Coppersmith Presentation to Alere Inc Stockholders slide image

Coppersmith Presentation to Alere Inc Stockholders

PAGE 5 | Long-Term Underperformance: How Credibility Gets Ruined $180 $160 $140 $120 $100 $80 $60 $40 $20 Poor Stock Performance¹ теми SO Oct-07 Feb-08 Jun-08 Oct-08 Feb-09 Jun-09 Oct-09 Feb-10 Jun-10 Oct-10 Feb-11 Jun-11 Oct-11 Feb-12 Jun-12 Oct-12 Feb-13 Jun-13 -ALR -NYSE Composite -DJ US HC Index Non-GAAP Operating Results Professional Diagnostics Organic Growth (Incl. Triage) Health Management Organic Growth Gross Margin Operating Margin Adjusted EPS $10,000 $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 2007 2009 2008 Poor Operating Performance 7.4% -2.1% 57.7% 24.3% $2.63 EV Capital Misallocation 2,3,4 2009 2010 Acquisitions Net of Divestitures 2010 2011 5.7% -8.6% 56.1% 22.1% $2.51 COPPERSMITH 2012 YTD 2013 Stockholder Value Destroyed 2011 5.5% -10.7% 55.3% 20.7% $2.48 2012 1.4% 0.2% 53.6% 17.9% $2.25 Jun-13 In our view, nothing in Alere's past performance augurs future success without stockholder intervention
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