- The document is the transcript from a Q2 2008 earnings call for a healthcare company.
- Key highlights included 2.2% same-hospital admission growth and improving trends in volumes, pricing, and expenses.
- Management discussed strategies around physician relationships and service lines that are helping to increase commercial and total admissions.
- The document is the transcript from a Q3 2008 earnings call for an unnamed company.
- Key highlights included 2.0% growth in same-hospital paying admissions and 2.3% growth in same-hospital paying outpatient visits. However, adjusted EBITDA declined 2.4% to $160 million due to adverse prior year cost report settlements.
- The outlook for 2008 adjusted EBITDA was reduced to $700-750 million and developing the 2009 outlook remains a work in progress.
- Tenet Healthcare reported positive results for Q4'07, with 0.1% admissions growth compared to Q4'06. Volumes in Florida stabilized with a 0.3% decline.
- Commercial managed care revenue grew 8.9% despite a 1.8% decline in admissions, due to increases in net revenue per admission.
- Adjusted EBITDA was $168 million in Q4'07, benefiting from $12 million in lower year-end compensation accruals and a $19 million favorable bad debt adjustment.
- Momentum is building in volumes, pricing from new contracts, and physician staff expansion through recruitment.
Cardinal Health Q2 2009 Earnings Presentationfinance2
This document contains:
1) An overview of Cardinal Health's Q2 FY2009 earnings results, reporting 8% revenue growth and mixed results across business segments.
2) Comments from executives on the Healthcare Supply Chain Services and Clinical and Medical Products segments, noting challenges from capital spending deferrals.
3) Cardinal Health's financial goals for FY2009, which include 6-7% revenue growth and $3.50-$3.60 non-GAAP EPS.
cardinal health Conference Call Presentationfinance2
This document contains the key details from Cardinal Health's Q1 FY2009 investor call on October 29, 2008. It discusses Cardinal's financial results for Q1, including revenue of $24.3 billion (up 11% year-over-year) and operating earnings of $426 million (down 13% year-over-year). It also provides updates on Cardinal's Healthcare Supply Chain Services and Clinical and Medical Products segments. The document outlines Cardinal's financial goals for FY2009 and assumptions, and addresses questions from analysts on the call.
This presentation provides an overview and summary of Johnson & Johnson's 2008 business performance and outlook for 2009. Key points include:
- J&J delivered strong financial results in 2008, meeting guidance targets for sales growth and adjusted earnings per share.
- The company's three business segments - pharmaceuticals, medical devices & diagnostics, and consumer - all experienced sales growth in 2008.
- J&J is advancing its pharmaceutical, medical device, and consumer product pipelines with numerous new product filings planned for 2009-2010.
- While macroeconomic uncertainties may impact 2009 performance, J&J is well positioned due to its diversified business portfolio and continued investment in R&D and new product development.
This document provides a financial summary and outlook for the company. It summarizes progress made in the last two quarters towards goals of profitable growth and a path to $1 billion in EBITDA by 2009. Key drivers include growth in patient volume and pricing, cost controls, and initiatives to increase cash flow and liquidity. Risks that could impact goals include uneven volume growth, changes in payer mix, and slower volume growth. The outlook provides estimates for revenue, expenses, EBITDA, cash flow and other financial metrics for 2008 and 2009.
cardinal health Q3 2008 Earnings Presentationfinance2
The document summarizes Cardinal Health's Q3 FY2008 earnings call. It includes opening remarks from the CEO and CFO. The CFO provides an overview of Q3 financial results including revenue growth of 5% and EPS growth of 13%. Segment results are also summarized, with Healthcare Supply Chain Services facing challenges from repricings and controlled substance regulations while Medical Products and Technologies saw growth from acquisitions. Clinical Technologies and Services saw continued strong performance. Full year guidance targets the mid-point of $3.75-3.85 EPS, excluding a small dilution from a recent acquisition.
aetna Download Documentation Earnings Release and Tables2008 4thfinance9
Aetna reported financial results for Q4 and full year 2008. Q4 operating EPS increased 9% to $0.96 while full year operating EPS grew 13% to $3.93. However, net income declined due to realized capital losses from declining bond values. Total membership grew by 848,000 in 2008 to 17.7 million members. For 2009, Aetna expects operating EPS of $3.85 to $3.95, or 12-14% growth excluding higher pension costs. Revenue increased 12% in Q4 and 14% for the full year due to membership growth and premium rate hikes.
- The document is the transcript from a Q3 2008 earnings call for an unnamed company.
- Key highlights included 2.0% growth in same-hospital paying admissions and 2.3% growth in same-hospital paying outpatient visits. However, adjusted EBITDA declined 2.4% to $160 million due to adverse prior year cost report settlements.
- The outlook for 2008 adjusted EBITDA was reduced to $700-750 million and developing the 2009 outlook remains a work in progress.
- Tenet Healthcare reported positive results for Q4'07, with 0.1% admissions growth compared to Q4'06. Volumes in Florida stabilized with a 0.3% decline.
- Commercial managed care revenue grew 8.9% despite a 1.8% decline in admissions, due to increases in net revenue per admission.
- Adjusted EBITDA was $168 million in Q4'07, benefiting from $12 million in lower year-end compensation accruals and a $19 million favorable bad debt adjustment.
- Momentum is building in volumes, pricing from new contracts, and physician staff expansion through recruitment.
Cardinal Health Q2 2009 Earnings Presentationfinance2
This document contains:
1) An overview of Cardinal Health's Q2 FY2009 earnings results, reporting 8% revenue growth and mixed results across business segments.
2) Comments from executives on the Healthcare Supply Chain Services and Clinical and Medical Products segments, noting challenges from capital spending deferrals.
3) Cardinal Health's financial goals for FY2009, which include 6-7% revenue growth and $3.50-$3.60 non-GAAP EPS.
cardinal health Conference Call Presentationfinance2
This document contains the key details from Cardinal Health's Q1 FY2009 investor call on October 29, 2008. It discusses Cardinal's financial results for Q1, including revenue of $24.3 billion (up 11% year-over-year) and operating earnings of $426 million (down 13% year-over-year). It also provides updates on Cardinal's Healthcare Supply Chain Services and Clinical and Medical Products segments. The document outlines Cardinal's financial goals for FY2009 and assumptions, and addresses questions from analysts on the call.
This presentation provides an overview and summary of Johnson & Johnson's 2008 business performance and outlook for 2009. Key points include:
- J&J delivered strong financial results in 2008, meeting guidance targets for sales growth and adjusted earnings per share.
- The company's three business segments - pharmaceuticals, medical devices & diagnostics, and consumer - all experienced sales growth in 2008.
- J&J is advancing its pharmaceutical, medical device, and consumer product pipelines with numerous new product filings planned for 2009-2010.
- While macroeconomic uncertainties may impact 2009 performance, J&J is well positioned due to its diversified business portfolio and continued investment in R&D and new product development.
