Cimpress Plc · NASDAQ:CMPR
Cimpress — Vistaprint — Q3 FY2012 Earnings Presentation
76 slides from Cimpress's earnings presentation, Apr 30, 2012
Slide 1: Q3 Fiscal Year 2012 Earnings Presentation & Financial Results Supplement
Exhibit 99.2 Exhibit Q3 Earnings & April Financial Fiscal 26,99.2 Presentation, 2012 Year Results 2012Supplement Commentary
Slide 2: About this earnings commentary document
This document is Vistaprint’s third quarter fiscal year 2012 earnings commentary. As noted last quarter, Vistaprint has ceased to provide pre-recorded audio presentations based on the relative popularity of our downloadable presentations and transcripts. We have streamlined our commentary to a singl
Slide 3: Safe Harbor Statement
Commission. Safe This Litigation of expectations statements products the operational caused and key from general April failure expand operations; employees Harbor presentation litigation; by economic 26, toReform acquisitions; of as shop and our 2012,” Statement are our a of result changes unanticip
Slide 4: Safe harbor and non-GAAP note
Please read the above safe harbor statement. Additionally, a detailed reconciliation of GAAP and non-GAAP measures is posted in the appendix of the Q3 fiscal 2012 earnings presentation that accompanies these remarks.
Slide 5: Presentation sections and call details
Presentation Operational Strategic Financial Q4 FY13 Supplementary Reconciliation Live 5:15 Link Hosted www.vistaprint.com Robert 3Ernst guidance p.m. Q&A from Teunissen expectations Keane by: highlights performance Eastern the Session: results Organization Organization: President IR of information
Slide 6: Presentation organization
This presentation is organized into the following categories: • General commentary and review of Vistaprint’s Q3 FY2012 performance • Updates from the quarter in light of the company’s well-communicated investment strategy • Review of financial results • Financial guidance • Supplementary graphics o
Slide 7: Quarterly revenue and EPS results
* Per Quarterly Consolidated Webs Albumprinter Organic GAAP $0.97 $0.01 $0.19 $0.24 $0.26 $0.29 $0.31 $0.32 $0.36 $0.38 $0.43 $0.51 $0.63 $0.75 $0.82 $0.89 $164 $170 $204 $212 $209 $234 $258 $300 Q4 Revenue Non-GAAP related Please FY10 diluted revenue see EPS* torevenue and the Q1 Financial reconcil
Slide 8: Q3 results commentary
Our Q3 results reflect another strong quarter of performance this fiscal year. They demonstrate our ability to execute to our plans to invest for growth in our traditional business and to integrate our two recently acquired subsidiaries. Organic revenue was $243.6 million, and consolidated revenue i
Slide 9: Q3 Organic Highlights
Albumprinter Q3 Organic Continued 30%+ 24%Highlights growth growth business 20%+ inand inTTM new constant (excluding Webs unique customer o First currency customers Albumprinter acquisition full quarter growth to 13.8 to and o Integration 2.4 million Webs) million plans on schedule 5
Slide 10: Operational performance commentary
Solid operational performance in our organic business was central to our strong quarter. We added 2.4 million new customers in the organic business, the second quarter in a row of more than 30% year over year growth. We had over 13 million unique customers transacting with us in the past 12 months i
Slide 11: Long-term strategic initiatives
Global Core Life World Continued Customer LTV-based Manufacturing: Adjacent Home Nickelodeon Time Growth and Class Emerging market Value Value: Family investment marketing: Manufacturing partnership Initiatives improvements Proposition Based initiatives product Market in continued Marketing core sub
Slide 12: Strategic initiatives progress
We continued to make progress in Q3 toward our long-term strategic initiatives: • In our customer value initiative, we introduced higher-quality substrates for our postcards product line and prepared for similar introductions in other product lines for Q4. We also continued to focus on customer serv
