CIRCOR International — Q1 2015 Earnings Presentation
13 slides from CIRCOR International's earnings presentation, Apr 28, 2015
Slide 1: First Quarter 2015 Investor Review
“YN Cc | R Cc O R Energy | Aerospace & Defense LY First Quarter 2015 Investor Review Presented April 28, 2015
Slide 2: Safe Harbor
Q1 2015 Investor Review am! CIRCOR | Ws Safe Harbor This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Reliance should notbe placed on forward-looking s
Slide 3: Q1 2015 Financial Highlights
Q1 2015 Investor Review Q1 2015 Financial Highlights Organic Reported YOY Change YOY Change * Orders of $182.3 million +9% (9%) « Revenues of $165.9 million (10%) (21%) « Adjusted Operating Margin of 8.8% -100 bps -60 bps « Adjusted EPS of $0.60 -12 cents -18 cents Notes: 1) Reported year-over-year
Slide 4: Schroedahl Acquisition
Q1 2015 Investor Review Zon CIRCOR Ly Schroedahl Acquisition *« Germany-based, privately held manufacturer of safety and control valves primarily for the power generation market * Q2 Guidance — Revenue of $6 million and adjusted EPS of $0.08 * Transaction provides for: Earnings accretion with strong
Slide 5: Energy Segment Highlights
Energy Segment Highlights ($ millions) Po Q1 2015 Q12014PF | YOY Change Revenues 127.6 152.0 (16%) Adjusted operating margin 13.8% 14.9% -110 bps + Revenues decreased 16% — Negative FX impact of ~$10 million (7 points) — Lower short-cycle distributed valve sales — Higher large international project
Slide 6: Aerospace & Defense Segment Highlights
Aerospace & Defense Segment Highlights ($ millions) Po Q1 2015 Q12014PF | YOY Change Revenues 38.3 46.2 (17%) Adjusted operating margin 8.0% 9.5% -150 bps + Revenues decreased 17% — Lower structural landing gear sales — Lower UK Navy programs — Negative FX impact of ~$3 million (6 points) + Adjusted
Slide 7: Q1 P&L Highlights
Q1 P&L Highlights ($ millions except per share data) Q1 2015 Q1 2014 PF Segments’ adjusted operating income’ 20.6 26.9 Special charges (recoveries), net 1:5 (1.2) Corporate expenses! 6.0 TA Operating Income As 20.9 Net interest (expense) (0.6) (0.9) Other income 05 0.5 Provision for income taxes (3.
Slide 8: Cash Flow and Debt Highlights
Q1 2015 Investor Review 7 N CIRCOR Ww Cash Flow and Debt Highlights ($ millions) Q1 2015 Qi 2014 Cash Flow from Operations (16.4) 17.1 Capital Expenditures (2.0) (2.7) Free Cash Flow (18.4) 144 Apr.5,2015 Mar. 30,2014 Total Debt on.5 56.1 Cash, Cash Equivalents & ST Investments 104.0 122.2 Net Debt
Slide 9: Adjusted Q2 2014
Adjusted Q2 2014 ($ millions except per share data) Revenue Adjusted EPS Q2 2014 Reported 207.9 0.91 Divestitures' (13.5) (0.03) FX - Estimate” (15.5) (0.09) Q2 2014 Adjusted 178.9 0.79 Notes: 4) Divestitures reflects amounts associated with two business units divested in December 2014 and January 2
Slide 10: Restructuring Actions Summary
Q1 2015 Investor Review “NN CIRCOR Ao Restructuring Actions Summary ($ millions) Actions Announced in 2013 Actions Announced in 2014 Actions Announced in Q1 2015 Actions Announced in Q2 2015 Total Reinvestment for Growth Net Savings ‘Note: $7 million in savings from actions in 2014 were fully reinve
Slide 11: Q2 2015 Guidance as of April 28, 2015
Q1 2015 Investor Review 7 CIRCOR ‘_¥ Q2 2015 Guidance as of April 28, 2015 ($ millions except per share data) Q2 2015 Low High Revenue $145 $160 Expected Adjusted Earnings Per Common Share (Diluted) 0.45 0.55 Less: Restructuring related charges, net of tax ~~ 7 -— 0.14 0.13 Special charges, net of t
Slide 12: Appendix
Appendix ZN CIRCOR wv
Slide 13: Order Trends
Order Trends ($ millions) Energy Aerospace & Defense 37 40 42 43 39 Q12014 Q22014 Q32014 Q42014 Q12015 Q12014 Q22014 Q32014 Q42014 Q12015 Q1 2015 Investor Review aA CIRCOR _ Note: Excludes divested businesses. Not adjusted for foreign currency impact.