View - CTS Corporation

CTS Corporation
ADJUSTED EBITDA YEAR-TO-DATE
($ in millions)
As Reported for 2013 Continuing Operations excluding EMS divestiture Discontinued Operations:
Nine Months
2014
Net earnings / (loss) from continuing operations
19.6
Depreciation and amortization expense
Interest expense
Tax expense / (benefit)
EBITDA from continuing operations
First Half
2014
11.4
12.7
1.8
11.0
$
Charges (credits) to reported EBITDA:
Restructuring and asset impairment charges
Additional legal costs
Restructuring-related, one-time charges
Additional CEO search, legal costs and acquisition*
Transaction Costs
Goodwill impairment
Gain on sale-leaseback
Total adjustments to reported EBITDA
45.1
Q1
8.4
1.2
7.2
$
6.2
6.2
28.3
2014
2013
2012
5.1
2.0
13.5
4.2
0.6
3.9
$
4.1
4.1
13.9
$
51.3
$
32.4
$
15.0
Total Sales from continuing operations
$
303.6
$
203.7
$
100.7
16.9%
$
1.1
1.1
Adjusted EBITDA from continuing operations
Adjusted EBITDA as a percentage of total sales from continuing operations
17.3
3.3
16.1
15.9%
38.6
$
12.1
2.1
1.1
30.5
$
4.5
1.5
2.5
(10.3)
(1.8)
54.5
$
28.7
$ 409.5
$
304.5
14.9%
11.3
13.5
2.6
1.0
11.8
4.1
15.9
$
Full Year
2011
26.5
29.5
$ 279.9
2009
(15.0)
11.6
1.0
4.2
$
2.6
0.3
3.0
$
2010
17.7
34.5
12.7
1.7
10.9
$
1.0
1.0
$
35.5
$ 282.9
10.3
2.1
2.4
4.5
$
14.7
$ 213.2
13.3%
9.4%
10.5%
12.6%
6.9%
Nine Months 1st Half
2013
2013
2012
2011
Full Year
2010
2009
2008
Nine Months First Half
2012
2012
$
20.3
21.0
$
$ (34.1) $
28.1
$
19.5
1.9
13.6
24.2
6.2
(1.8)
As Historically Reported prior to 2013 Discontinued Operations:
Net earnings / (loss)
Depreciation and amortization expense
Interest expense
Tax expense / (benefit)
EBITDA
(0.9) $ (7.8)
16.7
2.8
14.9
$
Charges (credits) to reported EBITDA:
Restructuring and asset impairment charges
Additional legal costs
Additional CEO search, legal costs and acquisition*
Transaction Costs
Goodwill impairment
Gain on sale-leaseback
Total adjustments to reported EBITDA
11.4
2.0
11.3
33.5
$ 16.9
10.0
2.3
0.6
12.9
8.9
1.5
10.4
$
19.6
2.6
6.6
$
49.1
17.5
2.1
5.4
$
8.5
4.0
(10.3)
2.2
46.0
$
46.3
$ 27.3
$
51.3
$
49.5
Total Sales
$
460.6
$ 301.1
$ 576.9
$
588.5
Adjusted EBITDA as a percentage of total sales.
10.1%
9.1%
8.9%
17.6
1.1
6.0
$
3.1
0.3
3.5
Adjusted EBITDA
8.4%
*The 2012 quarterly expenses do not add to the full year or nine months amounts because the expenses in Q1 and Q2 were not material and therefore, not discussed.
22.0
46.7
$
1.7
1.7
$
48.4
$ 552.6
8.8%
1.0
$
2.2
33.2
35.4
$
36.4
$ 499.0
7.3%
56.7
$
30.7
$
36.6
$ 691.7
$
438.6
8.3%
5.6
9.6
1.3
1.2
$
4.7
1.2
5.9
62.8
9.1%
$
14.6
1.9
2.7
6.1
6.1
$
11.5
17.7
3.8
3.8
$
21.6
$ 301.3
7.2%