Slide 13: Organizational announcement
Finance HRManufacturing Organizational Marketing Legal Announcement Asia Pacific Capabilities Development (Technology) CEO 7
Slide 14: Executive leadership changes
As described in our earnings press release and 8-K, today we announced that Wendy Cebula, chief operating officer has decided to step down from the COO role effective July 1, 2012 to assume an ongoing role in Vistaprint’s executive development group. After twelve years of success as a leader of Vist
Slide 15: Summary: Q3 operational and strategic review
Long-term Summary: Strong On Continue track Q3to toperformance Operational competitive meet focusFY on 2012 long-term & advantage Strategic targets growth for &Review shareholder organic business value 8
Slide 16: Operational and strategic summary
To summarize our operational and strategic performance, we are pleased with our Q3 results. We are confident we are putting into place the right strategy to enable Vistaprint to remain a strong growth company for years to come. We are at the early part of a multi-year effort. We believe in our abili
Slide 17: Q3 Consolidated Financial Metrics
Q3 Consolidated Quarter Revenue 26% 21% GAAP •0.1% *decrease ** 9Webs $0.01 $11.2 $0.29 Financial Non-GAAP FY growth y/y net IPNet 2012: million Diluted Ended with organic of •margin $257.6 Income metrics 98% 54% y/y Key our 03/31/2012 •adjusted EPS 27% $62.2 constant y/y vs. global million Financia
Slide 18: Third quarter financial commentary
Turning to financials, Vistaprint generated revenues of $257.6 million in the third quarter, reflecting a 26% year over year increase. In organic constant-currency terms, excluding Albumprinter and Webs, this reflects 21% year over year growth for the business, in line with the constant-currency exp
Slide 19: Q3 Consolidated, Organic and Acquired Company Results
Q3 Consolidated $257.6 $2.3M $11.8M $243.6M $0.19 $0.01 GAAP $0.29 Non-GAAP $(0.05) Vistaprint Notes: •negatively alignment 10 Albumprinter Non-GAAP FY$0.01 $(0.04) 18% EPS 2012: Revenue 20% 21% Organic of impacted y/y EPS $0.33 Webs y/y Organic adjusted $(0.14) y/y results growth growth growth Albu
Slide 20: Organic versus acquisition results commentary
The charts above separate our results on an organic basis versus the impact of the Albumprinter and Webs acquisitions for revenue, GAAP EPS and Non-GAAP EPS. For the initial reporting periods following these transactions, we believe this level of transparency is helpful for investors to understand h
Slide 21: Geographic and segment revenue
Geographic Consolidated Albumprinter Asia-Pacific (millions) $12.1 $7.8 $10.5 $8.2 $7.0 $5.5 $77.7 $63.6 $119.2 $51.9 Q3 $11.8 $15.4 $15.7 $17.0 $87.7 6% 39% 55% Revenue Note: segment. Please Dollar. 11 FY2012 of$86.6 $88.4 $105.3 $7.1 of$13.7 Constant $56.4 total see $139.8 total results $77.8 reco
Slide 22: Revenue by geography commentary
Revenue performance by geography, inclusive of Albumprinter and Webs revenues, was as follows: • North American revenue was $142.0 million, reflecting 23% growth year over year as reported as well as in constant currency. This revenue is inclusive of the $2.3 million of revenue from the Webs acquisi
Slide 23: Consolidated Income Statement Comparison to Prior Year
Consolidated (as 3.0% 10.8% 13.8% 37.9% 34.5% Q3 12.6% 8.8% 11.2% 32.7% 34.7% Cost 12 aFY2011 Income FY2012 of percentage revenue Statement Marketing of revenue) Comparison and selling to Prior Technology Year and development General and administrative Income from operations
Slide 24: Year-over-year income statement commentary
Looking at the Q3 fiscal 2012 income statement versus Q3 of fiscal 2011, one can see that as a percent of revenue: • Cost of revenue decreased 20 basis points year over year to 34.5% of revenue resulting in gross margin of 65.5%. Excluding Albumprinter and Webs, cost of revenue would have decreased
