Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - WebMD Health Corp. | g26232e8vk.htm |
| EX-99.2 - EX-99.2 - WebMD Health Corp. | g26232exv99w2.htm |
| EX-99.1 - EX-99.1 - WebMD Health Corp. | g26232exv99w1.htm |
| EX-99.4 - EX-99.4 - WebMD Health Corp. | g26232exv99w4.htm |
Exhibit 99.3
FINANCIAL GUIDANCE SUMMARY
WebMD
Health Corp.
2011 Financial Guidance
(in millions, except per share amounts)
| Year Ending | ||||||||
| December 31, 2011 | ||||||||
| Guidance Range | ||||||||
Revenue |
$ | 610.0 | $ | 640.0 | ||||
Earnings before interest, taxes, depreciation, amortization
and other non-cash items (“Adjusted EBITDA”) (a) |
$ | 215.0 | $ | 230.0 | ||||
Interest, taxes, depreciation, amortization and other
non-cash items (b) |
||||||||
Interest income |
0.5 | 0.5 | ||||||
Interest expense |
(11.5 | ) | (11.5 | ) | ||||
Depreciation and amortization |
(30.0 | ) | (28.0 | ) | ||||
Non-cash stock-based compensation |
(41.0 | ) | (38.0 | ) | ||||
Pre-tax income from continuing operations |
133.0 | 153.0 | ||||||
Income tax provision |
(56.0 | ) | (64.0 | ) | ||||
Income from continuing operations |
$ | 77.0 | $ | 89.0 | ||||
Income from
continuing operations per share: |
||||||||
Basic |
$ | 1.27 | $ | 1.47 | ||||
Diluted |
$ | 1.22 | $ | 1.40 | ||||
Weighted-average shares outstanding used in computing income
from continuing operations per common share: |
||||||||
Basic |
60.0 | 60.0 | ||||||
Diluted |
68.0 | 68.0 | ||||||
| (a) | See Annex A — Explanation of Non-GAAP Financial Measures | |
| (b) | Reconciliation of Adjusted EBITDA to consolidated income from continuing operations |
Additional information regarding forecast for the first quarter of 2011:
| – | Revenue is forecasted to be in excess of $125 million in the quarter ending March 31, 2011. | ||
| – | Adjusted EBITDA as a percentage of revenue is forecasted to be approximately 27% in the quarter ending March 31, 2011. | ||
| – | Income from continuing operations as a percentage of revenue is forecasted to be approximately 7% in the quarter ending March 31, 2011. |
Additional information regarding full year forecast:
| – | Income tax rate for 2011 is forecasted to be approximately 42% of pretax income. | ||
| – | The distribution of the annual revenue is expected to be approximately 85% public portals advertising and sponsorship and 15% private portal licensing. Quarterly revenue distributions may vary from this annual estimate. | ||
| – | 2011 guidance excludes any gains or losses related to investments / convertible notes. |
Additional
information regarding full year income per share calculation:
| – | Basic income per share: Reflects a reduction to income from continuing operations of $0.6 million to consider the effect of restricted stock. | ||
| – | Diluted income per share: Reflects an increase to income from continuing operations of $6.1 million for the interest expense (net of tax) on the 2.5% Notes of $6.7 million, offset by $0.6 million to consider the effect of restricted stock. The diluted share count of 68 million includes the weighted impact of 6 million shares related to the 2.5% Notes. |