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Black Box Corporation


Title: PowerPoint Presentation Author: Black Box Corporation Last modified by: Laura Cummins Created Date: 3/1/2004 5:57:50 PM Document presentation format – PowerPoint PPT presentation

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Title: Black Box Corporation

  • Black Box Corporation
  • 17th Annual Emerald Advisors
  • Groundhog Day Investment Forum
  • February 5, 2010

Black Box Network Services
  • Forward-Looking Statements - Any forward-looking
    statements contained in this presentation are
    made pursuant to the safe harbor provisions of
    the Private Securities Litigation Reform Act of
    1995 and speak only as of the date of this
    presentation. You can identify these
    forward-looking statements by the fact that they
    use words such as "should," "anticipate,"
    "estimate," "approximate," "expect," "target,"
    "may," "will," "project," "intend," "plan,"
    "believe" and other words of similar meaning and
    expression in connection with any discussion of
    future operating or financial performance.
    Forward-looking statements are inherently subject
    to a variety of risks and uncertainties that
    could cause actual results to differ materially
    from those projected. Risk factors are included
    in our Annual Report on Form 10-K for the fiscal
    year ended March 31, 2009 and our other filings
    with the Securities and Exchange Commission (the
    SEC). We can give no assurance that any goal,
    plan or target set forth in forward-looking
    statements can be achieved and readers are
    cautioned not to place undue reliance on such
    statements, which speak only as of the date made.
    We undertake no obligation to release publicly
    any revisions to forward-looking statements as a
    result of future events or developments.
  • GAAP Reconciliation -This presentation also
    includes, as a supplement to United States
    Generally Accepted Accounting Principles
    (GAAP), certain non-GAAP financial measures.
    These non-GAAP financial measures exclude the
    impact of certain items and, therefore, have not
    been calculated in accordance with GAAP.
    Pursuant to the requirements of the SECs
    Regulation G, we provide in our SEC filings
    additional information regarding these non-GAAP
    financial measures, including a reconciliation of
    them to their most comparable GAAP financial
    measures, managements explanations regarding the
    use and usefulness of non-GAAP financial measures
    and the limitations associated with the use of
    non-GAAP financial measures. The Company's
    non-GAAP financial measures are not meant to be
    considered in isolation or as a substitute for
    comparable GAAP financial measurements, and
    should be read only in conjunction with the
    Company's consolidated financial statements
    prepared in accordance with GAAP.

Terry Blakemore
  • President and CEO

Company Highlights
Black Box is the leading independent provider of
major communications and infrastructure
  • A Robust Company
  • 194 offices Worldwide
  • 4,500 team members
  • 2,500 technicians
  • 175,000 clients
  • 4,000,000 ports under maintenance
  • Servicing over 85 of the Fortune 100
  • Financially Strong and Stable
  • Public company (NASDAQ BBOX) since 1994
  • 1 billion in annual revenue
  • Double digit margins
  • Positive cash flow for 32 consecutive years

Company Confidential
Black Box Corporation
Voice Communications Services
Remote and on-site services to plan, design,
install, monitor and manage voice and data
communications systems
Data Infrastructure Services
Services to plan, design, install and maintain
the underlying infrastructure for communications
Hotline Networking Products
Sales and support of networking products and
refurbished phones and cards
  • Voice Communications
  • Solutions 60 of revenue

Remote Monitoring
Network Security
Voice over IP
Unified Communications
Traditional Telephony
Strategic Advantage Our Communications
Portfolio Partners
  • Top 3 Channel Partner
  • 25-year relationship
  • 2M ports on maintenance
  • Coverage U.S., Canada,
  • U.S. Federal Government worldwide coverage
  • Relationships around the globe
  • 500,000 ports on maintenance
  • Coverage U.S.
  • No. 1 U.S. channel partner
  • 25-year relationship
  • 1M ports on maintenance
  • Coverage U.S.
  • No. 1 channel partner in North America
  • 700,000 ports on maintenance
  • Coverage U.S., Canada
  • Jan 2010 Added New reseller territory
    (Australia, New Zealand, UK, France, Italy,
    Germany, Mexico)
  • New agreement announced November 20, 2009 as
    Silver Partner Status
  • January 2010 moved to Platinum Partner status
  • Coverage U.S., Canada, Mexico
  • Leader in Pure IP Telephony
  • 20,000 ports on maintenance
  • Coverage U.S., Canada, UK and Australia