Slide 25: Consolidated Income Statement Comparison to Prior Quarter
Consolidated (as Q3 3.0% 10.8% 13.8% 37.9% 34.5% Q2 10.9% 9.1% 9.9% 36.9% 33.2% CostaFY2012 Income of percentage revenue Statement Marketing of revenue) Comparison and selling to Prior Technology Quarter and development General and administrative Income from operations
Slide 26: Sequential income statement commentary
Looking sequentially at the Q3 fiscal year 2012 income statement versus the prior quarter, Q2 of fiscal 2012, one can see that as a percent of revenue, all P&L cost lines were higher as a percent of revenue due to the sequential seasonality in our business. Q2 has typically been our highest revenue
Slide 27: Organic Operational Metrics: Orders and Average Order Value
Operational Organic (Excludes Average $36.63 $37.75 8.3 $36.17 7.0 $35.38 6.5 $34.23 5.8 4.8 5.0 5.3 5.6 Q4 4.0 4.2 FY11 14 Q1 $34.79 $33.31 5.9 4.8 FY12 Q2 $36.38 $36.03 Order Albumprinter Q3 $34.56 Metrics FY12 Q4 Value Q1 $34.69 FY12 Orders Q2and Q3 $34.61 Webs) (M) Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 28: Orders and average order value commentary
Vistaprint’s organic business continued to show strong performance. Please note that none of the figures on this slide include Albumprinter or Webs. • Total orders processed in the quarter were approximately 7.0 million reflecting growth of 21% year over year. • Average order value was $35.38, a 2%
Slide 29: Organic Operational Metrics: New Customers and COCA
Operational Organic (Excludes New Implied Advertising 3.0 30 2.9 $26 $27 2.5 $24 25 $23 2.0 $21 20 $18 1.5 10 51.0 0.5 0.0 15$$0 35 $22 5% $26 24% 23% $21 18% 30% $24 20% 15% 10% Customers $$0% $22 COCA 35% $26 21% 25% Albumprinter Metrics as 22% 27% 21% %(million) of21% Revenue 20% and Webs) 20% 20
Slide 30: New customer and implied COCA commentary
Additional customer metrics for the business on an organic basis, for the period ending March 31, 2012, are as follows: • Quarterly new customer adds were approximately 2.4 million, reflecting 33% year over year growth over the approximately 1.8 million new customer adds in Q3 of last fiscal year. •
Slide 31: Historical Organic TTM Customer Metrics
Historical Organic TTM* (Quarterly) 12.9 7.4 8.4 9.0 10.6 11.1 11.4 11.9 7.0 4.0 3.6 Q2 As Y/Y TTM Implied *TTM New Customers *trailing 16 % FY11 7.7 7.2 4.2 3.9 Growth 13.8 Customers Unique New Repeating ofrepeating Unique 4.5 Retention* Unique twelve Q3 Revenue Customers 4.8 Repeating FY11 Custome
Slide 32: Unique customer metrics commentary
Our unique customer metrics for the core business on a trailing twelve month basis are as follows: • On a TTM basis, unique customer count was 13.8 million, reflecting 24% year over year growth of unique customers. • First-time unique customers in the TTM period ending March 31, 2012 grew 25% year o
Slide 33: Historical Organic Average Customer Spend
Historical Organic $100 $98 $70 $54 Y/Y Q2 Customer Average FY11-FY16, FY11 $99 $72 $71 $54 Growth $102$73 $69 $55 Spend Customer Q3 $70 Revenue $100 $55 long-term FY11 $70 Per per $100 $53 $72 Spend: Unique New Repeat Q4 Driver $52 $73 FY11 target $54 2%New Metrics $98 3% 4% Customer $71 (2%) $54 Q
Slide 34: Average spend per unique customer commentary
Average spend per unique customer for the core business on a trailing twelve month basis developed as follows: • Average spend per unique customer during the TTM period ending March 31, 2012 was $69, reflecting a decline from the last several quarters. We believe this slight decline is due in part t
Slide 35: Consolidated Balance Sheet and Cash Flow Highlights
Consolidated Balance Quarterly Cash Free Capital as Trailing Share Shares Average *Total ** operating compensation 18Financial % FCF cash of Flow and flow purchase repurchase purchased expenditures revenue =Twelve sheet cost cash profit flow** cash Cash from & results per ROIC (in expense equivalent
