Exhibit E | |||||||||||||||
MTS SYSTEMS CORPORATION | |||||||||||||||
Free Cash Flow | |||||||||||||||
(unaudited - in thousands) | |||||||||||||||
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| Three Months Ended |
| Nine Months Ended | ||||||||||||
|
| June 29,
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| June 30,
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| June 29,
|
| June 30,
| ||||||||
Net Cash Provided by (Used in) Operating Activities | $ | 19,301 |
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| $ | 14,853 |
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| $ | 49,970 |
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| $ | 52,111 |
|
Purchases of property and equipment | (8,028) |
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| (4,409) |
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| (17,377) |
|
| (9,777) |
| ||||
Proceeds from sale of property and equipment | — |
|
| — |
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| 10 |
|
| 69 |
| ||||
Free cash flow1 | $ | 11,273 |
|
| $ | 10,444 |
|
| $ | 32,603 |
|
| $ | 42,403 |
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1 | Denotes non-GAAP financial measure. | ||||||||||||||
Exhibit F | ||||||
MTS SYSTEMS CORPORATION | ||||||
Reconciliation of EBITDA and Adjusted EBITDA to Net Income - Outlook | ||||||
(unaudited - in thousands) | ||||||
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| Twelve Months Ending | |||||
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| September 28, 2019 | |||||
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| Low | High | ||||
Net income | $ | 42,000 |
| $ | 46,000 |
|
Income tax provision (benefit) | 4,500 |
| 5,500 |
| ||
Interest expense, net | 32,000 |
| 33,000 |
| ||
Depreciation and amortization | 37,000 |
| 39,000 |
| ||
EBITDA1 | 115,500 |
| 123,500 |
| ||
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Stock-based compensation and non-recurring expenses2 | 12,500 |
| 14,500 |
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Adjusted EBITDA1 | $ | 128,000 |
| $ | 138,000 |
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1 | Denotes non-GAAP financial measure. | |||||
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| 2 | Includes pre-tax forecast expenses for stock-based compensation, restructuring expenses, acquisition-related expenses and acquisition inventory fair value adjustment. | |||||
