![]() 28 Exhibit 99.1 |
![]() ** * 156% $27.84 $10.88 Stock Price 77% 10% 43% Debt-to-capitalization 74% $33 $129 Debt 58% 19% 45% Working Capital % of Sales 41% $85 $143 Working Capital 93% $20.5 $10.6 Net Income 6.2% CAGR 43% $450 $315 Sales Improvement CY 2005E CY 1999 * At Spin-off Oct. 19, 1999 ** At close of Feb. 1, 2006 Improvements Since Spin-off 29 |
![]() 2 FY 2005E Revenues Operating Income Diluted EPS Free Cash Flow FCF = Cash from Operations less Capital Expenditures less Dividends paid $450.5 $33.5 $1.27 $28.0 $381.8 $21.9 $0.74 $21.6 +53% +72% $6.4 FY 2004 Revenues • Positives: shipment volume & pricing for nearly every business. • Large international oil & gas project shipments very strong. • Acquisitions +7% FY Operating Income • Positives: sales volume, customer pricing, and acquisitions. • Partial offsets: higher raw material costs, lower supplier performance & manufacturing productivity, and higher special charges. • Q404 included a $7.2 charge primarily for slow-moving inventory. EPS • US GAAP • Operating income improvement. • Q404 included 29¢ charge for the $7.2 slow-moving inventory. • Includes special charge of $0.06 in 2005; $0.01in 2004. FCF • 2005 used $7.4 for two new facilities. +18% |
CIRCOR INTERNATIONAL, INC.
RECONCILIATION OF KEY PERFORMANCE MEASURES TO COMMONLY USED
GENERALLY ACCEPTED ACCOUNTING PRINCIPLE TERMS
(in millions)
UNAUDITED
FY 2005E | ||||
FREE CASH FLOW [NET CASH PROVIDED BY OPERATING ACTIVITIES LESS CAPITAL EXPENDITURES LESS DIVIDENDS PAID] | $ | 28.0 | ||
ADD: Capital expenditures | 15.3 | |||
Dividends paid | 2.4 | |||
NET CASH PROVIDED BY OPERATING ACTIVITIES | 45.7 | |||
WORKING CAPITAL [CURRENT ASSETS LESS CASH AND CURRENT LIABILITIES] | $ | 85.0 | ||
ADD: Cash and cash equivalents | 31.2 | |||
Current Liabilities | 109.6 | |||
CURRENT ASSETS | $ | 225.8 | ||
WORKING CAPITAL AS % OF SALES | 19 | % | ||
NET CAPITALIZATION [TOTAL DEBT PLUS SHAREHOLDERS’ EQUITY LESSCASH AND CASH EQUIVALENTS, LESS INVESTMENTS] | $ | 313.2 | ||
LESS: Total debt | (33.5 | ) | ||
ADD: Cash and cash equivalents | 31.2 | |||
Investments | 0.1 | |||
TOTAL SHAREHOLDERS’ EQUITY | 310.90 | |||
ADD: Total debt | 33.50 | |||
TOTAL CAPITAL | $ | 344.40 | ||
TOTAL DEBT / TOTAL CAPITAL | 10 | % |