Slide 36: Cash, free cash flow and ROIC commentary
Cash and cash equivalents were approximately $52.1 million as of March 31, 2012. During the quarter, Vistaprint generated $9.6 million in cash from operations, compared with $33.7 million in the third quarter of fiscal 2011. Free cash flow was $(0.3) million in the third quarter, down from $27.8 mil
Slide 37: Consolidated Balance Sheet Highlights
Consolidated Balance Cash Goodwill Total Current Long-term Shareholders’ Treasury 18 and assets current liabilities liabilities Sheet shares cash and debt $588.0 assets intangible Equity Highlights highlights, equivalents $306.0 $126.5 (in$148.1 $590.3 millions) $103.5 $281.9 $322.5 $140.5 assets $1
Slide 38: Balance sheet commentary
Over the last few quarters, we have discussed our intent to leverage our balance sheet in order to fund strategic investments such as acquisitions and share repurchases. The balance sheet highlights, shown here, reflect the impact of these investments. Goodwill and intangible assets are up significa
Slide 39: Consolidated Financial Guidance
Financial Consolidated (as *Non-GAAP FY12 ending Revenue Organic EPS GAAP 37.8 The based 20 operations: Millions, ofCompany growth million April compensation Q4 EPS share 06/30/2012 constant $1,018— growth Guidance* FY12 except 26, $0.92—$1.04 adjusted share exclusions (decline) (diluted) count is20
Slide 40: Financial guidance commentary
The table above is Vistaprint’s financial guidance as of April 26, 2012. This guidance reflects our expected market opportunity and our ongoing commitment to making investments for growth and competitive advantage. Vistaprint specifically disclaims any obligation to update any forward-looking statem
Slide 41: Consolidated Financial Guidance (continued)
Financial Consolidated (as Revenue Organic GAAP 37.8 The intangible FY12 ending EPS *Non-GAAP 21Millions, ofCompany growth million April Q4 EPS share 06/30/2012 constant $1,018 growth Guidance* FY12 assets except 26, $0.92 adjusted share exclusions (decline) (diluted) count is2012) — from and provid
Slide 42: Guidance assumptions commentary
We are providing the assumptions noted on our guidance slide to facilitate comparisons with non-GAAP adjusted net income per diluted share. • Based on these assumptions, for the full fiscal year 2012, non-GAAP adjusted EPS, is expected to be between $1.71 and $1.83, and excludes expected acquisition
Slide 43: Capital Expenditures Guidance
Capital Consolidated $101M 25% FY $63M 22 2007 3% %63M Expenditures $37M 8% FY 2008 14% $76M 22 Consolidated 16% FY$101M Guidance 2009 3% 7% FY $37M 6% 2010 (as $60M of 15% FY April 2% 2011 $50M 26, 7%FY 2012) 6% 2012-High 15% Expressed 3% 9% FYas 2012-Low 3%percent 5% 1%of2% revenue 2% 6%FY2% 2012
Slide 44: Capital expenditures commentary
This chart shows capital expenditures in dollars and as a percentage of revenue for the past several years, and also shows our expectations for 2012 at the midpoint of our revenue guidance range. We expect capital expenditures as a percentage of revenue and in absolute dollars to increase in 2012 ov
Slide 45: Preliminary Thoughts on FY13
Preliminary CAGR) Today and $14M Combined 23 acquisitions). in weFY16 FY12 want GAAP thoughts organic Combined to We net provide on income expect GAAP FY13 non-GAAP early the dilution EPS Asvisibility following of target April estimated netof on income 26, impact $5.00 certain 2012 todilution Over f
Slide 46: FY13 preliminary commentary
Please see preliminary commentary on fiscal 2013 in the slide above. Additional details about the acquisition and interest expense items that we expect to impact fiscal 2012 and fiscal 2013 net income are outlined in the following slide. These are preliminary thoughts on FY13 as of April 26, 2012. W
Slide 47: Preliminary Thoughts on FY13 (cont.)
