EX-99.(C)(6) 5 f24299a2exv99wxcyx6y.htm EXHIBIT 99.(C)(6) exv99wxcyx6y
 

Exhibit(c)(6)
Jefferies Broadview A division of Jefferies & Company, Inc. Project Viking Jefferies Broadview Financial Analysis May 19, 2006 CONFIDENTIAL DRAFT Member, SIPC


 

Summary Of Viking 2007 Forecasts Revenue and EBIT based valuations reflect the median trading multiples for BPM/Integration Software Vendors with TTM Revenue <$500MM, except for scenario 4 which reflects a EBIT multiple of 10x. Total Enterprise Value (TEV) is defined as Equity Market Capitalization (EMC) plus total debt and preferred stock less cash and cash equivalents Not Meaningful ("NM"), when applicable figure is less zero. Present Value of share price calculation based on 20% annual discount rate. ($Thousands Except Per Share Data) 1


 

Viking Valuation Sensitivity New Product Failure - No Cuts New Product Traction - No Cuts Cashflow Positive By Q4 2006 Legacy Plan 2


 

Summary Of Public Company Comparables Valuation information calculated as of 5/18/2006. TTM refers to Trailing Twelve Months. Total Enterprise Value (TEV) is defined as Equity Market Capitalization (EMC) plus total debt and preferred stock less cash and cash equivalents. Infrastructure Software Vendors With TTM Revenue Between $25MM & $200MM, TTM Revenue Growth < 0% & TTM EBIT Margin < 0% ($Thousands) 3