The Simply Good Foods Company Ipo

The simply good foods company ipo

The simply good foods company ipo

Exhibit 99.1

 

 

 

 

 

 

 



 




 


  Thirteen Weeks Ended  Thirty-Nine Weeks Ended 
  

May 27,

2017

  May 28,
2016
  

May 27,

2017

  

May 28,

2016

 
Net sales $96,503  $104,590  $298,614  $324,367 
Cost of goods sold  52,933   62,162   159,759   188,651 
Gross profit  43,570   42,428   138,855   135,716 
                 
Operating Expenses:                
Distribution  4,084   4,598   13,413   13,673 
Selling  4,350   5,444   12,621   14,813 
Marketing  9,733   9,494   28,969   28,958 
General and administrative  12,276   12,215   33,975   34,080 
Depreciation and amortization  2,482   2,458   7,409   7,705 
Other Expense  17   227   75   652 
Total operating expenses  32,942   34,436   96,462   99,881 
                 
Income from operations  10,628   7,992   42,393   35,835 
                 
Other income (expense):                
Change in warrant liabilities  1,119      722    
Interest expense  (6,430)  (6,559)  (20,059)  (20,292)
Loss (gain) on foreign currency transactions  724   357   6   (44)
Other income (expense)  83   (12)  282   104 
Total other expense  (4,504)  (6,214)  (19,049)  (20,232)
                 
Income before income taxes  6,124   1,778   23,344   15,603 
Income tax expense  1,777   1,002   8,747   6,728 
Net income $4,347  $776  $14,597  $8,875 
                 
Other comprehensive income:                
Foreign currency translation adjustments  (805)     (389)  158 
Comprehensive income $3,542  $809  $  $9,033 

 

 

 

NCP-ATK Holdings, Inc.

and Subsidiaries

(dba Atkins Nutritionals)

Net Income to Adjusted EBITDA Reconciliation

(Unaudited)

 

  13-Weeks Ended  39-Weeks Ended 
  27-May-17  28-May-16  27-May-17  28-May-16 
             
Net Income (As reported in the Q3 10Q) $4.3  $0.8  $14.6  $8.9 
                 
Interest expense $6.4  $6.6  $20.1  $20.3 
Income tax expense  1.8   1.0   8.7   6.7 
Depreciation and amortization  2.5   2.5   7.4   7.7 
Stock Based Compensation  (0.3)  0.5   1.1   1.5 
Management Fees (1)  0.4   0.7   1.4   1.4 
Restructuring Charges (2)  0.0   0.2   0.1   0.7 
Transaction Fees/IPO Readiness   (0.2)  0.2   0.4   0.5 
Legal Costs   0.2   -   0.6   0.0 
Frozen Licensing Media   0.5   -   0.8   0.0 
Other Exp (3)  (0.8)  (0.4)  (0.1)  (0.0)
                 
Adjusted EBITDA (As defined in the Q3 10Q) $14.8  $12.1  $55.1  $47.7 

 

 

 

 

NCP-ATK Holdings, Inc.

Quest Nutrition Acquired by Simply Good Foods - Consumed Ep.51

and Subsidiaries

(dba Atkins Nutritionals)

Net Sales to Pro Forma Adjusted Net Sales Reconciliation

(Unaudited)

  

  13-Weeks Ended  39-Weeks Ended 
  27-May-17  28-May-16  27-May-17  28-May-16 
             
Net Sales (As defined in the Q3 10Q) $96.5  $104.6  $298.6  $324.4 
                 
Removal of Frozen Meals related Net Sales $-  $(15.8) $-  $(46.8)
Licensing Income Adjustment  -   1.0   -   3.0 
Net Frozen Meals Licensing Adjustment  -   (14.8)  -   (43.8)
                 
Atkins' Pro forma Adjusted Net Sales $96.5  $89.8  $298.6  $280.6 
                 
Adjusted EBITDA (As defined in the Q3 10Q) $14.8  $12.1  $55.1  $47.7 
                 
Removal of Frozen Meals related EBITDA $-  $(0.8) $-  $(3.3)
Licensing Income Adjustment  -   1.0   -   3.0 
Net Frozen Meals Licensing Adjustment  -   0.2   -   (0.3)
                 
Atkins' Pro forma Adjusted EBITDA $14.8  $12.3  $55.1  $47.4 

 

Note: Dollars in millions.

Financial metrics do not include the impact of purchase accounting or other impacts from the consummation of this transaction.

 

 

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The simply good foods company ipo