Gibraltar Industries, Inc. · NASDAQ:ROCK
Gibraltar Industries — Q2 2010 Earnings Presentation
9 slides from Gibraltar Industries's earnings presentation, Aug 4, 2010
Slide 1: Second Quarter 2010 Investor Review
Second Quarter 2010 Investor Review August 4, 2010
Slide 2: Forward Looking Statement
2 FORWARD LOOKING STATEMENT The Company wishes to take advantage of the Safe Harbor provisions included in the Private Securities Act of 1995 (the Act). Certain information set forth in this presentation contains forward-looking statements within the meaning of the Act that are based, in whole or in
Slide 3: Gibraltar Today
Gibraltar Today 3 Channels Products Distribution Storage, Mailboxes, Soffits, Trims, Flashing, 45% Metal Roofing, Rainware, Fasteners, Vents, Retail HVAC Components, Structural Connectors, 45% Lath, Support Components, Framing Direct Components, Corner Bead 10% Distribution Grating, Stairing, Treads
Slide 4: Highlights
Highlights 4 Diluted EPS Grows $0.06 vs. Q2 2009 • From $0.07 to $0.13 before special charges • Increased gross margin • Decreased interest and tax expenses Free Cash Flow • 1st Half 2010 strong at 8% of revenues. Debt Reduction to 29% debt-to-cap • Revolving credit facility has zero drawn Increased
Slide 5: YOY Profit Improvement
YOY Profit Improvement 5 YTD YTD Q210 Q209* Q210 Q209* Revenues • Unit volumes nearly equivalent for both Revenues $191.8 $349.3 $357.1 comparative periods $190.8 • No significant recovery in housing starts thus +1% (2)% far through 2010 Operating Income Operating • Q2: Improved gross margin off
Slide 6: Net Income / EPS
Net Income / EPS 6 YTD YTD Q210 Q209* Var Q210 Q209* Var Operating income ** $ 12.2 $ 14.3 $ (2.1) $ 14.7 $ 6.5 $ 8.2 Net interest (4.7) (5.1) 0.4 (10.3) (10.4) 0.1 Other non-operating income (exp) 0.1 0.1 - 0.1 0.1 - Income tax (expense) benefit (3.5) (7.1) 3.6 (1.9) 0.2 (2.1) Net income (loss)- co
Slide 7: Positive Cash Flow
Positive Cash Flow 7 1H10 1H09 Net income (loss) from continuing operations $ 1.5 $ (18.9) Depreciation and amortization 13.3 13.0 Non-cash intangible impairment charge, net of deferred tax benefit (0.2) 14.8 Compensation expense of stock-based plans 2.7 2.5 Non-cash charges to interest expense 3.1
Slide 8: Net Debt Reduction Continued
Net Debt Reduction Continued 8 Jun 10 Dec 09 Dec 08 Dec 07 Short-Term Debt $ 0.4 $ 0.4 $ 2.7 $ 3.0 Long-Term Debt 206.6 256.9 353.6 484.6 Total Debt 207.0 257.3 356.3 487.6 Cash & Cash Equivalents 26.8 23.6 11.3 35.3 Net Debt $ 180.2 $ 233.7 $ 345.0 $ 452.3 Total Debt / Capitalization 29% 33% 39% 46
Slide 9: Q & A Session
Q&A Session Second Quarter Earnings