e8vk - SEC.gov | HOME AEROSPACE PROPRIETARY 4 Business Overview (1) 2009E and 2010E reflects midpoint of Company guidance as of 11/6/2009. A leading provider of design engineering

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0000950123-09-063328.txt : 200911170000950123-09-063328.hdr.sgml : 2009111720091117074951ACCESSION NUMBER:0000950123-09-063328CONFORMED SUBMISSION TYPE:8-KPUBLIC DOCUMENT COUNT:20CONFORMED PERIOD OF REPORT:20091117ITEM INFORMATION:Regulation FD DisclosureITEM INFORMATION:Financial Statements and ExhibitsFILED AS OF DATE:20091117DATE AS OF CHANGE:20091117

FILER:

COMPANY DATA:COMPANY CONFORMED NAME:LMI AEROSPACE INCCENTRAL INDEX KEY:0001059562STANDARD INDUSTRIAL CLASSIFICATION:AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]IRS NUMBER:431309065STATE OF INCORPORATION:MOFISCAL YEAR END:1231

FILING VALUES:FORM TYPE:8-KSEC ACT:1934 ActSEC FILE NUMBER:000-24293FILM NUMBER:091189055

BUSINESS ADDRESS:STREET 1:411 FOUNTAIN LAKES BLVD.CITY:ST CHARLESSTATE:MOZIP:63301BUSINESS PHONE:636-946-6525

MAIL ADDRESS:STREET 1:411 FOUNTAIN LAKES BLVD.CITY:ST CHARLESSTATE:MOZIP:63301

8-K1c54711e8vk.htmFORM 8-K

e8vk

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November17, 2009

LMI AEROSPACE, INC.

(Exact Name of Registrant as Specified in Its Charter)

Missouri
(State or Other Jurisdiction of Incorporation)

0-24293
(Commission File Number)

43-1309065
(IRS Employer Identification No.)

411 Fountain Lakes Blvd.

St. Charles, MO

63301

(Address of Principal Executive Offices)

(Zip Code)

(636)946-6525
(Registrants Telephone Number, Including Area Code)

(Former Name or Former Address, If Changed Since Last Report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfythe filing obligation of the registrant under any of the following provisions (see GeneralInstruction A.2. below):

o Written communications pursuant to Rule425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))

o Pre-commencement communications pursuant to Rule13e-4(c) under the Exchange Act (17 CFR240.13e-4(c))

Section7 RegulationFD

Item7.01. RegulationFD Disclosure

On November17, 2009, LMI Aerospace, Inc. (the Company) will be presenting a PowerPointpresentation at the Oppenheimer & Company Annual Industrials Conference. The PowerPointpresentation is attached hereto as Exhibit99.1.

The information in this Item7.01 of this Current Report on Form 8-K, including the attachedPowerPoint presentation, shall not be deemed filed for the purposes of Section18 of theSecurities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of thatsection, nor shall it be deemed incorporated by reference in any filing under the Securities Act of1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Section9 Financial Statements and Exhibits

Item9.01. Financial Statements and Exhibits.

(d)Exhibits

Exhibit No. Description

99.1

PowerPoint presentation first presented by the Company on November17, 2009.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has dulycaused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November17, 2009

LMI AEROSPACE, INC.

By: /s/ Lawrence E. Dickinson

Lawrence E. Dickinson

Vice President, Chief Financial Officer and Secretary

EXHIBIT INDEX

Exhibit

Number Description

99.1

PowerPoint Presentation first presented by the Company on November17, 2009.

EX-99.12c54711exv99w1.htmEX-99.1

exv99w1

Exhibit99.1

December 2007

RoadshowPresentation

Oppenheimer Industrial ConferenceNovember 2009

LMI AEROSPACE PROPRIETARY

1

In addition to our past performance and other historical facts, this presentation contains certainforward-looking information such as our current expectations as to future performance. Suchforward-looking information is based on management's assumptions and analysis that are subject tonumerous business risks and uncertainties, including risk and uncertainties that related toacquisitions. There can be no assurance that our assumptions will prove to be accurate in the future.Actual results may differ from these forward-looking statements as a result, among other things, ofthe factors detailed from time to time in our filings with the Securities and Exchange Commission.Please refer to the Risk Factors contained in the company's annual report on Form 10-K for the yearended December 31, 2008.

Safe Harbor Statements


2

Senior Management

CEO and President of LMI since 1984

Previously served as Executive Vice President withAssociated Transports, Inc.