Preliminary Acquisition Interest Currency Acquisition-related Amortization Tax Total FY FY12 FY13 24 12 item net Non-gAAp GAAP Non-GAAP GAAP expense related income gain and thoughts Early of Expectation onInterest acquision-related related to impact Albumprinter Expectation Early alignment View oper
Slide 48: Acquisition and interest expense impact commentary
This table shows: • Our current expectation for the FY12 impact of the Webs and Albumprinter acquisitions and interest expense to both GAAP and non-GAAP net income • Our preliminary view of the expected FY13 impact of the FY12 Webs and Albumprinter acquisitions and interest expense to both GAAP and
Slide 49: Summary
Summary Continued On Well-positioned 25 track for Solid execution fullQ3 to fiscal capitalize results ofyear strategy on large via disciplined market opportunity investments
Slide 50: Summary commentary
In summary, we are pleased to have delivered solid third quarter results. We are on track with our long-term strategy to improve our customer value, to drive further customer acquisition through lifetime value based marketing initiatives, to advance our manufacturing capabilities and to expand into
Slide 51: Q&A Session
Q&A Session Please go to the Investor Relations section of www.vistaprint.com for the live Q&A call at 5:15 pm EST on January 26, 2012
Slide 52: Thank you
We’d like to thank you for your time and attention, and we look forward to answering questions and comments on our live call at 5:15pm Eastern time.
Slide 53: Q3 Fiscal Year 2012 Financial Results Supplement
Q3 Fiscal Year 2012 Financial Results Supplement
Slide 54: Revenue
Revenue Albumprinter 21% 26% $257.6 $299.9 $212.4 $208.8 $203.7 $234.1 $164.3 $166.0 $194.6 $145.1 $135.1 Q4 Q1 Q2 Q3 FY09 29% FY10 30% FY11 22% YTD 27% 28 FY09 FY10 FY11 FY12 ORGANIC including y/y $770 $817 $516 $670 growth (millions) Non-US Albumprinter constant Webs currency US & Websy/y growth
Slide 55: Total Organic Revenue Growth
Total Organic (Excludes 25% 21% 30% 35% 40% 45% 50% Reported Constant-Currency 15% 20% Q4 0% 5% 10% FY09 36% currency Note: Please Dollar. 29 FY09 constant-currency reported constant- Company Constant FY10 seegrowth Q1 Albumprinter reconciliation FY11 FY10 28% currency Organic YTD Q2 constant-curren
Slide 56: Segment Organic Constant Currency Growth
Segment Organic Constant 64% APAC 45% Europe North 22% 70% Q1 30 FY10 58% 48% 21% 60% America Growth Currency Q2 56% 38% 17% 50%FY10 45%Organic 28% 18% 40% Q3 38% 27% 15% 30%FY10 43%Q1 30% 16% 20% 35% 21% 10% FY11 39%Q2 22% 18% 0% 45% 21% 17% FY11 37% 20%Q321% 40% FY11 Q4 FY11 Q1 FY12 Q2 FY12 Q3 FY1
Slide 57: Consolidated Gross Profit and Margin
Consolidated Gross 66.3% 65.1% $127 $155 $169 $200 $106 $85 Q4 FY09 31 FY09 $92 $133 $105 62.8% Margin Profit 66.8% 65.3% Q1 $133 $108 (millions) FY10 FY10 65.5% and$134 Gross 64.2% Q2 63.1% GM FY10 Profit FY11 %63.6% Q364.8% FY10 64.1% Q4 YTD 63.6% FY10 65.4% 63.1% Q1 FY11 63.9% Q2 FY11 63.2%Q3 FY1
Slide 58: Consolidated GAAP Net Income and Margin
