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PK ! ?8$ $ xl/workbook.xml
PK ! _Qy" y" xl/sharedStrings.xml
Viad Corp¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))Debt was $141.0 millionBusiness
Group HighlightsFourth
QuarterFull
Year($
in millions)20142013ChangeRevenue:Marketing
& Events Group:U.S.13.3%13.0%International5.3%8.9%Intersegment
eliminations-16.6%-20.7%Total11.2%11.8%Travel
& Recreation Group-2.4%11.1%10.6%11.7%Segment
operating income (loss):66.9%94.1%-12.9%14.0%67.9%58.0%28.9%65.4%42.8%Segment
operating margins:Marketing
& Events Group1.0%0.7%bps3.4%2.4%-29.0%-31.6%23.3%20.1%Segment
EBITDA*:**44.5%8.6%13.8%46.6%33.4%32.3%24.8%73.4%29.8%Segment
EBITDA margins:4.4%3.3%5.7%4.8%-11.2%-16.2%30.2%26.9%*
Defined as segment operating income plus depreciation and amortization.**
Change is greater than +/- 100 percent.Note:
Calculated amounts presented above (including totals and percentages) are calculated using dollars in thousands.The effective tax rateGroup
RevenueGroup
Operating Income (Loss)2015
GuidanceLow
EndHigh
EndtoToVIAD
CORP AND SUBSIDIARIESTABLE
ONE - QUARTERLY AND FULL YEAR RESULTS(UNAUDITED)Three
months ended December 31,Year
ended December 31,(000
omitted, except per share data)$
Change%
ChangeRevenuesSegment
operating income (loss)$
(644)$
(1,862)Corporate
activities (Note A)Restructuring
(charges) recoveries (Note B)56.8%Impairment
charges (Note C)-71.0%Net
interest expenseIncome
(loss) from continuing operations before
income
taxes-26.5%49.4%Income
tax benefit (expense) (Note D)-58.5%98.7%Income
(loss) from continuing operations-60.3%Income
(loss) from discontinued operations (Note E)Net
income (loss)-22.8%Net
(income) loss attributable to noncontrolling interest-51.7%Net
income (loss) attributable to Viad$
(5,889)$
(4,618)$
(1,271)-27.5%Amounts
Attributable to Viad Common Stockholders:$
(7,255)$
(4,403)$
(2,852)-64.8%Income
(loss) from discontinued operationsDiluted
income per common share:Income
(loss) from continuing operations
attributable
to Viad common shareholders$
(0.37)$
(0.22)$
(0.15)-68.2%Income
(loss) from discontinued operations
attributable
to Viad common shareholdersNet
income (loss) attributable to Viad common
shareholders$
(0.30)$
(0.23)$
(0.07)-30.4%Basic
income per common share:Common
shares treated as outstanding for Income (loss) per share calculations:Weighted-average
outstanding common shares-0.8%-0.2%Weighted-average
outstanding and potentially dilutive common shares-0.7%**
Change is greater than +/- 100 percentTABLE
TWO - NON-GAAP MEASURES (NOTE A)(000
omitted)Income
(loss) before other items:Income
(loss) from continuing operations
attributable
to ViadRestructuring
charges (recoveries), net of tax61.3%CEO
transition costs, net of taxImpairment
charges, net of tax66.5%Un
(favorable) tax mattersIncome
(loss) before other items$
(5,011)$
(3,633)$
(1,378)-37.9%37.7%(per
diluted share)61.5%62.5%$
(0.25)$
(0.18)-38.9%38.3%Adjusted
EBITDA:(Income)
loss from discontinued operationsImpairment
charges66.4%Interest
expense-71.0%Income
tax expense (benefit)-63.1%Depreciation
and amortization-34.1%-9.9%Adjusted
EBITDA25.0%Free
Cash Flow:Net
cash provided by (used in)
operating
activities$
(26,890)$
(21,278)$
(5,612)-26.4%Capital
expenditures18.5%18.6%Free
cash flow$
(34,381)$
(30,470)$
(3,911)-12.8%$
(30,064)Segment
EBITDA:Marketing
& Events Group - U.S.:$
(645)$
(1,947)Depreciation
expense5.4%1.6%Amortization
expenseSegment
EBITDAMarketing
& Events Group - International:Segment
operating income$
(419)21.5%Travel
& Recreation Group:$
(2,827)$
(3,162)12.2%9.9%-10.5%$
(1,093)$
(1,615)(A)Income
before other items, Adjusted EBITDA, Free Cash Flow and Segment EBITDA are supplemental to results presented under accounting
principles generally accepted in the United States of America ("GAAP") and may not be comparable to similarly titled measures
presented by other companies. These non-GAAP measures are used by management to facilitate period-to-period comparisons and
analysis of Viad's operating performance and liquidity. Management believes these non-GAAP measures are useful to investors
in trending, analyzing and benchmarking the performance and value of Viad's business. These non-GAAP measures should be considered
in addition to, but not as a substitute for, other similar measures reported in accordance with GAAP.PK ! D docProps/app.xml
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2020-01-17T15:17:02Z2020-01-17T15:17:02ZPK ! Fjһ [Content_Types].xml
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