This document provides a financial summary and outlook for the company. It summarizes progress made in the last two quarters towards goals of profitable growth and a path to $1 billion in EBITDA by 2009. Key drivers include growth in patient volume and pricing, cost controls, and initiatives to increase cash flow and liquidity. Risks that could impact goals include uneven volume growth, changes in payer mix, and slower volume growth. The outlook provides estimates for revenue, expenses, EBITDA, cash flow and other financial metrics for 2008 and 2009.
cardinal health Q3 2008 Earnings Presentationfinance2
The document summarizes Cardinal Health's Q3 FY2008 earnings call. It includes opening remarks from the CEO and CFO. The CFO provides an overview of Q3 financial results including revenue growth of 5% and EPS growth of 13%. Segment results are also summarized, with Healthcare Supply Chain Services facing challenges from repricings and controlled substance regulations while Medical Products and Technologies saw growth from acquisitions. Clinical Technologies and Services saw continued strong performance. Full year guidance targets the mid-point of $3.75-3.85 EPS, excluding a small dilution from a recent acquisition.
aetna Download Documentation Earnings Release and Tables2008 4thfinance9
Aetna reported financial results for Q4 and full year 2008. Q4 operating EPS increased 9% to $0.96 while full year operating EPS grew 13% to $3.93. However, net income declined due to realized capital losses from declining bond values. Total membership grew by 848,000 in 2008 to 17.7 million members. For 2009, Aetna expects operating EPS of $3.85 to $3.95, or 12-14% growth excluding higher pension costs. Revenue increased 12% in Q4 and 14% for the full year due to membership growth and premium rate hikes.
aetna Download Documentation Earnings Release and Tables2008 1stfinance9
Aetna reported first quarter 2008 results, with operating earnings of $0.92 per share, a 14% increase over the prior year quarter. Total revenue increased 16% to $7.7 billion due to membership growth and premium rate increases. Medical membership increased by 614,000 to 17.5 million. Aetna affirmed its full-year 2008 operating earnings guidance of $4.00 per share and projected medical membership growth of 850,000-900,000 members.
1) Avery Dennison presented preliminary financial results for the first half of 2006, showing earnings per share up 14% due to improved margins.
2) Key priorities include maintaining pricing discipline, achieving $85-100 million in annual savings from restructuring, and accelerating organic sales growth to a target range of 4-6% over the medium term.
3) Emerging markets are seen as a major growth driver, expected to increase their contribution to overall growth and profitability significantly by 2010.
The document provides a summary of the company's financial results for the second quarter of 2006. Key points include:
- Earnings per share increased 8% driven by productivity improvements that expanded operating margins.
- Net sales were even with the prior year due to divestitures and currency impacts, but organic sales grew 2%.
- Margins improved due to productivity gains, though this was partially offset by transition costs and inflation.
- The company is realizing annual savings from restructuring of $85-100 million and raising its cost reduction target.
Bristol-Myers Squibb reported strong fourth quarter 2008 results, with net sales increasing 4% driven by key products like Plavix, Abilify, and Orencia. Gross profit margins improved significantly due to cost improvements and favorable product mix. Research and development expenses increased to fund new collaborations. The company provided guidance for 2009 GAAP EPS of $1.58-$1.73 and non-GAAP EPS of $1.85-$2.00, expecting revenue growth and further margin improvements. Bristol-Myers will continue business development efforts and advancing its pipeline to create long-term shareholder value.
- Honeywell reported strong financial results for 2Q 2008, with sales growth of 13% and EPS growth of 23%. Segment profit was up 13% and net income grew 18%.
- All business segments achieved sales growth, with aerospace, automation and control solutions, and specialty materials experiencing particularly strong growth.
- Honeywell is raising full-year 2008 EPS guidance to a new range of $3.75 to $3.85, excluding an expected gain from the divestiture of its consumables solutions business.
The document provides a financial review and analysis of Avery Dennison's first quarter 2007 results. Key points include:
- Net sales increased 3.9% year-over-year to $860 million, with adjusted organic sales growth of approximately 3%.
- Operating margin increased slightly by 10 basis points to 8.4% despite negative impacts from segment mix and transition costs.
- Reported EPS was $0.80 including $0.02 in restructuring charges.
- Guidance for 2007 remains unchanged, with reported revenue growth expected between 2-5% and operating margin in the range of 9.5-10.5%.
- Pfizer reported its second quarter 2017 earnings results, with revenues of $12.9 billion, a 2% decrease from the second quarter of 2016. Net income increased 50% to $3.1 billion compared to the prior year.
- Several of Pfizer's key drugs performed strongly in the quarter, including Ibrance, Eliquis, and Xeljanz. The company also achieved regulatory approvals for new drugs and indications.
- Pfizer raised its guidance for 2017 adjusted diluted EPS to a range of $2.54 to $2.60 per share, up from its previous range of $2.50 to $2.60. The company reaffirmed the rest of its 2017 financial
This document provides a summary of Aetna Inc.'s financial highlights for the second quarter of 2005, including operating earnings, revenue, medical cost ratios, membership numbers, and balance sheet information. Key figures include operating earnings of $362.6 million, total revenue of $5.49 billion, and medical membership of 14.44 million. The document also includes reconciliations between GAAP and non-GAAP financial measures and definitions of terms.
1) The document provides an earnings conference call forecast for Q4 2007 and full year 2008. It includes details on Q4 2007 results, 2008 forecasts, and questions and answers.
2) Key highlights of Q4 2007 results include earnings per share of $1.24, up 15% from prior year. Operating revenue was up 4% and total revenue up 5%.
3) The forecast expects continued growth in 2008 from contractual revenue increases and favorable foreign exchange rates across all business segments.
- The company reported third quarter 2006 earnings per share of $1.06, up 8% from the prior year. Excluding a pension accounting charge, EPS was $1.12, up 14%.
- All business segments saw revenue growth. Fleet Management Solutions revenue was up 5% and Supply Chain Solutions revenue increased 19%.
- The company's debt to equity ratio was 160% at the end of the third quarter 2006, an increase from 143% at the end of 2005 but still below the long-term target range.
The company reported an 8.1% increase in net sales for the second quarter compared to the prior year. Operating margin before restructuring charges declined slightly by 10 basis points. Earnings per share were $0.87, which includes a $0.16 dilution from the Paxar acquisition. For the full year, the company expects reported revenue growth of 14-16% and operating margin between 9.0-10.0%. Integration costs related to the Paxar acquisition are estimated to be $175-210 million.
Energias do Brasil reported its third quarter 2007 earnings results in a conference call. The company's CEO, CFO, and investor relations officer presented operating and financial performance for the quarter. Energias do Brasil saw growth in energy distributed and volume sold, while facing challenges from rising costs and expenses. Overall, the company reported higher revenues but lower EBITDA compared to the previous year.
Aetna reported its second-quarter 2006 results, with the following key highlights:
- Operating earnings per share of $0.65, up 23% from the prior year, and in line with estimates. Total revenues increased 14% to $6.3 billion.
- Full-year 2006 operating earnings per share guidance increased to a range of $2.77 to $2.79 per share, up from prior guidance.
- Certain areas like a large government case and stop-loss product underperformed due to higher than expected large claims. The commercial risk medical cost ratio was 81.4%, excluding development.
- Membership increased year-over-year but declined slightly sequentially, to
This document is KBR's 2007 Annual Report. It discusses KBR's positioning for growth after separating from Halliburton. Key points include:
- KBR restructured into six business units to better serve customers and capture market opportunities. The business units are seeing success with new contract awards.
- KBR delivered record financial performance in 2007 while also transitioning to an independent company and positioning itself for future growth. Income increased 177% and net income set an all-time record.