Ronald S. Saks

CEO,

President & Director

Lawrence E. Dickinson

CFO & Secretary

CFO of LMI since 1993

Previously served as a Financial Analyst and Controllerfor LaBarge, Inc. from 1984 to 1993


3

Investment Highlights

Demonstrated track record of strong financial performance, withexcellent growth outlook

20% Revenue CAGR from 2004 to 2010E

48% Operating Income CAGR from 2004 to 2010E

Revenue / customer diversification1

38% services, 62% production and assembly

36% commercial, 23% military, 35% corporate andregional

Favorable long-term industry trends toward outsourcingengineering, production and assembly

Approximately 70% of our 2010E revenue is associated with long-term contracts

Aerostructures segment backlog of $228 million at September 30,2009

Preferred supplier to aircraft OEMs (including Boeing, Sikorsky,Gulfstream and others) and Tier 1 suppliers for nearly 60 yearswith industry-leading quality and reliability

Defined organic growth plan and ongoing acquisition program

Experienced management team with an average of over 20 yearsexperience and strong industry relationships

Revenue2

Operating Income2

(2) 2009E and 2010E reflect midpoint of Company guidance as of 11/6/2009.

($ in Millions)

($ in Millions)

(1) Based on 2008 results.

D3

82

2004 - 2010E CAGR = 20%

2004 - 2010E CAGR = 48%


4

Business Overview

(1) 2009E and 2010E reflects midpoint of Company guidance as of 11/6/2009.

A leading provider of design engineering services, structural components,assemblies and kits to the aerospace, defense and technology industries

Produces more than 30,000 types of aerospace parts, kits and assembliesfor integration into a variety of civilian and military aircraft platforms

Supports both military and commercial aircraft lifecycles, from conceptualdesign, analysis and certification through production support, fleet supportand service life extensions with over 300 qualified engineers

Locations in 10 cities

Successfully integrated nine acquisitions since 1996

Revenue of $248 million and $262 million and operating profit of $22million and $26 million for 2009E and 2010E respectively1


5

767 Winglet Modification Leading Edge

Gulfstream Fuselage Kit

Sikorsky Helicopter Cabin Assembly

Leading Edge

Great customer relationships built over many years around our superior reputation forquality and on-time delivery

Leading Provider of Assemblies, Kits and Components

Rotorcraft Machined Components

G250 Inboard Leading Edge


6

Gulfstream G-650 StructuralDesign and Analysis

Boeing 787 Structural andSystems Design

Airbus A330 Wing

Boeing Dreamlifter Structuraland Systems Design

Well-positioned on corporate, commercial and military platforms

Well-positioned on corporate, commercial and military platforms

Offers Complete Range of Design Engineering Services

F-35 Wing and Fuselage

F-18 Program Management


7

LMI is positioned as a "turnkey" aerospace systems provider

Strengthens LMI's current customer relationships

Potential access to Airbus with combined capabilities

Capitalizes on accelerating trend toward OEM outsourcing of complex aircraft developmentprojects

Enhances the depth of LMI's management and engineering team

D3 employs over 300 highly skilled engineers; Intec retains a staff of 46 technicians

Adds additional 787 program participation and unique composite materials engineering andtesting expertise

D3 & Intec Acquisitions Offer Design Engineeringand Composite Technology Expertise

Engineering

Testing

Manufacturing

Integrated

Design-Build-Test

Service


8

Pursue design-build opportunities

Expand value-added product services and solutions

Opportunistically pursue strategic acquisitions

Leverage strong customer relationships

Size operations to new demand levels

Invest in training and lean for production efficiencies

Strategic Initiatives


9

Design and engineering services

Composite technologies

High speed machining

Other complex metal capabilities

Acquisition Focus

Enhance portfolio of design and manufacturing capabilities

?


10

Wichita

Auburn

Sun Valley

Tulsa

St. Louis

Vista

Irving

Savannah

Mexicali

Machining

Forming

Processing

Distribution

Design

Mukilteo

Dallas

Greenville

San Diego

Strategic Geographic Locations

Catoosa

HQ

Everett

Composite


11

Strong Relationships with OEMs & Tier 1s

Exclusive long-term agreements with blue-chip customers

Diversified Across Aerospace Sectors

LMI applies its capabilities across multiple customers and aircraft platforms

Disciplined diversification strategy significantly protects LMI from downturns in theaerospace cycle

Full Year 2008

(1) Sector revenue breakdown based on FY 2008 results.


