Google reported strong financial results for Q2 2008, with revenue growth of 39% year-over-year and 3% quarter-over-quarter. Google properties revenue grew 42% year-over-year and 4% quarter-over-quarter. International revenues continued to grow strongly, reaching $2.8 billion in Q2. Google also acquired DoubleClick, giving it a leading display advertising platform.
Solid finish to fiscal 2014
Core sales growth +4%
Adjusted net income +62%
Adjusted EBITDA margin of 21.0%
Adjusted EPS +56% year over year to $0.50
Water Management growth accelerating as expected
+6% core growth … strong momentum in both Zurn and VAG
Acquired Green Turtle in April … proprietary products expand Zurn portfolio
Process & Motion Control end markets stable/improving
+3% core growth with strong performance in U.S. OEM/Distribution
Adjusted EBITDA increases to 29.2% … 300 basis point improvement year over year
Fiscal 2015 guidance of +3% to +5% core sales growth … adjusted EPS growth
of +20% to +28%
Solid finish to fiscal 2014
Core sales growth +4%
Adjusted net income +62%
Adjusted EBITDA margin of 21.0%
Adjusted EPS +56% year over year to $0.50
Water Management growth accelerating as expected
+6% core growth … strong momentum in both Zurn and VAG
Acquired Green Turtle in April … proprietary products expand Zurn portfolio
Process & Motion Control end markets stable/improving
+3% core growth with strong performance in U.S. OEM/Distribution
Adjusted EBITDA increases to 29.2% … 300 basis point improvement year over year
Fiscal 2015 guidance of +3% to +5% core sales growth … adjusted EPS growth
of +20% to +28%
Rexnord Corporation (RXN) Q1 Fiscal Year 2019 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on July 30, 2018, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in our filings with the Securities and Exchange Commission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliations to GAAP data.
Rexnord Corporation (RXN) Q1 Fiscal Year 2019 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on July 30, 2018, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in our filings with the Securities and Exchange Commission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliations to GAAP data.
Rexnord Corporation (RXN) Q2 Fiscal Year 2019 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on October 30, 2018, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in our filings with the Securities and Exchange Commission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliations to GAAP data.
Rexnord Corporation (RXN) Q2 Fiscal Year 2019 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on October 30, 2018, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in our filings with the Securities and Exchange Commission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliations to GAAP data.
This presentation was delivered at the April 23, 2009 Smart-ups event in Eugene, OR by Dan Vishny (CFO for two start-ups companies). Dan is also known for having one of the top 10 best scores on the CPA exam - for the entire U.S.A.!
Rexnord Corporation (RXN) Q3 Fiscal Year 2018 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on January 31, 2018, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in our filings with the Securities and Exchange Commission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliations to GAAP data.
2. Second Quarter 2008 HighlightsSecond Quarter 2008 Highlights
• Revenue growth of 39% Y/Y and 3% Q/Q
Google properties revenue growth of 42% Y/Y and 4% Q/Q– Google properties revenue growth of 42% Y/Y and 4% Q/Q
– Network revenues increased 22% Y/Y and decreased 2% Q/Q
– Growth in international markets continued to be strong, with $2.8 billion in Q2 international
revenuerevenue
• Operational Highlights
– Improvements in search quality remain key focus
– Continued ads quality initiatives to show users better, more relevant ads
– Increasing value for advertisers and publishers with broader and deeper solutions
A i iti f D bl Cli k i G l th l di di l d l tf• Acquisition of DoubleClick gives Google the leading display ad platform
– Strong Apps traction and addition of functionality to Google Apps suite of products
• Exercising operational discipline while investing in long-term
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g p p g g
opportunities
6. Costs and ExpensesCosts and Expenses
GAAP
$Millions Q2'07 Q1'08 Q2'08$Millions Q2 07 Q1 08 Q2 08
