Slide 1: Fiscal 2009 Unaudited Fourth Quarter & Full-Year Results
Agilysys, Inc. (Nasdaq: AGYS) Fiscal 2009 Unaudited Fourth Quarter & Full-Year Results June 5, 2009
Slide 2: Forward looking statements & non-GAAP financial information
Forward looking statements & non-GAAP financial information Forward-Looking Language This presentation contains certain management expectations, which may constitute forward-looking information within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities and Exchang
Slide 3: Q4 review: highlights
Q4 review: highlights Revenue decreased 19.6% from Q4 FY08 to $155.5M - market for enterprise IT hardware and solutions was weak Gross margin increased to 25.9% from 24.2% in prior year quarter on a higher proportion of software and services revenue and rebates SG&A, excluding depreciation and amort
Slide 4: Q4 review: consolidated results
Q4 review: consolidated results Statement of Operations ($Mil., except per share) Three Months Ended March 31 2009 2008 % Net sales $155.5 $193.4 (19.6%) Cost of goods sold $115.2 $146.5 (21.4%) Gross profit $40.3 $46.9 (14.0%) 25.9% 24.2% SG&A (excl. depr. & amort.) $42.0 $49.1 (14.4%) Depreciation
Slide 5: Q4 review: revenue by segment
HSG RSG TSG 20.5 23.2 149.7 HSG RSG TSG 23.6 20 111.9 Q4 review: revenue by segment Q4 FY08 ($Mil.) Q4 FY09 ($Mil.) Demand environment for large IT infrastructure solutions was challenging and impacted TSG revenue disproportionately compared to other AGYS segments Hospitality Solutions Group ("HSG")
Slide 6: Revenue mix
Q4 review: revenue mix Q1FY08 Q2FY08 Q3FY08 Q4FY08 Q1FY09 Q2FY09 Q3FY09 Q4FY09 Software & services as % of total 0.294 0.253 0.244 0.266 0.285 0.289 0.306 0.339 Software & services revenue 36.9 49 60.6 51.4 51.2 49.5 68.5 52.8 Software and Services Mix ($Mil.) Software and services revenue is a focu
Slide 7: Hospitality (HSG)
Q4 review: Hospitality ("HSG") HSG Segment Profit ($Mil.) Three Months Ended March 31 2009 2008 % Net sales $23.6 $20.5 15.1% Cost of goods sold $9.3 $8.4 10.7% Gross profit $14.3 $12.1 18.2% 60.6% 59.0% SG&A (excl. depr. & amort.) $10.0 $11.2 (10.7%) Depreciation & amortization $1.2 $1.2 0.0% Asset
Slide 8: Retail (RSG)
Q4 review: Retail ("RSG") RSG Segment Profit ($Mil.) Three Months Ended March 31 2009 2008 % Net sales $20.0 $23.2 (13.8%) Cost of goods sold $15.8 $18.0 (12.2%) Gross profit $4.2 $5.2 (19.2%) 21.0% 22.4% SG&A (excl. depr. & amort.) $5.2 $5.1 2.0% Depreciation & amortization $0.0 $0.0 nm Asset impai
Slide 9: Technology (TSG)
Q4 review: Technology ("TSG") TSG Segment Profit ($Mil.) Three Months Ended March 31 2009 2008 % Net sales $111.9 $149.7 (25.3%) Cost of goods sold $89.0 $121.4 (26.7%) Gross profit $22.9 $28.3 (19.1%) 20.5% 18.9% SG&A (excl. depr. & amort.) $18.3 $21.3 (14.1%) Depreciation & amortization $4.1 $8.0
Slide 10: Corporate
Q4 review: Corporate Corporate Segment ($Mil.) Three Months Ended March 31 2009 2008 $ Net sales $0.0 $0.0 $0.0 Cost of goods sold $1.2 ($1.2) $2.4 Gross profit ($1.2) $1.2 ($2.4) SG&A (excl. depr. & amort.) $8.5 $11.5 ($3.0) Depreciation & amortization $1.1 $1.0 $0.1 Asset impairment charges $0.0 $
Slide 11: FY09 review: consolidated results
FY09 review: consolidated results Statement of Operations ($Mil., except per share) Twelve Months Ended March 31 2009 2008 % Net sales $730.7 $760.2 (3.9%) Cost of goods sold $532.0 $581.7 (8.5%) Gross profit $198.7 $178.5 11.3% 27.2% 23.5% SG&A (excl. depr. & amort.) $179.0 $172.9 3.5% Depreciation
Slide 12: FY09 review: summary balance sheet performance
FY09 review: summary balance sheet performance Cash at year-end was $36.2M - a decrease of $36.2 million from 12/31/08 A/R generated $19.7M of cash A/P generated $16.5M of cash Floor plan financing payments consumed $71.7M of cash Days sales outstanding deteriorated from 69 days at 12/31/08 to 88 da
Slide 13: Segment: trailing twelve months (TTM)
Segment: trailing twelve months ("TTM") Mar '08 Jun Sep Dec Mar '09 EBITDA 9 10 9.7 10.9 14.3 EBITDA Margin 0.106 0.104 0.101 0.112 0.143 Mar '08 Jun Sep Dec Mar '09 Organic 84.8 96.2 96.1 96.6 99.6 HSG Revenue ($Mil.) HSG Adjusted EBITDA1 ($Mil.) Mar '08 Jun Sep Dec Mar '09 Organic 129.7 147.6 143.
Slide 14: Segment: trailing twelve months (TTM)
Segment: trailing twelve months ("TTM") TSG Revenue ($Mil.) TSG Adjusted EBITDA1 ($Mil.) Mar '08 Jun Sep Dec Mar '09 Organic 42 44.4 45.9 44.1 41.1 Corp Expenses2 ($Mil.) Mar '08 Jun Sep Dec Mar '09 Organic 545.6 570.5 552.7 546.6 508.9 Mar '08 Jun Sep Dec Mar '09 EBITDA 28.8 28.2 36 38.5 36.1 EBITD
Slide 15: AGYS: trailing twelve months (TTM)
AGYS: trailing twelve months ("TTM") Mar '08 Jun Sep Dec Mar '09 EBITDA 5.7 7.1 11.9 19.2 19.7 EBITDA Margin 0.0075 0.009 0.015 0.025 0.027 Mar '08 Jun Sep Dec Mar '09 Organic 760.2 814.3 792 768.6 730.7 Adjusted EBITDA excl. charges2 ($Mil.) Additional notes Excludes results from TSG's Asian operat
Slide 16: FY10 positioning & guidance
FY10 positioning & guidance Well Positioned for FY10 Company eliminated over $35M in annualized cost in FY09 New organization structure provides streamlined decision making and reduced overhead Cost structure is aligned with current demand outlook New credit facility enhances strong working capital
Slide 17: Fiscal 2009 Unaudited Fourth Quarter & Full-Year Results
Agilysys, Inc. (Nasdaq: AGYS) Fiscal 2009 Unaudited Fourth Quarter & Full-Year Results June 5, 2009
Slide 18: Reconciliation of adjusted EBITDA to net income
Reconciliation of adjusted EBITDA to net income AGILYSYS, INC. RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME Three Months Ended Twelve Months Ended (In thousands) March 31, March 31, 2009 2008 2009 2008 (Unaudited) (Unaudited) (Unaudited) Net (loss) income $ (113,788) $ (4,328) $ (284,134) $ 3,659