Cyalume Technologies Holdings Inc
Cyalume Technologies — Q1 2009 Earnings Presentation
15 slides from Cyalume Technologies's earnings presentation, May 14, 2009
Slide 1: Q1 Investor Presentation May 2009
Q1 Investor Presentation May 2009 Cyacume- Confidential
Slide 2: Presenter: Derek Dunaway, President & CEO
orm 1 col ident & CEO is] “J unaway, F Derek Confidential SCyacume- www.cyal
Slide 3: Safe Harbor/Forward Looking Statements
Safe Harbor/Forward Looking Statements This presentation may contain forward-looking statements relating to the development of Cyalume Technologies’ products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that
Slide 4: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation contains disclosure of EBITDA for certain periods, which may be deemed to be a non-GAAP financial measure within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Management believes that EBITDA, or earnings before intere
Slide 5: Executive Summary
Executive Summary Q1 top-line was below last year’s but in line with the expectations we communicated during our last conference call We've taken aggressive actions in response to lower Q1 revenue, which will yield long-term cost savings Record quarter for orders of 40mm training ammunition Outlook
Slide 6: Financial Results—Income Statement ($000)
Financial Results—Income Statement ($000) Predecessor for the For Three Months Three Months Ended March 31, Ended March 31, 2009 2008 Revenues 6,624 $ 10,116 Cost of Goods Sold 3,861 5,017 Gross Profit 2,763 5,099 Gross Profit % 42% 50% Adjusted EBITDA 780 2,755 EBITDA % 12% 27% Adjusted Net Income
Slide 7: Financial Results—Balance Sheet ($000)
Financial Results—Balance Sheet ($000) Predecessor for the For Three Months Three Months Ended March 31, Ended March 31, 2009 2008 Assets Current Assets 17,283 20,120 Non-Current Assets 116,959 118,392 Total Assets 134,242 138,512 Liabilities Current Liabilities 13,222 14,093 Non-Current Liabilities
Slide 8: Financial Results — Cash Flow Statement ($000)
Financial Results — Cash Flow Statement ($000) Predecessor for For Three Months the Three Months Ended March 31, Ended March 31, 2009 2008 Operating Activities (458) 2,126 Investing Activities (111) (576) Financing Activities Regular (1,084) (25) Financing Activities Acquisition (1,123) Other - Exch
Slide 9: Outlook by Revenue Sector
Outlook by Revenue Sector YCyacume- Confidential
Slide 10: U.S. Military Chemical
U.S. Military Chemical Q1 Activity « Slower business due to lower revenue from17-item contract (core “light stick” business) * DoD order system issues, no decline in use or in demand (order system issues being resolved) Outlook * Order volume is returning to normal levels * Q2 orders to date already
Slide 11: Ammunition
Ammunition Q1 Activity * Order from U.S. Marines * Orders via Rhinemetall for the U.K. Military * Contract with Rhinemetall for 40mm exclusive contract world-wide Outlook * Completion of first article testing for low velocity 40mm training rounds * Completion of live fire testing for 30mm training a
Slide 12: Commercial
Commercial Q1 Activity * Continued growth of rep and distributor network * Slower growth than expected in Q1 due to general economic environment Outlook * Focus on targeted market segments * Continued support and expansion of the rep and distributor networks Confidential 12
Slide 13: International Chemical & Reflective
International Chemical & Reflective International Chemical Reflective * Strong Q1 performance « Min/Max contract for the DoD in solicitation now + Expect response in Q2 Confidential 13
Slide 14: Operations Overview
Operations Overview « In response to slower pace of U.S. Military business in Q1, we undertook an optimization of our production — Led to a reduction of plant staff — Shifts were reorganized to yield more efficiencies * Orders from our U.S. Military channel are now starting to reach historical level
Slide 15: Summary and Guidance
Summary and Guidance * Slow Q1 * Business returning to historical levels in U.S. Military sales « Ammunition business is ramping up VCyacume conndenvo’ | 18
Cyalume Technologies Holdings — Q1 2009 Earnings Presentation on 6ix