Exhibit 99.2
FINANCIAL GUIDANCE SUMMARY
2008 Financial Guidance
(in millions, except per share amounts)
(in millions, except per share amounts)
Year Ended | ||||||||
December 31, 2008 | ||||||||
Range | ||||||||
Revenue | $ | 395.0 | $ | 415.0 | ||||
Earnings before interest, taxes, depreciation, amortization and other non-cash items (“Adjusted EBITDA”) (a) | 107.5 | 120.0 | ||||||
Adjusted EBITDA per diluted common share | $ | 1.73 | $ | 1.94 | ||||
Interest, taxes, depreciation, amortization and other non-cash items (b) | ||||||||
Interest income | 13.0 | 14.0 | ||||||
Depreciation and amortization | (31.0 | ) | (29.0 | ) | ||||
Non-cash advertising | (5.0 | ) | (5.0 | ) | ||||
Non-cash stock-based compensation | (23.0 | ) | (22.0 | ) | ||||
Income tax provision ( c ) | (25.0 | ) | (32.0 | ) | ||||
Net income | $ | 36.5 | $ | 46.0 | ||||
Net income per common share: | ||||||||
Basic | $ | 0.62 | $ | 0.78 | ||||
Diluted | $ | 0.59 | $ | 0.74 | ||||
Weighted-average shares outstanding used in computing net income per common share: | ||||||||
Basic | 59.0 | 59.0 | ||||||
Diluted | 62.0 | 62.0 |
Notes:
(a) | See Annex A — Explanation of Non-GAAP Financial Measures | ||
(b) | Reconciliation of Adjusted EBITDA to net income | ||
(c) | Income tax rate for 2008 is estimated to be approximately 41% of pretax income. The income tax provision excludes any benefit relating to any reversal in 2008 of the valuation allownce against deferred tax assets. |
Additional Information:
- | Quarterly distribution of revenue is estimated to be approximately $80 to $82 in Q1, $90 to 94 in Q2, $106 to $112 in Q3 and $119 to $127 in Q4 | ||
- | Adjusted EBITDA as a percentage of revenue is estimated to be approximately 18% to 19% in Q1, 23% to 24% in Q2, 30% to 31% in Q3 and 34% to 36% in Q4 | ||
- | Net Income as a percentage of revenue is estimated to be approximately 2.5% to 4.0% in Q1, 7.5% to 8.5% in Q2, 11.5% to 13% in Q3 and 12.5% to 15.0% in Q4 |