Exhibit 99.3
FINANCIAL GUIDANCE SUMMARY
2008 Financial Guidance
(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 | |
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| 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 | ) |
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| Income from continuing operations and net income | | $ | (6.2 | ) | | $ | 9.7 | | | $ | 11.5 | | | $ | 3.6 | | | $ | 5.3 | |
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| | | | | | | | | | | | | | | | | | | | | |
| 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 | |
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| | | | | | | | | | | | | | | | | | | | | |
| 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 | |
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| (a) | | See Annex A — Explanation of Non-GAAP Financial Measures |
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| (b) | | Reconciliation of Adjusted EBITDA to net income |
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| (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. |
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| (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)
| | | | | | | | | |
| | | 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 | |
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| 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 | |
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| 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 | |
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| (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. |
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| (d) | | Excludes the impact of the pending acquisition of Marketing Technology Solutions, Inc. |
