PERIOD ENDING Dec-10 Dec-09 Dec-08 Dec-07

Income Statement

Operating Revenue
(Revenue/Sales) 44,452,098 45,810,254 35,012,149 45,094,000

Total Revenues 44,452,098 45,810,254 35,012,149 45,094,000

Cost of Sales 9,257,722 9,395,236 7,453,308 8,305,000

Cost of Sales with

Depreciation 11,886,458 11,917,642 9,223,182 10,334,000

Gross Margin 35,194,376 36,415,018 27,558,840 36,789,000

Gross Operating Profit 35,194,376 36,415,018 27,558,840 36,789,000

Research &
Development Expense 6,978,127 6,630,601 5,292,366 6,426,000

Selling, Gen. &

Administrative Expense 20,436,504 15,489,705 11,007,433 13,532,000

Operating Income 5,922,875 13,605,167 10,266,990 15,744,000

Operating Income b/f
Depreciation (EBITDA) 7,779,743 14,294,711 11,259,039 16,831,000

Depreciation 2,628,736 2,522,406 1,769,873 2,029,000

Operating Income After

Depreciation 5,151,007 11,772,305 9,489,166 14,802,000

Interest Income 181,616 113,039 450,016 520,000

Earnings from Equity

Interest * * * 99,000

Other Income, Net 911,211 2,121,921 1,004,989 943,000

Income, Restructuring
and M&A * * * -518,000

Special Income/Charges * * * -518,000

All numbers in thousands

Total Income Avail for

Interest Expense (EBIT) 6,243,835 14,007,266 10,944,172 15,846,000

Interest Expense 1,301,059 1,264,432 1,212,025 899,000

Pre-tax Income (EBT) 4,942,775 12,742,834 9,732,146 14,947,000

Income Taxes 2,041,615 3,588,211 2,799,304 4,405,000

Minority Interest 342,878 222,850 158,152 191,000

Income before Income

Taxes 4,942,775 12,742,834 9,573,993 14,946,000

Net Income from

Continuing Operations 2,558,281 8,931,772 6,774,689 10,350,000

Net Income from Total

Operations 2,558,281 8,931,772 6,774,689 10,350,000

Total Net Income 2,558,281 8,931,772 6,774,689 10,350,000

Normalized Income 2,558,281 8,931,772 6,774,689 10,868,000

Net Income Available for

Common 2,558,281 8,931,772 6,774,689 10,350,000

Income Statement - Year-to-Date

Revenues Year-to-Date 44,452,098 45,810,254 35,012,149 45,094,000

Income Year-to-Date fr.
Total Ops. 2,558,281 8,931,772 6,774,689 10,350,000
PERIOD ENDING Dec-10 Dec-09 Dec-08 Dec-07

Balance Sheet - Assets

Cash and
Equivalents 9,483,177 10,569,236 8,084,482 6,708,000

Marketable
Securities 433,686 641,098 562,161 2,289,000

Accounts
Receivable 9,069,843 10,483,649 9,007,519 10,908,000

Other Receivable 87,676 93,661 109,269 115,000

Receivables 9,157,520 10,577,311 9,116,788 11,023,000

Raw Materials 2,295,251 1,861,929 1,620,347 2,194,000

Work in Progress 1,175,807 2,320,549 1,861,889 1,531,000

Finished Goods 2,536,362 2,380,298 2,349,287 2,354,000

Inventories 6,007,421 6,562,777 5,831,524 6,078,000

Other Current
Assets 25,050 22,607 1,233,591 951,000

Total Current
Assets 25,106,856 28,373,031 24,828,548 27,049,000

Land &
Improvements 9,578,682 9,692,369 8,596,322 9,199,000
Machinery,
Furniture &
Equipment 16,503,577 16,980,218 15,363,823 16,867,000

Construction in
Progress 3,500,806 3,617,278 3,338,461 3,883,000

Total Fixed
Assets 29,583,065 30,289,866 27,298,606 29,949,000

Gross Fixed
Assets (Plant,
Prop. & Equip.) 29,583,065 30,289,866 27,298,606 29,949,000

