfax's p
Slide 3: Q2 2009 Highlights
Q2 2009 Highlights Adjusted net income of $8.5 million (20 cents per share) compared to $13.9 million (32 cents per share) in Q2 2008, including negative currency effects of 4 cents per share Net sales of $129.2 million compared to $161.4 million in Q2 2008, a decrease of 20.0% (organic decline of 1
Slide 4: Q2 2009 Highlights Continued
Q2 2009 Highlights Continued Lower Results for Q2 2009 Organic sales down 10% year over year, down 8% sequentially Results impacted by reduced OEM demand and push-out of project deliveries Organic sales increased in commercial marine (up 7%) and global navy (up 26%) Global Business Conditions Contin
Slide 5: YTD 2009 Highlights
YTD 2009 Highlights Adjusted net income of $18.9 million (44 cents per share) compared to $24 million (55 cents per share) in 2008, including negative currency effects of 9 cents per share Net sales of $265.5 million compared to $292.1 million in 2008, a decrease of 9.1% (organic growth of 2.4%) Adj
Slide 6: Profit Protection Plan Update
Profit Protection Plan Update Continuing to rightsize to align capacity with demand Major actions since the beginning of the year: Reduced temporary, contract and full-time employees (approximately 150 associates) Implemented furlough programs in Germany (approximately 628 associates, 100 full-time
Slide 7: Revenue and Adjusted EBITDA
Revenue and Adjusted EBITDA Revenue Adjusted EBITDA (1) $300.0 $50.0 $40.0 $200.0 $30.0 $292.1 $49.5 $265.5 $20.0 $38.3 $100.0 $161.4 $27.5 $129.2 $10.0 $17.8 $0.0 $0.0 Q2 2008 Q2 2009 - YTD YTD Q2 2008 Q2 2009 - YTD YTD 2008 2009 2008 2009 Existing Businesses -- (10.2)% -- 2.4% % Margin 17.0% 13.8%
Slide 8: Orders and Backlog
Orders and Backlog Orders Backlog $400.0 $400.0 $300.0 $300.0 $200.0 $200.0 $384.0 $383.1 $369.1 $353.6 $337.3 $292.8 $305.6 $292.3 $224.9 $100.0 $188.8 $100.0 $104.1 $0.0 $0.0 Q2 2008 Q2 2009 YTD 2008 YTD 2009 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Existing -- (38.3)% -- (32.0)% Bu
Slide 9: Q2 2009 Sales and Orders by End Market
Q2 2009 Sales and Orders by End Market Sales: $129.2 million Orders: $104.1 million Global Navy Global Navy 8% 9% Power Generation General Power General 14% Industrial Generation Industrial 34% 15% 34% Oil & Gas 17% Oil & Gas 23% Commercial Commercial Marine Marine 27% 19% Total Growth Organic Growt
Slide 10: 2009 YTD Sales and Orders by End Market
2009 YTD Sales and Orders by End Market Sales: $265.5 million Orders: $224.9 million Global Navy Global Navy 7% Power 13% Generation General General 14% Industrial Industrial Power 34% 35% Generation 15% Oil & Gas 16% Oil & Gas 19% Commercial Commercial Marine Marine 19% 28% Total Growth Organic Gro
Slide 11: Strong Financial Condition
Strong Financial Condition Strong balance sheet Debt to adjusted EBITDA = 1 Debt of $94 million, principal payments of $5 million in 2009, matures in 2013 Cash = $38 million $136 million available on revolver Strong cash flow Adjusted EBITDA (LTM) of $94 million 10
Slide 12: Income Statement Summary
Income Statement Summary Three Months Ended Delta 7/3/2009 6/27/2008 $ % Orders $ 104.1 $ 188.8 $ (84.7) (44.9)% Sales $ 129.2 $ 161.4 $ (32.2) (20.0)% Gross Profit $ 44.6 $ 56.8 $ (12.2) (21.5)% % of Sales 34.5% 35.2% Adjusted SG&A Expenses $ 28.6 $ 31.6 $ (3.1) (9.7)% R&D Expense 1.7 1.6 0.1 6.9%
Slide 13: Income Statement Summary