- Moving forward, KBR aims to leverage its expertise and capabilities to strengthen customer relationships, continue improving risk management, and create shareholder value through stable, predictable growth across its business units.
The IT department at Tenet Healthcare remains focused on supporting key business objectives such as improving clinical outcomes, growing patient volumes, recruiting and retaining staff, and improving cost metrics through initiatives like expanding clinical systems, developing consumer tools, and streamlining registration processes to enhance the patient experience. IT also aims to deliver effective technologies at a lower cost than peers through standardization, outsourcing, and leveraging centralized expertise.
Terex Corporation is one of the largest manufacturers of construction equipment in the world. It has a diverse portfolio balanced across different construction product categories and geographies. Terex Construction is currently undergoing process improvements and restructuring to optimize costs and margins as North American and Western European markets have softened. However, emerging markets continue to see strong growth and present opportunities. Terex Construction's goals are to achieve $12 billion in sales and 12% operating margins by 2010 through initiatives in supply chain efficiency, pricing discipline, and acquisitions integration.
pulte homes BCF65EEF-0BFE-4C58-8C84-345ECA968DBA_phm_Q42008WebcastSlidesfinance42
- Pulte maintained its strategic focus on strengthening its balance sheet in 4Q 2008 as market conditions deteriorated, increasing cash by $500M to $1.655B despite a $42M reduction in overhead costs and lowering lots under control by 23% to 121,000 units.
- 4Q 2008 revenue fell 43% to $1.7B and pre-tax loss was $479.7M compared to a $453.8M loss in 4Q 2007, with a net loss per share of $1.33 versus $3.46 in the prior year.
- Inventory and land-related impairment charges were $380M in 4Q 2008, with backlog falling to 2,174
dana holdings NominatingCommitteeCharter_013108finance42
The Nominating and Corporate Governance Committee Charter establishes the purpose, composition, duties, and responsibilities of Dana Holding Corporation's Nominating and Corporate Governance Committee. The Committee is responsible for identifying and recommending new board members, evaluating current directors, overseeing corporate governance policies and board evaluations, and ensuring compliance with regulatory governance requirements. The Committee is composed of at least three independent directors and meets as frequently as needed to fulfill its responsibilities of identifying qualified board candidates, developing governance policies, and advising the board on succession planning and compensation matters.
Tenet Healthcare Corporation reported financial results for the fourth quarter of 2007 with improvements over the prior year. Net loss narrowed to $75 million compared to $386 million in the prior year. Same-hospital adjusted EBITDA increased 9.8% to $168 million. Admissions increased 0.1% with growth in managed care admissions, while outpatient visits declined 1.4%. Tenet provided guidance for 2008 of adjusted EBITDA between $775-850 million and earnings per share between negative 3 cents to positive 6 cents.
Tenet Healthcare reported strong operating results for Q4 2008 despite challenges from the weak economy. Same hospital metrics like admissions, outpatient visits, and revenues improved. However, the stock price declined sharply in Q4. Tenet has taken actions to improve physician recruitment and quality of care. For 2009, Tenet expects adjusted EBITDA in the range of $735 million to $800 million, flat to 9% growth over 2008. Tenet will focus on managing volumes, costs, and capital expenditures prudently given economic uncertainties. Physician recruitment exceeded targets and new physicians are contributing to volume growth. Cost control was strong in Q4 and pay-for-performance programs will provide $7 million in new revenues. Ten
- Tenet Healthcare Corporation reported a 1.0% increase in same-hospital admissions for Q1 2008 compared to Q1 2007. Adjusted EBITDA was $239 million for Q1 2008.
- Key strategies of physician relations programs, cost containment initiatives, and pricing enhancements are proving effective in driving volume and EBITDA growth. Volume growth has been positive for two consecutive quarters.
- The outlook for 2008 was revised with pricing strength expected to offset slower outpatient volume growth. Adjusted EBITDA is forecast to remain between $775-850 million.
aetna Download Documentation Earnings Release and Tables2008 1stfinance9
Aetna reported first quarter 2008 results, with operating earnings of $0.92 per share, a 14% increase over the prior year quarter. Total revenue increased 16% to $7.7 billion due to membership growth and premium rate increases. Medical membership increased by 614,000 to 17.5 million. Aetna affirmed its full-year 2008 operating earnings guidance of $4.00 per share and projected medical membership growth of 850,000-900,000 members.
1) Avery Dennison presented preliminary financial results for the first half of 2006, showing earnings per share up 14% due to improved margins.
2) Key priorities include maintaining pricing discipline, achieving $85-100 million in annual savings from restructuring, and accelerating organic sales growth to a target range of 4-6% over the medium term.
3) Emerging markets are seen as a major growth driver, expected to increase their contribution to overall growth and profitability significantly by 2010.
The document provides a summary of the company's financial results for the second quarter of 2006. Key points include:
- Earnings per share increased 8% driven by productivity improvements that expanded operating margins.
- Net sales were even with the prior year due to divestitures and currency impacts, but organic sales grew 2%.
- Margins improved due to productivity gains, though this was partially offset by transition costs and inflation.
- The company is realizing annual savings from restructuring of $85-100 million and raising its cost reduction target.
Bristol-Myers Squibb reported strong fourth quarter 2008 results, with net sales increasing 4% driven by key products like Plavix, Abilify, and Orencia. Gross profit margins improved significantly due to cost improvements and favorable product mix. Research and development expenses increased to fund new collaborations. The company provided guidance for 2009 GAAP EPS of $1.58-$1.73 and non-GAAP EPS of $1.85-$2.00, expecting revenue growth and further margin improvements. Bristol-Myers will continue business development efforts and advancing its pipeline to create long-term shareholder value.
- Honeywell reported strong financial results for 2Q 2008, with sales growth of 13% and EPS growth of 23%. Segment profit was up 13% and net income grew 18%.
- All business segments achieved sales growth, with aerospace, automation and control solutions, and specialty materials experiencing particularly strong growth.
- Honeywell is raising full-year 2008 EPS guidance to a new range of $3.75 to $3.85, excluding an expected gain from the divestiture of its consumables solutions business.
The document provides a financial review and analysis of Avery Dennison's first quarter 2007 results. Key points include:
- Net sales increased 3.9% year-over-year to $860 million, with adjusted organic sales growth of approximately 3%.
- Operating margin increased slightly by 10 basis points to 8.4% despite negative impacts from segment mix and transition costs.
- Reported EPS was $0.80 including $0.02 in restructuring charges.
- Guidance for 2007 remains unchanged, with reported revenue growth expected between 2-5% and operating margin in the range of 9.5-10.5%.
- Pfizer reported its second quarter 2017 earnings results, with revenues of $12.9 billion, a 2% decrease from the second quarter of 2016. Net income increased 50% to $3.1 billion compared to the prior year.
- Several of Pfizer's key drugs performed strongly in the quarter, including Ibrance, Eliquis, and Xeljanz. The company also achieved regulatory approvals for new drugs and indications.
