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Unique Fabricating, Inc.Investor PresentationAugust 2017
UniqueFAB.com | NYSE: UFAB
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NYSE: UFAB
Safe Harbor
FORWARD-LOOKING STATEMENTS
This presentation includes “forward-looking statements” within the meaning of U.S. federal securities laws, and we intend that such forward-looking statements be subject tothe safe harbor created hereby. We make forward-looking statements in this presentation and may make such statements in future filings with the SEC. We may also makeforward-looking statements in our press releases or other public or stockholder communications. The forward-looking statements are based on management’s beliefs andassumptions and on information currently available to us. When used in this presentation, the words “anticipate,” “believe,” “continue,” “could,” “seek,” “might,” “estimate,”“expect,” “intend,” “may,” “plan,” “potential,” “predict,” “approximately,” “project,” “should,” “will,” “would” or the negative or plural of these words or similar expressions,as they relate to our company, business and management, are intended to identify forward-looking statements. In light of these risks and uncertainties, the future events andcircumstances discussed in this presentation may not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. Allforward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to bematerially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We discuss these risks in greater detail inour Annual Report on Form 10-K in the “Risk Factors” section and elsewhere. We derive many of our forward-looking statements from our operating budgets and forecasts,which we base on many assumptions. While we believe that our assumptions are reasonable, we caution that it is difficult to predict the impact of known factors, and it isimpossible for us to anticipate all factors that could affect our actual results. Given these uncertainties, you should not place undue reliance on these forward-lookingstatements.
These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our orour industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievementsexpressed or implied by these forward-looking statements. Forward-looking statements include, but are not limited to: cyclicality of the automotive industry affectingautomotive sales and production effecting the viability of our customers and financial condition of our customers; cyclicality of the appliance industry affecting sales andproduction effecting the viability of our customers and financial condition of our customers; global economic uncertainty; loss of large customers or significant platforms; ourability to generate sufficient cash to service our indebtedness, and obtain future financing; operating and financial restrictions imposed on us by our credit agreements; supplyshortages; escalating pricing pressures and decline of volume requirements from our customers; our ability to meet significant increases in demand; availability and increasingvolatility in cost of raw materials; our ability to continue to compete successfully in the highly competitive automotive parts industry; risks associated with our non-U.S.operations; foreign currency exchange rate fluctuations; product liability claims that may be brought against us; work stoppages or other labor conditions; natural disasters;our ability to meet our customers’ needs for new and improved products in a timely manner or cost-effective basis; the possibility that our acquisition strategy may not besuccessful; our legal rights to our intellectual property portfolio; environmental and other regulations; the possible volatility of our annual effective tax rate; the possibility offuture impairment charges to our goodwill and long-lived assets; and the interests of our major stockholders may conflict with our interests; and other factors, including thosediscussed in “Risk Factors” in our Annual Report on Form 10-K.
Forward-looking statements speak only as of the date hereof. We caution you that the foregoing list of important factors may not contain all of the material factors that areimportant to you. Except as required by law, we assume no obligation to publicly update or revise any forward-looking statement to reflect actual results, changes inassumptions based on new information, future events or otherwise. If we update one or more forward-looking statements, no inference should be drawn that we will makeadditional updates with respect to those or other forward-looking statements.
