Bluelinx Holdings Inc. · NYSE:BXC
Bluelinx — Q1 2009 Earnings Presentation
22 slides from Bluelinx's earnings presentation, May 6, 2009
Slide 1: BlueLinx Quarterly Review 1st Quarter 2009
BlueLinx Quarterly Review 1st Quarter 2009
Slide 2: Safe Harbor Statement and Use of Non-GAAP and Pro Forma Information
BlueLinx Holdings Inc. Safe Harbor Statement and Use of Non-GAAP and Pro Forma Information 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 statemen
Slide 3: 1st Quarter Highlights
1st Quarter Highlights 1st Quarter Highlights Housing Starts Declined 51% from the same period last year Declined 51% from the same period last year Prices Average structural prices declined 12.6% from 1Q '08 to 1Q '09 Average structural prices declined 12.6% from 1Q '08 to 1Q '09 Unit Volume Total
Slide 4: Introduction - George Judd, Chief Executive Officer
George Judd Chief Executive Officer Introduction
Slide 5: 1st Quarter Focus
1st Quarter Focus Strengthen customer and supplier relationships Tight management of costs and working capital Gross margins Technology Georgia-Pacific supply agreement Long term strategic objectives: Profitably grow specialty revenues to 60+% of total sales Profitably manage structural while reduci
Slide 6: Financial Review - Doug Goforth, CFO
Doug Goforth Chief Financial Officer and Treasurer Financial Review
Slide 7: Quarterly Revenue
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 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 Structural 815.2 813.4 798.7 666.6 509.2 518.9 598.1 571.4 409.6 373 442.4 365.8 240.9 182.5 Oth
Slide 8: Cash Flows
Cash Flows BXC used $21.3 million in operating cash flow for the quarter Three Months Ended April 4, 2009 Unaudited Direct Method (in million's) (in million's) (in million's) (in million's)
Slide 9: Debt
Debt Revolver ($500 million facility) Matures May 7, 2011 $180 million excess availability as of April 4, 2009 Dividend restrictions apply if excess availability is less than $70 million No financial performance covenants provided excess borrowing availability is greater than $40 million Capital Spe
Slide 10: Cash Cycle
Cash Cycle TTM Cash Cycle days at 50 are flat sequentially and improved 3 days from year ago same quarters 3Q '07 4Q '07 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 Inv 45.8 44.7 46.3 46.3 45.3 43.9 44 A/R 34.7 32.9 34.5 35.3 34.7 32.4 33 A/P & OD's -28.7 -27.3 -28.3 -28.8 -27.8 -26.4 -27 MSGraph.Chart.8 MSG
Slide 11: Summary
Summary 1st Quarter Focused on cash management Aggressively managing receivables and inventory Tight controls on operating expenses Remain focused on improving gross margin Ended the quarter with $60 million in cash and cash equivalents Flexible debt facility allows continued execution of business s
Slide 12: Summary - George Judd, Chief Executive Officer
George Judd Chief Executive Officer Summary
Slide 13: Summary Remarks
Summary Remarks Primary focus is on cash management Successfully executing our value proposition to our customers and getting paid for the value we bring to them
Slide 14: Appendix
Appendix TOPIC PAGE Revenues by Quarter 15 Unit Volume by Quarter 16 Gross Margin by Quarter 17 Profit and Loss Statement by Quarter 18 Gross Margin % Analysis 19 Channel Mix Analysis 20 Structural Product Price Trends 21 Reconciliation of GAAP to Non-GAAP 22
Slide 15: Revenues by Quarter
Revenues by Quarter Revenues by Quarter
Slide 16: Unit Volume by Quarter
Unit Volume by Quarter Unit Volume by Quarter
Slide 17: Gross Margin by Quarter
Gross Margin by Quarter Gross Margin by Quarter
Slide 18: Profit & Loss Statement by Quarter
Profit & Loss Statement by Quarter Profit & Loss Statement by Quarter
Slide 19: Gross Margin % Analysis
Gross Margin % Analysis Gross Margin % Analysis
Slide 20: Revenue Channel Mix Analysis
Revenue Channel Mix Analysis Revenue Channel Mix Analysis
Slide 21: Structural Products Price Trend
Source: Data from Random Lengths Publications, Inc., updated as of May 1, 2009 Structural Products Price Trend Structural Products Price Trend Structural Products Price Trend Structural Products Price Trend
Slide 22: Reconciliation of GAAP to Non-GAAP
Reconciliation of GAAP to Non-GAAP Reconciliation of GAAP to Non-GAAP