Quarterly results and

Quarterly Results and
FY 2006 Financial Outlook
Adventure Works | Doris Hartwig | July 2005


Agenda
•
Quarterly Results – 4
th
Quarter FY 05
•
FY 2006 Financial Outlook


4
th
Quarter 2005
Adjusted Financial Highlights
4
th
Quarter % Change
Adjusted EPS $6.2M 0.0%
Revenues $14.2M (0.5%)
Cash Expense $1.6M 0.7%
Operating Expense $12.5M 0.3%
Operating Income $2.3M (0.2%)
EBITDA $2.8M (1.2%)
Debt ($1.2M) (10.6%)

Earnings Reconciliation
Reported Earnings (loss) per share ($.12)
Investment-related Write-downs $.10
Investment 1
Investment 2
$.07
$.03
Gain on Sale $.05
Investment 1
Investment 2
$.03
$.02
Adjusted Earnings per Share $.03


•
Reduced debt by more than 10%
•
Anticipate profits from sales of ancillary
subsidiaries
Balance Sheet Highlights


Innovation and Marketing
•
3 new products/services in Research and
Development
•
Rollout planned for new division

•
Campaigns targeting new markets


4
th
Quarter Summary
•
Economic environment impedes sales
•
Renewed commitment to innovation and
marketing


Projected Earnings


2006 Projected Outlook
•
Assumptions
−
Economic recovery imminent
−
Pending issues
•
Legacy holdings
•
Regulatory changes
−
Capital management

−
Balance sheets


FY 2006 Projections
Estimated % Change
Revenue Growth $14.2M (0.5%)
EPS $1.6M 0.7%
Capital Expenditures $12.5M 0.3%


Projected Capital Expenditures


Summary
•
Additional capital flow anticipated in 3
rd

Quarter
•
Development, marketing key