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NYSE: UFAB
Leading Component Supplier
End Markets
Automotive: • 78.8% of 2016 Net Sales
Industrial Appliance/Water Heater/HVAC
• 14.9% of 2016 Net Sales
Other: • 6.3% of 2016 Net Sales
Manufacturing Process
• Die cutting• Thermoforming• Compression Molding• Fusion Molding • Molded Polyurethane
• Auburn Hills, MI (HQ)• Bryan, OH• Evansville, IN• Port Huron, MI• Fort Smith, AR• LaFayette, GA• Louisville, KY• Monterrey, Mexico• Concord, MI• Queretaro, Mexico• London, Ontario
Locations
Materials
• Multi-material foam• Rubber • Plastic• Adhesive Tapes
Uses
Reduction of noise, vibration and harshness (“NVH”)
Acoustical management, water and air sealing, decorative and other functional applications
Customers
Automotive & Industrial (“OEMs”): • 27.2% of 2016 Net Sales
Tier 1 Suppliers to OEMs:• 72.8% of 2016 Net Sales
Volume
3+ million parts a day
800+ million parts annually
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Unique Fabricating is a leading supplier of components positioned for profitable growth in the automotive and industrial appliance market
Investment Highlights
Strong free cash flow and an annualdividend yield of ~7.1%224% six-year revenue CAGR1
Blue chip customer base of top-tier manufacturers and OEM’s
Significant barriers to entry in most product lines
Seasoned management team
Consistent track record of profitability
Favorable industry tail winds
Proven ability to identify, acquire and integrate businesses
1 Includes organic growth and growth from acquisitions from 2011-2016.2 Assumes payment of cash dividend of $0.15 per share / per quarter based on closing price on 8/3/17 of $8.40
NYSE: UFAB
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September 2008Majority interest acquired by American Capital
1998Acquired by Westfield Capital Corporation
March 2013Acquisition sponsored by Taglich Private Equity
December 2013Acquired Prescotech Industries (PTI)
1975Founded as Unique Fabricating NA, an automotive die-cut fabricator of non-metallic materials supporting General Motors, Ford and Chrysler
February 2014Acquired Chardan
April 2016Acquired Intasco Corporation and Intasco USA, Inc. (together Intasco)
August 2015Acquired Great Lakes Foam Technologies, a molded polyurethane business
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NYSE: UFAB
Company History
July 2015 UFAB IPO
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Unique Fabricating acquired the business and substantially all of the assets of Intasco Corporation, a Canadian provider of precision die cut solutions, and acquired 100% of the outstanding stock of Intasco USA, Inc. (together Intasco)
Intasco Acquisition
Intasco Acquisition
1 Unaudited financial results for the 12 month period ending April 2, 2017
Accretive Acquisition of Precision Die Cutting Manufacturer and Leading Adhesive Solutions ProviderNAFTA leader in converting adhesive tapesHigher margin specialized rotary die cutting capabilitiesHighly specialized, customized rotary equipmentInterior and exterior components… PVC foam, double-coated transfer tapes, headliner transfer tapes and acrylic foam permanent adhesive tape
NYSE: UFAB
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NYSE: UFAB
Attractive Growth Profile
$58.2$70.0
$16.4
$63.9
$126.5
$143.3$170.5
2011 2012 2013 2014 2015 2016
Predecessor Successor
$80.3
$5.3
$7.7
$1.5
$6.8
$14.5 $15.6
$19.0
2011 2012 2013 2014 2015 2016
Predecessor Successor
$8.3
2011 – 2016 sales CAGR of 24%1
Consistently growing in excess of automotive market growth
Industrial market represents significant incremental revenue opportunity
2011-2016 Adjusted EBITDA CAGR of 29%1
Significant fixed cost leverage
20-25% of incremental sales growth in 2017 and beyond is expected to drop to EBITDA line
1 Includes organic growth and growth from acquisitions.
Adjusted EBITDA ($ in millions) Fiscal Years
Revenue($ in millions) Fiscal Years
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NYSE: UFAB
Products: Automotive Components
Buzz, squeak & rattle NVH Components Acoustic Insulation Door Water Barriers Gas Tank Pads
Fender Stuffers
HVAC Seals & Dash Noise Control
Air Management | Ducts Glove Box Liners & Bumper Pads
Console Bin Mats & Cupholder Inserts
Mirror Gaskets Seating Topper Pads
Tail Lamp Gaskets
Wheel Housing Liners
Thermoformed | Compression Products Die Cut Products Fusion Molded ProductsProduction Processes:
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NYSE: UFAB
Products: HVAC, Appliance & Water Heater Components
Electrical Grade Paper Gasket
Foaming Gaskets
Rear Access Compressor
Cover
Gasket for Hot/Cold Water
Seals
Metal Sealing Gasketing
EPDM Gasketing for Metal sealing
Surface Protection
Fiberglass Insulation Pad
Fiberglass Base Pad
Insulating Foam Rings
Thermal Wrap
HVAC
Insulation Pad
Appliance Water Heater
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o Key relationships with suppliers
o Long relationships with over 150 raw material and adhesive suppliers
o Track new developments in materials, and pursue exclusive relationships
o Access to new materials for a period of time prior to their introduction to the general market
Strong technical expertiseo Engineering talent, test facilities and rapid
prototyping capabilities enable Unique to rapidly innovate and develop products
o Ability to resolve customer’s problems, often within 24 to 48 hours
Operational excellenceo Manage over 3,000 active part numberso Stellar track record of only 6 rejected parts per