- Pfizer raised its guidance for 2017 adjusted diluted EPS to a range of $2.54 to $2.60 per share, up from its previous range of $2.50 to $2.60. The company reaffirmed the rest of its 2017 financial
This document provides a summary of Aetna Inc.'s financial highlights for the second quarter of 2005, including operating earnings, revenue, medical cost ratios, membership numbers, and balance sheet information. Key figures include operating earnings of $362.6 million, total revenue of $5.49 billion, and medical membership of 14.44 million. The document also includes reconciliations between GAAP and non-GAAP financial measures and definitions of terms.
1) The document provides an earnings conference call forecast for Q4 2007 and full year 2008. It includes details on Q4 2007 results, 2008 forecasts, and questions and answers.
2) Key highlights of Q4 2007 results include earnings per share of $1.24, up 15% from prior year. Operating revenue was up 4% and total revenue up 5%.
3) The forecast expects continued growth in 2008 from contractual revenue increases and favorable foreign exchange rates across all business segments.
- The company reported third quarter 2006 earnings per share of $1.06, up 8% from the prior year. Excluding a pension accounting charge, EPS was $1.12, up 14%.
- All business segments saw revenue growth. Fleet Management Solutions revenue was up 5% and Supply Chain Solutions revenue increased 19%.
- The company's debt to equity ratio was 160% at the end of the third quarter 2006, an increase from 143% at the end of 2005 but still below the long-term target range.
The company reported an 8.1% increase in net sales for the second quarter compared to the prior year. Operating margin before restructuring charges declined slightly by 10 basis points. Earnings per share were $0.87, which includes a $0.16 dilution from the Paxar acquisition. For the full year, the company expects reported revenue growth of 14-16% and operating margin between 9.0-10.0%. Integration costs related to the Paxar acquisition are estimated to be $175-210 million.
Energias do Brasil reported its third quarter 2007 earnings results in a conference call. The company's CEO, CFO, and investor relations officer presented operating and financial performance for the quarter. Energias do Brasil saw growth in energy distributed and volume sold, while facing challenges from rising costs and expenses. Overall, the company reported higher revenues but lower EBITDA compared to the previous year.
Aetna reported its second-quarter 2006 results, with the following key highlights:
- Operating earnings per share of $0.65, up 23% from the prior year, and in line with estimates. Total revenues increased 14% to $6.3 billion.
- Full-year 2006 operating earnings per share guidance increased to a range of $2.77 to $2.79 per share, up from prior guidance.
- Certain areas like a large government case and stop-loss product underperformed due to higher than expected large claims. The commercial risk medical cost ratio was 81.4%, excluding development.
- Membership increased year-over-year but declined slightly sequentially, to
This document is KBR's 2007 Annual Report. It discusses KBR's positioning for growth after separating from Halliburton. Key points include:
- KBR restructured into six business units to better serve customers and capture market opportunities. The business units are seeing success with new contract awards.
- KBR delivered record financial performance in 2007 while also transitioning to an independent company and positioning itself for future growth. Income increased 177% and net income set an all-time record.
- Moving forward, KBR aims to leverage its expertise and capabilities to strengthen customer relationships, continue improving risk management, and create shareholder value through stable, predictable growth across its business units.
The IT department at Tenet Healthcare remains focused on supporting key business objectives such as improving clinical outcomes, growing patient volumes, recruiting and retaining staff, and improving cost metrics through initiatives like expanding clinical systems, developing consumer tools, and streamlining registration processes to enhance the patient experience. IT also aims to deliver effective technologies at a lower cost than peers through standardization, outsourcing, and leveraging centralized expertise.
Terex Corporation is one of the largest manufacturers of construction equipment in the world. It has a diverse portfolio balanced across different construction product categories and geographies. Terex Construction is currently undergoing process improvements and restructuring to optimize costs and margins as North American and Western European markets have softened. However, emerging markets continue to see strong growth and present opportunities. Terex Construction's goals are to achieve $12 billion in sales and 12% operating margins by 2010 through initiatives in supply chain efficiency, pricing discipline, and acquisitions integration.
pulte homes BCF65EEF-0BFE-4C58-8C84-345ECA968DBA_phm_Q42008WebcastSlidesfinance42
- Pulte maintained its strategic focus on strengthening its balance sheet in 4Q 2008 as market conditions deteriorated, increasing cash by $500M to $1.655B despite a $42M reduction in overhead costs and lowering lots under control by 23% to 121,000 units.
- 4Q 2008 revenue fell 43% to $1.7B and pre-tax loss was $479.7M compared to a $453.8M loss in 4Q 2007, with a net loss per share of $1.33 versus $3.46 in the prior year.
- Inventory and land-related impairment charges were $380M in 4Q 2008, with backlog falling to 2,174
dana holdings NominatingCommitteeCharter_013108finance42
The Nominating and Corporate Governance Committee Charter establishes the purpose, composition, duties, and responsibilities of Dana Holding Corporation's Nominating and Corporate Governance Committee. The Committee is responsible for identifying and recommending new board members, evaluating current directors, overseeing corporate governance policies and board evaluations, and ensuring compliance with regulatory governance requirements. The Committee is composed of at least three independent directors and meets as frequently as needed to fulfill its responsibilities of identifying qualified board candidates, developing governance policies, and advising the board on succession planning and compensation matters.
Tenet Healthcare Corporation reported financial results for the fourth quarter of 2007 with improvements over the prior year. Net loss narrowed to $75 million compared to $386 million in the prior year. Same-hospital adjusted EBITDA increased 9.8% to $168 million. Admissions increased 0.1% with growth in managed care admissions, while outpatient visits declined 1.4%. Tenet provided guidance for 2008 of adjusted EBITDA between $775-850 million and earnings per share between negative 3 cents to positive 6 cents.
Tenet Healthcare reported strong operating results for Q4 2008 despite challenges from the weak economy. Same hospital metrics like admissions, outpatient visits, and revenues improved. However, the stock price declined sharply in Q4. Tenet has taken actions to improve physician recruitment and quality of care. For 2009, Tenet expects adjusted EBITDA in the range of $735 million to $800 million, flat to 9% growth over 2008. Tenet will focus on managing volumes, costs, and capital expenditures prudently given economic uncertainties. Physician recruitment exceeded targets and new physicians are contributing to volume growth. Cost control was strong in Q4 and pay-for-performance programs will provide $7 million in new revenues. Ten
- Tenet Healthcare Corporation reported a 1.0% increase in same-hospital admissions for Q1 2008 compared to Q1 2007. Adjusted EBITDA was $239 million for Q1 2008.
- Key strategies of physician relations programs, cost containment initiatives, and pricing enhancements are proving effective in driving volume and EBITDA growth. Volume growth has been positive for two consecutive quarters.
- The outlook for 2008 was revised with pricing strength expected to offset slower outpatient volume growth. Adjusted EBITDA is forecast to remain between $775-850 million.
Trevor Fetter, President and CEO of Tenet Healthcare Corporation, presented at the Barclays Capital Global Healthcare Conference on March 10, 2009. The presentation included forward-looking statements about Tenet's financial performance and operating trends. It highlighted that Tenet has experienced positive admissions growth and outpatient visit growth in recent years, strong commercial pricing increases, controllable cost growth of 0.8%, and an 11.4% increase in adjusted EBITDA from 2007 to 2008. The presentation also noted Tenet's favorable geographic footprint in states experiencing above-average population growth.
Aetna provided projected financial information for 2005, including:
- Operating earnings per share of $4.52-$4.57, total operating earnings of $1.375-$1.390 billion, and 2Q05 operating earnings per share of $1.05.