Accumulated
Depreciation &
Depletion 15,421,709 15,152,200 13,384,038 14,424,000

Net Fixed Assets

(Net PP&E) 14,161,356 15,137,666 13,914,568 15,525,000

Intangibles 13,358,175 13,214,372 8,438,169 8,846,000

Cost in Excess 5,645,754 5,427,533 3,020,718 2,720,000

Non-Current
Deferred Income
Taxes 4,017,472 3,833,669 3,968,196 4,359,000

Other Non-
Current Assets 3,828,028 3,229,713 2,467,183 3,045,000
Total Non-
Current Assets 41,010,787 40,842,955 31,808,836 34,495,000

Total Assets 66,117,643 69,215,987 56,637,384 61,544,000

Balance Sheet - Liabilities, Stockholders Equity

Accounts
Payable 10,784,236 10,935,809 8,734,346 9,650,000

Short Term Debt 455,605 2,375,454 1,374,491 6,956,000

Deferred
Revenues * * * 520,000

Other Current
Liabilities 8,791,157 6,257,569 4,293,128 3,411,000

Total Current
Liabilities 20,030,999 19,568,833 14,401,966 20,536,000

Long Term Debt 23,185,796 23,877,270 21,898,408 13,864,000

Capital Lease
Obligations * * * 165,000

Deferred Income
Taxes 1,106,918 1,041,582 1,026,555 1,761,000

Other Non-
Current Liabilities 6,536,612 7,381,509 7,351,228 5,547,000

Minority Interest 1,343,332 1,190,149 556,410 609,000

Total Non-
Current Liabilities 32,172,660 33,490,512 30,832,602 21,946,000

Total Liabilities 52,203,660 53,059,345 45,234,569 42,483,000

Common Stock
Equity 13,913,982 16,156,641 11,402,815 19,063,000

Common Par 2,220,099 2,286,637 2,034,419 2,984,000

Additional Paid
In Capital 2,235,756 2,209,123 1,906,459 2,513,000

Retained
Earnings 7,482,268 10,207,509 6,645,292 12,854,000

Other Equity
Adjustments 1,975,857 1,453,371 816,643 713,000

Total
Capitalization 37,099,779 40,033,911 33,301,223 32,927,000

Total Equity 13,913,982 16,156,641 11,402,815 19,063,000

Total Liabilities
& Stock Equity 66,117,643 69,215,987 56,637,384 61,546,000

Cash Flow 5,187,017 11,454,178 8,544,563 12,379,000

Working Capital 5,075,856 8,804,198 10,426,581 6,512,000

Free Cash Flow 2,509,746 135,647 2,406,797 393,000

Invested Capital 37,099,779 40,033,911 33,301,223 33,092,000

* = Data not available

PERIOD ENDING Dec-10 Dec-09 Dec-08 Dec-07

Cash Flow From Operating Activities

Net Income (Loss) 2,901,160 9,154,622 6,774,689 10,541,000

Depreciation 1,794,241 1,824,788 1,322,732 1,580,000

Amortization of
Intangibles 834,494 697,618 447,141 449,000

Operating (Gains)
Losses 2,810,352 3,037,545 3,200,437 623,000

(Increase) Decrease
in Receivables 1,426,312 -980,218 777,824 -157,000

(Increase) Decrease
in Inventories 372,626 -213,161 -590,916 -907,000

(Increase) Decrease
in Payables 241,110 1,466,289 -56,072 -371,000

(Increase) Decrease
in Other Curr Liabs. 2,588,028 -516,754 787,888 -244,000

(Increase) Decrease
in Other Working
Capital -280,252 * -232,915 *
Other Non-Cash Items -2,046,312 -1,808,639 -2,071,801 716,000

Net Cash from

Continuing Operations 10,641,762 12,662,091 10,359,006 12,230,000

Net Cash from

Operating Activities 10,641,762 12,662,091 10,359,006 12,230,000

Sale of Property,
Plant, Equipment 341,312 652,402 274,610 87,000

Sale of Long Term

Investments 42,272 95,276 60,385 89,000

Sale of Short Term

Investments 142,474 * * *

Purchase of Property,
Plant, Equipment -2,559,847 -3,024,626 -2,974,709 -4,254,000