Consolidated GAAP 10.90% 11.30% 13.80% 8.90% $27 7.10% $32 $34 $16 $23 $15 $12 $13 $8 Q4 $0 FY09 32 0.10% FY09 6.30% 3.80% $14 $11 $56 9.70% Net 10.60% Q1 FY10 6.90% Income FY10 $68(millions) and Q2 FY11 FY10 Net $82 Margin Q3 GAAP YTD FY10 Net $40.1 Q4Margin FY10 Q1 FY11 Q2 FY11 Q3 FY11 Q4 FY11 Q1
Slide 59: Consolidated Non-GAAP Adjusted Net Income and Margin
Consolidated Non-GAAP 14.4% 17.3% 13.8% 12.7% 9.6% $28 10.5% $34 $19 $21 $18 Q4 $11 $13 4.4% $16 FY09 *Non-GAAP expense 33 FY09 $20 $17 9.4% $76 $40 $38 12.9% related 6.1% Q1 FY10 12.6% Adjusted FY10 adjusted to$91 the Q2 FY11 Net alignment net FY10 Income* Income income $105 Q3of YTD FY10 per (mill
Slide 60: Consolidated Share-Based Compensation
Share-Based Consolidated $5.5 $5.7 $6.4 $6.7 $7.6 $4.8 Q4 *FY09 ** or *** announced 34Share-based FY2010. Q2 FY09 Q2 $5.3 $5.1 $20.2 FY2010 FY2011 $5.6 $4.9 Q1 inFY10 Compensation* FY10 November compensation $5.3 $5.0 SBC SBC $23.2 Q2 includes includes FY10** FY11 2010. (SBC) (millions) aa$22.4 non-
Slide 61: Organic Revenue Seasonality
Revenue Organic (Excludes Small $284 $209 $234 $166 $195 $204 Q4 $135 *$145 35Home FY09 $244 $212 $164 Business and Seasonality Q1 Albumprinter $170 family FY10 Marketing revenue Q2 FY10 and Home are Webs) Q3calculated FY10 and Family* Q4using FY10aQ1 product FY11format-based Q2 FY11 Q3approach FY11
Slide 62: Q3 FY2012 Organic Bookings by Marketing Channel
Q3 FY Organic (excludes ~2.4 Our 3rd Based Other Permission-Based and Channels First-time Paid Search Direct Partners 36 In Party Partners Own Repeat Other million email email URL 2012 Channels Permission- Albumprinter Order Type-In Type- Order Our new Bookings Bookings: and Own customers Bookings:
Slide 63: Consolidated Q3 Capital Expenditure Breakdown
Consolidated Q3 35% Land/Facilities1 28% 1Mfg 32Other3 37 All Land, ITCapital CapEx: infrastructure, &37% manufacturing Automation building Expenditure $8.5M2and software Equipment and construction, Breakdown automation and office leasehold equipment, equipment improvements, including offset and fur
Slide 64: Appendix: Reconciliation of GAAP to Non-GAAP Financial Measures
Including a Reconciliation of GAAP to Non-GAAP Financial Measures Appendix
Slide 65: About non-GAAP financial measures
About To financial constant-currency related property, denominated as The on measures (continued 39 defined these supplement presentation non-GAAP intangibles, non-GAAP measures plant that above onrevenue are next and Vistaprint’s of and most organic financial by page) equipment, and non-GAAP financ
Slide 66: About non-GAAP financial measures (continued)
About non-GAAP Vistaprint’s continued… GAAP Management should) 40 financial rely management upon provides measures GAAP financial these believes statements also measures non-GAAP have that facilitated ofthese operations financial non-GAAP management’s measures and cash financial flow. as internal a
Slide 67: Reconciliation: Net Income, Annual
Reconciliation: Net FY GAAP YTD compensation Share-based related Amortization acquired Webs assets Non-GAAP Adjusted *Fiscal *Note: 41 2003 Income IPNet tax share-based 2005 transfer intangible FY Net effect Income –$473 2004 non-GAAP Income of Annual and GAAP $1,017 $3,440 FY $0 $473 ————————— comp