Income Statement Summary Six Months Ended Delta 7/3/2009 6/27/2008 $ % Orders $ 224.9 $ 369.1 $ (144.2) (39.1)% Sales $ 265.5 $ 292.1 $ (26.6) (9.1)% Gross Profit $ 92.6 $ 105.0 $ (12.4) (11.8)% % of Sales 34.9% 35.9% Adjusted SG&A Expense $ 58.1 $ 60.2 $ (2.0) (3.4)% R&D Expense 3.1 3.0 0.1 4.6% Op
Slide 14: Statement of Cash Flows Summary
Statement of Cash Flows Summary Six Months Ended 7/3/2009 6/27/2008 Net income (loss) $ 11.2 $ (24.6) Non-cash expenses 7.7 4.3 Change in working capital and accrued liabilities (5.9) (32.8) Other 4.9 (3.9) Total Operating Activities $ 17.9 $ (57.0) Capital expenditures $ (5.9) $ (9.1) Other 0.1 0.1
Slide 15: 2009 Outlook Summary
2009 Outlook Summary Revenue Range (1) (6)% to (8)% 2009 Organic growth 2009 Total $515 million to $530 million EPS Range 2009 Net income per share $0.57 to $0.64 2009 Adjusted net income per share (2) $0.93 to $1.00 Assumptions Asbestos coverage litigation $12 million Asbestos liability and defense
Slide 16: Well Positioned for the Future
Well Positioned for the Future Proven Application Serving Fast Global Leader in Specialty Expertise in Solving Growing Infrastructure Fluid Handling Products Critical Customer Needs Driven End Markets Experienced Management Leading Brand Names Team in Place to Grow CBS-Driven Culture Focused Generat
Slide 17: Appendix
Colfax Appendix Q2 2009 Earnings Call 16
Slide 18: Disclaimer
Disclaimer Adjusted net income, adjusted net income per share, adjusted operating income and adjusted EBITDA exclude asbestos liability and defense costs (income) and asbestos coverage litigation expenses, certain legacy legal charges, certain due diligence costs, restructuring and other related cha
Slide 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three Months Ended Six Months Ended July 3, 2009 June 27, 2008 July 3, 2009 June 27, 2008 EBITDA Net income (loss) $ 4,366 $ (31,399) $ 11,227 $ (24,601) Interest expense 1,786 3,236 3,632 7,733 Provision (benefit) for income taxes 2,142 (12,679) 5,245 (9,101) Depreciation an
Slide 20: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three Months Ended Six Months Ended July 3, 2009 June 27, 2008 July 3, 2009 June 27, 2008 Adjusted Net Income and Adjusted Earnings per Share Net income (loss) $ 4,366 $ (31,399) $ 11,227 $ (24,601) Restructuring and other related charges 486 - 1,147 - IPO-related costs - 57,
Slide 21: Sales & Order Growth
Sales & Order Growth Sales Orders $ % $ % Three Months Ended June 27, 2008 $ 161.4 $ 188.8 Components of Growth: Existing Businesses (16.4) (10.2)% (72.3) (38.3)% Foreign Currency Translation (15.8) (9.8)% (12.4) (6.6)% Total Growth (32.2) (20.0)% (84.7) (44.9)% Three Months Ended July 3, 2009 $ 129
Slide 22: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three Months Ended Six Months Ended July 3, 2009 June 27, 2008 July 3, 2009 June 27, 2008 Adjusted SG&A Expense Selling, general and administrative expenses $ 28,586 $ 35,776 $ 58,112 $ 64,283 Legacy legal adjustment - 4,131 - 4,131 Adjusted selling, general and administrativ
Slide 23: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of Projected 2009 Net Income Per Share to Adjusted Net Income Per Share Amounts in Dollars (unaudited) EPS Range Projected net income per share - fully diluted $ 0.57 $ 0.64 Actual first half restructuring and other related charges 0.02 0.02 Estimated second ha