Acquisitions -554,242 -4,508,679 -652,739 -2,039,000

Purchase of Long
Term Investments -532,322 -295,518 -138,024 *
Other Investing
Changes Net 195,706 600,726 1,778,499 144,000

Net Cash from

Investing Activities -2,924,644 -6,480,419 -1,651,977 -5,973,000

Issuance of Debt 9,393 3,236,172 7,940,707 10,154,000

Issuance of Capital
Stock 123,686 90,431 102,080 1,058,000

Repayment of Debt -2,099,544 -1,285,425 -4,467,097 -488,000

Repurchase of Capital
Stock -25,050 -92,046 -5,355,628 -7,446,000

Payment of Cash
Dividends -5,017,926 -4,993,136 -4,324,759 -5,544,000

Other Financing
Charges, Net -1,712,827 -1,435,607 -951,792 -1,189,000

Net Cash from

Financing Activities -8,722,268 -4,479,612 -7,056,489 -3,456,000

Effect of Exchange
Rate Changes 126,818 -255,147 1,585,841 95,000

Net Change in Cash &

Cash Equivalents -878,332 1,446,911 3,236,380 2,896,000
Cash at Beginning of
Period 9,970,095 8,836,495 4,631,000 3,498,000

Cash at End of Period 9,091,763 10,283,407 7,867,381 6,394,000

Foreign Sales 41,602,605 42,819,539 20,999,813 24,909,000

Domestic Sales 2,849,493 2,990,714 14,012,335 20,184,000

Auditor's Report (Aud.

Name & Aud. Op.) UQ UQ UQ U
 ADVERT

Latest Full
Context Quarter
Ending Date 2010/12

Gross Profit Price Earnings

Margin 79.20% Ratios

EBIT Margin 14.00% Current P/E Ratio

P/E Ratio 1
EBITDA Margin 17.50% Month Ago

Pre-Tax Profit P/E Ratio 26

Margin 11.10% Weeks Ago

P/E Ratio 52
Interest Coverage 4.5 Weeks Ago

P/E as % of 2
Digit MG Group
Current Ratio 1.3 P/E

P/E as % of 3
Digit MG Group
Quick Ratio 1 P/E

12 Month
Normalized P/E
Leverage Ratio 4.8 Ratio

Receivables Most recent data   

Turnover 4.5

Inventory
Turnover 1.5
Inventory
Turnover 1.5

Asset Turnover 0.7

Revenue to
Assets 0.7

ROE from Total

Operations 18.40%

Return on
Invested Capital 6.90%

Return on Assets 3.90%

Debt/Common
Equity Ratio 1.67

Price/Book Ratio
(Price/Equity) 7.64

Book Value per

Share $5.39

Total Debt/ Equity 1.7

Long-Term Debt
to Total Capital 0.62

SG&A as % of
Revenue 46.00%

R&D as % of
Revenue 15.70%
R&D as % of
Revenue 15.70%

Receivables per
Day Sales $74.16

Days CGS in
Inventory 244

Working Capital
per Share $1.96

Cash per Share $3.67

Cash Flow per

Share $2.01

Free Cash Flow

per Share $0.97

Tangible Book
Value per Share ($1.97)

Price/Cash Flow
Ratio 20.5

Price/Free Cash
Flow Ratio 42.3

Price/Tangible
Book Ratio -20.88

Most recent data   

5-Year Averages

Return on Equity 49.60%

Return on Assets 12.90%

Return on
Invested Capital 22.90%

Gross Profit
Margin 80.40%

Pre-Tax Profit
Margin 26.70%

Post-Tax Profit
Margin 18.10%

Net Profit Margin

(Total Operations) 18.10%

R&D as a % of
Sales 14.90%

SG&A as a % of
Sales 34.60%

Debt/Equity Ratio 1.17

Total Debt/Equity
Ratio 1.33

Most recent data   

ADVERTISEMENT

41.2

37.6

16.6

11.3

188%

237%

41.2