12

Business aviation heavilyimpacted by the speed and scaleof the global financial crisis;demand fell as corporate profitsand personal wealth fell

Inventory and pricing levelsappear to have bottomed andthe weak dollar may boostdemand

Sources: Wall Street research; Airline Monitor, July 2009; National Defense Budget Estimates for FY 2010.

Jet Deliveries of LMIAerospace Customers1

(1) Includes Gulfstream large cabin aircraft.

(2) Includes Boeing and Airbus deliveries.

CAGR = 0.3%

LMI Focuses on Diverse Markets

After declining in 2009, RPMs areexpected to demonstrate growthin 2010 and 2011

Concern about oil prices drivingdemand for:

Lighter, more fuel-efficientaircraft

Winglet modifications thatenhance fuel efficiency

Rotorcraft demand driven by highutilization and aging fleet

Engineering services for militaryaircraft programs driven byupgrades, maintenance,modification and new aircraftdevelopment

Large Commercial AircraftDeliveries2

Defense AircraftProcurement Budget

CAGR = 7.7%

CAGR = 7.2%

Business Aviation

Commercial Aerospace

Military


13

($ in billions)

63

73

0

20

40

60

80

100

2005

2010E


14

Key Capabilities on a Variety of Platforms

Business Aviation

Commercial Aerospace

Military

G-150

G-450 / G-550

G-650

Design

Engineering

Manufacturing: Fuselage Skins andComponents, Wing Skins andComponents, Leading Edges, StructuralSheet Metal and Extruded Components

Design Engineering Services: Wing /Wingbox Design, Winglet Design,Systems Design and Integration,Certification Planning and Support, ToolDesign and Fabrication

767

777

737

787

Manufacturing: Fuselage Skins andComponents, Wing Skins andComponents, Leading Edges, WingletLeading Edges

Design Engineering Services: Wing /Wingbox Design, Fuselage /Empennage Design, CompositeDesign Expertise, WeightImprovement Design

CH-53

F-35

F-18

UH-60

Manufacturing: Helicopter Components,Helicopter Assemblies, Housings andAssemblies for Gun Turrets

Design Engineering Services: Wing /Wingbox Design, Fuselage / EmpennageDesign, Composite Design Expertise,Weight Improvement Design, ToolDesign and Fabrication, RapidPrototyping and Test


15

$ in Millions

Note: 2009E & 2010E reflect midpoint of Company guidance as of 11/6/09.

History of Financial Success

2004 - 2010E CAGR = 20%

2004 - 2010E CAGR = 48%

Revenue

Guidance for 2009

Operating Income

$ in Millions

Guidance for 2010


16

Strong Financial Position

Current Net Debt Position

Significant liquidity

$80 million revolver with additional $40 million accordion feature

Shelf registration on file with SEC

EBITDA1

(1) 2009E & 2010E reflect midpoint of Company guidance as of 11/6/09. EBITDA equals operating profit plus depreciation, amortization, stock compensation expenseand goodwill impairment.

$ in Millions

9/30/09 10/31/09

Cash & Cash Equivalents 2.5 6.7

Revolver 30.0 27.0

Net Debt 27.5 20.3

$ in Millions


17

Investment Highlights

Demonstrated track record of strong financial performance, withexcellent growth outlook

20% Revenue CAGR from 2004 to 2010E

48% Operating Income CAGR from 2004 to 2010E

Revenue / customer diversification1

38% services, 62% production and assembly

36% commercial, 23% military, 35% corporate andregional

Favorable long-term industry trends toward outsourcingengineering, production and assembly

Approximately 70% of our 2010E revenue is associated with long-term contracts

Aerostructures segment backlog of $228 million at September 30,2009

Preferred supplier to aircraft OEMs (including Boeing, Sikorsky,Gulfstream and others) and Tier 1 suppliers for nearly 60 yearswith industry-leading quality and reliability

Defined organic growth plan and ongoing acquisition program

Experienced management team with an average of over 20 yearsexperience and strong industry relationships

Revenue2

Operating Income2

(2) 2009E and 2010E reflect midpoint of Company guidance as of 11/6/09

($ in Millions)

($ in Millions)

(1) Based on 2008 results.

D3

82

2004 - 2010E CAGR = 20%

2004 - 2010E CAGR = 48%

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e8vk - SEC.gov | HOME AEROSPACE PROPRIETARY 4 Business Overview (1) 2009E and 2010E reflects midpoint of Company guidance as of 11/6/2009. A leading provider of design engineering