Risky transition from analog to digital film markets, with analog in secular decline and digital emerging as a highly competitive landscape Strong competitive position with high barriers to entry in the declining print segment of the business Balanced geographic footprint with diverse customer base Aggressive financial policy, characterized by a sizable debt burden, pressured by declining revenue levels in the print film business Consistently good free cash flow generation The outlook is stable. We expect that high-teen EBITDA margins and disciplined capital spending will enable Carestream Health Inc. to continue generating free operating cash flow between $70 million and $90 million. We believe that debt to EBITDA will end fiscal year 2016 at about 5x and funds from operations (FFO)
