october 30 2009 mitch thompson vp technology · 2020-03-02 · october 30 2009 mitch thompson vp...
TRANSCRIPT
IntroductionIntroductionIntroductionIntroduction
Agenda
Corporate Overview
Product Overview
October 30, 2009© Copyright 2009, Measurement Specialties, Inc.Slide 2
• Publicly traded on NASDAQ: MEAS
• Design/manufacture wide variety of sensors serving virtually all end markets; global footprint with infrastructure in NA/EU/Asia
• Products measure a broad range of physical characteristics, and are designed into medium/high volume OEM products.
MEAS Overview Aggressive Profitable Growth
SummarySummarySummarySummary
200
228
204$200
$250
Sales $millions
$80
$100
$120
EBITDA $millions
October 30, 2009© Copyright 2009, Measurement Specialties, Inc.Slide 4
© Copyright 2008, Measurement Specialties, Inc.
medium/high volume OEM products.
• Focus on highly engineered, application specific solutions, where our product breadth/technology, willingness to customizeand low cost operating model provide us strategic advantage.
• Excellent growth through FY08, FY09 negatively impacted by global economic crisis; supplementing organic growth and expanding addressable market with synergistic acquisitions continues to be a core strategy.
• Vision: be the supplier of choice to OEMs and select end-users for all of their physical sensing needs
92
121
1621
36
41
30
$0
$50
$100
$150
FY05 FY06 FY07 FY08 FY09
Sales $millions
$0
$20
$40
$60
EBITDA $millions
Sales Adj EBITDA
Company HistoryCompany HistoryCompany HistoryCompany History
1983 Company founded as engineering consulting firm. Develops silicon glass/gaging process for low-cost, low power peizoresistive bridge
1985 –1995
Company develops low cost load cell, which leads to entry into digital bathroom scale market; leading provider to OEMs and retailers. IPO on AMEX in 1988.
1998 –2000
Company embarks on series of acquisitions designed to increase size/breadth of sensor division; acquires piezo film group from AMP, IC Sensors from P+E, Schaevtiz Sensors from TRW
MEAS Acquisitions
Piezofilm Sensors
October 30, 2009© Copyright 2009, Measurement Specialties, Inc.Slide 5
Sensors from TRW
2002 –2003
Rapid growth leads to financial mis-steps; company is restructured under Guidone. Post-restructuring, board makes strategic decision to migrate to pure-play sensor company and divest consumer business. Moves to NASDAQ under ticker MEAS.
2004 –2009
Company invests ~$167 million in 14 transactions, significantly expanding product offering and geographic reach. Completely divests consumer business in Dec 2005. 27% CAGR over period (organic + acquisitions).
2009 Today, MEAS is a leading, global sensor supplier to OEMs and end-users, with sales in excess of $200 million to 65 countries worldwide. Migrating all sales under one brand: MEAS.
FY08 AcquisitionsFY08 AcquisitionsFY08 AcquisitionsFY08 Acquisitions
• Visyx
• Excellent progress on our fluid property sensor technology
•Received prototype funding and commitment with several major diesel engine manufacturers (expect to begin production in 4th quarter FY10)
•Applications included monitoring oil quality for
October 30, 2009© Copyright 2009, Measurement Specialties, Inc.Slide 6
© Copyright 2008, Measurement Specialties, Inc.
•Applications included monitoring oil quality for heavy truck to optimize pan changes and fuel monitoring in support of NOx emission reduction
• Intersema
• In full production with new electronics (ASIC)
• Integration on MEAS ERP is complete
• Sales are largely tied to consumer demand and as a result are down (global recession)
MEAS StrategyMEAS StrategyMEAS StrategyMEAS Strategy
• Vision: be the supplier of choice to OEMs and select end-users for all of their physical sensing needs
• Strategy
• Broaden technology portfolio to:
•Cover more of our customer’s sensing needs;
•Bundle multiple sensing technologies into multi-parameter modules
• Focus on moderate volume, highly customized markets (e.g.
October 30, 2009© Copyright 2009, Measurement Specialties, Inc.Slide 7
© Copyright 2008, Measurement Specialties, Inc.
• Focus on moderate volume, highly customized markets (e.g. medical, industrial); support high volume markets (auto, consumer) where we bring a unique, defensible product/technology
•Compete on technology breadth, willingness to customize and cost
•Drive shareholder value through
•Solid Growth – organic and through strategic acquisitions
•Maintain strong balance sheet and excellent cash management
•Leverage fixed costs and expand operating margin
•More efficient use of capital (capex and working capital)
Core Product PortfolioCore Product PortfolioCore Product PortfolioCore Product Portfolio
Pressure Sensors & Transmitters-Bonded Foil-Piezoresistive MEMS> Si strain gage (microfused)> MEMS die/oil filled
Position Sensors (linear & rotary)-LVDT/LVIT, RVDT/RVIT-AMR (GMR) Components-Magnetic Encoders-Inclinometers
October 30, 2009© Copyright 2009, Measurement Specialties, Inc.Slide 8
-Inclinometers
Humidity Sensors & FPS-Capacitive components & modules-Combo sensors (RH+T, RH+T+P, FPS)
Vibration Sensors-Piezoresistive MEMS-Piezoelectric PVDF-Piezoelectric ceramic
Temperature Sensors-NTC sensors & probes-Ni RTD-Thermopile (non-contact)
Sales and ApplicationsSales and ApplicationsSales and ApplicationsSales and Applications
Sales by Market and Region Key Applications by Product Line
Pressure/Force
•Industrial paint sprayer
•Drink dispenser/flow control
•Infusion pump/backflow
Position •Transmission fluid level
•Electronic parking brake/level
•Gas fuel pump/meter
Vibration •Auto safety/crash testing
Sales by End Market
Engine &
Vehicle
Mil/AeroT&M
October 30, 2009© Copyright 2009, Measurement Specialties, Inc.Slide 9
© Copyright 2008, Measurement Specialties, Inc.
Vibration •Auto safety/crash testing
•Activity sensor/pacemaker
•Health & uptime monitoring (HUMS)
Humidity/Gas
•Windshield fogging prevention
•Diesel engine management/emissions
•Mass air flow
Temp •Patient monitoring (skin + invasive)
•HVAC “smart” control (non-contact)
•Seat heaters
Piezo Film
•Traffic/speed data
•Ultrasonic digitizing
•Anti-tamper panels/security
North America
EMEA
Asia
Sales by Region
Medical
General
OEM
Worldwide ResourcesWorldwide ResourcesWorldwide ResourcesWorldwide Resources
Fremont, CA
Hampton, VA
Toulouse, France
Shenzhen, China
Les Clayes-sous-Bois, Druex, and Fontenay, France
Dortmund, Germany
Dayton, OH
Galway, Ireland
2,210 employees worldwide306 U.S., 532 Europe, 1,372 China
Bevaix, Switzerland (Intersema)
Chengdu, China
October 30, 2009© Copyright 2009, Measurement Specialties, Inc.Slide 10
© Copyright 2008, Measurement Specialties, Inc.
Hampton, VA Shenzhen, China
Regional headquarters
Manufacturing and R&D
Global headquarters