EX-99.3 4 g10244exv99w3.htm EX-99.3 FINANCIAL GUIDANCE SUMMARY ACCOMPANYING EXHIBIT 99.1 EX-99.3 FINANCIAL GUIDANCE SUMMARY TO EXHIBIT 99.1
 

Exhibit 99.3
WEBMD HEALTH CORP.
2007 FINANCIAL GUIDANCE SUMMARY
(in millions, except per share amounts)
                                         
            Quarter Ended     Year Ended  
    Nine Months Ended     December 31, 2007     December 31, 2007  
    September 30, 2007     Range     Range  
Revenue
  $ 238.6     $ 94.0     $ 98.0     $ 332.6     $ 336.6  
 
                                       
Earnings before interest, taxes, depreciation, amortization and other non-cash items (“Adjusted EBITDA”) (a)
    51.8       30.0       32.5       81.8       84.3  
 
                                       
Adjusted EBITDA per diluted common share
  $ 0.87     $ 0.50     $ 0.54     $ 1.36     $ 1.41  
 
                             
 
                                       
Interest, taxes, depreciation, amortization and other non-cash items (b)
                                       
Interest income
    8.5       3.4       3.5       11.9       12.0  
Depreciation and amortization
    (20.0 )     (7.3 )     (7.1 )     (27.3 )     (27.1 )
Non-cash advertising
    (2.5 )     (3.2 )     (3.0 )     (5.7 )     (5.5 )
Non-cash stock-based compensation
    (15.6 )     (4.2 )     (4.1 )     (19.8 )     (19.7 )
Income tax provision (c)
    (4.7 )     (3.4 )     (3.8 )     (8.1 )     (8.5 )
 
                             
 
                                       
Net income
  $ 17.6     $ 15.3     $ 18.0     $ 32.8     $ 35.5  
 
                             
 
                                       
Net income per common share:
                                       
 
                             
Basic
  $ 0.31     $ 0.27     $ 0.32     $ 0.57     $ 0.62  
 
                             
Diluted
  $ 0.29     $ 0.26     $ 0.30     $ 0.55     $ 0.59  
 
                             
 
                                       
Weighted-average shares outstanding used in computing net income per common share:
                                       
Basic
    57.1       57.1       57.1       57.1       57.1  
 
                             
Diluted
    59.7       60.0       60.0       60.0       60.0  
 
                             
 
(a)   See Annex A — Explanation of Non-GAAP Financial Measures
 
(b)   Reconciliation of Adjusted EBITDA to net income
 
(c)   Our guidance for Q4 2007 does not contemplate any benefit stemming from the reversal of valuation allowance against our deferred tax assets

 


 

FINANCIAL GUIDANCE SUMMARY
2008 Financial Guidance
(in millions, except per share amounts)
                 
    Year Ended  
    December 31, 2008  
    Range  
Revenue
  $ 420.0     $ 435.0  
 
               
Earnings before interest, taxes, depreciation, amortization and other non-cash items (“Adjusted EBITDA”) (a)
    120.0       130.0  
 
               
Adjusted EBITDA per diluted common share
  $ 1.94     $ 2.10  
 
           
 
               
Interest, taxes, depreciation, amortization and other non-cash items (b)
               
Interest income
    14.0       15.0  
Depreciation and amortization
    (31.0 )     (29.0 )
Non-cash advertising
    (5.0 )     (5.0 )
Non-cash stock-based compensation
    (23.0 )     (22.0 )
Income tax provision (c)
    (31.0 )     (36.0 )
 
           
 
               
Net income
  $ 44.0     $ 53.0  
 
           
 
               
Net income per common share:
               
Basic
  $ 0.75     $ 0.90  
 
           
Diluted
  $ 0.71     $ 0.85  
 
           
 
               
Weighted-average shares outstanding used in computing net income per common share:
               
Basic
    59.0       59.0  
Diluted
    62.0       62.0  
 
(a)   See Annex A — Explanation of Non-GAAP Financial Measures
 
(b)   Reconciliation of Adjusted EBITDA to net income
 
(c)   Our guidance for 2008 contemplates a non-cash federal tax provision, and does not contemplate any benefit stemming from the reversal of valuation allowance against our deferred tax assets