EX-99.3 4 g08650exv99w3.htm EX-99.3 FINANCIAL GUIDANCE SUMMARY EX-99.3 FINANCIAL GUIDANCE SUMMARY
 

Exhibit 99.3
2007 Consolidated Financial Guidance Summary
(in millions, except per share data)
                                                                 
    Year Ended     Quarterly Revenue Range  
    December 31, 2007     Q1     Q2     Q3     Q4  
    Range     Actual     Actual     Range     Range  
WebMD
   $ 342.4     $ 354.4                                                  
ViPS
     104.8       106.3                                                  
Porex
     91.5       93.0                                                  
Inter-segment eliminations
     (0.4 )     (0.4 )                                                
 
                                                
Total revenue
   $ 538.3     $ 553.3     $ 122.0     $ 129.3     $ 136.0     $ 143.0     $ 151.0     $ 159.0  
 
                                                            
 
                                                                
Earnings before interest, taxes, non-cash and other items (“Adjusted EBITDA”)(a)
   $ 102.2     $ 110.4                                                  
 
                                                            
                                                 
                    Quarterly Mix  
                    Q1     Q2     Q3     Q4  
Reconciliation of Adjusted EBITDA to income from continuing operations:
                                                
Interest income, net
     21.5       21.0       23 %     26 %     25 %     26 %
Depreciation and amortization
     (47.6 )     (46.5 )     23 %     25 %     26 %     26 %
Non-cash advertising
     (5.7 )     (5.3 )     42 %     0 %     7 %     51 %
Non-cash stock-based compensation
     (37.0 )     (36.5 )     27 %     23 %     27 %     23 %
Income tax provision
     (15.5 )     (16.0 )     6 %     13 %     31 %     50 %
Equity in earnings of EBS Master LLC
     31.0       32.0       22 %     24 %     23 %     31 %
Minority interest in WHC income
     (4.2 )     (5.1 )     2 %     17 %     29 %     52 %
Legal expense (b)
     (0.8 )     (0.8 )     40 %     60 %   NA     NA  
Other income (b)
     1.1       1.1       65 %     35 %   NA     NA  
 
                                                
 
                                    
Income from continuing operations
   $ 45.0     $ 54.3                                  
 
                                            
 
                                                
Adjusted EBITDA per share
   $ 0.54     $ 0.58                                  
 
                                            
Income from continuing operations per share
   $ 0.24     $ 0.29                                  
 
                                            
 
                                                
Weighted average shares — Diluted
     190.0       190.0                                  
 
                                            
 
(a)   See Annex A — Explanation of Non-GAAP Financial Measures
 
(b)   This table reflects actual expense through June 30, 2007 for “legal expense” (for the ongoing Department of Justice investigation) and “other income”, but does not reflect guidance for these items in any future quarter. We do not make projections for these items, although they may recur in future periods.
Operating Segments
Revenue
  *   WebMD — Refer to WebMD Health Corp. Financial Guidance Summary included in its July 31, 2007 press release.
 
  *   ViPS — Approximately 24% of annual segment revenue in Q3 increasing to 26% in Q4.
 
  *   Porex — Approximately 24% of annual segment revenue in Q3 and in Q4.
Adjusted EBITDA
  *   WebMD — Refer to WebMD Health Corp. Financial Guidance Summary included in its July 31, 2007 press release.
 
  *   ViPS — Approximately 18% of segment revenue in Q3 and 21% in Q4.
 
  *   Porex — Approximately 29% of segment revenue in Q3 and 28% in Q4.
 
  *   Corporate — Approximately 5% of consolidated revenue in Q3 decreasing to approximately 4% by Q4.