Cost of Revenues $1,560 $2,111 $2,148
Percent of revenues 40% 41% 40%
Research & Development $532 $673 $682
Percent of revenues 14% 13% 13%
Sales & Marketing $356 $447 $485
P t f 9% 9% 9%Percent of revenues 9% 9% 9%
General & Administrative $319 $409 $474
Percent of revenues 8% 7% 9%
Total Costs & Expenses $2,767 $3,640 $3,789
Percent of revenues 71% 70% 71%
Non GAAPNon-GAAP
$Millions Q2'07 Q1'08 Q2'08
Cost of Revenues $1,552 $2,102 $2,139
Percent of revenues 40% 41% 40%
Research & Development $375 $479 $495
Percent of revenues 10% 9% 10%Percent of revenues 10% 9% 10%
Sales & Marketing $320 $404 $442
Percent of revenues 8% 8% 8%
General & Administrative $279 $374 $440
Percent of revenues 7% 7% 8%
Total Costs & Expenses $2,526 $3,359 $3,516
Percent of revenues 65% 65% 66%
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Note: Please refer to supporting Table 1 for reconciliations of non-GAAP costs and
expenses to GAAP costs and expenses
Percent of revenues 65% 65% 66%
7. ProfitabilityProfitability
GAAP
$Millions Q2'07 Q1'08 Q2'08
Income from Operations 1,105$ 1,546$ 1,578$
Operating Margin 29% 30% 29%
Net Income 925$ 1,307$ 1,247$
EPS (diluted) $2.93 $4.12 $3.92
Non-GAAP
$Milli Q2'07 Q1'08 Q2'08$Millions Q2'07 Q1'08 Q2'08
Income from Operations 1,346$ 1,827$ 1,851$
Operating Margin 35% 35% 34%
$ $ $
Note: Please refer to supporting Table 2 for reconciliations of non-GAAP results of operations
Net Income 1,124$ 1,537$ 1,472$
EPS (diluted) 3.56$ 4.84$ 4.63$
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pp g p
measures to the nearest comparable GAAP measures
8. Free Cash FlowFree Cash Flow
$Millions Q2'07 Q1'08 Q2'08
N t h id d bNet cash provided by
operating activities $1,230 $1,780 $1,766
L h f tLess purchases of property
and equipment ($575) ($842) ($697)
Free cash flow (Non-GAAP) $655 $938 $1,069
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9. Table 1 - Reconciliations of non-GAAP costs and expenses
to GAAP costs and expensesto GAAP costs and expenses
$Millions Q2'07
As a % of
Revenues (1) Q1'08
As a % of
Revenues (1) Q2'08
As a % of
Revenues (1)
Cost of Revenues (GAAP) 1 560$ 40% 2 111$ 41% 2 148$ 40%Cost of Revenues (GAAP) 1,560$ 40% 2,111$ 41% 2,148$ 40%
Less: Stock-based compensation (8) (9) (9)
Cost of Revenues (non-GAAP) 1,552$ 40% 2,102$ 41% 2,139$ 40%
Research and development (GAAP) 532$ 14% 673$ 13% 682$ 13%
Less: Stock-based compensation (157) (194) (187)
Research and development (non GAAP) 375$ 10% 479$ 9% 495$ 10%Research and development (non-GAAP) 375$ 10% 479$ 9% 495$ 10%
-
Sales and marketing (GAAP) 356$ 9% 447$ 9% 485$ 9%
Less: Stock-based compensation (36) (43) (43)
Sales and marketing (non-GAAP) 320$ 8% 404$ 8% 442$ 8%
General and administrati e (GAAP) 319$ 8% 409$ 7% 474$ 9%General and administrative (GAAP) 319$ 8% 409$ 7% 474$ 9%
Less: Stock-based compensation (40) (35) (34)
General and administrative (non-GAAP) 279$ 7% 374$ 7% 440$ 8%
Total costs and expenses (GAAP) 2,767$ 71% 3,640$ 70% 3,789$ 71%
Less: Stock-based compensation (241) (281) (273)
Total costs and expenses (non-GAAP) 2,526$ 65% 3,359$ 65% 3,516$ 66%
(1) Percentages based on GAAP revenues of $3,872 million in Q2 '07, $5,186 million in Q1 '08 and $5,367 million in Q2 '08.
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10. Table 2 - Reconciliations of non-GAAP results of operations
measures to the nearest comparable GAAP measuresmeasures to the nearest comparable GAAP measures
Figures in millions except per share amounts Q2'07
Operating
Margin
(1) Q1'08
Operating
Margin
(1) Q2'08
Operating
Margin
(1)
Income from operations (GAAP) 1,105$ 29% 1,546$ 30% 1,578$ 29%
Add St k b d ti 241 281 273Add: Stock-based compensation 241 281 273
Income from operations (non-GAAP) 1,346$ 35% 1,827$ 35% 1,851$ 34%
Net income (GAAP) 925$ 1,307$ 1,247$
Add: Stock-based compensation (net of tax) 199 230 225
Net income (non-GAAP) 1,124$ 1,537$ 1,472$Net income (non GAAP) 1,124$ 1,537$ 1,472$
Net income per share - diluted (GAAP) $2.93 $4.12 $3.92
Net income per share - diluted (non-GAAP) $3.56 $4.84 $4.63
Shares used in per share calculation - diluted 315 317 318
(1) Percentages based on GAAP revenues of $3 872 million in Q2 '07 $5 186 million in Q1 '08 and $5 367 million in Q2 '08(1) Percentages based on GAAP revenues of $3,872 million in Q2 '07, $5,186 million in Q1 '08 and $5,367 million in Q2 '08.
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