million and 99% on-time deliveryo TS 16949 / ISO 14001 certification
Proximity to key customerso Manufacturing facilities are located within ~500
miles of over 80% of North American vehicle production, and even closer to major appliance manufacturing locations
o Depth of customer relationships
o Reputation with key customers as a supplier of choice
o Sales engineers involved early in the design/development stage of new vehicles or appliances, leading to opportunities to introduce new products
CustomersSuppliers
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NYSE: UFAB
Unique’s Core Competencies
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BMW
Chrysler
Ford
General Motors
Mercedes-Benz
Navistar
Nissan
Tesla
Air International
Calsonic Kansei
Faurecia
International Automotive Components
Inteva Products
Johnson Controls
Magna
Mahle
Valeo
OEMs Tier 1
AO Smith
Carrier
General Electric
Rheem
Trane
Whirlpool
Appliance, HVAC, & Hot Water Tank
Nocustomer
represented more than 8% of
total sales in 2016
Automotive Industrials
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Blue Chip Customer Base
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NYSE: UFAB
Market Opportunity
Automotive Industrial(Appliance/Water Heater/HVAC)
~$600MTotal Addressable
Market 1
~$1B Total Addressable
Market
Sales of appliances and water heater equipment expected to increase 1.1% from 2016 to 20211. Sales of HVAC expected to grow 2% over same period(Source: Independent source)
Market Characteristics:o No dominant suppliero Significant barriers to entry
~20% Current Market Share in
2016
~2% Current Market Share in
2016
1 Source: IHS Automotive, Appliance Magazine and management estimates. Includes North America market opportunity only.
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Market Characteristics:o UFAB is believed to be the largest suppliero No dominant suppliero Significant barriers to entry
Chart1
1st Qtr
2nd Qtr
Sales
0.2
0.8
Sheet1
Sales
1st Qtr20%
2nd Qtr80%
20%
Chart1
1st Qtr
2nd Qtr
Sales
0.02
0.98
Sheet1
Sales
1st Qtr2%
2nd Qtr98%
20%
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Unique’s manufacturing facilities are within approximately 500 miles of over 80% of North American vehicle production and even closer to major appliance manufacturing locations
Strategically Located Footprint
London, ON35,000 SF
Monterrey, Mexico91,000 SF
Querétaro, Mexico64,000 SF
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1
Evansville, IN66,500 SF
Auburn Hills, MI150,000 SF
Port Huron, MI18,000 SF
Concord, MI72,000 SF
Bryan, OH42,000 SF
Louisville, KY73,000 SF
Lafayette, GA147,000 SF
Fort Smith, AR70,000 SF
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1
1 Also engages in sales & engineering
NYSE: UFAB
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NYSE: UFAB
Vehicle production is forecasted for continued growth
North American Vehicle Production
15.8 15.3 15.1
12.6
8.6
11.913.1
15.116.2
17.0 17.517.6 17.6 17.6 17.9
18.7 18.6
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Historical & Forecasted North American Vehicle Production Volume(Units in Millions)
Source: IHS Automotive (July 2017)
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19 1925
17
43
20 20 2232
39 37
2010 2015 2020F
10.1 10.210.3 10.4
10.510.8
11.1 11.311.4 11.4 11.5
11.6
2005 2010 2015
U.S. Aging Fleet has Reached Record High
Average age of vehicles in the U.S. reached 11.6 years in 2016, the highest rate ever recorded
(in years)
North American New Vehicle Platform Launches
Average 24 / year Average 30 / year
New vehicle program launches are expected to accelerate over the coming years providing new growth opportunities for suppliers to automotive OEMs
Source: Independent Source, IHS Automotive
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Positioned to capture growth driven by continued growth in the North American automotive industry; NVH market expected to grow at a CAGR of approximately 7.0% from 2017 through 2021
North American New Vehicle Platform LaunchesNYSE: UFAB
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o Federal mandate of Corporate Average Fuel Economy “CAFE” – 55 MPG average by 2025
o Automotive industry focused on improving fuel economy and using lighter weight materials
o Use of lighter weight materials will increase use of plastics and foam materials per vehicle
Fuel efficiency and vehicle light-weighting
o Interior comfort is an area of increased focus for OEM manufacturers
o Expected to continue to increase the use of foam in seats and acoustical insulation
Interior Comfort
o Increasing use of telematics and infotainment requires quieter vehicles to recognize voice commands
o Legislation for hands-free phone use increases demand for quieter cabins
o Expected to increase use of acoustic insulation materials, more precise air seals and other noise, vibration and harshness products
Unique can quickly offer product solutions as its production facilities are located close to North American vehicle assembly locations
Localization of Production
Telematics and Infotainment
Rapid pace of new vehicle launches
• Automotive market is expected to see a significant number of new program launches• Expected to create new product opportunities as OEMs will need to quickly fix unplanned noise
issues
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Automotive trends expected to drive Company growth above industry averages
