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| file | filename |
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| 8-K - FORM 8-K - Sensata Technologies Holding plc | form8k100214.htm |
Exhibit 99.1
Summary Historical Financial Information of Schrader
Set forth below is the summary historical financial information of Schrader as of and for the periods indicated.
The summary historical financial information as of December 31, 2013 and for the year ended December 31, 2013 are derived from the audited consolidated financial statements of August Cayman Company, Inc. ("August Cayman").
The summary historical financial information as of June 28, 2014 and for the six months ended June 28, 2014 and June 29, 2013 are derived from August Cayman’s unaudited condensed consolidated financial statements.
The summary historical financial information for the twelve months ended June 28, 2014 has been derived by adding the unaudited historical financial information for the six months ended June 28, 2014 to the audited historical financial information for the year ended December 31, 2013 and subtracting the unaudited historical financial information for the six months ended June 29, 2013.
Year Ended December 31, | Six Months Ended June 28, | Six Months Ended June 29, | Twelve Months Ended June 28, | ||||||||||||||
2013 | 2014 | 2013 | 2014 | ||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||||
(in thousands) | |||||||||||||||||
Statement of Operations Data: | |||||||||||||||||
Sales | $ | 455,427 | $ | 261,003 | $ | 226,270 | $ | 490,160 | |||||||||
Operating costs and expenses: | |||||||||||||||||
Costs of sales | 328,793 | 187,685 | 164,225 | 352,253 | |||||||||||||
Selling, general and administrative | 119,884 | 63,984 | 53,961 | 129,907 | |||||||||||||
Impairment of goodwill | 16,000 | − | − | 16,000 | |||||||||||||
Total operating costs and expenses | 464,677 | 251,669 | 218,186 | 498,160 | |||||||||||||
(Loss)/profit from operations | (9,250) | 9,334 | 8,084 | (8,000) | |||||||||||||
Interest expense and other financing costs | (27,189) | (13,053) | (14,280) | (25,962) | |||||||||||||
Loss before taxes | (36,439) | (3,719) | (6,196) | (33,962) | |||||||||||||
Benefit from income taxes | 11,396 | 2,078 | 1,955 | 11,519 | |||||||||||||
Net loss | $ | (25,043 | ) | $ | (1,641 | ) | $ | (4,241 | ) | $ | (22,443 | ) | |||||
Cash Flow Data: | |||||||||||||||||
Net cash provided by/(used in): | |||||||||||||||||
Operating activities | $ | 27,951 | $ | 6,219 | $ | 6,760 | $ | 27,410 | |||||||||
Investing activities | (38,426 | ) | (22,355 | ) | (13,271 | ) | (47,510 | ) | |||||||||
Financing activities | (2,811 | ) | 16,054 | (1,920 | ) | 15,163 | |||||||||||
Capital expenditures | 36,193 | 21,813 | 12,188 | 45,818 | |||||||||||||
Other Financial Data: | |||||||||||||||||
EBITDA(1) | $ | 51,398 | $ | 32,099 | $ | 29,732 | $ | 53,765 | |||||||||
Adjusted EBITDA(1) | $ | 69,194 | $ | 42,637 | $ | 32,219 | $ | 79,612 | |||||||||
As of December 31, | As of June 28, | |||||||
2013 | 2014 | |||||||
(Unaudited) | ||||||||
(in thousands) | ||||||||
Balance Sheet Data: | ||||||||
Cash and cash equivalents | $ | 8,968 | $ | 9,640 | ||||
Working capital | 39,568 | 38,990 | ||||||
Total assets | 689,296 | 741,066 | ||||||
Total debt, including capital lease and other financing obligations, net of debt discount | 342,611 | 361,858 | ||||||
Total stockholders’ equity | 190,915 | 201,967 | ||||||
______________________
(1) The following table reconciles net loss to EBITDA and Adjusted EBITDA for the periods presented:
Year Ended December 31, | Six Months Ended June 28, | Six Months Ended June 29, | Twelve Months Ended June 28, | |||||||||||||
2013 | 2014 | 2013 | 2014 | |||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||
(in thousands) | ||||||||||||||||
Net loss | $ | (25,043 | ) | $ | (1,641 | ) | $ | (4,241 | ) | $ | (22,443 | ) | ||||
Benefit from income taxes | (11,396 | ) | (2,078 | ) | (1,955 | ) | (11,519 | ) | ||||||||
Interest expense and other financing costs | 27,189 | 13,053 | 14,280 | 25,962 | ||||||||||||
Depreciation | 22,524 | 11,149 | 10,868 | 22,805 | ||||||||||||
Amortization | 22,124 | 11,616 | 10,780 | 22,960 | ||||||||||||
Impairment of goodwill | 16,000 | − | − | 16,000 | ||||||||||||
EBITDA | 51,398 | 32,099 | 29,732 | 53,765 | ||||||||||||
Share-based compensation | 1,264 | 435 | 774 | 925 | ||||||||||||
One-time legal matters | 11,331 | 3,373 | 1,413 | 13,291 | ||||||||||||
Tax indemnification adjustment | 1,551 | 392 | − | 1,943 | ||||||||||||
Start-up costs | − | 5,830 | − | 5,830 | ||||||||||||
Brazil inventory adjustment | 2,748 | − | − | 2,748 | ||||||||||||
Other | 902 | 508 | 300 | 1,110 | ||||||||||||
Adjusted EBITDA | $ | 69,194 | $ | 42,637 | $ | 32,219 | $ | 79,612 | ||||||||