Exhibit 99.3
FINANCIAL GUIDANCE SUMMARY
2008 Financial Guidance
(in millions, except per share amounts)
(in millions, except per share amounts)
Nine Months Ended | Quarter Ended | Year Ended | ||||||||||||||||||
September 30, 2008 | December 31, 2008 | December 31, 2008 | ||||||||||||||||||
Actual | Range(d) | Range(d) | ||||||||||||||||||
Revenue | $ | 271.2 | $ | 104.0 | $ | 108.0 | $ | 375.2 | $ | 379.2 | ||||||||||
Earnings before interest, taxes, depreciation, amortization and other non-cash items (“Adjusted EBITDA”) (a) | 62.8 | 30.0 | 32.0 | $ | 92.8 | 94.8 | ||||||||||||||
Adjusted EBITDA per diluted common share | $ | 1.06 | $ | 0.50 | $ | 0.53 | $ | 1.56 | $ | 1.59 | ||||||||||
Interest, taxes, depreciation, amortization and other non-cash items (b) | ||||||||||||||||||||
Interest income | 8.4 | 2.2 | 2.4 | 10.6 | 10.8 | |||||||||||||||
Depreciation and amortization | (21.1 | ) | (7.6 | ) | (7.3 | ) | (28.7 | ) | (28.4 | ) | ||||||||||
Non-cash advertising | (1.7 | ) | (3.0 | ) | (3.0 | ) | (4.7 | ) | (4.7 | ) | ||||||||||
Non-cash stock-based compensation | (10.8 | ) | (4.5 | ) | (4.0 | ) | (15.3 | ) | (14.8 | ) | ||||||||||
Impairment of auction rate securities | (27.4 | ) | — | — | (27.4 | ) | (27.4 | ) | ||||||||||||
Income tax provision | (16.4 | ) | (7.4 | ) | (8.6 | ) | (23.7 | ) | (25.0 | ) | ||||||||||
Income from continuing operations and net income | $ | (6.2 | ) | $ | 9.7 | $ | 11.5 | $ | 3.6 | $ | 5.3 | |||||||||
Income from continuing operations and net income per common share: | ||||||||||||||||||||
Basic | $ | (0.11 | ) | $ | 0.17 | $ | 0.20 | $ | 0.06 | $ | 0.09 | |||||||||
Diluted | $ | (0.11 | ) | $ | 0.16 | $ | 0.19 | $ | 0.06 | $ | 0.09 | |||||||||
Weighted-average shares outstanding used in computing Income from continuing operations and net income per common share: | ||||||||||||||||||||
Basic | 57.7 | 58.5 | 58.5 | 57.9 | 57.9 | |||||||||||||||
Diluted | 57.7 | 60.5 | 60.5 | 59.4 | 59.4 |
(a) | See Annex A — Explanation of Non-GAAP Financial Measures | |
(b) | Reconciliation of Adjusted EBITDA to net income | |
(c) | Income tax rate for Q4’08 is estimated to be approximately 43% of pretax income. The income tax provision excludes any benefit relating to any reversal in 2008 of the valuation allowance against deferred tax assets. | |
(d) | Excludes the impact of the pending acquisition of Marketing Technology Solutions, Inc. |
FINANCIAL GUIDANCE SUMMARY
2009 Preliminary Financial Guidance
(in millions, except per share amounts)
(in millions, except per share amounts)
Year Ended | ||||||||
December 31, 2009 | ||||||||
Range(d) | ||||||||
Revenue | $ | 420.0 | $ | 450.0 | ||||
Earnings before interest, taxes, depreciation, amortization and other non-cash items (“Adjusted EBITDA”) (a) | $ | 107.0 | 122.0 | |||||
Adjusted EBITDA per diluted common share | $ | 1.73 | $ | 1.97 | ||||
Interest, taxes, depreciation, amortization and other non-cash items (b) | ||||||||
Interest income | 8.0 | 10.0 | ||||||
Depreciation and amortization | (33.0 | ) | (30.0 | ) | ||||
Non-cash advertising | (1.5 | ) | (1.5 | ) | ||||
Non-cash stock-based compensation | (28.0 | ) | (25.0 | ) | ||||
Income tax provision | (22.6 | ) | (32.5 | ) | ||||
Income from continuing operations and net income | $ | 29.9 | $ | 43.0 | ||||
Income from continuing operations and net income per common share: | ||||||||
Basic | $ | 0.51 | $ | 0.73 | ||||
Diluted | $ | 0.48 | $ | 0.69 | ||||
Weighted-average shares outstanding used in computing Income from continuing operations and net income per common share: | ||||||||
Basic | 59.0 | 59.0 | ||||||
Diluted | 62.0 | 62.0 |
(a) | See Annex A — Explanation of Non-GAAP Financial Measures | |
(b) | Reconciliation of Adjusted EBITDA to net income | |
(c) | Income tax rate for 2009 is estimated to be approximately 43% of pretax income. The income tax provision excludes any benefit relating to any reversal in 2009 of the valuation allowance against deferred tax assets. | |
(d) | Excludes the impact of the pending acquisition of Marketing Technology Solutions, Inc. |