Favorable Automotive Industry TrendsNYSE: UFAB
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Unique’s products address industry trends
Increasing NVH Content Per Vehicle
o Design Change: Consumer feedback influenced VM to design larger mirror on truck for towing purposes
o Situation: Larger mirrors created additional interior wind noise
o Result: VM required more complex NVH solution increasing Unique’s CPV by 100%
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o Design Change: N.A. consumers demand wind noise improvement Situation: Die cut gaskets used to block wind in forward car position are inadequate
o Result: VM chooses European molded foam technology (fusion molding) as solution to wind noise, increasing Unique’s CPV by 200%
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After
$0.90CPV
Before
Simple Die Cut Rubber Seal
Before After
o 2013 compact has an estimated 50% more NVH material and acoustic insulation content than 2010 model
o Added NVH content: door insulation, headliner insulation, A&B pillar stuffers and fender seals
2010 Compact Car 2013 Version of Same Car
AfterBefore
No Seat Topper
Pad
Topper Pad
o Design Change: Consumers require additional comfort in B & C segment vehicles
o Situation: Molded seat cushions do not provide both structure and softness
o Result: VM requires die cut seat topper pad increasing Unique’s CPV by $5.00
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$2.00CPV
$1.80CPV $6.00
CPV
$0CPV
$5.00CPV
NYSE: UFAB
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CAGR
2007-2010 2011-2016
UFAB Sales2 (6.0)% 24.0%
NA Vehicle Production Volumes
(7.6)% 6.1%
Historical Track Record of Above Market Growth
$58.1$48.2
$58.2
$143.3
15.111.9 13.1
17.5 17.6
2007 2010 2011 2015 2016
$ in millions / units in millions
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NYSE: UFAB
Proven track record of generating growth in excess of the overall market
Exceeding Market Growth
Source: IHS Automotive (December 2016)1 Based on audited predecessor company financials.2 Includes organic growth and growth from acquisitions.
1 1
1
Predecessor Successor NA Vehicle Production Volumes
$170.5
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NYSE: UFAB
Growth Opportunities
Growth from Existing
Customers
Growth from New Customers
Growth through Acquisitions & New Markets
Growth from New Products
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Representative Customers
Historical Sales Trends (2012-2016 CAGR)
Estimated Current Penetration1 Growth Expectations
Customer A 41.1% ~40%Driven by…
o Increasing demand for NVH content
o Complementary products and processes
o Proprietarymaterials and products
o Innovative technical support
Customer B 28.7% ~30%
Customer C 27.6% ~40%
Customer D 9.1% ~40%
1 Based on management estimates.
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NYSE: UFAB
Collaborative approach to customer management has resulted in deep relationships throughout a customer’s organization
Growth from Existing Customers
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(Revenue $ in thousands)
$0 $0
$2,426
2007 2011 2016
$1,394
$3,072
$6,607
2007 2011 2016
$264
$9,483
$11,061
2007 2011 2016
Customer Target 1 Customer Target 2 Customer Target 3
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NYSE: UFAB
Successful track record of growing sales with new customers that have been proactively targeted in strategic planning process
Growth from New Customers
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Patent Pending TwinShape™ Duct Technology Customer Value Proposition*
Proprietary Technologyo Leveraged material and process
expertise to develop patent-pending technology
o Coordinate with VMs and Tier Is to engineer components into vehicle early in design process
Commercial Acceptanceo First production award was received by
high-performance electric vehicle manufacturer
o Opens the door to build relationships with new customers who were previously inaccessible
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Auto air ducts represent a new growth opportunity in an additional market
Growth from New Products
Weight:
o 80% lighter weight
Cost:
o Lower tooling cost
o Lower total product cost
Performance:
o Eliminates condensation
o Increased NVH performance
o Eliminates BSRs
o Heats up and cools down faster
*Compared to blow molded PP and HDPE air ducts
NYSE: UFAB
Awarded 4 new production orders for TwinShape since product launch in 20154 additional development & prototyping programs in place for future consideration
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Selectively pursue acquisitionso Since 2013, Unique has completed four accretive, add-on acquisitions
Add new marketso Prescotech Industries – appliance, water heater and HVAC
Add new products and processeso Chardan – fusion moldingo Great Lakes Foam – molded polyurethaneo Intasco - precision rotary die cutting
Further penetrate customerso Acquisitions have relationships with Unique’s customers within their
specific category
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Unique has established an effective internal process for identifying, acquiring and integrating target companies within existing and new markets
Growth through Acquisitions & New MarketsNYSE: UFAB
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$948
$1,431 1
$1,302
$1,724
$3,362$2,583
$1,841
2012 2013 2014 2015 2016
$ in 000’s / % of Sales
Georgia Facility
Cap Ex
Adjusted EBITDA:
CapEx as % of Revenue:
