V2x, Inc. · NYSE:VVX
V2x — Vectrus — Q1 2016 Earnings Presentation
12 slides from V2x's earnings presentation, May 11, 2016
Slide 1: Vectrus First Quarter 2016 Results
VECTRUS FIRST QUARTER 2016 RESULTS KEN HUNZEKER CHIEF EXECUTIVE OFFICER AND PRESIDENT MATT KLEIN SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER MAY 11, 2016
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 (THE "ACT"): CERTAIN MATERIAL PRESENTED HEREIN INCLUDES FORWARD-LOOKING STATEMENTS INTENDED TO QUALIFY FOR THE SAFE HARBOR FROM LIABILITY ESTABLISHED BY THE ACT. THESE FORWARD-LOOKING STATEMENTS IN
Slide 3: Q1 2016 Highlights
Q1 2016 HIGHLIGHTS • Strong first quarter results o Revenue increased 19% to $310.7 million o Operating margin of 3.8% o Diluted EPS of $0.61; an increase of 33% compared to Q1 2015 o Diluted EPS of $0.61 increased 30% compared to Q1 2015 adjusted diluted EPS of $0.47 o Net cash provided by operatin
Slide 4: Vectrus Update
VECTRUS UPDATE • Re-competes remain a priority in 2016 o K-BOSSS o APS-5 Kuwait/Qatar o Maxwell BOS • Awarded the re-competition of the Enterprise Legacy Voice and Information System (ELVIS) contract approx. $12 million • New Business o Opportunities are materializing on the AFCAP IDIQ vehicle o App
Slide 5: Q1 2016 Financial Results
Q1 2016 FINANCIAL RESULTS First Quarter 2016 Q1 Q1 (in millions, except operating margin and diluted EPS) 2016 2015 vs. 2015 Funded Orders $ 605.2 $ 143.7 $ 461.5 Revenue $ 310.7 $ 260.9 $ 49.8 Operating Income $ 11.8 $ 9.4 $ 2.4 Operating Margin 3.8 % 3.6 % 0.2 % Net cash provided by or (used) in o
Slide 6: Backlog
BACKLOG1 ($B) $3.0 $2.6 $2.5 $2.5 $2.5 $2.4 $2.4 $2.0 (2) $1.9 $1.8 $1.5 $1.7 $1.5 $1.5 $1.0 $0.5 $0.7 $0.7 $0.9 $0.7 $1.0 $- Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Funded Unfunded • Total backlog $2.5 billion as of April 1, 2016 o Funded backlog $1.0 billion o Unfunded backlog $1.5 billion (1) Tot
Slide 7: Updated 2016 Guidance Summary
UPDATED 2016 GUIDANCE SUMMARY (Updated) (Prior) (Updated) 2016 Mid (Prior) (Updated) 2016 2016 Adjusted Variance (in millions, except operating margin and diluted EPS) 2016 Guidance 2016 Guidance Mid-point Mid-point 20151 to 2015 %Var Revenue $1,110 to $ 1,190 $1,150 to $ 1,190 $ 1,150 $ 1,170 $ 1,1
Slide 8: Vectrus First Quarter 2016 Results
VECTRUS FIRST QUARTER 2016 RESULTS KEN HUNZEKER CHIEF EXECUTIVE OFFICER AND PRESIDENT MATT KLEIN SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
Slide 9: Appendix
f APPENDIX
Slide 10: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES The primary financial performance measures we use to manage our business and monitor results of operations are revenue trends and operating income trends. In addition, we consider adjusted operating income, adjusted operating margin, adjusted net income, adjusted
Slide 11: Reconciliation of Non-GAAP Measures (Cont.)
RECONCILIATION OF NON-GAAP MEASURES (CONT.) (in thousands, except operating margin and adjusted operating margin) Three Months Ended (in thousands) Three Months Ended April 1, March 27, April 1, March 27, Adjusted Operating Income (Non-GAAP Measure) 2016 2015 Free Cash Flow (Non-GAAP Measure) 2016 2
Slide 12: Reconciliation of Non-GAAP Measures (Cont.)
RECONCILIATION OF NON-GAAP MEASURES (CONT.) Year Ended Year Ended December 31, (In thousands, except for share and per share data) December 31, (In thousands) 2015 Adjusted Net Income and Adjusted Diluted Revenue $ 1,180,684 Earnings Per Share (Non-GAAP Measure) 2015 Net income $ 30,973 1 Year Ended