- Revenue growth excluding capital gains/losses of 13-15% and an operating expense ratio under 19%.
- A pretax operating margin of approximately 10% and an effective tax rate of approximately 36%.
- Operating earnings for the Health Care segment of $1.300-$1.315 billion and medical membership growth of 1-1.075 million members.
Tenet Healthcare Corporation reported financial results for the fourth quarter of 2008 with some improvements but also challenges. Same-hospital adjusted EBITDA grew 27.2% year-over-year to $201 million. Paying admissions grew 0.1% while total admissions declined 0.2%. Surgeries grew 2.1% led by a 3.7% increase in outpatient surgeries. For 2009, Tenet expects adjusted EBITDA in the range of $735-800 million but anticipates pressure on bad debt and commercial volumes.
Tenet Healthcare Corporation reported financial results for the fourth quarter and full year of 2008. For Q4 2008, revenue increased 27.6% to $199 million compared to Q4 2007. Same-hospital revenue grew 27.2% over the prior year. For the full year 2008, revenue grew 11.4% to $732 million over 2007. Volume metrics like admissions were flat to up slightly for Q4 2008 compared to prior year. Tenet provided an outlook for 2009 adjusted EBITDA in the range of $735-$800 million.
Tenet Healthcare Corporation reported financial results for the fourth quarter and full year of 2008. For the quarter, revenue increased 4.9% to $2.17 billion due to pricing increases, while expenses were well controlled. Adjusted EBITDA rose 27.6% to $199 million. For the full year, net income was $25 million compared to a prior year loss, and adjusted EBITDA increased 11.4% to $732 million. Tenet provided guidance for 2009 adjusted EBITDA in the range of $735-800 million.
Tenet Healthcare Corporation reported net income of $70 million for the first quarter of 2006, compared to a net loss of $4 million in the first quarter of 2005. Revenues increased 0.2% to $2.357 billion for same-hospital operations due to a 3.1% increase in compact-adjusted net operating revenues, which excludes discounts provided to uninsured patients. Same-hospital admissions declined 3.3% to 161,756 due to factors such as competition and challenges retaining physicians.
Tenet Healthcare Corporation reported financial results for the first quarter of 2008 with the following highlights:
- Admissions increased 1.0% while same-hospital adjusted EBITDA rose 23% to $239 million.
- Net operating revenues increased 6.7% to $2.367 billion, driven by growth in commercial managed care contracts and admissions.
- Net loss was $31 million compared to net income of $75 million in the prior year period, impacted by a $30 million litigation charge.
Tenet Healthcare Corporation reported financial results for the 4th quarter of 2006 with a loss of $386 million compared to a loss of $286 million in the 4th quarter of 2005. Net operating revenues increased 2.6% to $2.179 billion. Adjusted EBITDA was $153 million, up 24.4% from $123 million in 2005. Admissions declined 0.9% to 143,110. While pricing increased, admissions declines and unfavorable mix shifts toward government programs continued to affect financial performance.
Aetna provided projected financial information for 2005, including:
- Operating earnings per share of $4.52-$4.57 and $1.375-$1.390 billion for the full year.
- Revenue growth of over 13% excluding capital gains/losses.
- An operating expense ratio slightly above 19% and pretax operating margin of approximately 10%.
- Medical membership growth of 1,000k-1,075k for their Health Care segment.
Aetna provided projected financial information for 2005, including:
- Operating earnings per share of $4.52-$4.57, total operating earnings of $1.375-$1.390 billion, and 3Q05 operating earnings per share of $1.16.
- Revenue growth of greater than 13% excluding capital gains/losses.
- Total operating expense ratio slightly above 19%.
- Pretax operating margin of approximately 10% and effective tax rate of approximately 36%.
- Corporate interest expense of approximately $80 million.
- Cardinal Health reported financial results for its third quarter of fiscal year 2018, ending March 31, 2018.
- Total revenue increased 6% year-over-year to $33.6 billion. However, operating earnings decreased 10% to $546 million and net earnings decreased 33% to $255 million.
- The Pharmaceutical segment saw a 5% increase in revenue driven by sales growth, but segment profit decreased due to generic program performance. The Medical segment had a 15% revenue increase from acquisitions, and a 34% increase in segment profit.
- For fiscal year 2018, Cardinal Health expects revenue to increase by a mid-single digit percentage and non-GAAP EPS to be between $
- Net sales increased 5% year-over-year driven by higher unit volume and positive pricing and mix changes. Emerging markets saw 15% growth while US growth slowed.
- Gross margins increased 120 bps to 27.6% due to productivity gains offsetting transition costs. Operating margins improved 20 bps before environmental and restructuring charges.
- The company remains on track to achieve $90-100M in annual savings from restructuring with $45-50M expected to benefit 2006 results. Reported EPS was $0.85 including environmental and restructuring charges.
- The document provides an overview of the company's financial results for the third quarter of 2008, including sales, margins, cash flow, and earnings guidance.
- Key highlights include organic sales declining 2.4% due to economic slowdown, operating margin decreasing 240 bps to 6.6% from raw material inflation and reduced leverage, and free cash flow guidance of $375 million.
- Actions are being taken to address challenges, including additional price increases, productivity initiatives, and protecting investments in growth areas.
The document discusses mergers and acquisitions (M&A) activity in the healthcare information technology (HCIT) sector in 2011. Key points include:
- Significant M&A activity in HCIT in 2011, driven by larger deals like ExpressScripts' acquisition of Medco and Blackstone's acquisition of Emdeon.
- Government initiatives promoting electronic health records and mobile health applications, along with rising healthcare costs, are fueling investment and consolidation in the HCIT sector.
- The HCIT market in the US is expected to reach $40 billion by the end of 2011 and grow at an annual rate of 24% through 2014, with spending on healthcare software rising over 20% in 2011.
The document summarizes recent mergers and acquisitions (M&A) activity in the healthcare information technology (HCIT) sector in 2011. Key points include:
- ExpressScripts' $29 billion acquisition of Medco and Blackstone's $3 billion acquisition of Emdeon were two major deals in 2011, signaling continued consolidation in the sector.
- Government incentives promoting electronic health records and regulations requiring healthcare automation will drive further investment and M&A activity over the next few years.
- Spending on HCIT in the US is expected to reach $40 billion in 2011 and grow at 24% annually through 2014, with electronic health records and mobile apps seeing strong growth.
- Rising healthcare
This presentation provides an overview and summary of Johnson & Johnson's 2008 business performance and outlook for 2009. Key points include:
- J&J delivered sales growth of 4.3% in 2008 and exceeded earnings guidance despite challenges.
- Consumer and Medical Devices & Diagnostics saw sales growth while Pharmaceutical sales declined due to patent expirations.
- The company is focusing on new product launches, emerging markets, and cost reductions to address current economic pressures.
- J&J's strategic focus is on winning in healthcare through R&D, new growth platforms, and participation in public policy to shape the evolving healthcare environment.
This presentation provides an overview and summary of Johnson & Johnson's 2008 business performance and outlook for 2009. Key points include:
- J&J delivered sales growth of 4.3% in 2008 and exceeded earnings guidance. All three business segments - pharmaceutical, medical devices & diagnostics, and consumer - experienced sales growth.