Capital Expenditures
1 Includes capital expenditures of $551,499 from predecessor and $879,652 from successor.
1
$7,658 $8,316 $14,496 $15,590 $18,991
1.4% 1.8% 3.1% 2.5% 2.0%
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NYSE: UFAB
High Return on CapEx
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$82.0$92.4
$126.5$143.3
$170.5
1H2016
1H2017
2014 2015 2016
($ in millions, except per share amounts)
Revenue Adjusted Diluted EPS Adjusted EBITDA
o Q2 2017 revenue up 6%; FY2017 revenue up 13%
o FY 2017 revenue increases driven primarily by the acquisition of Intasco during Q2 2016 as well as the introduction of new products coupled with increased market penetration
o FY 2017 Adjusted Diluted EPS YOY increase driven primarily a result of higher earnings and gross margins
o FY 2017 Adjusted EBITDA increase driven primarily a result of higher earnings and gross margins
o FY 2016 Adjusted EBITDA increase is primarily the result of earnings generated from higher sales
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NYSE: UFAB
Financial Review
$0.35$0.42
$0.73 $0.76$0.78
1H2016
1H2017
2014 2015 2016
$8.7$10.4
$14.5 $15.6
$19.8
1H2016
1H2017
2014 2015 2016
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Total Revenue in the range of $177 to $181 milliono Assumes industry analysts projection of North American light vehicle production of 17.55
million vehicles
Adjusted Diluted Earnings Per Share of $0.76 to $0.80
Adjusted EBITDA of $19.5 to $20.5 million
Quarterly Cash Dividends
o Consistent track record of quarterly cash dividend payments
o Anticipate future quarterly dividends of at least $0.15 per share per quarter
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NYSE: UFAB
2017 Outlook1
1 Outlook provided as part of Q2 2017 earnings release issued on August 7, 2017
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HighlightsCapitalization($ and shares in thousands)
(unaudited)as of
July 2, 2017
Cash and cash equivalents $807Total current assets 52,044Property, plant and equipment, net 22,560Goodwill and intangibles 50,569Total long-term assets 74,811Total assets $126,855
Current liabilities $19,120
DebtSenior credit facility $54,649Other debt 500
Total debt $55,149
Total liabilities $75,892
Stockholders' equityCommon stock $10Additional paid-in-capital 45,637Retained earnings 5,316
Total stockholders' equity $50,963Total liabilities and stockholders' equity $126,855
Shares Outstanding 9,756
Total capitalization $106,112Debt / Total Capital 52.0%Net Debt / LTM Adjusted EBITDA 2.6 Working Capital $32,924Current Ratio 2.7
Planned quarterly dividend
Share count excludes:
o 584,280 shares of common issuable upon the exercise of outstanding options at a weighted avg. exercise price of $7.02 / share
o 249,400 shares of common reserved for future grants or issuance under 2013 and 2014 Award Plans
o 1,185 shares of common reserved for issuance upon the exercise of outstanding warrants at a weighted avg. exercise price of $3.33 / share
o 141,000 shares of common reserved for issuance upon the exercise of outstanding warrants at a weighted avg. exercise price of $11.88 / share
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NYSE: UFAB
Capital Structure
Sheet1
(unaudited)
as ofas of
July 2, 2017January 3, 2016
Cash and cash equivalents$807$727
Total current assets52,04440,440
Property, plant and equipment, net22,56018,761
Goodwill and intangibles50,56939,353
Total long-term assets74,81159,289
Total assets$126,855$99,729
Current liabilities$19,120$17,393
Debt
Senior credit facility$54,649$14,595
Other debt50013,907
Total debt$55,149$28,502
Total liabilities$75,892$51,716
