Kadant Inc · NYSE:KAI

Kadant — Q1 2013 Earnings Presentation

28 slides from Kadant's earnings presentation, Apr 30, 2013

  1. Slide 1: First Quarter 2013 Business Review

    First Quarter 2013 Business Review Jonathan W. Painter, President & CEO Thomas M. O’Brien, Executive Vice President & CFO

  2. Slide 2: Forward-Looking Statements

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Forward-Looking Statements The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statements that involve a number of

  3. Slide 3: Use of Non-GAAP Financial Measures

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Use of Non-GAAP Financial Measures In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including increases or d

  4. Slide 4: Business Review

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. BUSINESS REVIEW Jonathan W. Painter President & CEO

  5. Slide 5: Q1 2013 Financial Highlights

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Q1 2013 Financial Highlights ($ Millions, except per share amounts) Q1 2013 Q1 2012 % CHANGE Revenue $76.2 $84.1 -9.4% Gross Margin 47.3% 45.6% n.a. Diluted EPS1 $0.47 $0.61 -23.0% Net Cash (cash less debt) $51.8 $30.9

  6. Slide 6: Acquisition of CBTI

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Acquisition of CBTI Acquired Brazilian licensee CBTI in April for approximately $8 million Average annual revenues over last five years were approximately $17 million* 2014 EBITDA expected to be approximately 14% of re

  7. Slide 7: Pending Acquisition of the Noss Group

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Pending Acquisition of the Noss Group Signed asset purchase agreement in April 2013 Sweden-based manufacturer of high-efficiency cleaning systems Highly regarded brand in stock cleaning equipment Strong aftermarket pos

  8. Slide 8: Q1 2013 Revenue By Product Line

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Q1 2013 Revenue By Product Line ($ Millions) Q1 2013 Q1 2012 % CHANGE EXCL. FX Stock-Preparation $23.0 $32.7 -29.7% -30.0% Doctoring, Cleaning, & Filtration 25.9 25.0 3.2% 2.2% Fluid-Handling 23.5 22.4 5.2% 5.6% Fiber-

  9. Slide 9: Q1 2013 Bookings By Product Line

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Q1 2013 Bookings By Product Line Percent change calculated using actual numbers reported in our Q1 2013 earnings release dated April 29, 2013. ($ Millions) Q1 2013 Q1 2012 % CHANGE EXCL. FX Stock-Preparation $36.6 $20.

  10. Slide 10: Bookings and Revenues

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Bookings and Revenues US$ (millions)

  11. Slide 11: Parts and Consumables Bookings and Revenues

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Parts and Consumables Bookings and Revenues US$ (millions)

  12. Slide 12: Regional Performance

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. REGIONAL PERFORMANCE

  13. Slide 13: North America Bookings and Revenues

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. North America Bookings and Revenues US$ (millions)

  14. Slide 14: Europe Bookings and Revenues

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Europe Bookings and Revenues US$ (millions)

  15. Slide 15: China Bookings and Revenues

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. China Bookings and Revenues US$ (millions)

  16. Slide 16: Rest-of-World Bookings and Revenues

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Rest-of-World Bookings and Revenues US$ (millions)

  17. Slide 17: Guidance for Continuing Operations

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Guidance for Continuing Operations Q2 2013 GAAP diluted EPS of $0.53 to $0.55 Q2 2013 revenues of $79 to $82 million FY 2013 GAAP diluted EPS of $2.00 to $2.10 FY 2013 revenues of $336 to $343 million

  18. Slide 18: Financial Review

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. FINANCIAL REVIEW Thomas M. O’Brien Executive Vice President & Chief Financial Officer

  19. Slide 19: Quarterly Gross Margins

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Quarterly Gross Margins

  20. Slide 20: Quarterly SG&A

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Quarterly SG&A

  21. Slide 21: 1Q12 to 1Q13 Adjusted Diluted EPS from Continuing Operations

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. 1Q12 to 1Q13 Adjusted Diluted EPS from Continuing Operations

  22. Slide 22: Cash Flow

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Cash Flow ($ Millions) 1Q13 1Q12 Income from Continuing Operations $5.3 $7.1 Depreciation and Amortization 2.0 2.2 Stock-Based Compensation 1.3 1.1 Other Items (0.7) (0.2) Change in Current Assets & Liabilities (excl.

  23. Slide 23: Key Working Capital Metrics

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Key Working Capital Metrics 1Q13 4Q12 1Q12 Days in Receivables 72 72 73 Days in Inventory 95 87 101 Days in Payables 51 47 57

  24. Slide 24: Working Capital and Cash Conversion Days

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Working Capital and Cash Conversion Days 1Q13 4Q12 1Q12 Working Capital % LTM Revenues* 14.8% 13.9% 13.7% Cash Conversion Days** 116 days 112 days 117 days *Working Capital is defined as current assets less current lia

  25. Slide 25: Cash and Debt

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Cash and Debt ($ Millions) 1Q13 4Q12 1Q12 Cash, cash equivalents, restricted cash $58.4 $54.6 $43.0 Debt (6.6) (6.9) (12.1) Net Cash $51.8 $47.7 $30.9

  26. Slide 26: Leverage Ratio

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Leverage Ratio * Calculated by adding or subtracting certain items, as required by our Credit Facility, from Adjusted EBITDA. Under our new Credit Facility entered into on August 3, 2012 total debt is defined as debt l

  27. Slide 27: Questions & Answers

    * KAI 1Q13 Business Review–April 30, 2013 © 2013 Kadant Inc. All rights reserved. Questions & Answers To ask a question, please call 877-703-6107 within the U.S. or +1-857-244-7306 outside the U.S. and reference 83375884. Please mute the audio on your computer.

  28. Slide 28: First Quarter 2013 Business Review

    First Quarter 2013 Business Review Jonathan W. Painter, President & CEO Thomas M. O’Brien, Executive Vice President & CFO

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