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EXFO at a Glance


Corporate Overview

EXFO is a leading provider of test and service assurance solutions for network operators and equipment manufacturers in the global telecommunications industry. The Telecom Division, which accounts for almost 90% of the company’s revenues, offers a wide range of innovative solutions to assess optical networks, from the core to access, as well as next- generation IP infrastructures and related triple-play services. The Life Sciences and Industrial Division offers solutions in medical device and opto-electronics assembly, fluorescence microscopy and other life science sectors.

Strong Investment Proposition

Five good reasons to invest in EXFO (click for more info)
1. EXCELLENT TRACK RECORD OF SALES GROWTH
  • Sales CAGR of 18.3% in last five years and 15.2% in last 10 years
  • Gained market share in a down market
2. WELL POSITIONED FOR KEY GROWTH DRIVERS
  • Migration toward next-generation, IP networks
  • Bandwidth demand driving fiber deployments in access and core
3. HISTORY OF GROWING EBITDA* MARGIN
  • Increased EBITDA margin from -1.1% in FY 2004 to 11.2% in FY 2008
  • Dropped to 8.4% in FY 2009 due to economic recession
4. SOLID BALANCE SHEET
  • Cash position of $68.0 M and no debt – as of Nov.30, 2009
5. EXPERIENCED AND DISCIPLINED MANAGEMENT TEAM
  • Average of 8.5 years at EXFO and 21 years in telecom industry

* Click here for a reconciliation of EBITDA to GAAP net earnings (loss).

Long-Term Vision and Strategy

VISION: Become a strong market leader in converged, IP network test and service assurance industry.

Three-Year Corporate Performance Goals

Corporate Performance Objectives for FY 2010-2012
Increase sales by a CAGR of 20% or more
Raise gross margin to 64%
Double EBITDA* in dollars

*EBITDA is defined as net earnings before interest, income taxes, amortization of property, plant and equipment, amortization of intangible assets, impairment of goodwill and extraordinary gain.