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No. of Recommendations: 0
1. Repeat Purchase Business: Yes, razor blades and batteries.
2. Global Consumer Brand: Yes, Gillette, Duracell, etc
3. Sporting Strong Historical Performance: More than 10 fold increase in stock price over past 10 years
4. Super-size the company: Market cap over $50 billion
5. A direction that exceeds location: Gross margins, operating margins, net margins increasing steadily over past 10 years
6. Gross Margins of at Least 50%: Fiscal 1997 gross margin = 62%
7. Net margins of at Least 7%: Fiscal 1997 net margin = 14.2%
8. Cash no less than 1.5x Long-Term Debt: No, due to predicability of free cash flows cash on hand is minimal, also share repurchases ongoing
9. Efficient use of cash (Flow ratio): Could use improvement - Fiscal 1997 Curr Assets (less cash) vs Curr Liab = 1.74
Conclusion: Fits majority of criteria, however Flow ratio could use improvement.

I think its a winner. (Note: it is a memeber of this Fool's Rule Maker portfolio.)

Mark
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