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review12 - revolver development process of new product...

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revolver: development process of new product increase in working capital know when and why it kicks in, revolvers can’t be used for capx consider dividend recap - high EBITDA/Interest expense margin should not stay the same should be better -- more efficient management team, PE firm has control over the cost ex: how many suppliers do they have -> more supplier, lower cost? what do you have in your team to help them lower SG&A and why would the management let you do those, incentive? management buyout QoE ebitda clean out all the non-occurring events from statements normalized EBITDA run rate, if you already have it, hasn’t fully reflected, ex: 3Qs, 3%, 4Q, 15% because of this new product Growth potential Margin Client base European Domestic - online Core US headphone business (75% of rev) still growing Continued momentum in core entry level product Growth of premium product offering supports ASP outlook Further penetrate existing domestic customers -increase its peg count through the launch of
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