- The presentation identifies growth drivers and pipeline advancements across J&J's businesses. It also addresses challenges from the economic environment and strategies to manage pressures in 2009.
- Looking forward, J&J will focus on growing existing businesses, building new platforms, and participating in healthcare policy to "win in healthcare" over the long term.
johnson & johnson PDF Download Presentationfinance4
This presentation provides an overview and summary of Johnson & Johnson's 2008 business performance and outlook for 2009. Key points include:
- J&J delivered sales growth of 4.3% in 2008 and exceeded earnings guidance. All three business segments - pharmaceutical, medical devices & diagnostics, and consumer - experienced sales growth.
- The presentation identifies growth drivers and pipeline advancements across J&J's businesses. It also addresses challenges from the economic environment and strategies to manage pressures in 2009.
- Looking forward, J&J will focus on growing existing businesses, building new platforms, and participating in healthcare policy to position itself for long-term leadership in an evolving industry.
This document is a press release from Cardinal Health announcing their fiscal 2008 results and fiscal 2009 outlook. Some key points:
- Fiscal 2008 revenue increased 5% to $91 billion and GAAP EPS increased 76% to $3.64. Non-GAAP EPS grew 11% to $3.80.
- The company is exploring a potential spin-off of their clinical and medical products businesses into a separate publicly traded company.
- For fiscal 2009, revenue is expected to grow 6-7% while non-GAAP EPS is expected to be between $3.80-$3.95, though investments in R&D and IT may impact near-term growth.
- Challenges in the
SAIC's employees are dedicated to delivering innovative solutions to support clients worldwide, particularly those on the front lines of homeland security and the war in Iraq. The document discusses several ways SAIC supports homeland security, including through emergency preparedness and response training, securing borders and transportation, and responding to nuclear, biological, and chemical threats. SAIC has extensive experience supporting government agencies and was chosen to integrate the new Department of Homeland Security's data network.
This document provides a 3-page annual report for SAIC, a technology and engineering company, for their 35th anniversary in 2004. It summarizes SAIC's history and accomplishments over 35 years, including helping analyze nuclear weapons, undertaking projects in nuclear energy and healthcare, and solving difficult problems for customers in many fields. It discusses SAIC's continued commitment to employee ownership and customer focus. The message to stockholders outlines SAIC's strategies under new CEO Ken Dahlberg to better serve customers, recommit to traditional values, and drive continued growth, including reorganizing into fewer customer-focused units and setting a goal to double the company's value in 5 years.
SAIC delivered strong financial and technical performance in fiscal year 2005. Revenues increased 23% to $7.2 billion and operating income rose 24%. SAIC won many new contracts and saw record contract awards and backlog. Going forward, SAIC aims to capture larger systems integration contracts while maintaining an entrepreneurial culture and pursuing new opportunities in areas like digital oilfield technology. SAIC also seeks to strengthen workforce diversity and development.
The document is SAIC's annual report for fiscal year 2006. It summarizes SAIC's financial performance for the year, highlighting increased revenues of $7.8 billion, net income of $927 million, and diluted earnings per share of $5.15. It also outlines SAIC's strategic business areas of homeland security, intelligence solutions, defense transformation, logistics and transportation, systems engineering and integration, and research and development. The report discusses SAIC's response to hurricanes Katrina and Rita and its commitment to customers, employees, and shareholders.
SAIC provides technical solutions and operational support to government agencies and commercial customers in key areas such as homeland security, intelligence, defense, logistics, and IT. In fiscal year 2007, SAIC achieved revenue growth of 7% and operating income growth of 19% while making strategic acquisitions to expand capabilities. SAIC is committed to executing strategies to accelerate organic growth, expand operating margins, and make additional strategic acquisitions.
1) SAIC achieved strong financial results in FY2008, with revenues of $8.94 billion, up 11% from FY2007, and operating income of $666 million, up 16% from the previous year.
2) SAIC completed strategic acquisitions to expand in energy, infrastructure, and environment areas and appointed a new COO, Larry Prior, to lead organizational transition efforts.
3) Project Alignment is a major multi-year initiative to improve performance by integrating HR, finance, IT and other functions into a shared services model across the company.
The document provides an overview of Terex Corporation for a May 2008 investor conference. It discusses Terex's purpose, mission, and vision. It summarizes Terex's sales, operating profit, and geographic diversity for 2007. It also outlines goals to achieve $12 billion in sales and 12% operating margin by 2010. Finally, it discusses opportunities to improve margins through pricing actions, supply management, productivity initiatives, and The Terex Way values.
The document provides an overview of Terex Corporation and its business segments for an investor conference. It summarizes that Terex has a diversified portfolio across industries and geographies that provides balance through economic cycles. It also outlines opportunities to improve margins through pricing actions, supply management initiatives, and productivity improvements. The goal is to achieve $12 billion in sales and a 12% operating margin by 2010.
The document provides an overview of Terex Corporation for a Merrill Lynch conference. It discusses Terex's purpose, mission, and vision. It also summarizes Terex's diversified business segments and product lines, with aerial work platforms, construction equipment, cranes, material processing and mining equipment being the largest segments. The document outlines Terex's goals for 2010 of achieving $12 billion in sales and 12% operating margins.
The document provides an overview of Terex Corporation from its Basics Industrials Conference presentation on May 8, 2008. It discusses Terex's purpose, mission, and vision. It highlights Terex's strong and diversified revenue base, with income from operations increasing 36% in 2007 and 28% in Q1 2008. It outlines Terex's goals for 2010 of $12 billion in sales and 12% operating margin. The document also provides an overview of each of Terex's business segments.
Terex Corporation provides forward-looking statements and non-GAAP measures in their presentation. Their purpose is to improve people's lives around the world through their construction equipment. Their mission is to delight customers with high-quality products and services that exceed expectations. Their vision is to be the most customer-responsive, profitable, and desirable place for employees to work in the industry. Terex has a strong and diversified revenue base globally, with income and sales growing significantly in recent years. They are the 3rd largest construction equipment manufacturer in the world, with over 75% of sales where they have a strong market presence.
The annual shareholder meeting presentation covered the following key points in 3 sentences:
Terex aims to achieve $12 billion in sales and 12% operating margin by 2010 through executing on supply chain management, pricing discipline, and lean initiatives to improve margins. The company has a diverse portfolio of products and geographic presence to balance performance across economic cycles. Opportunities for margin improvement include coordinating supply efforts, optimizing manufacturing footprint, and pricing actions to offset rising costs.
1) The annual shareholder meeting presentation discusses Terex Corporation's financial goals for 2010, including achieving $12 billion in sales with a 12% operating margin and 15% working capital to sales ratio.
2) It provides an overview of Terex's business segments and their market positions, with approximately 75% of sales generated in markets where Terex has a leading position.
3) The presentation highlights Terex's sales and backlog figures by business segment for the last twelve months through March 2008, with aerial work platforms sales up 9% and cranes sales up 26% compared to the prior year.
This document contains the presentation from Tim Ford, President of Terex Aerial Work Platforms, at the JPMorgan Basics & Industrials Conference on June 4, 2008. Ford discusses the strong sales growth and global expansion of Terex AWP over the past decade. He outlines the secular growth drivers of the aerial work platform industry and Terex AWP's strategy to further strengthen and globalize its business, maximize revenue and profit from its large installed base, and extend its product offerings beyond aerials. Ford also highlights opportunities to apply lean principles more broadly across the value chain through partnerships with customers and suppliers.