Stockholders' equity
Common stock$10$10
Additional paid-in-capital45,63744,352
Retained earnings5,3163,651
Total stockholders' equity$50,963$48,013
Total liabilities and stockholders' equity$126,855$99,729
Shares Outstanding9,7569,592
Total capitalization$106,112$76,515
Debt / Total Capital52.0%37.3%
Net Debt / LTM Adjusted EBITDA2.62.0x
Working Capital$32,924$23,047
Current Ratio2.72.3
Sheet2
Sheet3
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Unique Fabricating is a leading supplier of components positioned for profitable growth in the automotive and industrial appliance market
Investment Highlights
Strong free cash flow and an annualdividend yield of ~7.1%224% six-year revenue CAGR1
Blue chip customer base of top-tier manufacturers and OEM’s
Significant barriers to entry in most product lines
Seasoned management team
Consistent track record of profitability
Favorable industry tail winds
Proven ability to identify, acquire and integrate businesses
1 Includes organic growth and growth from acquisitions from 2011-2016.2 Assumes payment of cash dividend of $0.15 per share / per quarter based on closing price on 8/3/17 of $8.40
NYSE: UFAB
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CONTACTS
Contact UsTom Tekiele (CFO) [email protected](248) 853-2333
Investor Relations | Hayden IR
Brett Maas [email protected](646) 536-7331
Rob [email protected](646) 415-8972
UniqueFAB.com | NYSE: UFAB
NYSE: UFAB
mailto:[email protected]:[email protected]:[email protected]
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Appendix
UniqueFAB.com | NYSE: UFAB
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NYSE: UFAB
Adjusted EBITDA Reconciliation
($ in thousands)
2011 2012 2013 2014 2015 2016 6M 2016 6M 2017Net Income $1,643 $3,157 $ (908) $ 4,465 $ 5,029 $ 6,684 $ 2,433 $ 3,715Income tax expense (benefit) 1,465 1,699 (164) 2,074 2,755 2,135 1,266 1,596 Interest expense, net 1,427 1,177 2,555 3,667 2,314 3,257 1,214 1,319Depreciation and amortization 426 501 2,195 3,525 3,903 5,502 2,508 3,108 Change in control payments 340 1,000 1,890 - - - - -Non-cash stock awards - - 65 34 206 166 86 75 Non-recurring integration expenses - - 135 110 87 173 69 3
Non-recurring step-up of inventory basis to fair market value - - 748 384 146 319 279 -Non-recurring IPO costs - - - - 230 - - -Transaction fees - 93 1,800 237 546 867 848 23
One-time consulting and licensing ERP system implementation costs - - - - - - - 539 Other / Restructuring expenses - 31 - - 374 35 35 -Gain on sale of building - - - - - (147) - -Adjusted EBITDA $5,301 $7,658 $8,316 $14,496 $15,590 $18,991 $ 8,738 $ 10,378
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NYSE: UFAB
Adjusted Diluted EPS Reconciliation($ in thousands)
2014 2015 2016 6M 2016 6M 2017Net Income $ 4,465 $ 5,029 $ 6,684 $ 2,433 $ 3,715Non-cash stock awards 34 206 166 86 75 Non-recurring integration expenses 110 87 173 69 3
Non-recurring step-up of inventory basis to fair market value 384 146 319 279 -Non-recurring IPO costs - 230 - - -Transaction fees 237 546 867 848 23
One-time consulting and licensing ERP system implementation costs - - - - 539 Debt extinguishment costs - 387 60 60 -Restructuring expenses - 374 35 35 -Less: Gain on sale of building - - (147) - -Less: Tax impact (243) (623) (428) (398) (192)Adjusted Net Income $ 4,987 $ 6,382 $ 7,729 $ 3,413 $ 4,163
Diluted Weighted Average Shares Outstanding 6,864 8,427 9,896 9,869 9,905 Diluted-GAAP EPS $ 0.65 $ 0.60 $ 0.68 $ 0.25 $ 0.38 Diluted-Adjusted EPS $ 0.73 $ 0.76 $ 0.78 $ 0.35 $ 0.42
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Appendix Slides
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