Slide 1: 1Q 2009 Earnings Call
Exhibit 99.2 1Q 2009 Earnings Call May 8, 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: Q1 2009 Highlights
Q1 2009 Highlights Adjusted net income of $10.4 million (24 cents per share), an increase of 2.1% including negative currency effects of 5 cents per share Net sales of $136.3 million, an increase of 4.3% (organic growth of 17.9%) Adjusted operating income of $17.1 million, a decrease of 6.6% includi
Slide 4: Q1 2009 Highlights Continued: Solid Results
Q1 2009 Highlights Continued Solid Results for Q1 2009 Organic sales up 18% year over year, down 13% sequentially (Q4 and Q1 seasonally strongest and weakest, respectively) Supported by strong backlog entering 2009 Organic sales in four strategic end markets increased 24% to 45% Commercial marine –
Slide 5: Q1 2009 Highlights Continued: Global Business Conditions Weaken
Q1 2009 Highlights Continued Global Business Conditions Continued to Weaken in Q1 Organic orders declined 25% year over year, down 3% sequentially Decline driven by commercial marine (down 57%) and general industrial (down 28%) Decline in commercial marine orders includes cancellations of $6 million
Slide 6: Profit Protection Plans
Profit Protection Plans Rightsizing to support declining orders Organic sales growth over last 3 years (12%, 14% and 14%) supported by CBS initiatives Able to be flexible in a declining market environment Initial steps include reduction in temporary and contract workers Initiated cost reductions wor
Slide 7: Profit Protection Plans Continued
Profit Protection Plans Continued Expect to maintain margins Discretionary spending curtailed Evaluating additional cost savings measures; have contingency plans in place Based on visibility of 4 to 6 months, able to take preemptive actions as needed CBS activity continues in all areas Structuring b
Slide 8: Revenue and Adjusted EBITDA
Revenue and Adjusted EBITDA Revenue Adjusted EBITDA (1) $720.0 $120.0 $600.0 $100.0 $480.0 $80.0 $360.0 $60.0 $604.9 $105.6 $506.3 $40.0 $88.2 $240.0 $64.1 $345.5 $393.6 $54.8 $120.0 $20.0 $130.7 $136.3 $22.0 $20.5 $0.0 $0.0 2005 2006 2007 2008 - Q1 Q1 2005 2006 2007 2008 Q1 Q1 2008 2009 2008 2009 E
Slide 9: Orders and Backlog
Orders and Backlog Orders Backlog $720.0 $400.0 $600.0 $320.0 $480.0 $240.0 $360.0 $669.2 $337.3 $353.6 $581.5 $160.0 $292.8 $305.6 $240.0 $442.3 $370.4 $80.0 $179.3 $120.0 $118.3 $180.3 $120.8 $0.0 $0.0 2005 2006 2007 2008 - Q1 2008 Q1 2009 2005 2006 2007 2008 - Q1 2008 Q1 2009 Existing -- 17.7% 17
Slide 10: Q1 2009 Sales by End Market
Q1 2009 Sales by End Market Q1 2009 Sales: $136.3 million Global Navy Power 6% Generation 13% Total Growth Organic Growth General Industrial Commercial Marine 21% 45% 37% Oil & Gas 20% 25% Power Generation 11% 24% Oil & Gas 15% Global Navy 29% 32% General Industrial (14)% (2)% Total 4% 18% Commercia
Slide 11: Q1 2009 Orders by End Market
Q1 2009 Orders by End Market Q1 2009 Orders: $120.8 million Global Navy Total Growth Organic Growth 16% Commercial Marine (64)% (57)% General Industrial Oil & Gas 16% 22% 35% Power Power Generation (21)% (12)% Generation Global Navy 73% 75% 15% General Industrial (36)% (28)% Total (33)% (25)% Oil &
Slide 12: Strong Financial Condition
Strong Financial Condition Strong balance sheet Debt to adjusted EBITDA < 1 Debt of $95 million, principal payments of $5 million in 2009, matures in 2013 Cash = $34 million $130 million available on revolver Strong cash flow Adjusted EBITDA (TTM) of $104 million Strong balance sheet and credit avai
Slide 13: Income Statement Summary
Income Statement Summary Refer to Appendix for Non-GAAP reconciliation. __________________ Note: Dollars in millions. 12
Slide 14: Statement of Cash Flows Summary
Statement of Cash Flows Summary ____________________ Note: Dollars in millions. 13
Slide 15: 2009 Outlook Summary
2009 Outlook Summary Revenue Range (1) (2)% to (4)% 2009 Organic growth 2009 Total $525 million to $540 million EPS Range 2009 Net income per share $0.69 to $0.76 2009 Adjusted net income per share (2) $1.00 to $1.07 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 eee P| i a le ess) <> efit Q1 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 cost (income) and asbestos coverage litigation expense, certain legacy legal charges, certain due diligence costs, certain severance and asset impairmen
Slide 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three Months Ended April 3, 2009 March 28, 2008 EBITDA Net income $ 6,861 $ 6,798 Interest expense 1,846 4,497 Provision for income taxes 3,103 3,578 Depreciation and amortization 3,373 3,695 EBITDA $ 15,183 $ 18,568 EBITDA margin 11.1% 14.2% Adjusted EBITDA Net income $ 6,86
Slide 20: Non-GAAP Reconciliation
Non-GAAP Reconciliation 2008 2007 2006 2005 EBITDA Net (loss) income $ (571) $ 64,882 $ 94 $ 12,247 Interest expense 11,822 19,246 14,186 9,026 Provision for income taxes 5,438 39,147 3,866 6,907 Depreciation and amortization 14,788 15,239 11,481 11,430 EBITDA $ 31,477 $ 138,514 $ 29,627 $ 39,610 EB
Slide 21: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three Months Ended April 3, 2009 March 28, 2008 Adjusted Net Income and Adjusted Earnings per Share Net income $ 6,861 $ 6,798 Severance and asset impairment costs 661 - Asbestos liability and defense costs 1,645 278 Asbestos coverage litigation expense 2,966 3,139 Interest a
Slide 22: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three Months Ended April 3, 2009 March 28, 2008 Adjusted SG&A Expense Selling, general and administrative expenses $ 30,187 $ 28,507 Severance and asset impairment costs 661 - Adjusted selling, general and administrative expenses $ 29,526 $ 28,507 21.7% 21.8% ________________
Slide 23: Sales & Order Growth
Sales & Order Growth Sales Orders Backlog at $ % $ % Period End Three Months Ended March 28, 2008 $ 130.7 $ 180.3 $ 353.6 Components of Growth: Existing Businesses 23.4 17.9% (45.9) (25.5%) (9.8) (2.8%) Foreign Currency Translation (17.8) (13.6%) (13.6) (7.5%) (38.2) (10.8%) Total Growth 5.6 4.3% (5
Slide 24: Sales & Order Growth
Sales & Order Growth Sales Orders $ % $ % Year Ended December 31, 2005 $ 345.5 $ 370.4 Components of Growth: Organic Growth from Existing Businesses 40.7 11.8% 65.6 17.7% Acquisitions 4.8 1.4% 4.4 1.2% Foreign Currency Translation 2.6 0.8% 1.9 0.5% Total Growth 48.1 13.9% 71.9 19.4% Year Ended Decem
Slide 25: Non-GAAP Reconciliation
Non-GAAP Reconciliation Colfax Corporation 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 $ 0.69 $ 0.76 Severance and asset impairment costs * 0.01 0.01 Asbestos coverage l