Terex Corporation provides forward-looking statements and non-GAAP measures in their presentation. Their purpose is to improve people's lives around the world through their construction equipment. Their mission is to delight customers with high-quality products and services that exceed expectations. Their vision is to be the most customer-responsive, profitable, and desirable place for employees to work in the industry. Terex has a strong and diversified revenue base globally, with income and sales growing substantially in recent years. They are the third largest construction equipment manufacturer in the world, with over 75% of sales where they have a strong market presence.
This document contains the presentation from Tim Ford, President of Terex Aerial Work Platforms, at the JPMorgan Basics & Industrials Conference on June 4, 2008. Ford discusses the strong sales growth and global expansion of Terex AWP over the past decade. He outlines the secular growth drivers for the aerial work platform industry and Terex AWP's strategies to further strengthen and globalize its business, maximize revenue and profit from its large installed base, and extend its product offerings beyond aerials. Ford also highlights opportunities to apply lean principles more broadly across the value chain and customer relationships.
Terex is a leading manufacturer of construction and mining equipment with strong market positions. It aims to grow sales to $12 billion by 2010 through executing on initiatives to improve supply chain management, pricing discipline, and productivity. Terex has a diversified business across products and geographies to balance performance through different economic cycles.
Terex is a leading manufacturer of construction and mining equipment with sales of $9.1 billion in 2007. It aims to grow sales to $12 billion by 2010 through organic growth and acquisitions while improving operating margins to 12% and reducing working capital to sales ratio to 15%. Terex has a diversified business across products and geographies that provides balance throughout the economic cycle.
Terex is the 3rd largest manufacturer of construction equipment in the world based on last twelve months of available Construction Equipment Sales. Terex has a strong and diversified revenue base with almost 70% of 2007 sales generated outside of the USA. Approximately 75% of 2007 sales were generated in markets where Terex has a larger market presence than competitors and/or a significant market share.
Sales and backlog for Terex's business segments through March 31, 2008:
- Aerial Work Platform sales increased 9% with backlog up 4% from the previous period.
- Crane segment sales rose 26% and backlog grew 70% over the same period.
- Material Processing & Mining sales were flat while backlog declined slightly.
Overall, Terex is experiencing growth across most segments though some backlogs decreased slightly from the prior period.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
How to Identify the Best Crypto to Buy Now in 2024.pdfKezex (KZX)
To identify the best crypto to buy in 2024, analyze market trends, assess the project's fundamentals, review the development team and community, monitor adoption rates, and evaluate risk tolerance. Stay updated with news, regulatory changes, and expert opinions to make informed decisions.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
2. Forward-Looking Statements
Certain statements contained in this presentation constitute forward-looking statements. Such forward-looking statements are based on
management's current expectations and involve known and unknown risks, uncertainties and other factors that may cause the
Company’s actual results to be materially different from those expressed or implied by such forward-looking statements. Such factors
include, among others, the following: general economic and business conditions, both nationally and regionally; industry capacity;
demographic changes; changes in, or the failure to comply with, laws and governmental regulations; the ability to enter into managed
care provider arrangements on acceptable terms; changes in Medicare and Medicaid payments or reimbursement, including those
resulting from a shift from traditional reimbursement to managed care plans; liability and other claims asserted against the Company;
competition, including the Company’s failure to attract patients to its hospitals; the loss of any significant customers; technological and
pharmaceutical improvements that increase the cost of providing, or reduce the demand for, health care; a shortage of raw materials, a
breakdown in the distribution process or other factors that may increase the Company’s cost of supplies; changes in business strategy
or development plans; the ability to attract and retain qualified personnel, including physicians, nurses and other health care
professionals, including the impact on the Company’s labor expenses resulting from a shortage of nurses or other health care
professionals; the significant indebtedness of the Company; the availability of suitable acquisition opportunities and the length of time it
takes to accomplish acquisitions; the Company's ability to integrate new businesses with its existing operations; and the availability and
terms of capital to fund the expansion of the Company's business, including the acquisition of additional facilities. Certain additional
risks and uncertainties are discussed in the Company’s filings with the Securities and Exchange Commission, including the Company’s
annual report on Form 10-K and quarterly reports on Form 10-Q. Do not rely on any forward-looking statement, as we cannot predict or
control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any
forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.
Non-GAAP Information
This document includes certain financial measures and statistics, including measures such as adjusted EBITDA, which are not
calculated in accordance with Generally Accepted Accounting Principles (GAAP). Management recommends that you focus on the
GAAP numbers as the best indicator of financial performance. These alternative measures are provided only as a supplement to aid in
analysis of the Company.
Reconciliation between non-GAAP measures and related GAAP measures can be found in our quarterly earnings release issued on
August 5, 2008.
2
4. “Same-hospital” (1) vs. “Core same-hospital” (2) stats
Core
Growth rates are Q2’08 over Q2’07
Same-Hospital Same-Hospital
Admissions growth (%) 1.9 2.2
Paying admissions growth (%) 1.8 2.2
Outpatient visit growth (%) (0.3) 0
Paying O/P visit growth (%) 0.4 0.6
Adjusted admissions growth (%) 2.8 3.2
Surgeries growth (%) 2.3 3.0
Commercial Admit growth (%) (2.2) (1.7)
Commercial O/P visit growth (%) (1.8) (1.5)
Commercial admit growth in 8 1.3 1.9
TGI service lines (%)
Commercial revenue growth (%) 7.5 8.1
Adjusted EBITDA ($mm) 171 171
(1) Same-hospital excludes Coastal Carolina Medical Center and Sierra Providence East Medical Center
(2) Core same-hospital also excludes Irvine Regional Hospital and Medical Center and Community Hospital of
Los Gatos from same-hospital data
4
5. Growth strategies and performance improvement
initiatives are working
2.2% growth in core, same-hospital admissions
Extends recent admissions growth trends
Strongest growth in four years
2.2% increase in paying admissions
0.6% increase in paying outpatient visits
Commercial admissions declined by 1.7% (core, same-hospital)
Over 90% of commercial decline in OB admissions, which is generally de-
emphasized under TGI
1.9% increase in commercial admissions in eight primary TGI service lines
(core, same-hospital)
3.2% increase in same-hospital controllable operating expense per adjusted
patient day
2.6% increase on a core, same-hospital basis
3.0% increase in core, same-hospital surgeries
5
6. 2008 - 2009 Outlook updated only for USC sale
California concentration reduced
USC plus four other hospital divestitures and/or lease expirations
Encino and Tarzana sales (already in disc ops) reduces cash drain
Broadlane investment to be monetized
$155mm
MOB sale of 31 buildings continues to move forward
$750mm to $950mm in cash expected to be raised in next 18 months
Including $650mm to $850mm in 2008
Approx $50mm raised through 6/30/08
6
7. 2009 P & L impact of actions to enhance balance
sheet efficiencies (1)
$50 million = approximate full run rate(2) reduction in EBITDA
$80 million = approximate full year reduction of net interest expense,
depreciation, and other items
Up to $30 million = net positive future impact on pre-tax income and
free cash flow
And,
$50mm in seismic requirements eliminated
$40mm annual cash flow consumption at Encino-Tarzana curtailed
(1) Tenet has not yet made a final decision on use of cash proceeds. Analysis is illustrative, for modeling purposes only.