Market Share
Enterprise Line Shipments, North America, 2008
Others, 22.5
Cisco, 23.5
Siemens, 1.9
ShoreTel, 2.1
Toshiba, 3.7
Avaya, 15.2
Mitel, 7.5
NEC, 8.5
Nortel, 15.0
Source Market Share Enterprise Telephony
Equipment, Worldwide, 2008 Gartner (March, 2009)
  • Data Infrastructure
  • Services 19 of revenue

Digital Signage, CATV Video
Structured Cabling
Data Networking
Data Centers
  • Hotline Products 21 of revenue

Custom Solutions
Cabinets Racks
Routers, Switches
Worldwide Market Size
Communications and networking products and
Voice Communications 50B
Data Infrastructure 3B
Hotline Products 7B
Total Worldwide Market 60B
Source Derived from data provided by Gartner and
other industry analyses.
Client Spotlight
  • Our clients include

Company Confidential
Client Opportunity
  • Our view of how our clients see the market today
  • Telcos vs. System Integrators vs. Manufacturers
    and Their Channel Partners
  • Confusing relationships
  • Overlap in services and responsibilities
  • Need a single point of contact
  • Increasingly Complex Communications Technology
    Requires Higher Degree of Specialization
  • Customers need a partner that can integrate
    multiple, complex technologies with business
  • Customers need a partner with the flexibility to
    support, augment or entirely outsource
    communications resources
  • Black Box is uniquely positioned to work
    independently and as a single
  • point-of-contact among telcos, systems
    integrators and manufacturers
  • Black Boxs team has the right mix of skills to
    support advanced
  • communications at all stages of the
    communications lifecycle

Company Confidential
Black Box Solution
  • Promises made and kept to meet our customers

Consultative Approach
Technical Expertise
  • 33 years of proven results
  • Entrusted to drive
  • communications strategy
  • Strong leadership
  • Diverse and long-term customer
  • base
  • Comprehensive portfolio
  • Vendor independent
  • Understands interoperability
  • Single point-of-contact
  • Planning for future
  • development
  • Breadth of knowledge
  • Single-source provider
  • 2,500 certified technicians
  • 7 NOCs, 24/7 support
  • Keeping clients abreast of
  • technology advancements

Black Boxs consultative approach, technical
expertise and experience enable us to fill gaps
in the operational and strategic communications
needs of our customers TODAY AND INTO THE
Company Confidential
Mike McAndrew
  • Chief Financial Officer

Well-Diversified Revenues
Revenue by Industry
Source Derived from Company data and Companys
2009 Form 10-K .
Well-Diversified Revenues
Revenue by Client Type
Revenue by Geography
Revenue by Client Size
Source Derived from Company data and Companys
2009 Form 10-K .
Revenue Visibility
Backlog represents expected revenue related to
executed client purchase orders or contracts that
are estimated to be complete within 180 days of
quarter end.
Source Derived from Company data and Companys
2009 Form 10-K and 12/31/09 form 10Q.
Solid Sustainable Margins
Source Derived from Company data and Companys
2009 Form 10-K and 12/31/09 form 10Q.
See attached reconciliation
GAAP/Non-GAAP Reconciliation
Source Derived from Company data and Companys
2009 Form 10-K and 12/31/09 form 10Q.
Consistent Positive Cash Flow
Source Derived from Company data and Companys
2009 Form 10-K and 12/31/09 form 10Q.
Balance Sheet Statistics
2005 2006 2007 2008 2009 9 mos. 2010
DSO Days 57 54 53 55 53 52
Inventory Turns 6.4 7.3 7.2 7.1 8.5 9.3
Capex (M) 3.5 4.1 5.9 3.2 2.2 1.6
Capex as of Rev. 0.7 0.6 0.6 0.3 0.2 0.2
Headcount 3,371 3,295 4,581 4,313 4,542 4,384
Debt / Equity .3 to 1 .2 to 1 .4 to 1 .3 to 1 .4 to 1 .3 to 1
Source Derived from Company data and Companys
2009 Form 10-K and 12/31/09 form 10Q.
  • At December 31, 2009
  • 29 million in cash
  • 350 million syndicated line of credit
  • 236M drawn down
  • Leverage ratio - 2.5, Covenant lt 3.0
  • Interest Coverage Ratio 10.0, Covenant gt 3.0
  • Borrowing rate LIBOR .875 1.1
  • Expires January 2013

Black Box Network Services (BBOX)
  • Well-Diversified Revenues
  • Solid, Sustainable Margins
  • Consistent, Positive Cash Flow