Slide 68: Reconciliation: Net Income, Quarterly
Reconciliation: .Net Fiscal Year Q4 GAAP Share-based Amortization Compensation* acquired Webs assets Adjusted Non-GAAP *Note: Income 42 Fiscal Q1 Income 2009 IPNet Q2 share-based Year Transfer intangible Net Q3 Income –$4,764 2010 $19,460 of Quarterly Q4 GAAP $1,017 Q1 Fiscal $14,696 —————————— comp
Slide 69: Reconciliation: Diluted EPS, Annual
Reconciliation: Diluted FY GAAP YTD Share-based Per Amortization intangible Webs Non-GAAP Income Weighted used *Note: (millions) 43 2006 Share* inIPNet share-based com Per Earnings Transfer FY average assets Income Share Adjusted utinp Compensation 2007 ofGAAP acquired Per —————— gshares FY Per comp
Slide 70: Reconciliation: Earnings Per Share, Quarterly
Reconciliation: Earnings Fiscal Q4 GAAP $0.33 Share $0.10 Compensation Amortization intangible — Non-GAAP $0.43 Income Weighted 45.029 *Note: 44 Q1 —$0.41 $0.29 $0.12 Share-based Fiscal Net Q2 share-based 45.561 Per —Per average assets Q3 Income Share Adjusted $0.59 $0.14 $0.73 Year — Diluted of Q4
Slide 71: Reconciliation: Free Cash Flow
Reconciliation: (in Three March 2012 Net Purchases equipment Capitalization development Free 45 thousands) cash cash 2011 Months 31,provided flow of March 2012 property, intangibles costs of Ended $Free 2011 (325) software 31, by (1,411) Cash Nine operating plant $ assets 27,804 and Flow (1,568) Mon
Slide 72: Total Revenue Reconciliation, Quarterly
Total Reconciliation: Q4 FY2009 Reported Currency currency Impact constant Revenue acquisitions, Note: U.S. 46 Q1 dollar. Company Constant-currency Q2 ofFY2010 currency 31% growth revenue impact acquisitions Q3in31% FY10 constant Constant-Currency in rate, 9% FY2010 growth (7%) constant 32% Q4 4% ex
Slide 73: Total Revenue Reconciliation, Annual
Totaldollar. Reconciliation: FY2009 Reported Currency Impact Revenue Note: U.S. 47 Company Constant-currency ofFY2010 growth revenue impact acquisition Constant-Currency in rate, 7% FY2011 growth constant (2%) to exgrowth acquisition, revenue 29% YTD —currency (1%) 30% FY2012 ingrowth constant Reven
Slide 74: Reconciliation: Non-US revenue
Reconciliation: Non-US revenue Currency Consolidated in Impact growth Organic currency Note: U.S. 48 constant dollar. Constant-currency of ingrowth Constant-Currency Revenue 44% impact acquisition constant currency reported revenue 48% in22% Growth constant currency 48% 44% to growth 10% 22% 41% rev
Slide 75: Non-US Reconciliation: Q3 FY2012
Non-US Reconciliation: Q3 Reported Company Currency Impact Revenue constant Note: U.S. 49 FY2012 dollar. Constant-currency ofcurrency Constant-Currency growth revenue impact acquisition US Non-US in rate, —growth constant 3%to ex(2%) growth acquisition, Total revenue 23% currency Revenue 31% ingrowt
Slide 76: Geographic Reconciliation: Q3 FY2012
Geographic Reconciliation: Q3 Reported Company Currency Revenue Note: U.S. 50 FY2012 dollar. Constant-currency growth revenue impact Segment North in —growth America constant 5% Constant-Currency (7%) revenue 23%Europe currency 2% 29%growth Asia-Pacific 47% 23%Revenue is 26%34% estimated 40% Total G