(2) Results for 2008 are not fully impacted as $10mm to $15mm still in 2008 results
7
9. Key strategies are working
Supporting evidence visible in:
Admissions growth
Commercial volume growth in TGI service lines
Net growth of active medical staff
9
10. Admissions growth is accelerating
Admissions increased by 2.2% (core, same-hospital)
Every region up by 2.5%, or greater, with exception of
Southern States Region
Florida admissions increased by 3.0%
Philadelphia admissions increased by 5.1%
Philadelphia’s Q3’08 growth will be reduced by pre-admission review
diverting incremental patients to observation status
While Florida and Philadelphia are not large
commercial markets, their volume growth is solidly
profitable
10
11. Commercial admissions growth in TGI service lines(1)
TGI exceeds total commercial admissions growth
Core, same-hospital commercial admissions
4%
TGI Service lines (1)
1.9%
2%
All service lines
0%
Y-o-Y Growth
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
-2%
-4%
-6% 2008
2007
-8%
2006
(1) 8 service lines which are typically emphasized by TGI: general surgery, major trauma, neonatal,
neurological medicine, neurosurgery, open heart, orthopedic surgery, and Cath/EP.
11
12. Physician Relationship Program driving
PRP
continued growth in medical staffs
3,836 visits to 2,109 new physicians in Q2’08
354 net new physicians added in Q2’08 to active
medical staff
Includes 119 physicians added to new El Paso hospital
14,657 visits to 7,642 current medical staff members
Admissions from these 7,642 physicians increased by
5.0% in Q2’08 over Q2’07 admissions
12
13. Outpatient
Visits
0.6% increase in paying core O/P visits
28% increase in freestanding ASC volumes
13
15. Growing evidence that inflection point has been
passed
Admissions up 2.2%
Paying outpatient visits up 0.6%
Medical staff up by 354, or 2.8%, in Q2’08
Cost efficiency enhanced
15
24. Core, Same-Hospital Adjusted EBITDA and EBITDA
Margins Have Been Expanding
($ in millions)
Adjusted EBITDA
Adjusted EBITDA Margin
$250 12.0%
10.0%
$200
Without CMS Adjustment
8.0%
$150
6.0%
$100
4.0%
$50
2.0%
$0 0.0%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2006 2007 2008
24
25. Revised 2008-2009 Outlook
(Continuing operations excluding Irvine and Los Gatos)
2009
2008
Adjusted Adjusted
($mm) Revenue Cost Revenue Cost
Line
EBITDA EBITDA
#
1 Prior year (excluding Irvine & Los Gatos) 8,167 (7,510) 657 8,715 (7,890) 825
2 2007 Cost Report Adjustments (40) - (40) - - -
3 Georgia/ Florida Medicaid (56) - (56) - - -
4 Volume(1) 114 (68) 46 154 (93) 61
5 Pricing – Base Line Increase (2) 358 (21) 337 286 (22) 264
6 Managed Care (3) 47 - 47 34 - 34
7 Other Initiatives (4) 47 (16) 31 - - -
8 Costs – Base Line Inflation(5) - (274) (274) - (253) (253)
9 Cost Reduction Initiatives (6) - 92 92 - 29 29
10 Other(7) 78 (93) (15) 86 (46) 40
11 Total(8) 8,715 (7,890) 825 9,275 (8,275) 1,000
(1) 2008: assumes admissions growth of 1.5%; flat outpatient visit volumes; using 2007’s average pricing. 2009: admissions growth of 2.0%; outpatient
visit growth of 1.5%; using 2008’s average pricing. Margin assumption on incremental revenues is 40%.
(2) Base line pricing increases of 4.4% for 2008. These assumptions are before discrete initiatives valued in this analysis, and include certain
assumptions on adverse mix change
(3) Rate parity price increases in existing contracts and anticipated future increases.
(4) Full-year impact of 2007’s ED acuity capture effort and incremental adjustments to chargemaster.
(5) Inflation rate reflecting normal merit increases, union contract adjustments, supplies cost increases and other items before discrete initiatives valued in
this analysis.
(6) Full year impact of cost initiatives initiated in 2007.
(7) Includes impact of Sierra Providence East Medical Center (El Paso), Coastal Carolina Hospital, physician practices and other non-acute operations.
(8) Various risks including volume growth, volume mix, and bad debt create at least $75 million in uncertainties for 2008 performance, hence the adjusted
EBITDA outlook range from $750 mm to $825mm. 2009 uncertainties exceed those identified for 2008.
This schedule is not intended to provide a series of spot estimates or line item guidance. Other combinations of line item
performance could produce the same or higher, or lower results.
25
26. Free Cash Flow Objective – 2009
($mm)
EBITDA 1,000
Stock compensation expense 40
Interest expense (net) (360)
Working capital (0 - 50)
Capital expenditures (550 – 600)
Free Cash Flow 30 – 130
Global settlement payment (90)
Net Free Cash Flow (60) - 40
Beyond 2009 Free Cash Flow is expected to improve from:
Global settlement obligation is retired in 2010
40% estimated margin rate on volume growth
26
27. 2008 Cash Walk Forward
Low High
($mm)
December 31, 2007 Beginning Cash 572
2008 EBITDA 750 825
Add Back: Stock Compensation Charges 38 38
Changes in Cash from Operating Assets and Liabilities (17) 8
Interest Payments (396) (396)
375 475
Adjusted Net Cash Provided by Operating Activities
Income Tax (payments) refunds, net (45) (45)
Payments against reserves for restructuring charges, litigation costs and
(100) (100)
settlements
Net cash used in operating activities from discontinued operations/leased
(55) (30)
facilities
Capital Expenditures (600) (650)
Other Investing Activities 58 83
Net Financing Activities (5) (5)
Potential cash from initiatives and divestitures 650 850
Cash Outlook December 31, 2008 850 1,150
27
28. 2008 Cash Walk Forward
High
Low
($mm)
June 30, 2008 Cash Balance 352
EBITDA Outlook, remainder of 2008 365 440
Add back: Stock compensation charges 19 19
Working capital timing and improvements 144 169
Interest Payments (200) (200)
328 428
Adjusted Net Cash Provided by Operating Activities
Income Tax (payments) refunds, net (42) (42)
Payments against reserves for restructuring charges, litigation costs and
(44) (44)
settlements
Net cash used in operating activities from discontinued operations/leased
(57) (32)
facilities
Capital Expenditures (301) (351)
Other Investing Activities 20 45
Net Financing Activities (6) (6)
Potential cash initiatives and divestitures 600 800
Cash Outlook December 31, 2008 850 1,150
28
29. Reconciliation of 2008 Outlook net loss to
adjusted EBITDA
($mm) Low High
Net loss (120) (20)
Less: Loss from discontinued ops, net of tax (25) -
Income (loss) from continuing operations (95) (20)
Income tax benefit 5 5
Income (loss) from continuing operations, before income taxes (100) (25)
Interest expense, net (400) (400)
Operating income 300 375
Litigation and investigation costs (50) (50)
Depreciation and amortization (400) (400)
Adjusted EBITDA 750 825
29