EXHIBIT 99.2
Q1 2006 Preliminary Consolidated Financial Results
(in millions, except per share amounts)
| | | | | | | | | |
| | | Range for Q1 2006 | |
| Revenue | | $ | 338.0 | | | $ | 339.0 | |
| | | | | | | | | |
| Adjusted EBITDA per diluted share | | $ | 0.18 | | | $ | 0.18 | |
| | | | | | | | | |
| Reconciliation of Adjusted EBITDA per diluted share to Net Income per diluted share: | | | | | | | | |
| Interest expense | | $ | — | | | $ | — | |
| Depreciation and amortization | | | 0.06 | | | | 0.06 | |
| Non-cash stock-based compensation | | | 0.04 | | | | 0.04 | |
| Non-cash advertising | | | 0.01 | | | | 0.01 | |
| Income tax provision | | | 0.02 | | | | 0.01 | |
| Minority interest in WebMD Health Corp. | | | — | | | | — | |
| | | | | | | | | |
| | | |
| Net income per diluted share | | $ | 0.05 | | | $ | 0.06 | |
| | | |
2006 Consolidated Financial Guidance Summary
(in millions, except per share amounts)
| | | | | | | | | |
| | | Range for FY 2006 | |
| Revenue | | $ | 1,380.0 | | | $ | 1,430.0 | |
| | | | | | | | | |
| Earnings before interest, taxes, non-cash and other items (“Adjusted EBITDA”) | | $ | 225.0 | | | $ | 255.0 | |
| | | | | | | | | |
| Reconciliation of Adjusted EBITDA per diluted share to Net Income per diluted share: | | | | | | | | |
| Interest expense | | $ | 3.0 | | | $ | 4.0 | |
| Depreciation and amortization | | | 75.5 | | | | 80.1 | |
| Non-cash stock-based compensation | | | 48.0 | | | | 50.0 | |
| Non-cash advertising | | | 7.3 | | | | 7.5 | |
| Income tax provision | | | 21.0 | | | | 22.6 | |
| Legal expense | | | 0.5 | | | | 0.5 | |
| Minority interest in WebMD Health Corp. | | | (0.3 | ) | | | 0.3 | |
| | | |
| Net income | | $ | 70.0 | | | $ | 90.0 | |
| | | |
| | | | | | | | | |
| Adjusted EBITDA per diluted share | | $ | 0.75 | | | $ | 0.85 | |
| | | | | | | | | |
| Net income per diluted share | | $ | 0.23 | | | $ | 0.30 | |
Notes:
| | * | | The 2006 guidance includes estimated expenses for Q1 2006, but does not reflect any projected expenses related to the on-going Department of Justice Investigation. |
| |
| | * | | Adjusted EBITDA per diluted share and net income per diluted share are both calculated on an assumed share count of approximately 299 million. |
| |
| | * | | Non-cash stock-based compensation expense considers the January 1, 2006 adoption of SFAS 123R, “Share-Based Payment.” |
| |
| | * | | The 2006 Guidance does not include the impact of the acquisition of Summex Corp. announced by WebMD Health on Monday, April 17, 2006. |
