No. of Recommendations: 0
MACR-Jun '01 MACR-Mar '01
Liquidity
Current Ratio (>=2.0, not going down) 2.15 2.20
Quick Ratio (>=1.0, not going down) 1.80 1.86
DPO 62.49 51.15
Cash Cycle (4.86) 3.40
Financial Leverage
Debt/Assets (<=.25 good;zero is best) 0.17 0.15
Debt/Equity (<1.0) 0.21 0.18
Current Liab./Equity 0.19 0.17
Cap. Ratio <=.33 0.00 0.00
TIE (>1) NMF NMF
Cash coverage NMF NMF
Asset Management Ratios
Inventory Turnover(accurate) 19.38 24.49
Inventory Turnover(industry) 129.28 184.30
DIO(accurate) 20.82 9.49
DIO(industry) 24.31 18.98
Receivables Turnover(accurate) 10.88 9.77
Receivables Turnover(industry) 11.37 10.29
DSO (accurate) 36.8 Target= 45.1 Target=
DSO (industry) 34.7 38.8
Fixed Asset Turnover (4 qtrs) 4.0 3.4
Total Asset Turnover (4 qtrs)(>3:1) 0.7 0.7
Flowie Ratio (<1.25 good;<1.00 out.) 0.68 0.67
Profitability Ratios
Basic EPS (qtr) (1.94) (0.43)
Diluted EPS (qtr) (1.94) (0.38)
PS Ratio (<1.0) 2.33 NMF
PE Ratio NMF 80.17
Earnings Yield NMF 1.25%
PEG Ratio NMF NMF
YPEG fair value(mkt cap>1bb)
P/FCF NMF NMF
Book Value Per Share 9.46 11.28
P/BV Per Share 1.60 1.71
Gross Profit Margin (qtr) 87.45% 88.59%
Gross Profit Margin (4 qtrs) 88.68% 89.12%
Operating Profit Margin (qtr) -92.74% -20.46%
Operating Profit Margin (4 qtrs) -21.87% 1.65%
Profit margin (qtr) -125.95% -24.44%
Profit margin (4 qtrs) -28.78% 3.43%
ROA (4 qtrs) -20.85% 2.38%
ROE (4 qtrs) >=15% -25.83% 2.90%
Delta sales (qtr-qtr) -0.37% -13.80%
Delta sales (qtr-yr ago) -6.35% -0.23%
Delta COGS (qtr-qtr) 9.61% 4.35%
Delta COGS (Q-YAQ) -10.60% -12.13%
F8 Criteria (primary)
Sales <= 500MM 383,579 PASSED 389,600 PASSED
Daily Dollar Volume >1MM 17,214,000 PASSED 24,050,000 PASSED
Daily Dollar Volume <25MM 17,214,000 PASSED 24,050,000 PASSED
Share Price >7 15.10 PASSED 19.24 PASSED
Net Profit Margin >=7% -125.95% FAILED -24.44% FAILED
RS>=90 12.0% FAILED NMF NMF
Earnings Growth >=25% -1023.81% FAILED -480.00% FAILED
Sales Growth>=25% (Q-YAQ -6.35% FAILED -0.23% FAILED
Insider Holdings>=15% 35% PASSED 29% PASSED
Positive Cash Flow from Operations (10,582) FAILED 66,679 PASSED
F8 Criteria (secondary)
Market Cap <1BB 894,237,100 PASSED NMF NMF
%increase in sales >%increase in AR (Q-YAQ) PASSED PASSED
%increase in sales >%increase in AR (YoY) NMF NMF
DSO<DSO (Q-YAQ) NA NA
%increase in sales >%increase in inventory (Q-YAQ) FAILED FAILED
%increase in sales>%increase in inventory (YoY) NMF NMF
Asset turnover>3:1 FAIL FAIL
Cash >5 times LT debt PASSED PASSED
Operating margins increasing (qtr-qtr) FAILED FAILED
Operating margin/Gross margin>.75 -1.06 FAIL -0.23 FAIL
Net margins increasing (qtr-qtr) FAILED FAILED
P/S <1.0 FAIL NMF
GP>50% (30-50%, marginal) 87.45% PASSED 88.59% PASSED
R&D as percentage of sale increasing (qtr-qtr) PASSED FAILED
Growth in number of shares<6% (Q-YAQ) -2.3% PASSED NMF NMF
%Increase in revenues>%increase in COGS (Q-YAQ)) FAILED PASSED
%Increase in revenues>%increase in SG&A (Q-YAQ) FAILED FAILED
%Increase in revenues>%increase in ADA (Q-YAQ) NMF FAILED
%increase in net income>%Increase in revenues (YoY) NMF NMF
Income tax > 20% FAILED FAILED
Flowie Ratio<1.25 PASSED PASSED