Bluelinx Holdings Inc. · NYSE:BXC
Bluelinx — Q1 2011 Earnings Presentation
23 slides from Bluelinx's earnings presentation, May 5, 2011
Slide 1: BlueLinx Quarterly Review 1st Quarter 2011
BlueLinx Quarterly Review 1st Quarter 2011
Slide 2: Forward-Looking Statement Safe Harbor
2 BlueLinx Holdings Inc. Forward-Looking Statement Safe Harbor - This presentation includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All of these forward-looking statements are based on estimates and assumptions made by our management t
Slide 3: 1st Quarter Highlights
3 1st Quarter Highlights 1st Quarter Highlights Revenue Down 9.4% to $390.6 million Down 9.4% to $390.6 million Housing Starts Total starts decreased 9.9% from the same period last year; Single family starts decreased 21.3% from the same period last year Total starts decreased 9.9% from the same per
Slide 4: Introduction and Financial Review
4 Doug Goforth Chief Financial Officer and Treasurer Introduction and Financial Review
Slide 5: Quarterly Revenue
5 Quarterly Revenue 4Q '05 1Q '06 2Q '06 3Q '06 4Q '06 1Q '07 2Q '07 3Q '07 4Q '07 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 Specialty 539.5 580 603.3 553.5 460 456.5 500.8 462.9 381.5 354 402.8 375.9 278.7 233.9 250 257.9 206.2 233.1 286 264.3 221.4
Slide 6: 2011 Q1 Results
6 2011 Q1 Results revenue YTD '10 431.05 YTD '11 390.604 YTD '10 YTD '11 GM % 0.121 0.118 Operating Expense YTD '10 60.3 YTD '11 51.4 YTD '10 YTD '11 EBITDA -4.468 -2.193 Significant Special Items YTD '10 YTD '11 Gain on real estate $- $7.2 ($7.2)
Slide 7: Cash Flows
7 Cash Flows BXC used $62.8 million in operating cash flow for the quarter Unaudited Direct Method (in million's) (in million's) (in million's)
Slide 8: Debt
8 Debt Revolver $119 million excess availability as of April 2, 2011 LIBOR plus 3.75% as of April 2, 2011 $400 million facility with additional $100 million uncommitted accordion facility Matures January 7, 2014 No financial performance covenants provided Excess Availability is more than the greater
Slide 9: Cash Cycle
9 Cash Cycle TTM Cash Cycle days at 55, up 3 days sequentially and up 6 days compared to the prior year quarter 3Q '07 4Q '07 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 Inv 45.8 44.7 46.3 46.3 45.3 43.9 44 44.7 45.1 43.9 43.9 43.2 44.2 45 48 A/R 34.7 3
Slide 10: Business Review
10 George Judd Chief Executive Officer Business Review
Slide 11: 1st Quarter Focus
11 1st Quarter focus Customer care Gross Margin Cost discipline Long term strategic objectives: Profitably grow specialty revenues to 60+% of total sales Profitably manage structural Profitably outgrow the market over the long term Remarks
Slide 12: Appendix
12 Appendix TOPIC PAGE Profit and Loss Statement by Quarter 13 Revenues by Quarter 14 Channel Mix Analysis 15 Unit Volume by Quarter 16 Gross Margin by Quarter 17 Gross Margin % Analysis 18 Operating Expense by Quarter 19 Structural Product Price Trends 20 Reconciliation of GAAP Debt to Non-GAAP Net
Slide 13: Profit & Loss Statement by Quarter
13 Profit & Loss Statement by Quarter Profit & Loss Statement by Quarter
Slide 14: Revenues by Quarter
14 Revenues by Quarter Revenues by Quarter
Slide 15: Revenue Channel Mix Analysis
15 Revenue Channel Mix Analysis Revenue Channel Mix Analysis
Slide 16: Unit Volume by Quarter
16 Unit Volume by Quarter Unit Volume by Quarter
Slide 17: Gross Margin by Quarter
17 Gross Margin by Quarter Gross Margin by Quarter
Slide 18: Gross Margin % Analysis
18 Gross Margin % Analysis Gross Margin % Analysis
Slide 19: Operating Expense by Quarter
19 Operating Expense by Quarter Operating Expense by Quarter
Slide 20: Structural Products Price Trend
20 Structural Products Price Trend Source: Data from Random Lengths Publications, Inc., updated as of April 29, 2011 Source: Data from Random Lengths Publications, Inc., updated as of April 29, 2011 Source: Data from Random Lengths Publications, Inc., updated as of April 29, 2011 Source: Data from R
Slide 21: Reconciliation of GAAP to Non-GAAP
21 Reconciliation of GAAP to Non-GAAP Reconciliation of GAAP to Non-GAAP
Slide 22: Reconciliation of GAAP to Non-GAAP
22 Reconciliation of GAAP to Non-GAAP Reconciliation of GAAP to Non-GAAP
Slide 23: www.BlueLinxco.com
23 www.BlueLinxco.com